November is bringing a lot of changes to cryptos. It will be interesting to see how different coins react in such an uncertain environment. With China outright banning ICO’s and shutting down local exchanges, deeming them illegal, many people feared the worst. But some coins have already bounced back!
The altcoins covered in this article have been performing well and promise tremendous growth as we fully emerge from the dip that happened earlier this year.
Shiba Inu (SHIB)
The one coin that took everybody by surprise last month was Shiba Inu. The Japanese breed of dog skyrocketed from a price of $0.00000682 to a whopping all-time high of $0.00004559 in no time! That’s an increase of almost 400% in a single month, earning Shiba Inu the title of 11th-biggest crypto coin.
Shiba was founded in 2020 by Ryoshi, an anonymous developer who is no stranger to cryptocurrencies. Do not confuse it with Dogecoin, another memecoin that sports the same dog as a mascot. One difference between both is their market value. Dogecoin is valued at #33 billion, while SHIB sits at $21 billion.
Shiba Inu has the fundamentals to back its rise. It recently joined Coinbase, which is currently one of the most popular exchanges out there. The SHIB ecosystem has also released their non-fungible tokens, or NFTs, already completely sold out. Its low price is also enticing, opening it up to a much wider audience.
Since Shiba Inu is categorized as a memecoin, it can be difficult to estimate when and how prices will swing, but one thing’s for sure: The token has gained more than 40,5000,000% this past year, and that’s nothing to scoff at.
The most famous cryptocurrency out there is still going strong, surpassing its all-time high after six months. Bullish predictions are running rampant now that Bitcoin has doubled its value already this year. Many analysts predict the price to surpass $100,000 by the end of the year, which is no surprise since the year has been marked with bullish behavior.
While not as explosive as Shiba Inu, Bitcoin saw growth of more than 30% this month. Concerns over Bitcoin’s environmental impact are still prevalent, with estimates that Bitcoin will consume as much energy as a small country this year. New and greener cryptocurrencies like Sharder and Nano, however, promise to solve that problem.
At the moment, Bitcoin is still by far the biggest cryptocurrency in terms of market capitalization. Others such as Ethereum and Ripple are catching up fast, though. One thing’s for certain: Bitcoin will remain a dominant force within crypto markets for years to come. Forbes reported that cryptocurrency experts predict the price of Bitcoin jumping to $2500,000 by 2025 and $5 million per bitcoin in 2030.
If you heard that the ship has sailed and it’s too late to invest, think again! Those were just unsubstantiated rumors, and Bitcoin’s recent behavior has gone to show that this is still a market you can’t miss out on.
Mooncoin is a bit of an oddball in the cryptocurrency market. It was launched in 2013 with the main goal of being used as an alternative to Bitcoin. However, the project fizzled out, and nothing much has been heard from Mooncoin ever since. It was created around the same time as Dogecoin and used for the same purpose of microtransaction, which might explain why it was overshadowed.
Another reason why Mooncoin was stagnant was due to their lead developer suffering from health issues. That is until a couple of months ago when Mooncoin reinvented itself with new leader James Burk, a former Microsoft engineer.
MOON reached an all-time high of near $0.0004000 before going back down its normal price in terms of numbers. This spike might not be as impressive as Shiba’s 400%, but percentage-wise, Mooncoin saw a growth of more than 20%. MOON currently sits at $0.00000352 with a market cap of $4,573,696.
Mooncoin has been around for years and is nothing like the other cryptocurrencies we’ve mentioned here. But if you’re looking for broad growth, consider investing in MOON – you might be surprised with how it’ll play out!
Ethereum is another big player in the game, arguably this year’s most valuable player. The second-biggest cryptocurrency has also produced some staggering growth numbers this year – Ether’s current price sits at $4,000, representing more than quadruple its value from January 2021!
Ethereum might not be the best choice for short-term gains, but if you’re willing to invest long-term, Ethereum’s price is expected to surge even further. Their explosive growth is partly due to NFTs, which are a big hit among investors. Ethereum’s scope is also pretty impressive, with several industry giants behind it like Microsoft and JPMorgan Chase.
Smart contracts are at the heart of Ethereum, and they’re paving the way for a new era of decentralized applications. As more businesses become interested in exploring blockchain, Ethereum’s job just got easier. While many are skeptical about cryptos like Bitcoin or other conventional currencies, there is no doubt that Ether has real value.
Some analysts claim that Ethereum could overtake Bitcoin in the future, much like how Bitcoin replaced Litecoin in 2017. But for now, Ethereum still has a lot of catching up to do against its big brother. Ethereum is expected to dominate the market throughout 2022 and beyond, and it’s currently second in terms of market cap with just shy of $500 billion.
It’s important to note that the current version of Ethereum faces many problems, some of which might be holding it back from reaching its full potential. The team behind Ethereum is working on a new version of the platform called Ethereum 2.0, which should fix many problems plaguing Ether’s network for months now – including scalability and interoperability issues.
Gas fees and transaction times have been a nightmare for Ethereum and its users in the past few years. While conditions might be better now, they still aren’t perfect; thousands of transactions are stuck in limbo due to scaling issues. Bitcoin has similar problems, but the problem is more serious with Ethereum.
Power usage has also been a big issue with the platform, but their new version of Ethereum should bring that down. Ethereum 2.0 is set to change the entire ecosystem in a few years, and it might even attract users who were hesitant to try out Ether in the past!
Dogecoin was created as a joke, but it has ended up being pretty darn successful. Dogecoin’s growth pales compared to the other cryptos mentioned here, but it has still seen considerable gains since January 2021. Dogecoin is another old-timer with years of experience under its belt. With a market cap just shy of $356 billion, it saw its value go up 9.57K% this past year.
If you’re considering investing in Dogecoin, consider doing so long-term and steady. Just like Ethereum, the DOGE market is expected to keep growing but expect high volatility along the way. Not to worry, Elon Musk is always there to help price swings by tweeting or making an announcement about his favorite crypto.
Baby Doge (BabyDoge)
This cute little pup is guaranteed to be a cash cow in 2021! We’re not kidding – Baby Doge was on the up-and-up in 2020, and we expect it to continue into next year. With a current price of $0.000000001674 and a market cap of over $10 billion, Baby Doge just surpassed 690,000 coin holders!
Whether it’s all hype or not remains to be seen, but there’s no denying Baby Doge has huge potential. While it might sound like a joke coin, in the beginning, this puppy has all the right things going for it in terms of investor demand and startup capital. Baby Doge saw its value go up 141.6% last month and shows no signs of slowing down.
A great way to diversify your portfolio if you have a few extra dollars.
Cardano is an open-source, decentralized public blockchain platform that was created in 2015. Intending to facilitate peer-to-peer transactions, even government agencies have taken a liking to it.
Cardano is a highly reputed, fully transparent company that isn’t as “shady” as other cryptocurrency companies. The digital currency community must get behind up-and-coming cryptos like Cardano, and we expect big things from this coin in 2021.
The market cap for Cardano is valued at $70B, with prices increasing by over 1,000% this year. ADA is currently worth $2.10, so it’s still affordable for most users. We see no reason why it wouldn’t continue to perform well in 2021, so if you have some extra cash lying around, consider investing now!
Cardano is worth investing in because it is programmable, which means it’s not just a currency, but can also be used as a token for smart contracts. Applications beyond crypto are already being developed with this blockchain at the forefront of technological advancement. It is also more environmentally friendly than Bitcoin and Ether due to its proof-of-stake consensus mechanism.
Top Cryptos to Watch in November Conclusion
This year has been a rollercoaster ride of emotions for investors, but the future of cryptocurrency is looking bright. While new cryptos are popping up left and right, it’s important to note that established names like Bitcoin, Ether, Dogecoin, and others are still here to stay.
As mentioned before, Ethereum 2.0 is set to be released in a few months, and it might be a catalyst for growth in crypto markets. Ether, Dogecoin, and Baby Doge are all good ways to make big bucks with low startup capital – but keep your expectations realistic!
This next year will prove interesting, and we’re excited to see how things unfold. Stay tuned for future updates!