Bitcoin (BTC-USD) is naturally the first digital coin that comes to mind when the subject of cryptocurrencies comes up. From institutional investors to everyday traders, Bitcoin is often viewed as the ultimate measure of sentiment in the crypto market – the one that sets the tone for the rest.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
That, says top investor Neil Patel, is entirely justified. Its dominance is well-earned thanks to its strong brand recognition, first-mover advantage, powerful network effects, and massive $2.2 trillion market cap. Yet, Patel notes, investors looking beyond Bitcoin might uncover other intriguing opportunities in the crypto universe.
Among the contenders, XRP (XRP-UDS) and Dogecoin (DOGE-USD) stand out – though for very different reasons. Dogecoin earned its fame as the original meme coin, while XRP was created to challenge the inefficiencies of traditional cross-border payments. The question for investors, then, is which of the two presents the better buying opportunity.
Dogecoin’s story is well known. What began in 2013 as an internet joke quickly evolved into a multi-billion-dollar asset. Its cultural status, driven by an enthusiastic online community and high-profile fans like Elon Musk, helped it climb into the top ten cryptocurrencies, with a market cap north of $29 billion. However, its rallies have mostly been propelled by hype rather than fundamentals. A single tweet or wave of retail enthusiasm can send prices soaring, only for them to tumble just as quickly.
That volatility stems from deeper issues. Dogecoin’s real-world utility remains limited, and its development community is small. More importantly, its unlimited supply (roughly 151 billion DOGE in circulation with 5 billion new coins minted each year) makes long-term appreciation difficult.
As Patel bluntly puts it, “This crypto is nothing more than a tool for speculation. It’s difficult for any long-term investor to consider owning it with a five- or 10-year time horizon.”
XRP, by contrast, has tried to distance itself from speculative mania by focusing on utility. Its mission is to enable fast, low-cost international transactions, using XRP as a bridge currency between fiat systems. Payments settle in seconds, at minimal cost, and Ripple (the company behind XRP) continues to expand partnerships across the global financial ecosystem in pursuit of mainstream adoption.
That said, the road ahead isn’t free of obstacles. The global payments landscape is dominated by entrenched financial giants that aren’t eager to cede ground, and the rapid ascent of stablecoins adds further competition. Even with Ripple launching its own stablecoin (RLUSD), it remains a small player compared to dollar-pegged tokens commanding hundreds of billions in value.
Still, when Patel weighs the two cryptos side by side, his preference is clear. “Despite lots of uncertainty, I still view XRP as the much better investment option than Dogecoin,” said the 5-star investor, who ranks among the top 4% of stock pros on TipRanks. “Over the next decade, the former has more potential than the latter.” (To watch Patel’s track record, click here)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.