Why Solana and These 3 Other Cryptocurrencies Have More Upside Than Shiba Inu in 2022

Rather than speculating on Shiba Inu in 2022, here’s why Solana and these three cryptocurrencies offer far more growth potential today.

| More on:

Shiba Inu (CRYPTO:SHIB) saw one of the biggest and fastest rallies of 2021. As a result, the meme coin has gained a tonne of popularity. And even though it sold off from its high, its rally was so incredible that SHIB continues to be the 13th most valuable cryptocurrency today. However, despite its popularity, there are several cryptocurrencies that are far better long-term investments, including Solana (CRYPTO:SOL).

Don’t get me wrong; the popularity and community Shiba Inu has are impressive. But as a long-term investment, despite this popularity and past performance, though, there are many reasons to avoid Shiba Inu. For one, it’s extremely speculative, as is evident when looking at its chart.

Furthermore, though, Shiba Inu offers little differentiation to tonnes of other coins. While you can stake it now, and there are places to spend it, far more tokens and coins offer much more long-term potential, all while being less speculative and volatile.

So, if you’ve been considering an investment in Shiba Inu, here is why Solana and these three other cryptocurrencies have much more upside in 2022 and beyond.

Here’s why Solana and these three cryptocurrencies shoud outperform Shiba Inu

Because Shiba Inu doesn’t offer much differentiation or exposure to any protocol that’s revolutionary, there are plenty of better cryptocurrencies out there.

For one, Ethereum (CRYPTO:ETH), the second most valuable cryptocurrency by market cap, is a better investment. Not only is Ethereum one of the most popular blockchains, but 2022 should be a huge year as it upgrades to Ethereum 2.0.

Solana is another cryptocurrency that’s already seen a massive gain. That’s because it’s a blockchain network, much like Ethereum, that boasts some of the best technology and highest speeds.

As you can see, the trend so far is a lot of the most popular and most valuable cryptocurrencies. There is a reason that these coins are at the top. Any project that has the potential to grow in popularity should be worth an investment.

So, if you’re an investor that’s hoping to find cryptocurrencies with a tonne of growth potential, here are two more with less value than Solana or Ethereum that could still grow significantly in value and outpace Shiba Inu this year.

Two undervalued cryptocurrencies to buy for 2022

Fantom (CRYPTO:FTM) is another high-potential blockchain, and one that’s compatible with Ethereum. This gives it a tonne of advantages and potential to grow, as the industry expands over the long run. Plus, right now, Fantom is considerably cheap, which is why it’s one of my top recommendations for 2022.

In addition, SushiSwap (CRYPTO:SUSHI) is another top project that you may want to gain exposure to and which should almost certainly outpace Shiba Inu this year. SushiSwap is a decentralized exchange that acts as an automated market maker. So, investors can deposit their crypto on SushiSwap and earn passive income in return, which is why it’s such an excellent investment.

So whether you want to invest in the top cryptocurrencies such as Solana, or an up-and-coming cryptocurrency like Fantom, as long as you find assets that have real potential and can differentiate themselves from their competition, then it’s an investment you can have confidence buying for the long haul.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Daniel Da Costa owns Ethereum, Fantom, and SushiSwap. The Motley Fool owns and recommends Ethereum and SushiSwap.

More on Investing

rain rolls off a protective umbrella in a rainstorm
Dividend Stocks

Building a $50,000 Portfolio That Can Weather Any Market Storm

This defensive investment portfolio uses three ETFs to ride out any recession.

Read more »

Two seniors float in a pool.
Retirement

Want to Retire Rich? 3 TSX Stocks to Add to Your Portfolio Now

These TSX stocks could deliver above-average returns in the long run, helping you build wealth over time and retire rich.

Read more »

a person watches a downward arrow crash through the floor
Dividend Stocks

Top 3 TSX30 Winners: Understanding the Recent Stock Drop

Three TSX30 winners in 2024 have experienced price drops this year and continues to underperform due to massive headwinds.

Read more »

space ship model takes off
Dividend Stocks

Where to Put $12,000 in Today’s Market for Potential Long-Term Gains

There's no shortage of great investments that can provide potential long-term gains. Here's a look at three stellar options.

Read more »

Hand Protecting Senior Couple
Retirement

Avoid the OAS Clawback: Dividend Strategies Every Retiree Should Know

With a smart dividend strategy, the OAS clawback can be minimized or even avoided entirely for retirees. Here's how.

Read more »

Canadian dollars are printed
Dividend Stocks

How to Use $10,000 to Transform a TFSA Into a Cash Machine

Do you want growth and income? Consider these top investments that offer up monthly income in spades!

Read more »

TFSA (Tax free savings account) acronym on wooden cubes on the background of stacks of coins
Dividend Stocks

Building a $28,000 TFSA Portfolio One Contribution at a Time

Let’s take a look at how you can turn a $28,000 investment in a TFSA into a life-changing fund for…

Read more »

senior relaxes in hammock with e-book
Dividend Stocks

Making Your $25,000 TFSA Investment Work Harder for the Long Term

This strategy reduces risk while still providing a solid return.

Read more »