Investing in cryptocurrencies can be lucrative. Bitcoin’s lifetime gains recently rose as high as 80,000,000 percent at some point in 2021. For investors seeking Bitcoin-type returns, the focus is on finding the next cryptocurrency to explode.
There are thousands of cryptocurrencies out there and more continue to launch. While the broad selection might mean every investor could get what meets their taste, it has also made finding the next Bitcoin overwhelming for many. Some investors have subscribed to crypto trading signals to help them determine the best cryptocurrencies to buy.
Where to look for the next cryptocurrency to explode in 2021
You can determine the best cryptocurrency to buy in a variety of ways. You might choose blue-chip names like Bitcoin or cheap altcoins like Dogecoin. The price difference aside, you might decide to invest in DeFi tokens or meme coins. Another method to determine the best crypto to buy is looking at the supply. While some cryptos have a fixed maximum supply, others have an unlimited supply.
Next cryptocurrency to explode among DeFi tokens
DeFi tokens are those associated with projects that offer financial services in the blockchain environment. They’re usually used to facilitate transactions on the projects or to vote in major platform changes. Therefore, the more users these platforms attract, the more valuable the DeFi tokens can become. Some get investors' interest through staking. Some of the DeFi tokens with the potential to explode are:
- Bone ShibaSwap (Shibabone)
- Amp (AMP)
- Compound (COMP)
Shibabone is the official token of Shiba Inu’s native crypto exchange ShibaSwap. You can obtain Bone coin either through purchasing it or earning it as a reward from staking Shiba or Leash coins. The crypto’s supply is fixed at 250 million tokens.
AMP is the payment collateral token for the Flexa Network. It helps give merchants the peace of mind when accepting payments from customers paying with cryptocurrencies. Amp’s supply is fixed at 100 billion tokens and there are about 40 billion tokens in circulation currently.
COMP is the official token of Compound DeFi project. Compound operates a platform for crypto lending and borrowing. There are more than 5 million COMP tokens in circulation and the maximum supply is capped at 10 million tokens.
Next cryptocurrency to explode in 2021 among meme coins
According to Coinbase co-founder Fred Ehrsam, never dismiss a good meme. Indeed, investors have recently made good money with some joke cryptocurrencies. For example, Dogecoin ranks among the biggest altcoin gainers in 2021. If you’re shopping for meme coins that could explode, here are some names worth looking at.
- Shiba (SHIB)
- Tiger King (TKING)
Shiba token is a rival to Dogecoin and its supply is unlimited. The recent launch of dedicated exchange ShibaSwap bodes well for the future of the Shiba coin even though inflation is a major risk.
Tiger King one of the newest meme cryptos having debuted in May 2021. YouTuber Matt Wallace is accumulating Tiger King token on the belief it has a bright future. Wallace, who has also invested in Dogecoin, believes an investment of $1,000 in TKING could be worth $500,000 in a not-so-distant future.