CoinPedia Markets · Follow
5 min read · Jan 30, 2024
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In the fast-evolving world of cryptocurrency, identifying the next potential gem can be a game-changer for crypto investors. Given the ongoing fluctuations in the market, there is a heightened interest in penny cryptocurrencies that have the potential to reach $1 mark in 2024. With thousands of cryptocurrencies priced under 1 Dollar, finding out the best is not an easy task.
Here we explore 10 cryptos with their unique features and why they could be the ones to watch in 2024.
Top 10 Cryptos Poised For $1 In 2024
1. Tron (TRX)
Price: $0.11
Market cap: $9.01 billion
Tron, is one of the leading blockchain networks for stablecoin transfers that can run smart contracts and be used for building Dapps. TRX serves modest utilities including a medium of exchange within the ecosystem, incentivizing users to participate in activities like staking, voting, and contributing to the network.
Despite being priced modestly at fractions of a cent, TRON’s consistent uptrends in both weekly and monthly charts indicate a strong momentum. TRON’s collaboration with Huawei Cloud’s Native Enterprise Service (NES) highlights it is transforming Web3 and streamlining blockchain operations.
Partnering with a top cloud service provider, TRON seeks to democratize blockchain access, empowering developers and fueling innovation in the decentralized ecosystem. This strategic alliance not only enhances TRON’s credibility but also expands its reach, making it more accessible to a broader audience.
2. Shiba Inu (SHIB)
Price: $0.000009264
Market cap: $5.44 billion
Shiba Inu has evolved into the 17th most valuable cryptocurrency and the second largest meme coin with a market cap of $5.44 billion. Originally conceived as a meme coin, the community and developers have actively worked to broaden its utility beyond its meme origins. They’ve introduced features such as yield farming, NFTs, and DeFi protocols, with ambitious plans for a Shiba Inu-based metaverse.
Shib is going to kick off in the virtual realm, recently announced “Shibdentity” — a new system of digital identities on the upcoming Shibarium layer-2 network. Meanwhile, Shibarium is going to onboard 1,000 projects through numerous partnerships. The growing wallet addresses to over 1.35 million shows a potential increase in SHIB’s value, hinting at the $0.1 mark soon.
3. Astar (ASTR)
Price:$0.1872
Market cap: $1.02 billion
Astar, a Japanese crypto platform, has witnessed a remarkable surge with its ASTR token. Bouncing back from a record low in June 2023, the token concluded the year nearly 250% higher than its initial value, topping 89% of the top 100 coins. Over the last 30 days, there have been 20 positive price movements, constituting a 67% success rate.
More than 60 teams building on the Astar Network and the Astar team is actively developing new features and integrations for the network. Various incentivized teams building on Astar have introduced new products and engaging activities for their supporters including customer branding, gaming, nft artwork, and web3 security. This could attract new users and businesses to Astar, which could increase the demand for ASTR and drive up the price.
4. Kaspa (KAS)
Price: $0.1872
Market cap: $2.38 billion
Kaspa, a proof-of-work project based on the GHOSTDAG protocol, is a relatively new blockchain that emerged in 2021 and officially launched in 2022. The platform, along with its native coin KAS, has swiftly gained crypto investors’ attention and in November 2023 it reached an all-time high of $0.154.
KAS fuels all the network activities, including developer fees and transaction costs. KAS gets listings on XT.com and Coinone, with a significant boost from its November listing on Binance. Further expanding its reach, KAS joined the Onramp Money exchange on January 18.
5. Dogecoin (DOGE)
Price:$0.08126
Market cap: $11.61 billion
Emerging from an internet meme, Dogecoin has surpassed expectations, transforming into a well-known name in the crypto realm. Currently valued at $0.08126, Dogecoin’s path to the $1 milestone has been fueled by volatility, market corrections, and unwavering community support.
Elon Musk’s announcement on plans for ‘X,’ a groundbreaking app set to transform digital payments, has sparked renewed enthusiasm for the growth prospects of Dogecoin. Moreover, Musk’s launch of an official Payments account briefly boosted the DOGE price, highlighting the impact of market sentiment on its course.
6. Stellar (XLM)
Price:$0.1158
Market cap: $3.28 billion
Stellar is an open-source payment network Launched in 2014. Stellar Lumens (XLM) stands out for its focus on cross-border transactions, aiming to transform global money transfers. Its growth is propelled by strategic partnerships, including collaborations with the Ukrainian government, VISA for faster payments in Africa, and ties with MoneyGram and Techstars. Currently, XLM is valued at $0.1158 and is one of the top cryptos by a market cap of $3.28 billion.
7. Kava (KAVA)
Price: $0.7425
Market cap: $801.30 Million
Kava empowers users to use crypto assets like BTC, ATOM, and BNB as collateral for secured loans. Accepting major crypto assets, the Kava platform disburses loans in USD-pegged USDX stablecoins.
Over the past month, KAVA experienced a resurgence, climbing from $0.53 to the $0.96 range. We predict the potential for KAVA to hit its resistance level of $1.20 in the short term with sustained positive momentum. Long-term forecasts anticipate KAVA reaching $1.03 by 2024.
8. Cronos (CRO)
Price:$0.08417
Market cap: $2.12 billion
Cronos, an Ethereum-compatible, Cosmos SDK-based layer-1 blockchain, has taken a significant stride with the launch of Cronos Explorer on its testnet. The optimism of reaching $1 is grounded in the expectation of strategic partnerships and initiatives, poised to amplify Cronos’ market presence and positively impact CRO’s value. Additionally, Cronos Labs announced the third cohort for its Cronos Accelerator Program, centered on the convergence of AI and Blockchain. This program aims to drive the upcoming wave of innovation in the realm of Web3.
9. Vechain (VET)
Price:$0.02936
Market cap: $2.13 billion
Vechain, a smart contract-compatible blockchain designed to enhance the supply chain management with distributed ledger technology. Recently integrated with Ledger Live to offer users a secure and easy way to access their holdings. This integration removes the necessity for intermediaries, providing users with direct control over their VET assets. The 24-hour trading volume and market cap have surged, hitting $39.15M and $2.13 billion, respectively.
10. Hedera (HBAR)
Price:$0.07446
Market cap: $2.50 billion
As an open-source and leaderless proof-of-stake, hedera offers online payments and a range of Web 3.0 tools for creating decentralized solutions. It is considered to be one of 2024’s top crypto coins with a market cap of $2.50 billion and a volume of $37.35 million. Hedera solves the problems of scalability, high fees, and low transaction processing speed. The platform gained attention through its collaboration with Hitachi US, bringing the Tokyo-based group onboard to the Hedera Council.
Conclusion
In the dynamic landscape of cryptocurrency, these ten coins, including TRON, Shiba Inu, Astar, Kaspa, Dogecoin, Stellar, Kava, Polygon, Cronos, and VeChain, present diverse potentials for reaching the $1 milestone in 2024. Investors keen on penny cryptos have a spectrum of options to explore.
