The Shiba Inu (SHIB) has come a long way in a short time. What started as a pure joke two years ago took off in 2021. Many investors now expect big profits in the future. According to one price prediction, the average Shiba Inu owner expects the altcoin price to double in 2023. Also, the same audience is betting that the price will quadruple by 2025.
“These 2 altcoins could dwarf SHIB tokens”
The accuracy of this prediction, taken from the analysis of the chats of users of the Changelly exchange, is open to debate. However, there are a few altcoins on the market that should get even better in the next few years. Among them, two stand out, according to consulting giant Motley Fool. According to the firm, these 2 cryptocurrencies have the potential to dwarf SHIB in the future. These are Algorand (ALGO) and Polkadot (DOT).
Smart contract platform Algorand (ALGO)
Algorand (ALGO) is a decentralized smart contract platform similar to Ethereum. This Blockchain network emerged with speed and low transaction fees. Algorand’s fees are currently around $0.0004 per transaction, compared to Ethereum’s average transaction fee of $0.70. The altcoin managed an average of 1.1 million transactions per day this week alone, while Ethereum handled 330,000 transactions. Despite this, Ethereum has managed to attract more and more developers.
This is largely due to antiquity, Ethereum launched in 2015, Algorand in 2019. However, Algorand is currently working on a bridge protocol that will make its platform fully compatible with code developed for Ethereum. This tool will allow the two systems to compete on an even playing field. Algorand doesn’t need to beat Ethereum to be a successful investment, it just needs to get some of the attention. This growth opportunity is much more exciting than the limited availability of the Shiba Inu.
Leading Web3 infrastructure Polkadot (DOT)
The Polkadot network takes a different approach to smart contracts and digital transactions. Polkadot isn’t trying to be the best at one of these functions. Instead, it aims to connect other crypto projects. This way, a Polkadot developer can take full advantage of the best qualities in each altcoin while avoiding its downsides. Meanwhile, Polkadot has a multi-level system of parachain auctions and mass loans. In this way, the platform provides direct financial support to new projects.
Also, this project was created by Ethereum co-founder Gavin Wood. Long story short, Web3 is a radical redesign of the internet as we know it, and Polkadot is working hard for it. The analyst acknowledges that the price of Polkadot may not double next year or quadruple until 2025. However, he characterizes Polkadot’s long-term growth prospects as tremendous as a key component of the next-generation internet. Regardless, altcoin is more useful than SHIB coin.
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