The craze for meme coins in 2021 had a lasting effect on the cryptocurrency landscape. Dogecoin (DOGE) and Shiba Inu (SHIB) saw a sharp increase in price due to the buzz on social media and celebrity endorsements. However, 2024 presents a different image for investors. Despite their passionate fan base, DOGE and SHIB’s long-term sustainability is doubtful due to their limited utility. Algotech (ALGT), a relatively new player in the altcoin space specializing in algorithmic trading, is quickly rising to the top. Let’s look at the reasons why ALGT could be a better investment in 2024 than DOGE and SHIB.
DOGE and SHIB have very limited utility outside of being a medium of exchange. Their value is largely tied to how their respective communities feel in the moment or what social media is saying about them. Algotech, on the other hand, is building on a strong utility: algorithmic trading. Its algorithmic trading software leverages advanced machine learning to automate trading strategies, empowering its users with accurate data for informed trading decisions. Focusing on utility, Algotech is favorably positioned in a market with growing demands for solutions beyond speculation.
The trend of incorporating AI and ML into the cryptocurrency market is growing. Algotech’s use of these technologies to improve the trading experience puts it ahead of the competition. Algotech’s platform analyzes large-scale datasets and market patterns to produce automated trading signals that could provide users with higher returns. Compared to DOGE and SHIB, which do not have these features, ALGT has a major technological advantage.
The social media frenzy that propelled DOGE and SHIB’s rapid growth also caused significant price volatility. Although there may be sporadic pumps for these memecoins, it is still unclear how they will expand in the long run. On the other hand, Algotech hopes to achieve sustainable growth through continuous platform development and user adoption. Its ongoing ALGT presale at $0.08, raising over $3.7 million so far, suggests growing investor confidence in its future.
A robust and active community is essential to the success of any cryptocurrency. Although DOGE and SHIB have sizable online fan bases, these communities frequently prioritize immediate profits over long-term project growth. Algotech aggressively cultivates a community by providing a platform that meets the needs of both inexperienced and seasoned traders. User-friendly tools and educational materials can draw in a larger audience and support a project’s sustainability over the long run.
The value of a cryptocurrency is largely determined by its tokenomics. Because DOGE has an infinite supply, there is no upper limit on the number of coins that may be minted, which could cause inflation and hinder price growth. SHIB, despite having a bigger overall supply, still has concerns about over-circulating. On the other hand, ALGT has a limited supply of 350 million, which may drive prices up as demand rises.
To learn more about Algotech, visit the Algotech presale website or join the Algotech community.
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