Are you looking for a crypto investment that could produce boundless returns — figuratively speaking, of course? Two ways a token could considerably outperform the vast pack of altcoins. One is to become universally adopted as a form of payment, and another is to decrease supply while increasing demand perpetually. Here are three tokens that fit into those two categories.
Dogecoin (DOGE), The Official Currency of Mars?
Dogecoin has been a phenom among meme tokens. While it started as a joke, it has seen a resurgence in recent years partly because Elon Musk has essentially adopted it. Elon has even hinted that DOGE could be the official currency of Mars someday and that he plans to put a Dogecoin on the Moon.
Today, the token is accepted by some retail giants like AMC Cinemas, GameStop, NewEgg, and Tesla (merch only), among many others. Very few cryptocurrencies have achieved this status. This puts DOGE in the odd position of going from a joke to becoming a serious contender for the legendary “native cryptocurrency of the Internet” status.
If DOGE continues to see mass adoption and regains any of its previous four highs, it would produce either 150%, 350%, 500%, or even as much as 900% returns from today’s price of just under eight cents.
Shiba Inu (SHIB), Lots of Itty Bitty Tokens
Another popular dog meme coin, Shiba Inu (SHIB), was launched in 2020 by a pseudonymous founder named “Ryoshi.” A lot of SHIB fans think of their dog as a DOGE killer.
The SHIB development team is busy concocting a Defi project they call Shibarium Financial Ecosystem, including a native, dollar-pegged, algorithmic stablecoin.
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SHIB tokenomics are off the chart. The token boasts a circulating supply of exactly 549,146,987,315,505. The price of SHIB is currently hovering around $0.00001. For a fist full of dollars, you can own millions of them.
But don’t let that tiny fraction fool you; the coin recently posted a 24-hour trading volume of nearly $350 million and is the 17th largest token by market cap. Moreover, SHIB tokens are slowly being burned (taken out of supply), producing a highly desirable deflationary tokenomics.
Technical analysis suggests that Shiba Inu (SHIB) has been in a bullish trend for the past few weeks and could pull a 4x in the near- to mid-term. In the long-term, it could surpass its all-time high of $0.00008, bringing 8x returns.
Gnox Token (GNOX), Headed for the Heavens
Gnox Token, although it’s not a dog, is an interesting animal. While the supply of DOGE constantly goes up to pay miners, the GNOX token is designed to produce a constant reduction in circulating supply. The idea is to continually increase demand while reducing supply to achieve parabolic price performance.
GNOX is considered a DeFi utility token. A portion of the circulating supply is used to invest in passive income-producing assets such as liquidity pools and staking and lending platforms. All investments are screened by a team of DeFi analysts to find the lowest risk/highest return assets.
Returns from these activities are then used to buy GNOX tokens on the open market. Those tokens are then removed from the circulating supply, which boosts the token’s spot price. The sky is the limit when you combine ever-growing demand and forever-falling supply.
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Gnox Token is currently in presale mode. It has built-in incentives for early adopters, such as a 1% royalty on all sales airdropped to current holders once every hour.
Presale runs until July 12th, and the platform officially launches on July 18th.
