The global crypto market is booming, buoyed by the election of a pro-crypto candidate as US president. Bitcoin, the benchmark cryptocurrency, zoomed past the $88,000 mark, and altcoins such as DOGE and PEPE, and many more registered double-digit gains in the first two weeks of November. The broader base gains in the crypto market signal a possible prolonged bull run.
The Indian crypto investors are partaking in this crypto rally, with India’s largest crypto exchange CoinSwitch seeing spikes in trading volumes. Though it is difficult to predict the future cryptocurrency to invest in, this blog post will discuss the best crypto to invest in 2024.
1. Dogecoin (DOGE)
DOGE, the meme coin-turned mainstream crypto, is a favorite for community-driven, fun crypto enthusiasts. It is a peer-to-peer, open-source cryptocurrency based on the Scrypt algorithm, similar to Litecoin. Unlike Bitcoin, DOGE has an unlimited supply, which means there is no cap on the supply of DOGE.
While investing in DOGE involves risks typical to cryptocurrencies such as high volatility and heavy reliance on market sentiment, DOGE’s strong community support, and its market performance since inception make it a strong contender as the best crypto to invest now.
2. Pepe (PEPE)
PEPE is a popular meme coin launched on April 15, 2023. It was launched on the Ethereum blockchain and drew inspiration from the internet meme featuring Pepe the Frog, created by cartoonist Matt Furie.
PEPE follows an interesting deflationary model where a small percentage of tokens are burned with each transaction. This mechanism aims to create scarcity, potentially increasing the value of remaining tokens over time.
The innovative tokenomics and strong community backing make PEPE a perfect high-risk, high-return opportunity for crypto investors in 2024. However, investors should always be mindful of the potential risks when investing in cryptos, especially memecoins such as PEPE.
3. First Neiro On Ethereum (NEIRO)
Neiro (NEIRO) is a meme coin launched on July 28, 2024, on the Ethereum blockchain. It is a community-governed coin that has garnered strong support from the crypto community since its launch.
Additionally, Neiro is a limited supply coin, with its maximum supply capped at 1 billion tokens. This creates a sense of scarcity, impacting prices positively in the long run.
The strong community support, decentralized governance, and limited supply make NEIRO one of the top 10 cryptos to buy in 2024.
4. Bonk (BONK)
BONK is the first Solana meme coin launched on December 25, 2022. It gained quick popularity thanks to its unique tokenomics and community-driven model.
BONK emphasizes community governance through the Bonk DAO (Decentralized Autonomous Organization), allowing token holders to vote on important decisions regarding the project’s future. BONK also has unique tokenomics wherein a portion of tokens is permanently removed from circulation with each transaction.
Additionally, BONK has a diverse ecosystem supporting various functionalities, including decentralized trading through BonkSwap, liquidity provision via BonkDex, and secure storage through BonkVault.
This makes BONK a meme coin with diverse use cases, making it a promising contender for your crypto portfolio in 2024. However, inherent crypto risks such as volatility and over-reliance on market sentiment should be considered when making an investment in BONK.
5. Bitcoin (BTC)
The OG cryptocurrency enjoys global recognition and wide investor as well as institutional acceptance with the approval of Bitcoin-based ETFs in the US in January this year.
First launched in 2009, Bitcoin has created immense wealth for HODLers over the years and is expected to do so in the years to come.
The world’s largest crypto by market cap is back in the limelight as it nears the $90,000 mark, riding expectations of a crypto-friendly environment in the US and increasing global crypto adoption.
The long-term wealth creation track record of Bitcoin makes it a perfect investment option for crypto investors seeking a relatively stable crypto asset. This is because, while volatile compared to traditional investments, Bitcoin is relatively stable when compared to memecoins and other altcoins.
6. Ethereum (ETH)
Ethereum, launched by Vitalik Buterin in 2015, is a decentralized, open-source blockchain platform that allows developers to build and deploy smart contracts and decentralized applications (DApps). ETH, its native token, is the second-largest crypto by market capitalization.
Ethereum is the backbone of blockchain innovation and smart contracts. The blockchain is continuously evolving with upgrades aimed at making it development-friendly and rationalizing the transaction speed and fees.
ETH has also created long-term wealth for HODLers, making it an investment-worthy token in 2024.
7. Shiba Inu (SHIB)
SHIB, a meme coin, was launched as a playful alternative to DOGE. Created by an anonymous individual or group known as “Ryoshi,” SHIB has quickly gained popularity and established itself as a significant player in the meme coin market.
Launched on the Ethereum blockchain, SHIB is a limited supply token, with its maximum supply capped at 1 quadrillion tokens. While SHIB was launched as a meme coin, the Shiba Inu ecosystem offers several functionalities such as ShibaSwap, Shibarium, and Additional Tokens such as LEASH and BONE.
SHIB offers strong potential for gains based on its community support, utility developments, and recent market price movements. However, investors should consider risks due to its volatility, and competition within the memecoin market before making an investment decision.
8. Solana (SOL)
Solana, an Ethereum killer, is a high-performance blockchain platform designed for decentralized applications (DApps) and scalable crypto projects. Launched in March 2020 by Anatoly Yakovenko and his team, Solana aims to provide fast, secure, and scalable solutions for developers and users.
Key features such as high throughput, low transaction costs, and a robust ecosystem make SOL (Solana’s native token) a popular token among crypto traders and investors alike.
9. Moo Deng (MOODENG)
Moo Deng (MOODENG) is a newly launched meme coin inspired by the viral baby pygmy hippo named Moo Deng from Thailand’s Khao Kheow Open Zoo. The coin witnessed an exceptional surge post its launch, driven by social media frenzy and speculative trading.
What sets MOODENG apart from other meme coins is the charitable component of the project. The Moo Deng project has committed to donate 100% of trading fees generated through the Moonshot app to the Khao Kheow Open Zoo.
MOODENG has gained momentum and this makes it one of the top 10 crypto in 2024 for short-term gains.
10. bitsCrunch (BCUT)
BCUT is the native utility and governance token of the bitsCrunch network, a decentralized analytics platform focused on providing comprehensive data and forensic analysis for non-fungible tokens (NFTs) and other digital assets. The total supply of the BCUT token is capped at 1 billion, with 60 million available for public sale.
BCUT serves multiple functions within the bitsCrunch ecosystem, including governance participation, network operations, and, incentives and rewards.
BCUT offers potential benefits through its utility in a growing market and community-driven approach. However, investors should not overlook risks typical of new cryptocurrencies, including price volatility and competition.
Conclusion
The global crypto is rallying, presenting an excellent opportunity to make gains. However, crypto investors and traders should not ignore risks such as market volatility and market sentiment swings before investing. Incorporating risk management measures in trade will be prudent when taking positions in the crypto market.
FAQs
1. What is the hottest crypto in 2024?
The hottest cryptocurrencies in 2024 include Bitcoin (BTC), which continues to dominate the market, Ethereum (ETH), known for its smart contract capabilities, and Solana (SOL), which has gained significant attention for its speed and scalability. These coins are leading in both performance and market adoption.
2. What cheap crypto will explode in 2024?
In 2024, MATIC (Polygon) is expected to grow significantly due to its role in addressing Ethereum’s scalability issues. Additionally, Render Token (RNDR) and Superintelligence Alliance are identified as high-growth potential tokens.
3. Which crypto gives the highest return in the future?
In 2024, Bitcoin (BTC) is expected to continue delivering strong returns, having already hit all-time highs and showing significant growth potential. Solana (SOL) also shows high growth potential due to its speed and scalability.
4. Will dogecoin go up?
Dogecoin’s future is uncertain. While some analysts predict a potential surge in 2025, especially with renewed market interest, others caution that its value remains largely driven by hype rather than strong use cases. If the broader bull market continues, Dogecoin could see some gains. However, without a significant change in fundamentals, it’s hard to predict whether it will sustain long-term growth.
