The global crypto market is all set to embrace major changes in the industry. As the perception of folks from the business transits from conventional asset class to emerging projects. In the light of the growing fundamentals, utility, community, and institutional interests. Wherefore, the business could spectate notable changes, collective efforts of which would evolve the business.
While top-tier assets have been dormant, it is the emerging ones that are raging ahead on a myriad of metrics. Consequently, the sprint to enter the top-10 crypto-list has a number of entrants, of which Dogecoin, Shiba Inu, and Polygon are running at the forefront.
Are These Cryptos Competent For Diamond Hands?
Dogecoin has been holding its supremacy in meme coins no matter what, the tedious efforts of Shiba Inu have done little harm to the meme coin. Dogecoin has been managing to stay afloat despite the lack of fundamentals and utility. This shows the strength of the community and the strong influencer backing. Which has been the USP of the meme coin.
However, the Dogecoin foundation has been striving towards fundamentals and utility. The foundation has collaborated with Vitalik Buterin to develop a unique community staking proposal based on PoS.
On the contrary, the price of DOGE at the time of writing is changing hands at $0.168872, with gains of 10.1%. The volume of trades counts at $1,131,163,285, whilst the market cap is hovering at about $22,389,943,881. The YTD returns of DOGE are at 1995.7%, while the returns since October till date are down by 15.69%. Despite the healthy run in October which yielded 67.48%.
Shiba Inu (SHIB):
Shiba Inu has managed to change the perception of meme coins, with its healthy runs alongside developments and utility. Shiba Inu has been flourishing in terms of utility and developments, in fact, the initiatives are leaving mainstream cryptos in the dust. The team has been working towards decentralization with Doggy DAO, its own blockchain Shibarium, and its DEX ShibaSwap.
Other notable events include coin burns by makers and private entities, listing on exchanges, acceptance by renowned brands such as AMC theatres. Moreover, the much-awaited listing on Robinhood will be a major boost, as it will reinforce the sentimental beliefs.
Coming to the monetary terms, SHIB price at press time is trading at $0.00003220 with gains of 14.8%. The volume of trades of Shiba Inu is at $1,534,618,427, while the market cap is floating at about $17,701,822,479. Talking about returns on investments, the YTD returns are an astounding 29327898.6%, whilst the month of October was bullish with 1182.17% gains. The returns since the end of October till date are negative by 63.05%.
The protocol has been emerging as an alternative to Ethereum. With the lucrative perks its protocol has on offer, lower gas fees have been the USP of Polygon. The count of adoptions, and integrations have been extremely overwhelming for the fraternity. Polygon with its ZK-Rollups, and the incoming London hard fork EIP-1559, is geared up to take on the likes of L-1s.
Consecutively, the activation of the London hard fork, which is scheduled on the 18th of January, will be done once block 23,850,000 is validated. The upgrade will help in the burning of tokens, with which MATIC tokens will be burned out of circulation enabling users to get clarity on their fees.
The price action of MATIC has been enthralling for the geeks of the protocol. MATIC at press time is valued at $2.36, with profits up by 1.4%. The volume of trades tallies at $1,477,720,340, while the market cap floats around $16,232,465,878. Coming to returns on investments, the YTD returns are praisable at 8906.8%, the returns since October to date are at 114.56%. The digital asset had recently peaked to its ATH of $2.92, which was over a fortnight ago.
Summing up, the community of meme coins has been one of the strongest and praisable ones in the crypto fraternity. Space would need a major impetus to reinstate bulls for a run to the moon. We can look forward to Polygon making its entry to the top-10, with its fundamentals and utility. Since Polygon holds a relatively lesser market cap than Doge And Shib, it would need a lesser monetary influx to enter the top-10 league.