As the New Year approaches, the excitement in the crypto currency market continues, although it has slightly decreased after the sector’s leading asset Bitcoin (BTC) fell below the $42,000 threshold. While the situation with BTC is as such, optimism for altcoins is still preserved. With this optimism maintained, we have compiled altcoins that have the potential to make a big breakthrough in 2024 and are priced under $1 for you.
Dogecoin (DOGE)
Dogecoin (DOGE), despite falling below the $0.10 threshold for the first time since April, maintains high expectations among investors. According to experienced crypto analyst The Coach, DOGE’s recent price drop is nothing more than a normal weekly pullback before a rise, and it continues to be among the altcoins showing upward momentum.
Data shows that DOGE has increased by 31.12 percent since the beginning of the year, which is much less than many other altcoins. At the time of writing, the largest meme coin is trading at $0.09218, with its price having decreased by about 2 percent in the last 7 days but increased by 17 percent in the last 30 days.
Cardano (ADA)
The price of Cardano’s ADA has increased by up to 140 percent since the first day of the year and is preparing to leave behind a successful year. In addition to this increase in ADA’s price, the seventh-largest altcoin by market value indicates further success as the Total Value Locked (TVL) in Decentralized Finance (DeFi) surpasses the $395 million threshold.
Currently, ADA is priced under one dollar, at $0.5636 according to the latest information. Data shows that the popular altcoin’s price has increased by 45 percent in the last month and by 35 percent in the last seven days.
Loopring (LRC)
Market observers and analysts are expecting a 500 percent, in other words, a tenfold increase in Loopring (LRC), a scaling solution that utilizes its technology on the Ethereum (ETH) network’s second layer (Layer 2). LRC has not yet responded with the expected upward momentum.
Current data shows that LRC is trading at $0.2551, with an increase of nearly 5 percent in the last 24 hours. The data indicates that the altcoin’s price has risen by 6.77 percent in the last 7 days and by 4.28 percent in the last 30 days. Moreover, LRC’s price has only increased by 35.17 percent since the beginning of the year, which is a performance below many of its competitors.
Factors such as the high probability of the first spot Bitcoin ETF being approved in the US, expectations of the Federal Reserve starting to cut interest rates earlier than expected, and the upcoming Bitcoin block reward halving, suggest that DOGE, ADA, and LRC, priced under $1, could potentially be very profitable investments. Of course, it is necessary to carefully analyze market dynamics before and after investing in any altcoin on this list.
