In December 2023, the cryptocurrency market is witnessing a significant surge, particularly among layer-1 tokens like Solana, which saw a 21% increase in just 7 days. Bitcoin’s rise above the $44,000 mark, driven by optimism regarding the potential approval of the first spot exchange-traded fund (ETF) and expectations of rate cuts in traditional markets, has further invigorated the cryptocurrency space. This positive momentum is reflected in various cryptocurrencies, including emerging altcoins.
Cryptocurrency has moved from being a risky frontier to a mainstream financial asset. Big institutions and banks consider it legitimate despite its ups and downs. But how do you pick the next big crypto to invest in?
If you’re new to cryptocurrency, choosing the right one for big profits can be challenging. While Bitcoin is popular, other lesser-known coins may offer better returns in 2023, as they haven’t been overly influenced by institutional investors yet.
1. Pandoshi (PAMBO) – Decentralized Community Governed Ecosystem
In the world of cryptocurrency, meme coins have become quite popular because they promise to make you money quickly. But they’re also risky and uncertain, especially if you’re late to the party. Most meme coins don’t really do much, they’re just for fun. But Pandoshi is different.
Pandoshi isn’t just another meme coin; it has a bigger purpose. While other meme coins are all about making a quick profit, Pandoshi is built to last and actually be useful. It uses the fun and excitement of meme coins to get people interested, but it also has practical things you can do with it.
The Pandoshi ecosystem includes a Layer-2 network (utilizing Proof of Stake, which is an environmentally friendlier option than Proof of Work), a decentralized exchange (DEX), a non-custodial wallet (offering enhanced safety for users), metaverse games, educational initiatives, and reloadable prepaid cards in cryptocurrency, with no KYC requirements. The entirety of this ecosystem will be fueled by the native utility token, PAMBO, originally introduced on the Ethereum blockchain.
Pandoshi has introduced a total of 2 billion PAMBO tokens, with 1 billion dedicated to the presale. The remaining allocation is divided as follows: 20% for DEX liquidity, 10% for CEX liquidity, and 20% for the Bonus program. Currently, Pandoshi’s presale is structured in five distinct stages. At the moment, Pandoshi is in its third stage, the token is priced at $0.006. The fourth stage will see the price rise to $0.008, and the final stage will set the price at $0.01.
Nonetheless, as a daring strategy to secure the token’s enduring value and stability, the project seeks to eliminate a remarkable 80% of the entire supply. This ambitious approach establishes PAMBO as an exceedingly deflationary asset within the cryptocurrency world. With the diminishing supply, the token inherently grows scarcer, potentially resulting in an increased value per token.
Considering its deflationary properties, the procurement of PAMBO tokens becomes a tactical choice for investors and members in the Pandoshi ecosystem. Two primary avenues for obtaining these tokens exist: either buying them on the public market or earning them through active engagement in official Pandoshi events and activities.
In summary, the Pandoshi ecosystem’s adoption of a buy and burn mechanism, combined with a restricted and diminishing total PAMBO token supply, represents a deliberate strategy to increase the token’s rarity and worth. As the ecosystem expands and matures, this strategy has the potential to yield substantial investment rewards for early supporters and those holding PAMBO tokens for the long time.
Additionally, Pandoshi will provide NFTs at no cost to early supporters and offers a chance for 10 lucky participants to win $100,000 ($10,000 each) by completing simple actions such as joining the project’s official channels on Twitter, Telegram, and Discord. For more information and how to participate, visit Pandoshi’s official website.
2. Dogecoin (DOGE)
Dogecoin is a cryptocurrency, similar to Bitcoin or Ethereum, but with distinct features. Initially conceived as a crypto enthusiast’s joke, Dogecoin took its name from a popular meme of the time. It was created in late 2013 by software engineers Billy Marcus and Jackson Palmer, using the logo of a meme featuring a Shiba Inu dog with the intentionally misspelled word “doge.”
In early 2021, Dogecoin became really popular on the Reddit WallStreetBets forum. People there were excited about it, saying they wanted to “take it to the moon.” By May 2021, the value of Dogecoin jumped up to $0.68, a big increase from being worth less than a cent at the start of the year. This increase was partly because Elon Musk, the CEO of Tesla, supported it. But after that, Dogecoin’s value went down a lot, falling to about $0.05 by June 2022.
Dogecoin works on its own special system that keeps track of all its transactions. It uses a method called proof-of-work, where people use computers to solve difficult math problems to process these transactions and add them to Dogecoin’s system. The people who do this work, called miners, get Dogecoin as a reward. They can keep this Dogecoin or sell it.
While Dogecoin can be used for payments and purchases, it is not an effective store of value primarily because there is no maximum limit to the amount of Dogecoin that can be created through mining. This makes the cryptocurrency highly inflationary by design. The blockchain rewards miners by creating millions of new Dogecoins every day, making it challenging to sustain speculative gains in Dogecoin’s price over time.
Compared to Bitcoin, Dogecoin works a bit differently. It’s quicker and simpler for miners to solve the math problems that keep track of transactions, making Dogecoin a more efficient option for payments. A big difference, though, is that there’s no limit to how many Dogecoins can be made, unlike Bitcoin, which has a cap of 21 million coins.
However, there are some drawbacks to investing in Dogecoin. There is no maximum limit to the amount of Dogecoin that can exist, and millions of new Dogecoins are released every day, reducing the incentive to hold the cryptocurrency long-term. Additionally, Dogecoin has not received the same level of security and code scrutiny as Bitcoin or Ethereum, and the mining community is not particularly robust, increasing the risk of attacks.
3. Shiba Inu (SHIB)
Introducing Shiba Inu Coin, a cryptocurrency on the Ethereum network with a history in the market spanning several years. Unlike its more volatile counterparts, Shiba Inu’s extensive distribution has contributed to a relatively stable performance, making it a less lucrative but steadier investment choice.
Shiba Inu derives its name from the beloved Japanese dog breed and initially entered the crypto market with a splash, rapidly attracting the attention of both investors and enthusiasts. In late October 2021, the cryptocurrency experienced a staggering 173% surge in just one week, only to subsequently face a similarly swift decline. This rollercoaster ride underscores the inherent volatility in the world of meme-based cryptocurrencies.
Shiba Inu’s ecosystem includes plans for a decentralized exchange and an upcoming Metaverse game. However, the release date for the latter remains undisclosed. Interested buyers can acquire Shiba Inu tokens through both centralized and decentralized exchanges.
Shiba Inu’s popularity often drives its value through hype. Many investors fear missing out on potential profits, which can lead to emotional decisions. While some have profited from Shiba Inu, meme-based cryptocurrencies can be unpredictable. If you’re thinking of buying for fun, do so in moderation. Heavy investments in Shiba Inu are discouraged due to its uncertain long-term value.
It’s important to note that Shiba Inu lacks intrinsic value and relies on its entertainment appeal. Investing a significant amount in Shiba Inu is not recommended. While it may promise quick gains, it’s not a reliable long-term investment. Keep in mind that the cryptocurrency market is volatile, and gains or losses can vary based on community trends and market sentiment.
4. Pepe Coin (PEPE)
Pepecoin, also known as PEPE, is a cryptocurrency that gained popularity in 2023, surging by 2,100% since its mid-April trading inception. This remarkable increase was primarily driven by its association with the Pepe the Frog meme and the general interest in so-called “meme coins.” However, there are several considerations to bear in mind before investing in Pepecoin.
Firstly, investing in cryptocurrencies like Pepecoin can be extremely volatile. The cautionary tale of Dogecoin serves as a reminder: after an 8,100% surge in the first five months of 2021, its value plummeted almost as rapidly, resulting in significant losses for crypto investors. Pepecoin could follow a similar path as it has yet to demonstrate any real utility or use case, making it a highly speculative investment.
Another point to consider is that Pepecoin’s value is primarily driven by social media attention and speculation rather than concrete applications or a sustainable development network. This renders it particularly susceptible to rapid price changes and potentially declining value over time.
Recently, the Pepecoin (PEPE) initiative encountered a major hurdle when an astonishing $16 million was stolen from its multisig wallet. This event, taking place on August 24, resulted in a notable 15% decline in the value of PEPE. This incident raised alarms among investors about the possibility of a rug-pull, especially as the stolen funds were observed being transferred to different online exchanges.
In light of these developments, it is recommended that investors approach Pepecoin with heightened caution. The turmoil within the project and the substantial monetary loss underscore the significant risks involved in investing in this specific cryptocurrency.
5. Floki (FLOKI)
Floki stands as a cryptocurrency that originally emerged as a meme-coin inspired by Elon Musk’s dog. However, it has since undergone a transformation into a comprehensive web3 project encompassing decentralized finance, NFTs, and the Metaverse. Referred to as “The People’s Crypto” today, the Floki project team has elevated a once seemingly frivolous meme-coin into a more meaningful entity.
The associated token, FLOKI, is a multi-chain digital asset compatible with both Ethereum and Binance Smart Chain (BSC) blockchains, functioning as both an ERC-20 and BEP-20 token. FLOKI tokens can seamlessly transition between these two chains, offering FLOKI holders the flexibility to utilize either blockchain for storage and transactions.
It’s important to note that FLOKI carries a built-in 3% tax when buying and selling the token, which does not apply to transfers between the two chains. This tax is directed towards the Floki Inu treasury, with the project’s stated intention of further developing the ecosystem and promoting Floki adoption. As outlined in the white paper, the team plans to reduce this tax once the treasury has accrued sufficient funds. However, specific targets, timelines, or the extent of this reduction remain unspecified.
Floki started as a meme coin and is still very sensitive to price changes, especially when famous people like Elon Musk talk about it, which is typical for meme coins. Floki has a lot of tokens available, which keeps the price of each token really low. This low price draws in investors who think it might do well in the future. But, because there are so many tokens, even small changes in the market can really affect its price. This mix of being a meme coin and easily affected by outside factors shows how unique meme-based cryptocurrencies are. They often get popular because of social media, but they can be pretty risky for investors because their prices can change a lot.
It’s also important to point out that outside of its own projects, Floki doesn’t have many uses. It’s trying to expand into areas like decentralized finance (DeFi) and the Metaverse, but it’s not widely used in the bigger crypto world yet. Right now, Floki’s value is mostly within its own projects, so it’s hard to say if it will be a good long-term investment outside of those areas.
To sum up this article, we’ve looked closely at five of the best cryptocurrencies to think about investing in right now. Each one has its own chances for making money and risks, so some need careful thinking while others are really promising and you shouldn’t miss the chance to invest in them.
Revisiting the question, “What is the best crypto to buy now?”, the standout from our top five list is undoubtedly Pandoshi. This is primarily due to its status as a new project with substantial potential, overshadowing its counterparts. The tokenomics behind Pandoshi are meticulously developed and thought out, particularly exemplified by its native token PAMBO. The deflationary nature of PAMBO is a key highlight, implying that as time progresses, the token will become increasingly scarce, thereby driving up its value. This characteristic makes PAMBO an attractive option for early investors who plan to hold their investments over longer periods, positioning them to reap higher profits as the token’s value appreciates.
In essence, Pandoshi, with its well-structured approach and promising native token, stands out as a prime candidate for investment among the top cryptocurrencies we’ve discussed. It’s an opportunity for investors to get in early on a project with high growth potential, taking advantage of the long-term benefits that its unique tokenomics offer.