Cryptocurrencies that have real potential in 2023
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Cash is dead; crypto is king. Since 2010 cryptocurrencies have been gaining traction in the financial world, and with a market that has now amassed trillions of dollars, the days of the paper currency are looking grim.
Being the pioneer of the field, Bitcoin has led the pack regarding digital currencies. Yet over the years, various cryptocurrencies have established themselves as fierce competitors, each with unique features and use cases. As people continue to uncover the advantages and safety features of these digital assets, many investors are searching for the next big opportunity. Three cryptocurrencies—XRP, Shiba Inu, and Dogetti—are on the radar of having the potential to dethrone Bitcoin in 2023.
In 2012, Ripple Labs developed XRP – a digital currency that has become popular due to its ease of use. It was designed to be a fast and secure way of sending money globally. XRP's main goal is to revolutionize how payments are made across borders, offering faster and cheaper transactions. One of the main advantages of XRP is that it is decentralized, meaning that no single entity has control over it.
Nicknamed “Ripple,” XRP has been making ripples in the world of crypto as of late. It was in the news recently due to its legal battles with the US Securities and Exchange Commission (SEC). The SEC has accused XRP of being an unregistered security and has filed a lawsuit against Ripple.
Despite this legal battle, XRP has continued to perform very well in the crypto market. Many investors see the legal battle as a potential opportunity for XRP to prove its worth as a legitimate cryptocurrency. XRP has shown it has a lot of potential, especially if its legal battles turn out to be in its favor.
In 2023, XRP became one of the most significant cryptocurrencies due to its partnership with various financial institutions. It is a lightning-fast, secure currency, with transactions typically taking only a few seconds to complete. With this, Ripple Labs has been working tirelessly to promote the use of XRP in cross-border payments and has already seen several financial institutions embrace the technology. The use of XRP is expected to grow significantly as more financial institutions integrate it into their payment systems.
Another factor that could drive the value of XRP in 2023 is its low transaction fees. Unlike traditional payment methods that charge high fees for cross-border transactions, XRP charges a small fee, making it an attractive option for businesses and individuals.
Shiba Inu, or one of the popular “meme coins” as they are called, is a relatively new cryptocurrency that was created in 2020. It is a decentralized cryptocurrency that operates on the Ethereum blockchain. Shiba Inu is often referred to as the “Dogecoin killer,” which is often parodied due to its similarities with Dogecoin.
Shiba Inu has gained visibility due to its unique features, such as Shibaswap decentralized exchange, where users can swap different cryptocurrencies, and the Shiba Inu non-fungible token (NFT) platform, where users can buy and sell unique digital assets.
Another factor contributing to its popularity is the fact that it is a zero-emission token aimed at protecting the environment and supporting activists in this field. While 24% of investors are still willing to buy traditional cryptos like bitcoin, 76% say they want cryptocurrencies to become more environmentally friendly. Shiba Inu could be the perfect coin for the socially responsible investor.
Shiba Inu's popularity due to media platforms such as Twitter and its now CEO, Elon Musk, often promoting it has made it one of the most recognizable digital currencies even to non-users. On Twitter alone, it has over one million followers. This popularity of Shiba Inu could translate into increased demand for the cryptocurrency, driving up its value. In fact, at one point in 2021, Shiba Inu had a market cap of over $10 billion.
While its value has since dropped, Shiba Inu is still a cryptocurrency that is worth watching. Its popularity and strong community support make it a cryptocurrency that has grown from humble beginnings into something that could potentially make 2023 one of the most sought-after digital currencies on the market.
Dogetti is a cryptocurrency that was created in 2021 with its decentralized cryptocurrency operating on the Binance Smart Chain. Dogetti was designed to be a fast and secure way of sending and receiving payments, often rivaling XRP with its low transaction fees and fast transaction times.
Dogetti has gained a lot of attention for its charitable efforts, with its owners pledging charity for animal welfare and often giving back to its members. Every time a transaction is made on Dogetti, two percent of the transaction value is automatically redistributed to those with tokens in their account. As a result, investors are rewarded by simply owning tokens and having them in their accounts.
The company has also set aside a charity wallet to which 2% of its total funds are allocated, and members can choose which charities they want to support with these funds. Additionally, the remaining 2% is divided amongst their liquidity pool and burn wallets, ensuring there is enough capital for future projects.
With its charitable efforts, Dogetti has grown in popularity with members of the crypto world, separating it often from the “meme” effects of the rival Shibacoin. With this popularity, it has gained an ever-expanding presence on social media such as Reddit. It is rapidly becoming a growing coin not only sought after for its value but for the way the company gives back to the community and its members.
As Dogetti begins to gain traction amongst a larger audience, the demand for it may proportionally increase as well, leading to an increase in its price and growth as a digital currency.
Dogetti is also unique in that it is a cryptocurrency backed by real-world assets. The creators of Dogetti have purchased a significant amount of real estate in Italy and have pledged to back the value of their cryptocurrency with the value of these assets.
This makes Dogetti a potentially more stable cryptocurrency than others on the market. With its stability and popularity, it is expected to gain even more traction by 2023 and could become one of the most significant cryptocurrencies in the world.
XRP, Shiba Inu, and Dogetti are three cryptocurrencies worth watching in 2023. Each of these cryptos has unique qualities that make it a potentially valuable investment.
XRP's established reputation and legal battles make it an interesting cryptocurrency to follow, while Shiba Inu's popularity and strong community support make it a cryptocurrency that could continue to grow in value. Finally, Dogetti's backing by real-world assets and charitable efforts makes it a cryptocurrency with the potential for stability and community support.
As always, investors should do their research before making any investment decisions, and the best place to do that is on Kitco.com. Head over for the latest crypto news and statistics.