One of the buzzing cryptocurrencies launched in 2022 is the Sango Coin while Dogecoin is another top crypto asset in a bearish market.
Many have made it a point to invest in cryptocurrency despite the market turning ”red indexes” for longer periods of the year. Dogecoin has become one of the most popular and largest crypto assets while Sango Coin has caught the attention of investors since its launch in July.
In this post, we’ll look at the investment opportunities of both Dogecoin and Sango Coin. We’ll also look at the better option for investment in a year when the market is bearish.
What is Dogecoin?
Dogecoin is a crypto asset that belongs to the meme coins category. It is classified as a meme coin because it is a parody of an existing cryptocurrency which is Bitcoin. Dogecoin is created through a hand fork from Litecoin, another coin modeled on Bitcoin.
Dogecoin trades by the symbol DOGE and is currently the 11th largest cryptocurrency today according to CoinMarketCap. DOGE with its dog-themed token has rivaled Bitcoin’s success since its creation. Today, some merchants in the world accept DOGE for payment of goods and services.
Call it the ‘influencers token’, you are not wrong. Dogecoin’s popularity came to be as a result of social media hype especially the cryptic tweets of Tesla founder, Elon Musk.
What is Sango Coin?
Sango Coin is the first cryptocurrency backed by the government of a nation. The Central African Republic, which became the second country in the world to make Bitcoin a legal tender owns the Sango Coin. The SANGO nodes are controlled by a democratically elected government body known as ”Institutional Quorum”.
The Sango Coin symbol is SANGO and is one of the most talked about cryptocurrencies in 2022. The Sango Coin is built on the Bitcoin blockchain which makes it a powerful digital asset. It is backed by bitcoin, which is held in a reserve fund by the Central African Republic Treasury.
As altcoins make it a point to be better than Bitcoin, SANGO is not different. The project leverages smart contracts to provide more scalability, privacy, and programmability. It also reduces the burden on the bitcoin network by actually distributing the work to its second layer.
Why Investors Consider DOGE?
Dogecoin has been top on the list of several investors that needed to diversify their portfolios. DOGE came close to Bitcoin, and Ethereum as the most popular cryptocurrency. Here are the major reasons averse risk-takers are putting their hard-earned money on.
1. Payment for Goods & Services
Dogecoin is accepted by some merchants in the world for payment of goods and services. Elon Musk’s Tesla is one of the top companies that accept DOGE for some of its products. Bitcoin is created as an alternative to the traditional fiat system as a mode of payment for goods and services. DOGE has simply rivaled BTC in this regard.
DOGE’s success has paved way for the creation of other meme coins such as Shiba Inu, Floki Inu, Dogelon Mars, Tamadoge, and so on.
2. Work of Influencers
DOGE is considered an option by many because they have heard about the project via the works of social media influencers. Reddit influencers, Elon Musk, Mark Cuban, and Snoop Dogg, are the biggest influencers of this dog-themed coin.
The cryptic tweets of multi-billionaire, Elon Musk have made many invest in Dogecoin. An investor filed a lawsuit against the Tesla founder for his loss during the bearish market.
3. Alternative Currency
Cryptocurrency is seen as the future of money. While Bitcoin has already become a legal tender in El Salvador and the Central African Republic, DOGE has been predicted to achieve the same status in the nearest future. Its annual inflation, in the long run, is to help its adoption and become a currency for use. Time will tell if it will get to this level.
Why Sango Coin is Buzzing Today for Investors
SANGO has attracted crypto investors and has made the headlines since its launch. Binance CEO, Changpeng Zhao, has visited the Central Africa Republic in this regard. But why is the crypto asset buzzing? Here’s the reason below.
1. Exciting Offers for Holders
SANGO Coin offers its holders a variety of options to take advantage of the blossoming economy. An individual or entity can become an e-resident by buying and holding SANGO coins to the tune of $6,000.
Individuals and entities can purchase land in the Crypto City area of Bangui for $10,000 worth of locked SANGO tokens. They can also get the metaverse alternative of the land too.
2. Backed by Bitcoin
There have been questions about other cryptocurrencies on if they will still exist in the future. The case is however different for Bitcoin which has real-world use cases. SANGO, which is run on the same blockchain as Bitcoin has leveraged this to be one to look out for.
3. Monetary System
SANGO Coin is different from other government-owned cryptocurrencies known as CBDCs. It is aimed at helping the nation’s economy. For this reason, the President, Faustin-Archange Touadéra, said SANGO will act as the “gateway to the natural resources in the country.
Which to Choose Between Dogecoin & Sango Coin in 222?
Both Dogecoin and Sango Coin are interesting projects for investors to consider. However, investors should know why they are investing before putting their hard-earned on any of these projects.
If you are investing based on longevity, DOGE should be the option as it was created 9 years after SANGO came to be. It has survived some bearish markets while many projects have faded out.
DOGE is also the option when it comes to the asset with mass adoption. SANGO, which is built on the bitcoin blockchain is however one to consider when looking at value.
The Bottom Line
Dogecoin and Sango Coin are two of the most popular cryptocurrency. While DOGE has been one of the outstanding crypto assets in the bearish market of 2022, SANGO has been one of the top projects created in the same year.
Crypto investors should study the market and crypto assets before putting their hard-earned money in cryptocurrency. This is because the return on investment is not guaranteed.
