Cryptocurrency markets fell over the weekend following the arrest of Telegram founder Pavel Durov. However, the news of Durov’s release on Thursday injected much-needed positivity into the market.
Last week’s market turmoil opened a window for smart investors to update their portfolios with viable tokens.
For traders seeking to capitalize on the current market sentiment, the cryptocurrency space offers several coins that have such potential. Nonetheless, finding the best Altcoin to invest in today requires time and effort. Therefore, this article helps investors by providing a selection of coins that are worth considering.
6 Best Cheap Cryptocurrencies to Invest in Under $1
Crypto All Stars has entered the digital asset market, unifying different meme coin mascots onto one platform. Meanwhile, StarkNet announced the release of version 0.13.2, which aims to provide users with an enhanced ecosystem experience. Bitcoin layer 2 network Stacks is also launching the Nakamoto upgrade.
XRP
Ripple recently made headlines when it issued 1 billion XRP tokens through its escrow mechanism. The transaction was carried out in three phases: issuing 500 million, 200 million, and 300 million tokens. The news triggered selling pressure and the price of XRP fell by nearly 1.70%.
However, other market trends present a more optimistic outlook. According to on-chain data, Ripple’s active addresses increased by 17% on September 1. Combined with the decrease in exchange supply, this indicates that users have moved XRP from exchange wallets.
Moreover, this indicates a possible bullish trend for the Altcoin. The coin is trading 1.43% above its 200-day simple moving average of $0.547817. So far this month, XRP has experienced 15 days of daily closes exceeding the open. This trading activity is particularly evident on Binance.
CFG
Real-world assets (RWAs) have been gaining attention lately due to the price increases of some tokens. Centrifuge (CFG) has ridden the recent RWA wave, as evidenced by its recent positive market performance. CFG is a decentralized asset financing protocol that connects decentralized finance (DeFi) with real-world assets.
The project aims to reduce the cost of capital for small and medium-sized enterprises (SMEs) and provide investors with a stable source of income. The project aims to generate profits independent of the volatility of crypto assets by transferring real monetary value from fiat currencies to cryptocurrencies.
Centrifuge is trading at $0.3465, up 8% intraday. The market cap has increased by 8.35% to $182,054,876. Year to date (YTD), CFG has surged 70%, outperforming 59% of the top 100 crypto assets.
CAT
Simon's Cat (CAT) is quickly gaining attention among new projects with market viability. CAT is a meme-based cryptocurrency with unique features and growth potential. Impressively, Simon's Cat has seen a 69% price increase in a week leading up to the expected airdrop. This sharp increase has sparked interest among cryptocurrency enthusiasts and investors, boosting its market appeal.
Simon's Cat (CAT) is trading at $0.000022511, up 1.25% intraday. Meanwhile, CAT remains optimistic about its price prediction. In particular, five technical analysis indicators suggest a bullish trend.
All in all, Simon Cat shows good growth prospects and continues to attract interest from the crypto community. Its recent performance and upcoming events suggest good prospects and it is a project worth keeping an eye on.
ROSE
Oasis Network (ROSE) shows great upside potential, with its wedge formation signaling a bullish trend in early 2024. Currently, ROSE is priced at $0.05324, having dropped slightly by 1.09% in the past 24 hours. Despite the slight drop, the coin has experienced 15 up days in the past 30 days, indicating positive momentum 50% of the time.
As a platform supporting decentralized finance, Web 3.0, NFTs, and metaverse applications, Oasis Network is well positioned to thrive in a bull market. The network demonstrates strong market participation with its high liquidity relative to market capitalization.
The current price prediction suggests that ROSE could rise by 229.53% and could reach $0.17894 by October 1, 2024. This prediction suggests that the future of Oasis Network is promising as long as market conditions remain favorable.
STRK
StarkNet announced the release of version 0.13.2 to provide users with a better ecosystem experience. Specifically, these features designed to improve network transaction management include parallel execution and block packaging.
Parallel execution is a key feature of this update. Traditional blockchain transactions are processed sequentially, meaning that instructions are executed one after another. However, in the case of severe network congestion, the capacity and speed of this system will be limited.
However, StarkNet is facing challenges after a recent airdrop. Data from the StarkNet Foundation’s Dune dashboard shows a significant drop in active users (DAU) on Independence Day. The data shows that active users plummeted 98% from 298,400 on February 20, the day before the airdrop, to 6,100 on August 26.
Despite these setbacks, StarkNet’s future outlook remains positive. For example, current forecasts suggest that STRK could grow by 227.82% and could reach $1.182815 by September 28, 2024.
PEPE
A recent analysis shows that an institutional-grade crypto wallet associated with Binance’s custody service Ceffu has made a significant investment in Pepe Coin (PEPE). According to Lookonchain data, the wallet withdrew 1.48 trillion PEPE tokens worth $11.6 million from Binance in two transactions: 1 trillion and 481.84 billion PEPE.
Over the past year, Pepe Coin’s price has surged 856%, outperforming 96% of the top 100 crypto assets such as Bitcoin and Ethereum. The token is trading above its 200-day simple moving average (SMA) and is currently 582.71% above its 200-day SMA of $0.0₅1101. This indicates strong market performance and high liquidity according to its market cap.
The current price prediction suggests that Pepe might rise by 227.90% and might reach $0.00002436 by October 1, 2024, thus pointing to a positive outlook.
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