The availability of many cryptocurrencies has led investors to flock to well-known projects like Dogecoin and Polkadot. However, the NFT project Flasko seems to be the only one capable of surpassing them by the end of 2022.
In contrast to other markets, cryptocurrencies see most funds coming in despite the crypto winter. While adoption and curiosity seem to grow in this niche, interest in making money also draws attention.
All over the world, investors are seeking a project that generates 10X profit or more. Since many coins are available, people have flocked to known projects like Dogecoin (DOGE) and Polkadot (DOT).
Although Dogecoin and Polkadot are proven and popular crypto assets, no one knows if they could rise significantly. Only the project Flasko (FLSK) seems poised to outperform them by the end of 2022.
Upgrades Do Not Benefit the Former King of Dog Memes
In 2021, DOGE was the dark horse of crypto assets, reaching an all-time high of 76 US cents. However, the hype for the Shiba Inu-inspired meme token dropped in May of that year.
The trend in the price of Dogecoin has hovered around USD 0.059, representing a 90% drop from the peak. According to analysts, this loss in value is due to various factors.
As with other meme coins, the price of DOGE usually moves according to media attention rather than new infrastructural developments. There is also a significant reduction in the number of holders as many whales have sold their holdings.
Although the value of Dogecoin could increase further in the coming months, a significant momentum seems unlikely.
DOGE is trading at around USD 0.059258 and has accumulated a 4.7% gain over the last 24 hours. While its daily trading volume is above USD 320.75 million, its market capitalization is about USD 7.86 billion, according to CoinGecko.
DOT Does Not Serve Well as a VC Dump
Polkadot follows Dogecoin in the ranking of cryptocurrencies by market capitalization. The price of this interoperability pioneer rose by almost 2,500% in a year, reaching a maximum of USD 55 in November 2021.
However, DOT is down by almost 90% and is trading at USD 6.35. The fundamentals of the crypto asset are not responsible for the fall since the overall crypto market has gained momentum.
Despite its investment value, Polkadot is not very easy to understand due to the complexity of its purpose. In addition, the several existing interoperable currencies mean high competition, while DOT may eventually catch up.
DOT is trading at around USD 6.39 and has accumulated a 0.3% gain over the last 24 hours. While its daily trading volume is above USD 353.34 million, its market capitalization is about USD 7.37 billion, according to CoinGecko.
FLSK is a Crypto Project with Much Potential
Flasko is the first project of its kind to couple NFTs with the USD 13.4 trillion premium beverage investment sector. Over the last five years, the whiskey, wine and champagne industries have sprung up in unprecedented ways.
FLSK brings luxury drinks to the crypto space after having passed the audit with Solid Proof. In addition, the creators of the crypto asset have committed to maintaining its liquidity for 33 years.
Early investors in FLSK may profit from this alternative investment. The price of the token is still below 5 US cents. However, experts expect it to hit USD 1.60 by late 2022.
By Alexander Salazar