As 2024 draws to a close, the cryptocurrency market has witnessed some standout Bits outperforming the volatility and delivering impressive growth. These top-performing cryptocurrencies have cemented their positions through strategic development steps, key adoption milestones, and surging buying pressure, leading to significant price increases.
In this analysis, Bitcoin Magazine will review the top 5 cryptocurrencies of 2024 and explain the factors driving their success. The article will also assess whether these assets can maintain their momentum and achieve similar feats in 2025.
OM, the native Token of the MANTRA Layer 1 Blockchain, tops the list of best-performing altcoins in 2024. The MANTRA Bit price has surged by 9,445% this year. This massive increase is related to the growing demand for Tokenized real-world assets (RWA) Tokens, including MANTRA.
For many, RWA has the potential to unlock assets for investors globally. As a result, MANTRA has engaged in numerous strategic partnerships, contributing to the increased demand for OM. At the start of 2024, the OM Bit was priced around $0.040.
However, OM has reached a historic high of $4.60 on December 11th. Currently, the Bit is trading at $3.58, a 22.25% decline from the peak. On the daily chart, OM typically sets new highs whenever it breaks out of a descending triangle pattern.
As seen, this occurred in June and repeated in the November-December period. With a similar trend, the OM Bit price could surge back to $5.50 in the first few weeks of 2025.
However, if the demand for RWA Tokens decreases, the Bit could drop below $2.50.
Ranking second is Mog Coin (MOG), an Ethereum-based memecoin. The MOG Bit price has increased by 5,337% this year. In a year where few Ethereum-based memecoins made breakthroughs, MOG stood out by reaching a historic high of $0.0000040 on December 6th.
Currently, MOG is trading at $0.0000022, a 47.70% decline from the peak.
Technically, the daily chart shows the Awesome Oscillator (AO) has dipped into negative territory, reflecting weakening bullish momentum. If this trend continues, the MOG Bit price could drop to $0.0000016. However, if buying pressure increases, this projection may be invalidated in the short term.
Another memecoin on the list is POPCAT, a cat-inspired meme Bit built on the Solana Blockchain. This year, the POPCAT Bit price has increased by 3,169%, but has since declined significantly after a major sell-off in the second quarter.
Currently, the POPCAT Bit is trading at $0.73, 64% lower than its all-time high of $2.05. The daily chart shows the Relative Strength Index (RSI) has dropped to 32.20, nearing oversold territory.
If this trend reverses, the Bit price could rise to $1.28 as buying pressure emerges. In the coming year, the POPCAT Bit price could climb higher if demand continues to increase. However, if the market enters a bearish cycle, this scenario may not materialize.
AERO, the Governance Token of Aerodrome Finance - an AMM and Decentralized Exchange (DEX) - has risen to become one of the top-performing cryptocurrencies of 2024.
Built on the Base network, AERO has garnered significant attention due to the widespread adoption of Coinbase's Second-Layer Solutions. Additionally, Binance's listing of AERO on the Futures market has enhanced liquidity and accessibility, contributing to its 1,981% annual price increase.
Currently, the AERO Bit is trading at $1.47, with the daily chart indicating a crucial support level around $1.05. However, the MACD indicator has dipped into negative territory, signaling weakening bullish momentum.
If the downtrend continues, the AERO Bit price could drop to $1.07. If the $1.05 support level is not maintained, the Bit could fall further to $0.89.
On the other hand, if the bulls defend the $1.05 support, the trend could reverse. In this case, the altcoin has the potential to climb to the $3 level.
AIOZ ranks fifth among the best-performing cryptocurrencies of 2024. Year-to-Date (YTD), the AIOZ Bit price has increased by 624.40%. This price surge can be attributed to the project's fundamental factors surrounding Artificial Intelligence (AI) and the Decentralized Physical Infrastructure Network (DePIN).
Both AI and DePIN have maintained their positions as the most prominent trends of 2024. The combination of these two areas has ensured that the AIOZ Bit reached its highest level of the year at $1.20.
Despite being one of the top-performing cryptocurrencies this year, the daily chart shows AIOZ has dropped below the 20-day Exponential Moving Average (EMA) (blue) and is at risk of falling below the 50-day EMA (yellow).
If the altcoin drops below the 50-day EMA, AIOZ could face an extended correction to the $0.58 level. Conversely, if the Bit price rises above these moving averages, the bearish thesis will be invalidated, and the Bit could climb to the $2 level.
You can view the coin prices here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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