Cryptocurrencies have earned investors incredible returns over the last year. Dogecoin had been one of the best performers, with the cryptocurrency seeing most of its gains earlier this year. However, ever since it peaked back in May, Dogecoin hasn’t come anywhere close to its all-time high.
The token, which was originally created as a joke, gained a tonne of notoriety when Elon Musk, currently the richest person in the world, began tweeting about it.
This led to a tonne of speculation on Dogecoin and made it one of the most valuable cryptocurrencies. However, as many analysts and cryptocurrency experts had pointed out, this massive rally made little sense.
Dogecoin solved no problems, and it was well known that it was created as a joke. Furthermore, the digital coin gained value so quickly that it was worth more than several other cryptocurrencies that had far more long-term potential.
So, it’s not surprising that Dogecoin has been in a consistent downtrend since reaching its high. And despite the fact that it’s roughly 66% off its high, the cryptocurrency is not worth an investment.
There are far better places to put your capital today, especially with all the potential the industry has to offer. So, if you’re looking for a high-potential cryptocurrency to invest in today, here’s one that I think has a lot more upside than Dogecoin.
Forget Dogecoin: CRO has a lot more potential
Over the last year, with the revolution in cryptocurrencies, you may have started to notice a tonne of advertising from Crypto.com. The company bills itself as the world’s fastest-growing cryptocurrency application and allows users to buy over 150 different cryptocurrencies, including Dogecoin.
It also offers credit services backed by crypto that lets users earn up to 8% cash back on all the cash they spend. But why does this all matter?
Crypto.com also has its own coin, called the Crypto.com Coin. The coin allows users to get discounted trading prices as well as qualify for more rewards. So, as with other exchanges and platforms, generally, the more users coming to its platform to buy cryptocurrencies, the more demand there is for the coin.
So, with Crypto.com spending a tonne of capital on marketing its business and, in turn, bringing tonnes of new users to its site, the demand for the Crypto.com coin should naturally continue to rise. This catalyst is one of the main reasons why I’d buy it over Dogecoin.
Over the last year, it’s announced major marketing deals with UFC and Formula One, and it now has Matt Damon as the face of its brand. And earlier this week, it announced the new naming rights to the Staples Center in Los Angeles, one of the most iconic entertainment venues in America.
So, it’s not surprising that the coin has been on a tremendous run. While crypto markets have been selling off over the last week, CRO coin is up by more than 50% over the last seven days, as of Friday morning.
The coin is now the 16th most valuable cryptocurrency with a market cap of $13 billion, still considerably less than Dogecoin, which has a $30 billion market cap.
So, if you’ve been thinking of buying Dogecoin, I’d strongly recommend you consider a higher-potential cryptocurrency, such as the Crypto.com Coin, instead.