Shiba Inu (SHIB) and Dogecoin (DOGE) having a hard time keeping up with utility projects like HedgeUp (HDUP)
Shiba Inu (SHIB) and Dogecoin (DOGE) are the only two meme coins in the Top 20 cryptocurrencies based on market cap. With a market cap of around $10 billion, Dogecoin (DOGE) is currently the 8th largest cryptocurrency. Shiba Inu (SHIB), on the other hand, has a market cap of around $5 billion, making it number 15 in the rankings.
While Shiba Inu (SHIB) and Dogecoin (DOGE) have been relatively successful since their launch, the two cryptocurrencies have a common thing holding them back — they are meme coins with little to no utility.
This is especially the case for Shiba Inu (SHIB). The meme coin launched in 2020, before going on to have one of the best bull runs ever witnessed. But since the crypto winter began in December of 2021, the token has been on a consistent downward trend made worse by that lack of utility.
Dogecoin (DOGE) enjoys a small level of utility thanks to the efforts of the billionaire CEO Elon Musk. But this has done little to slow down its descent. And now, as the market gears for recovery, projections for DOGE and SHIB don’t look so promising – at least not as promising as those of utility crypto projects.
HedgeUp (HDUP) is one such project. Currently, in presale, experts have predicted that the token may gain as much as 10,000% when it launches.
How does HedgeUp (HDUP) beat Shiba Inu (SHIB) and Dogecoin (DOGE)
HedgeUp (HDUP) is a DeFi project that’s being built on the Ethereum blockchain. The project describes itself as the ‘world’s first alternative assets investment platform in Web3.’ It has been developing an investment platform that will allow its users to invest in alternative asset classes like precious metals, artwork, and jewelry.
This is the project that's backing the presale token, HDUP. HedgeUp (HDUP) will serve as the internal currency of this platform. It will also be used as the governance token in HedgeUp’s ecosystem, with holders being able to vote on various proposals to determine the project’s direction.
This kind of utility is what gives HedgeUp (HDUP) an edge over meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE). Therefore, its projections for the year are more optimistic than those of DOGE or SHIB.
HedgeUp (HDUP) also guarantees some of the best gains in the market. The token started its presale with a price of $0.009 and will close at $0.887. Doing the math, this will give investors gains of around 980%, making HDUP the best-performing token within that period.
Click the links below for more information about HedgeUp (HDUP) presale: