The post Uwerx (WERX) Has Real World Utility And Will Beat Dogecoin (DOGE) And Shiba Inu (SHIB) appeared first on Coinpedia Fintech News
The cryptocurrency market is showing some signs of life after a year-long bear market, and investors are looking for some strong returns. Many investors are obsessed with meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) but these tokens may have had their day. Neither offers anything tangible, and it is hard to see them extend their market cap in a big way. Uwerx is a real-world project with tangible utility and at this early stage, it can see supercharged gains of its own.
Dogecoin (DOGE) has Support, but is it warranted?
Dogecoin (DOGE) continues to be supported by hype traders and meme investors. The project saw its value boosted when Elon Musk bought Twitter, but that has been a disappointment. The market cap of Dogecoin (DOGE) is currently around $11bn at a price of $0.009. If the coin produced a 10X return and got back to its previous highs then a $100bn market valuation would see it in the number three spot, but is that realistic when there is no utility?
Dogecoin (DOGE) is worth holding for the rollercoaster ride but the chances of building on a 10X gain is not likely and investors should look for projects with better fundamentals and upside potential. The beginning of 2023 also saw a rival coin, the Solana-based BONK, rising 3,300%. The token then crashed and the developers of the cryptocurrency burnt their remaining tokens, which represented 5% of the whole supply. These are not reliable investments, and it is wise to consider diversifying.
Shiba Inu (SHIB) Gains on Talk of Metaverse
Shiba Inu (SHIB) has gained on talk of a move to the metaverse. The Shiba Inu team has recently announced new plans and whales were moving their token supply. First, Shiba Inu’s developers said they want to unveil their new metaverse at the South by Southwest (SXSW) Festival 2023 in Austin. A virtual reality (VR) tour of the WAGMI Temple, one of 11 locations in the new Shiba Inu metaverse, will be featured in the exhibition.
Shiba Inu (SHIB) could benefit from the metaverse, but that looks to be years in the making before any real adoption. There will also be stiff competition in the metaverse, especially from play-to-earn themes. Shiba Inu (SHIB) has dropped back to number 16 in the list of coins with a $5bn valuation, and there appears to be little short-term appeal apart from a rebound to previous levels.
Uwerx (WERX) Offers Real-world Utility
Uwerx is a token that will be backed by real-world utility and a definable market valuation. The Uwerx project will provide a blockchain platform to disrupt the market for freelance workers. This is a booming and fast-growing sector and the companies involved are making big revenues. One of the leaders is Upwork and the company logged bookings of $3.5bn in 2021 which was up 35% for the year. Upwork had a $8bn valuation before the tech bubble burst, which is enough to top SHIB and close in on DOGE.
Uwerx is currently in a presale and investors can get hold of the coin at $0.0065 – liquidity has also been locked in for 25 years after the presale ends. Marketing campaigns and exchange listings will boost the attention on the coin and ultimately improve its valuation. Earning the trust and loyalty of the community is certainly a priority to the team as it has received two audit approvals by Solidproof and InterFi Network.
The path to an Upwork-style valuation means a big upside for early investors. Uwerx will leverage the digital ledger to grab market share from its rivals with lower fees and faster payments. Uwerx will likely become a dominating force in the freelancing industry with its fundamental advantages over traditional freelancing platforms. Currently, there is a 25% bonus to investors as well as the chance to win $5,000.
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