Many investors who indulge in high-risk and high-reward trading or investing, frequently nicknamed Degens, are waiting for the Dogecoin (DOGE) price to reach $1. Dogecoin was created as a fun and rather unpretentious project, but it soon became one of the most popular cryptos. It has garnered a lot of appreciation over the years, and famous personalities like Elon Musk have helped. But, Dogecoin has yet to rise above $1.
However, the potential rise of DOGE has not stopped investors from investing in other crypto gems like ChowWow ($CHOW) and Cardano (ADA), which may be more lucrative. The two of these coins are special and possess some characteristics that could make them valuable for investment. ChowWow is unique in that it combines a play-to-earn type of gaming system with massive rewards.
So, let’s take a closer look at ChowWow and Cardano amid degens waiting for Dogecoin to reach $1.
Dogecoin (DOGE): Witnessing Low Whale Activity
Dogecoin has remained relatively stable recently, as has been the case with cryptocurrency in the early months of the year. However, efforts to level up last week, following the floored prices from a flash crash that saw it sinking to $0.20 early this month, have been dampened. Surprisingly, there are no significant changes in some important on-chain activities, including daily active addresses and transactions.
Historical data derived from on-chain analysis points to bearish signals with low activity among whales. Well-known analyst, Ali Martinez also noted that there is very little trading activity among whales as none of them have been accumulating or selling DOGE over the past few days. The crypto analyst, Trader Tardigrade, gave his view on the matter and described this stage as the ‘Boring Phase’ on Twitter. Earlier, the pundit also made a bullish forecast, which said that Dogecoin may reach $1.50 per coin.
Cardano (ADA): Wallet Number Increases
Recent statistics prove that Cardano has hit a new milestone as the total number of wallets on the network increases. The number of wallets that have been generated on the Cardano network has now crossed the 5.2 million mark. Data from Cardano Blockchain Insights, which collects information from various blockchain explorers, reached 5,201,576 as of February 20.
TapTools previously brought attention to the growth after the asset saw a large number of new users flock to Cardano upon Grayscale’s filing for an ADA ETF. TapTools first reported on this achievement after the asset recently closed with a wallet number of 5,200,230, and the increase testified to the popularity of Cardano.
ChowWow ($CHOW): A Popular Platform With Low Transaction Costs
ChowWow is one of the new trending altcoins that has play-to-earn and stake-to-earn features. Built on the Solana blockchain, it is expected that it will work quicker and have lower costs than traditional meme-based coins on the Ethereum platform. Evaluating it as one of the most popular cryptos, ChowWow has been created with the community in mind and will contain features such as airdrops and games to develop and increase the community.
Moreover, social gaming has surged in popularity over the years, with more than 40% of millennials playing games that involve competition or cooperation with other players. ChowWow is a new crypto project, and it will provide social gaming in the ChowWow Kingdom and adopt easy access to the platform for all. The kingdom of ChowWow gaming is open for any gamer, but only $CHOW token holders can benefit from the play to earn rewards.
The $CHOW is a cryptocurrency that is adopted in the ChowWow gaming realm and used to buy things like boosts for avatar pets. A certain proportion of $CHOW is acquired from the pool that will be disbursed to the players. As one of the trending altcoins, ChowWow will partner with influencers, brands, and other blockchain projects to extend its market reach.
Conclusion
While degens wait for Dogecoin to hit $1, others might find better value in ChowWow and Cardano. ChowWow brings a fun meme culture with actual utility via its play-to-earn platform. Cardano is a serious project with long-term potential in the crypto space. If you’re looking for a new crypto gem with solid technology and future growth, ChowWow is an exciting option.
