The historic earnings of the Shiba Inu (SHIB) have turned patient crypto investors into millionaires. But according to crypto analyst Sean Williams, unfortunately, the Shiba Inu has numerous flaws that could cause it to lose much of its value. On the other hand, the analyst thinks that the five altcoins will outperform SHIB in the long run. we too cryptocoin.com We have prepared Sean Williams’ SHIB statements and recommended altcoin projects for you.
Shiba Inu (SHIB) has earned over 13,200,000%!
Over the past few years, dozens of widely followed cryptocurrencies have crossed the broader market multiple times. Chief among these is the ultra-popular meme coin Shiba Inu. (SHIB) is coming. Late on the evening of November 2, a single SHIB token will set an investor back $0.00006738. Considering Shiba Inu was at the beginning of August 2020 ($0.00000000051), SHIB tokens earned 13,211,665 in 15 months. If you invested and held $10 on August 1, 2020, you are now a millionaire.
According to the analyst, SHIB’s historic earnings are the result of many factors. First, a growing number of cryptocurrency exchanges are listing SHIB tokens for trading, which raises awareness and builds the community. The July launch of the decentralized exchange ShibaSwap allows investors to stake their tokens and more importantly encourages them to hold SHIB longer. Elon Musk’s tweets fuel earnings. Although Elon Musk does not own Shiba Inu coins, he recently adopted a Shiba Inu puppy named Floki. Whenever Elon Musk tweets about his dog or breed, investors pile on SHIB. To the left, while there are a few ways to bet against the Shiba Inu, there is a clear emotion-driven buying bias fueling this run.
“SHIB’s dream run will finally explode”
But on the other hand, the analyst says there are a number of reasons to believe the Shiba Inu will explode. For example, SHIB has almost no use outside of a cryptocurrency exchange. You would think that the 11th largest cryptocurrency by market capitalization would be accepted by roughly 100+ businesses, but that’s not the case.
According to the analyst, SHIB also fails the sniff test when it comes to competitive advantages. This means that the Shiba Inu does not stand out when it comes to its ability to process transactions. On the other hand, it is not even the only successful cryptocurrency inspired by the Japanese Shiba Inu dog breed. Additionally, Shiba Inu is constantly being diluted by other Blockchain projects. To be frank, the analyst states that there are much more efficient and/or cheaper token options than Shiba Inu. Because, according to the analyst, even history says the Shiba Inu is in big trouble, and other coins with a five- and six-digit percentage eventually lost more than 90% of their value.
According to the analyst, the future of these cryptocurrencies is much brighter than the Shiba Inu (SHIB)
Crypto analyst Sean Williams sees much more potential and a brighter future for the following five altcoins compared to Shiba Inu. Here are the altcoins on the analyst’s list:
Ethereum (ETH)
Ethereum is arguably the most established cryptocurrency on this list. According to the analyst, this is because Ethereum is the backbone of blockchain, decentralized finance (DeFi). DeFi uses financial-focused Blockchain smart contracts to complete transactions that might otherwise be slowed or halted by financial institutions. The analyst emphasizes that these smart contracts, which are protocols designed to validate, enforce and facilitate an agreement between two parties, are the heart and soul of what drives Ethereum.
Stellar (XLM)
Blockchain-based payment network Stellar is another cryptocurrency that the analyst believes has a future. Using today’s infrastructure, cross-border payments can take up to a week to be verified and paid. With Stellar, fiat currency can be converted to Lumen (the network’s protocol symbol XLM), transferred halfway around the world, and converted back to local fiat in seconds. The cost to complete the transaction is just 0.00001 XLM, which means $0.0000038 per transaction. It takes more than 263,000 transactions to charge just $1.
Left (LEFT)
Another digital currency that the analyst thinks has superior potential against the Shiba Inu in the long run is Solana. Like Ethereum, Solana Blockchain is all about combining smart contracts and allowing developers to build decentralized applications (dApps). But the analyst recalls that unlike Ethereum, Solana brings a number of notable advantages to the table on the efficiency front.
Solana’s Proof of History (PoH) protocol, which accurately identifies events without requiring validators to talk to each other, significantly increases the processing speed of transactions. While Ethereum processes about 13 transactions per second, Solana can process 50,000 or more transactions per second. Similarly, Solana seems to have an advantage over Ethereum in terms of fees.
nano (NANO)
For something completely off the radar, the view is for the Nano (Crypto:NANO) purely Shiba Inu for better performance in the long run. Nano is the 117th largest digital currency by market capitalization ($820 million as of November 2). “For something completely off the radar, look for the Nano that will outperform the Shiba Inu completely in the long run,” the analyst says. Nano ranks 126th by market cap.
The goal of financially driven Blockchain is to democratize the process to speed up payment settlement times, significantly reduce costs, and allow anyone to participate. Instead of having a single Blockchain, each user on Nano has their own Blockchain that they can add without having to compete with other users. This makes Nano’s network scalable and highly efficient, with the average transaction completed in less than a second, according to the analyst. Another thing that stands out is Nano’s free transactions.
Cardano (ISLAND)
Finally, the analyst sees a much brighter future in Cardano than in the Shiba Inu. The analyst thinks that even though Cardano has experienced development delays, it has provided a clear vision of the steps developers will take to develop and grow the network. In the summer of 2020, the Shelley upgrade was released, increasing the number of nodes network participants can run. Following Shelley, the number of transactions on Cardano’s Blockchain has grown from around 2,000 per day to over 100,000 per day. Also, the highly anticipated Goguen update was announced in September 2021.
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