In the world of speculative meme tokens, Shiba Inu (SHIB-USD) remains one of the most-followed tokens. This meme project saw an incredible rise during the last crypto hype cycle, before falling markedly from its peak.
That said, with this latest round of bullish sentiment building in the market, Shiba Inu and its meme token peers are once again showing signs of life. However, given Shiba Inu’s massive size, many investors are now betting other altcoin projects could have more upside on a relative basis.
Here are three such cryptos that are better than Shiba Inu this cycle.
Jupiter (JUP)
Jupiter (JUP-USD) has been on the move over the past week, seeing significant volatility. The token has fluctuated in a range of around 70 cents to more than $1 per token, showing what many are calling a “peak and trough” pattern in terms of its technicals.
I think Jupiter certainly has the potential to break out in a big way from this range, for several reasons. A key Solana (SOL-USD) decentralized exchange aggregator, Jupiter essentially pools liquidity from various DeFi platforms. Providing token swaps with relatively low transaction fees, Jupiter has eaten significant market share on the Solana blockchain, with some estimates putting Jupiter’s market share on this network at around 80%.
Notably, Jupiter popped after the project’s developer team announced a partnership with the cat-themed token WEN Token (WEN-USD). The collaboration aimed to boost Jupiter’s message via the Jupiter Work Group (JWG) and WEN Work Group. That led to increased investor interest and market activity, propelling both JUP and WEN tokens to notable value hikes, with JUP hitting an all-time high of $1.034.
For those looking for meme-like returns from a DeFi project, Jupiter is certainly a project to keep an eye on moving forward.
Maple (MPL)
Maple (MPL-USD) stands out in the world of decentralized crypto lending, offering loans with less collateral than traditional lenders. Its recent airdrop sparked interest, boosting engagement and network activity. CEO Sid Powell aims to expand into Asian markets, emphasizing the need for clear U.S. crypto regulations.
Maple Finance dominated its DeFi rivals in the week ending February 19, seeing remarkable growth in total value locked (TVL) and revenue. Despite sluggish MPL price and modest developer activity, Maple Finance’s financial metrics surged, outpacing competitors by over tenfold.
Since its January 2024 launch, the Maple Lender Portal attracted over 300 accounts, signaling rapid market adoption. Maple Finance aimed for Asian markets in 2023 and expanded to the Base network post-Ethereum (ETH-USD) and Solana integration. CEO Sid Powell emphasized the need for clear U.S. crypto regulations, targeting capital formation and on-chain credit funds. Maple seeks to navigate Asia’s regulatory landscape by leveraging financial hubs like Hong Kong and Singapore. If the project can accomplish its global ambitions, plenty of upside could be on the horizon.
Dogwifhat (WIF-USD)
Now, for investors looking to gamble some of their hard-earned capital for big gains, Shiba Inu’s previous rise has led to an astounding market capitalization. Finding other under-the-radar meme tokens with more upside (mathematically speaking) may be the better bet.
Red-hot meme coin dogwifhat (WIF-USD) may be the project to focus on.
Personally, I’m not a fan of what I view as “hardcore” meme tokens — those with little utility aside from their core communities. However, dogwifhat certainly has a growing community and plenty of momentum. Those are the two key ingredients most speculators look for. And with the project raising $690,000 in four days, it’s clear investors are willing to put their money where their mouth is and back this token.
While dogwifhat remains highly popular and could certainly surge higher from here (that’s why it’s on the list), it’s a complete gamble of an investment. I have no idea which direction this token will trend over any given time frame. Thus, I think investing in such projects is something only those with the most incredible stomachs for volatility should take on.
That said, for those seeking life-changing returns, it’s worth talking about at the very least.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
