2024-08-27 12:12:18
Авторка: Inna Svatenko 
Best Cheap Cryptocurrencies to Invest in
The high value of a token or coin is not a guarantee of successful investment. In the crypto market, there have been many cases when cheap assets demonstrated impressive growth and brought profit to investors. What is needed for this? You should learn to recognize digital currencies with high growth potential.
We have found the cheapest cryptocurrencies whose value may increase in the coming years.
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Dogecoin (DOGE)
DOGE has significant growth potential in 2024 as it closely follows the Bitcoin price movement. It is the cheapest cryptocurrency on our list. At the same time, it ranks ninth in terms of capitalization and has a good ability to recover from rate hikes.
Altcoin market expert Sherpa expressed optimism about the future of DOGE, stating that the coin is poised for appreciation in 2024. He recommends investors to average their purchases between the $0.12 and $0.14 mark.
Crypto analyst Ali Martinez, based on historical trends, believes that the DOGE exchange rate has the potential to reach the $1 mark in 2024, showing a 700% increase. If this happens, DOGE will surpass the historical high of $0.7316 recorded in May 2021.
Cardano (ADA)
ADA is a cheap cryptocurrency that will grow in the coming years, according to Gracie Chen, CEO of crypto exchange Bitget. According to her, the support of smart contracts by the Cardano blockchain and the creation of decentralized applications on it makes the coin promising.
Over the past year, the ADA rate has gained 33%. The number of smart contracts on the Cardano platform increased by 67%. TVL (total value locked) in its DeFi ecosystem exceeded $450 million (+300% compared to 2023).
In 2024, Cardano will strive to strengthen its position by focusing on educational initiatives and new developments such as stablecoins, software languages, crypto wallets, and multichain solutions, according to Chen. The pursuit of innovation and community support drive the ADA’s course.
Ripple (XRP)
If you’re looking for a cheap cryptocurrency with the potential in 2024, check out XRP. It’s a token from Ripple Labs, a company created to speed up money transfers.
In recent years, a years-long legal dispute with the U.S. Securities and Exchange Commission has heavily influenced the XRP price. Despite Ripple’s recent court victories, uncertainty remains. Experts believe that a partial resolution of the dispute could accelerate XRP’s growth in the coming years.
Analyst Brett Hill predicts that Ripple could grow 10,400% by 2025, reaching a range of $50 to $60. This prediction is based on an analysis of the MACD indicator, which signals strong bullish momentum.
TRON (TRX)
TRX is another cheapest cryptocurrency today with a high market capitalization and growth prospects.
In August 2024, the coin’s value began to increase amid news of the launch of SunPump, a platform focusing on the creation and trading of memcoins, in the TRON ecosystem.
If the current momentum continues, TRX could reach $0.18 in the short term, with the possibility of further growth to $0.20 – $0.30.
Sandbox (SAND)
Sandbox is a blockchain-based virtual world, and SAND is a cheap cryptocurrency that participants use in games and other online interactions.
Sandbox holds great promise due to the growing interest in metaverses and NFTs. If the concept of virtual worlds continues to evolve, SAND could grow in value significantly. The technical forecast of Bitget service indicates that in 2024, the exchange rate will be between $0.1 and $0.96, and in 2025, it may increase to a maximum of $0.96.
How to Choose a Cheap Cryptocurrency That Will Rise in Value?
Before buying a token or coin, look for answers to the questions:
- What is the uniqueness of the project technology that created the cryptocurrency?
- Are there any successful specialists among the developers?
- What problem does the project solve? Does the community support it?
- How does the team plan to develop its idea? With which companies have it already managed to conclude a partnership?
Cheap Cryptocurrencies: Investment Risks
Even if a cryptocurrency is the cheapest, investing in it can still carry risks. Consider that:
- Cryptocurrencies may turn out to be scam projects that aim to raise funds and disappear.
- Low liquidity makes it difficult to sell tokens.
- The exchange rate of cheap coins is more sensitive to volatility, which can lead to losses.
To avoid risks, it is important to thoroughly research a project before buying assets.
FAQ
The rate is influenced by the level of supply and demand, trading volumes, the level of liquidity, the prospects of the project, as well as the general state of the crypto market.
We advise you to start by looking at the project team, roadmap, technical documentation, partnerships, and community adoption rate. Evaluate the market capitalization and trading volume.
They are accessible to investors with limited budgets and can provide access to new technologies. There is a high growth potential if the project is successful.
Pay attention to the Binance, KuCoin, Gate.io, and Bittrex platforms, which offer a wide range of tokens and relatively low commissions.
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