With thousands of cryptocurrencies, it can be tough for most people, especially beginners, to select the best crypto investments for short-term investments. Short-term investments in cryptocurrency refer to the process of allocating funds to coins that have momentum and volatility. They don’t necessarily need to have the best fundamentals.
Dogecoin
Dogecoin is a popular cryptocurrency that is classified as a meme coin. It is a coin that was started as a joke and then grew in popularity after it got an endorsement from Elon Musk, the richest person on earth. Dogecoin has a market cap of over $8 billion, making it the eighth-biggest coin in the world.
Dogecoin is similar to Bitcoin in that it is a proof-of-work coin that was designed to facilitate transactions between people and businesses. It is a good crypto for short-term investment because of its substantial liquidity and popularity among crypto enthusiasts. In addition, DOGE is offered by most cryptocurrency exchanges.
Ravencoin
RavenCoin is one of the best crypto investments for short-term gains. It is a proof-of-work coin that has a market cap of over $389 million. RavenCoin is unique because of how it was created.
The developers simply cloned Bitcoin’s software and made some changes, such as the supply limit. Instead of its supply being capped at 21 million, they increased it to 21 billion. As a result, Ravencoin’s price is substantially low, making it more affordable to most investors.
RVN is a good crypto to invest in or trade because of its correlation to BTC and the fact that it is one of the fastest-growing in the industry.
Shiba Inu
Shiba Inu is the second-biggest meme coin in the world with a market cap of over $5.6 billion. The coin was launched in 2022 at the height of the meme-coin frenzy. Since then, its creators have added two more tokens to its ecosystem: BONE and LEASH.
They have also launched a Decentralized Finance (DeFi) ecosystem known as Shiba Swap and a metaverse platform. At its peak in 2021, Shiba Inu was one of the most popular cryptocurrencies in the world.
Shiba Inu is a good coin to invest in for the short term because of its regular rallies, high daily trading volume, and deep liquidity.
Polygon
Polygon is a leading blockchain project that was built to solve the challenges that exist in Ethereum’s ecosystem. Ethereum is known for its slow speeds and high costs. Therefore, as a layer-2 network, Polygon solves these challenges by providing a high throughput and reducing costs. In the past few years, Polygon has saved Ethereum users millions of dollars in fees.
In addition, Polygon has been embraced by some of the leading companies in the world like Disney, Meta Platforms, and Starbucks. This makes it an ideal short-term investment despite the recent merger event.
Monero
Monero is the biggest privacy-focused cryptocurrency in the world. The coin was built using advanced encryption tools that make it impossible for people to track transactions. This works by not associating an address with any person.
Monero has vast use cases, especially among libertarians, journalists, hackers, and even cybercriminals. It is preferred by these people because, unlike Bitcoin, its transactions cannot be tracked. For example, in 2020, the IRS offered a bounty for anyone who could crack its privacy features.
As such, its demand will likely continue rising over time, which makes it an ideal short and long-term investment.
Summary
There are many other cryptocurrencies that seem ideal for short-term investments. Some of the most popular ones are Quant, BitGert, Cronos, and Hedera Hashgraph. Investors should always diversify their holdings and use the best risk-management strategies available.
