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Today’s market dynamics suggest that investors should maintain caution. Sentiments remain notably bearish, with a total trading volume below $81.2 billion in the last 24 hours. This is indicated by the crypto Fear & Greed Index registering a reading of 56, firmly in the “Neutral” territory.
However, several affordable cryptocurrencies have yielded substantial returns for investors despite the downturn, while others have experienced significant declines in market value. This analysis explores some altcoins that investors might want to take into consideration.
6 Best Cheap Crypto to Buy Under 1 Dollar
Several altcoins, including Cat in a Dogs World, Ethena, Wormhole, and JamsyCoin, are experiencing notable upswings. Ethena, in particular, has shown explosive growth since its launch, amassing over $900 million in market cap before a recent consolidation. Analysts are now suggesting that an upward price movement could be imminent.
Meanwhile, 99Bitcoin’s timing presents an opportunity for investors to engage in a potential rally among meme coins. This is particularly advantageous for those who missed earlier meme coin booms. Early investors could capitalize on a surge that might result in nearly a 500% increase.
1. JasmyCoin (JASMY)
The second half of 2024 seems less eventful than the first two quarters for JASMY. Nevertheless, if the proposed legislation permitting Japanese venture capital firms to hold cryptocurrency is passed, local crypto projects like JasmyCoin could experience substantial benefits in funding and market performance.
Meanwhile, JASMY has shown recent signs of price recovery, although bears are strongly upholding the EMA100 trend line, making it difficult for the token to establish a clear upward move. Over the past few days, the JasmyCoin token has towed a bearish direction, reaching a low of $0.027. Currently, JASMY is trading at $0.031, marking a 40.36% increase in the last thirty days and 575% YTD.
Moreover, the bulls managed to push the price above the resistance level of $0.033 2 days ago; however, bears quickly countered, causing a significant pullback. If bears succeed in keeping the price below the $0.03-$0.026 range, increased selling pressure could drive the JASMY/USDT pair down to the next major support level at $0.02.
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— Jasmy-MGT (@JasmyMGT) June 14, 2024
Conversely, if the price rebounds and stabilizes above $0.038, it would signal strong buying interest at lower levels. This movement could propel the pair towards the $0.044 resistance, which may present significant opposition. Surpassing this barrier could open the path for an upward move to $0.05 and potentially extend to $0.056.
2. Cat in a Dog World (MEW)
Cat in a Dog’s World recently partnered with LOCUS Studios to create a 3D animated series. This collaboration seeks to expand the “Cat in a Dog’s World” brand by integrating high-quality animation into the Solana meme coin community. The partnership bridges the gap between mainstream culture and cryptocurrency, enabling a unique experience for global audiences.
The meme coin has started to regain popularity, which saw it surge to an astounding market cap of almost $930 million on March 30, 2024. Despite an 11% decline in the past day, the token has increased by 4.9% over the past month and an impressive 200% over the past year. This may present a potential buying opportunity for investors.
Recently, $MEW witnessed a sharp 11.52% surge in just one day, provoking considerable investor interest. This jump briefly suggested a possible price rally for the cat-themed meme coin, reaffirming it as a viable investment option. The momentum persisted as $ MEW’s value continued to climb until the recent market downturn forced it to pause a push toward its all-time high.
😼📍🐕🌎 https://t.co/3wih3IcxGh pic.twitter.com/czGDE7sVcF
— MEW (@MewsWorld) June 17, 2024
MEW’s tokenomic has been strategically structured to ensure scarcity and continuous price growth. With a total supply originally set at 88 billion tokens, 90% have already been burned, leaving only 10% designated for airdrops to the Solana community. This limited remaining supply and growing demand suggest potential upward pressure on the token’s price.
3. 99Bitcoins (99BTC)
99Bitcoins continues to draw attention with its integrated staking protocol, boasting an impressive annual yield of 1,101% and having undergone a thorough audit by SolidProof. As its presale progresses, the potential for 99Bitcoins appears promising. The ripple effect of the spot ETH ETFs in the US could further drive capital into the crypto market, potentially increasing demand for tokens such as 99BTC.
Furthermore, the project has raised over $2.2 million in its ongoing presale. Its innovative ‘Learn-to-Earn’ strategy aims to transform crypto education. Rather than passively consuming content, users actively participate in courses that include quizzes and interactive tutorials to earn 99BTC tokens, providing financial incentives for learning.
Beyond its engaging Learn-to-Earn feature, 99Bitcoins Token is embarking on an ambitious path forward. Developers have announced their plans to migrate 99BTC from the ERC-20 to the BRC-20 chain. This strategic move aims to set up a comprehensive cross-chain bridge protocol designed to improve accessibility and operational capabilities for all users.
Easy does it $BTC 😅 #Bitcoin has been consolidating in a range between $73,000 and $60,000 for a few months now. 😴
Will the range hold or are we heading lower? 🤔😬 #99Bitcoins #BTC #Cryptocurrency pic.twitter.com/4vQWBaenXW
— 99Bitcoins (@99BitcoinsHQ) June 24, 2024
Moreover, this transition could establish 99Bitcoins as a formidable presence in the crypto space, appealing strongly to Bitcoin holders. The project’s $99,999 BTC airdrop initiative has amplified excitement during the presale phase, offering an opportunity for 99 early adopters to participate in the prize pool.
4. Ethena (ENA)
Ethena, a newly listed synthetic dollar protocol token, has displayed impressive resilience amid a recent market downturn. Despite experiencing an over 8% price drop, ENA has managed to retain most of its gains from the past seven days. The price movement of the token indicates that investors should closely monitor its performance.
Before the recent price decline, Ethena was focused on reaching its all-time high (ATH) target and steadily approached $2. It is currently priced at $0.8978 and is trading close to critical support near the $1 mark. Investors should expect Ethena to consolidate sideways until it breaks above the $1.4 price barrier on the upside.
Currently, Ethena’s short-term Moving Average paints a bullish picture. However, due to limited data, assessing its long-term moving average is challenging, making it difficult to gauge the strength of its trend. Meanwhile, the bearish MACD reading suggests a temporary pullback for the token.
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– USDe in the earn section pic.twitter.com/iPCcBS0vVt— Ethena Labs (@ethena_labs) June 20, 2024
A crucial factor that could influence ENA’s performance in the upcoming weeks is its increasing integration into exchanges. This integration is expected to boost the token’s liquidity and possibly support a push towards the ATH value.
5. Wormhole (W)
Wormhole has experienced significant growth recently, with its current price at $0.3338, reflecting a 33.57% increase in trading activity in the last 24 hours. This performance has positioned it among today’s top gainers in the market. Over the past 24 hours, Wormhole saw a 3% climb before a slight retracement, indicating robust momentum.
Moreover, investors expect the token to recover and continue gaining as the month gradually winds down, with a target price projection of $0.58. Wormhole’s growing adoption drives this anticipated increase in value. Meanwhile, the coin is accessible in SPL on Solana and ERC-20 format on Ethereum and EVM L2s.
Meanwhile, this expansion has significantly boosted Wormhole’s liquidity, evident in its market cap and ranking. Recently, Wormhole has unveiled partnerships aimed at expanding its ecosystem. The project seeks to maintain relevance by enhancing utility and rewarding its holders.
Mantle Network 🤝 Wormhole@0xMantle users can now transfer tokens from over 30+ blockchains, and developers can easily build natively multichain apps with Wormhole. 🌪️ pic.twitter.com/pzDC1URlGe
— Wormhole (@wormhole) June 19, 2024
In summary, investors have shown strong positive sentiment towards W, with the Fear & Greed Index currently at 58, indicating optimism in the market. It may be prudent for investors to consider adding the token to their watchlist in the coming days.
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