Shiba Inu and Solana stand out as two of the top winners in the crypto world this year. But as a new year approaches investors are asking for which horse to back.
Solana’s SOL token has increased by more than 10,000% year to date, while the SHIB token has increased by about 42,000,000%.
However, Shiba Inu is down more than 60% from its all-time high, while Solana is down about 40% from its peak.
But which one is more likely to deliver big wins in 2022. Let’s take a cursory look at these two tokens and identify key elements amongst them.
What you should know
Shiba Inu network is continuously growing by welcoming more than 70,000 newcomers after reaching the one million mark a little over a month ago.
Solana’s claim to fame is that it is the world’s fastest-growing blockchain ecosystem. On the Solana blockchain, there are now 879 projects. They include “non-fungible tokens“, which are collections of one-of-a-kind digital assets, as well as trading exchanges, games, and more.
Solana is that it’s the fastest-growing blockchain ecosystem on the planet. There are currently 879 projects built on the Solana blockchain. They include collections of unique digital assets known as trading exchanges, games, and more.
Solana recently experienced a highly publicized distributed denial-of-service (DDoS) attack that caused concerns. Although the blockchain remained online, its network speed dropped significantly.
The SHIB token is worth approximately $17 billion, whereas the SOL token is worth approximately $55 billion according to the coin market cap.
Although the introduction of new meme tokens poses a risk to SHIB’s price, Solana’s application-focused network faces competition as well, and SHIB’s smaller market cap may allow it to post more explosive gains if the crypto market recovers from recent instability and returns to a strong bullish phase.
Which should you pick?
For most investors looking to obtain exposure to the cryptocurrency and blockchain services markets, Solana is a clear choice.
Investors who are ready to take on a lot of risk in the hopes of making rapid money may be able to make money with the SHIB token, but Solana’s application-building capabilities suggest a superior risk-reward dynamic in the long run.
Also, Matt Hougan, Bitwise Asset Management’s chief investment officer, in an interview with Bloomberg Technology named Solona has part of the top 3 altcoins to invest in 2022.
Hougan said, “It is my opinion that investors will look at Ethereum, Solana, and Polygon.”
