There are different ways to judge crypto assets. You can judge them by their value, popularity, and/or size by market cap. But according to experts, one of the best ways to judge a cryptocurrency is its utility. This is because utility greatly determines how much value the asset will give investors in the long run.
To this end, experts have analyzed three projects– Dogecoin (DOGE), Pepe (PEPE), and HedgeUp (HDUP).
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Dogecoin (DOGE) and Pepe (PEPE) lack utility
Dogecoin (DOGE) is the most popular meme coin. And with a market cap of more than $10 billion, it is also the biggest meme coin and the 8th largest cryptocurrency overall.
This, of course, makes it a favorite among investors looking to risk it all with a meme coin. It’s a token that has succeeded in the past and enjoys the support of perhaps the most successful entrepreneur in recent history, Elon Musk.
In the recent bull market, Dogecoin’s (DOGE) value went from $0.003 at the end of the previous year to reach an all-time high (ATH) price of $0.7376. This represented a price increase of more than 24,000%.
Now, as the market recovers, the big question is whether Dogecoin (DOGE) will repeat the same level of success in the coming bull run. Crypto experts say that replicating 2021’s run will be a hard thing for Dogecoin (DOGE) to do. This is because the meme coin has no real utility to back it up.
It has, of course, had some help from Elon Musk, who has allowed it to be used as payment for certain merchandise at two of his companies. This is, however, not enough as Dogecoin (DOGE) is still considered more of a meme coin than a utility token.
The same can be said of Pepe (PEPE). Having hit the market last month, PEPE is still a new memecoin. However, in the short time it has existed, the token has taken the market by storm. PEPE has burst into the top 100 tokens by size and its price is currently 2100% more than its launch price.
While it’s presented itself as a solid investment prospect with good returns, experts say the token may not be good in the long run. It is, after all, a meme coin, and its value largely relies on investor speculation.
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HedgeUp (HDUP) extensive utility
HedgeUp (HDUP) is another hot token in the market. But unlike Dogecoin (DOGE) and Pepe (PEPE), it has actual utility. The token is the internal currency of HedgeUp, an investment platform that lets users invest in alternative asset classes within the blockchain ecosystem. It will be used to pay for NFT purchases, bid at auctions, and pay trading and investment fees.
HedgeUp (HDUP) is also designed to support investors across the board. According to the HedgeUp team, the value of HedgeUp (HDUP) is not entirely based on speculation. Holding the token comes with many perks and benefits in the crypto and alternative markets.
These include discounts and offers, tutorials with investment experts, access to exclusive products, and even home-delivered investment sample baskets. So, when analysts predict 3000% gains for HedgeUp (HDUP), their claims are largely grounded on something tangible.
The HedgeUp (HDUP) token can be bought via the HedgeUp (HDUP) presale. It is currently available for $0.020, which experts say is a huge discount considering the token’s potential.
For more information about HedgeUp (HDUP) presale use the links down below:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.