By now many of you would have heard about Dogecoin, a meme crypto currency that Elon Musk has been tweeting about. However, many do not know the existence of another meme coin, Banano.
Banano is a crypto based off Nano, an instant and fee-less cryptocurrency. And as you may assume, the crypto is based off a banana.
Both Dogecoin and Banano may seem to be fun, but which one is the better investment?
Dogecoin:
Price (Roughly): 0.05-0.058USD
Circulating Supply (As of writing): 128,852,417,049
Total Supply: ∞
Twitter followers: 670.8k
Reddit members: 1.2m
Banano:
Price (Roughly): 0.01-0.013USD
Circulating Supply: 1,209,240,182
Total Supply: 2,898,507,756
Twitter followers: 19k
Reddit members: 11.5k
Dogecoin:
Pros
- Dogecoin seems to be more popular in general, it has the support of Elon Musk, Mark Cuban and a number of other celebrities. It seems like each time Elon tweets about Dogecoin, it always goes up by around 5-10% before returning to the previous state.
- It is clearly more popular on social media and has more users.
Cons
- Dogecoin has an unlimited supply. The amount of Dogecoin you hold will depreciate unless if the devs cap the amount of Doge that can be distributed.
- Just like other crypto, it has gas fees and is not as fast as Banano
Banano:
Pros
- As it is based of Nano, it is I stand and has no gas fees
- There is a finite amount of Banano
Cons
- Is not as popular as Dogecoin
- Less services offer Banano to be purchased
Takeaway:
I hold both Dogecoin and Banano. Although Dogecoin is more popular, Banano is more appealing than Dogecoin.
What do you guys think?
