Dogecoin (CRYPTO:DOGE) started out as a joke, but plenty of investors laughed all the way to the bank as the cryptocurrency skyrocketed. Sure, it’s close to 65% below the high set in May. However, anyone who bought the digital coin 12 months ago and held on is sitting on a gain of nearly 9,300%.
Shiba Inu (CRYPTO:SHIB) has been a much bigger winner so far this year. It’s up a mind-blowing 95,279,000% or so over the last year. There are millionaires and even billionaires who owe their fortunes to the popular token.
But it will be very difficult for Dogecoin and Shiba Inu to repeat these performances over the next 12 months. However, there are other digital tokens that hold the potential for ginormous gains. Look out Dogecoin and Shiba Inu — there’s one rival that just might be the next breakout cryptocurrency.
Image source: Getty Images.
The ultimate Elon Musk token?
The obvious common denominator between Dogecoin and Shiba Inu is that they both use the Shiba Inu hunting dog as a symbol. However, there’s also another tie between the cryptocurrencies: Both are linked with Tesla (NASDAQ:TSLA) CEO Elon Musk.
Musk, the self-proclaimed “Dogefather,” has been a vocal supporter of Dogecoin. And though he doesn’t personally own Shiba Inu tokens, his tweets of photos of his Shiba Inu puppy have driven the cryptocurrency price higher.
Now, arguably the ultimate Elon Musk token has arrived. Elonomics (CRYPTO:ELONOM) began trading on Oct. 25. It’s inspired by and named after the Tesla leader. Elonomics even uses a picture of a person who resembles Musk wearing a Viking horned helmet on its logo.
The new cryptocurrency is based on the Binance (CRYPTO:BNB) Smart Chain blockchain. Owners of Elonomics are rewarded in Binance stable coins.
To the moon — and back
At 6 p.m. on Sunday, Nov. 7, 2021, Elonomics traded at $3.51. At the same time on the next day, the token had soared to $77.47. That’s a gain of more than 2,100% in just…
