Dogecoin (DOGE)’s success came to an end after Elon Musk-backed enthusiasm. For some, the popularity of the meme coin was just marketing. In this article, let’s list the best Dogecoin alternatives from the list of analyst Sayantani Sanyal that can bring high returns to investors in 2022.
Dogecoin is losing its dominance, pushing its rivals even higher
- Ethereum (ETH) works as a platform for a multitude of other cryptocurrencies as well as decentralized execution of smart contracts. Investors are looking forward to the launch of the ETH 2.0 upgrade aimed at making the network more agile, transparent and environmentally sustainable, making ETH a pretty big competitor for Dogecoin.
- Shiba Inu (SHIB) quickly gained in value with headlines and tweets from influencers like Elon Musk and Vitalik Buterin. It was worth mentioning in the list due to Shiba Inu’s long-standing rivalry with Dogecoin.
- Polkadot (DOT) is an open-source multi-chain protocol that connects Blockchain networks. DOT was originally designed to provide a foundation for a decentralized blockchain internet, commonly known as Web 3.0.
- Monero (XMR) allows transactions to occur privately and anonymously. It was designed to hide senders and receivers alike using advanced encryption.
- Cardano (ADA), an environmentally friendly PoS Blockchain platform. Led by Charles Hoskinson, the team behind it has created some compelling use cases for its technology aimed at allowing decentralized applications and smart contracts to be developed with modularity.
- Algorand (ALGO) is a self-sustaining, decentralized, Blockchain-based network that supports a wide variety of applications. These systems are secure, scalable and efficient, which are crucial features for effective real-world applications.
- Polygon (MATIC) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a modular, flexible framework that supports building multiple application types.
- Cosmos (ATOM) aims to provide an ecosystem of interconnected Blockchain networks, offering an antidote to slow, expensive, unscalable and environmentally harmful PoW protocols such as those used in Bitcoin.
- Ocean Protocol (OCEAN) is a Blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and earn money using ERC-20-based data tokens. With the help of this cryptocurrency, publishers can monetize their data while maintaining privacy and control.
- Ethereum Classic (ETC) is a hard fork of the leading smart contract platform Ethereum. Since its launch, it has sought to differentiate itself from Ethereum. With ETH 2.0, miners are slowly migrating to the ETC network.
Dogecoin price is showing downward momentum, as we have covered in the analysis of Cryptokoin.com. You can find up-to-date technical analysis here.
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