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Japan’s Financial Services Agency (FSA) has clarified that non-custodial wallet services employing authentication technology do not fall under the category of crypto asset trading businesses. Meanwhile, Bitcoin (BTC), the largest cryptocurrency by market capitalization, may experience a rally in October despite a weak start to the month. Three indicators suggest a potential upward trend. Currently, BTC is priced at $62,311.60, reflecting a 0.6% decline in the last 24 hours but a 1% increase over the past week.
Historically, October has proven to be a favorable month for Bitcoin. Given these developments, investors are searching for affordable tokens, particularly the best cheap crypto to buy now under 1 dollar, to capitalize on the price climb.
6 Best Cheap Cryptos to Buy Now Under 1 Dollar
According to crypto analyst Captain Faibik, Fantom (FTM) may be gearing up for a potential upward trend. Meanwhile, Shiba Inu (SHIB) has strongly recovered following an unexpected price dip in the past 24 hours.
Starknet has also made significant strides by launching STRK staking on its Sepolia testnet, a key move toward decentralization and strengthening security. Dogecoin has seen notable recent movement, valued at $0.109319, with a 1.73% increase over the last 24 hours. Additionally, FTX has been approved to repay nearly all customers 119% of their allowed bankruptcy claims.
1. Fantom (FTM)
Fantom (FTM) has shown signs of a potential upward movement, according to an analysis by crypto analyst Captain Faibik. The token, which had been trading within a descending wedge pattern for several months, recently broke through a key resistance level, suggesting a shift in momentum.
Captain Faibik’s chart analysis indicates that the breakout from this wedge formation may signal a reversal in the previous downtrend. Typically, this pattern suggests that selling pressure has weakened, allowing buying activity to take over. The breakout occurred as FTM’s price moved above the upper boundary of the wedge, a sign that buyers are gaining control.
This development could represent a turning point for Fantom, which had been trading within a narrow range for some time. With the resistance level now surpassed, the outlook for the token appears more positive. The analyst has identified a target price range of $1.60 to $1.70, a notable increase from current levels.
While the chart suggests bullish momentum, the potential rally is not guaranteed. However, the token could soon reach the predicted price zone if the buying pressure continues.
2. Shiba Inu (SHIB)
Shiba Inu (SHIB) has experienced a notable recovery after an unexpected price drop in the last 24 hours. The meme coin shows signs of improvement, with growth metrics, including the burn rate, on the rise. The burn rate has increased by over 455%, indicating a reset in the project’s key indicators.
Following a recent decline, SHIB is attempting to recover its earlier losses. At the time of writing, the token has gained 1.68%, bringing its price to $0.00001765. It has also managed to break through its previous resistance level of $0.0000174, which now acts as support. This shift could signal a potential price rebound.
The rise in burn rate is also significant. Approximately 2,903,600 SHIB tokens have been sent to dead wallets, raising the total number burned to over 410 trillion. Meanwhile, around 583 trillion SHIB remain in circulation.
For investors, this reset is an important development to watch as it may reflect the health of the Shiba Inu ecosystem. A continued improvement in these metrics could lead to more investment in the token, possibly boosting its value soon.
3. Starknet (STRK)
Starknet’s recent introduction of STRK staking on its Sepolia testnet marks a significant step toward decentralization and enhanced security. As the first Layer 2 network to implement STRK staking, this move aims to refine the process before launching on the mainnet.
During this testnet phase, the requirements will allow broader participation for stress-testing the staking contract. The minimum staking amount is just 1 STRK, a sharp contrast to the 20,000 STRK required on the mainnet. Additionally, the unstaking lockup period is only 5 minutes, compared to the 21 days on the mainnet. These adjustments encourage users to participate actively and test the system under different conditions.
STRK staking is now live on Starknet Sepolia!
As the first L2 to introduce STRK staking, we're accelerating our efforts to make Starknet a fully decentralized and more secure network.
During this testnet phase, the staking requirements allow more participants to stress-test our… pic.twitter.com/bNHy19Fe9e
— Starknet 🐺🐱 (@Starknet) October 8, 2024
If the test is successful, STRK staking will go live on the mainnet in the coming weeks. The current price of STRK is $0.39012, reflecting a 0.84% increase over the last 24 hours. The asset has shown positive performance recently, with 15 green days (where the daily close exceeded the daily open) out of the previous 30, equating to 50% of the month. Moreover, it has high liquidity in its market capitalization.
4. Dogecoin (DOGE)
Dogecoin has shown notable movement in recent times. It is priced at $0.109319 and has risen by 1.73% over the past 24 hours. Over the last year, DOGE experienced a significant 85% increase, outperforming 57% of the top 100 cryptocurrencies during the same period. This indicates a relatively strong performance compared to other assets.
In the past 30 days, Dogecoin closed above its daily open price on 16 occasions, representing 53% of the time, which suggests consistent price activity. Additionally, the coin enjoys high liquidity relative to its market capitalization, making it easier to trade.
Looking ahead to the short term, predictions for the next week suggest a potential decline. The forecast ranges between $0.107916 and $0.096179 by October 21, 2024. If DOGE hits the upper estimate, this would represent a drop of 10.88%.
5. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) has gained significant attention in crypto, recently surpassing $18 million in its presale phase. With a decentralized exchange (DEX) listing approaching, the project offers more than typical meme coin hype, introducing a custom Layer-2 network called “Pepe Chain.”
This technology aims to improve meme coin trading by offering faster transaction speeds and lower fees than traditional blockchains like Ethereum. Pepe Chain’s focus on meme coins differentiates it from broader Layer-2 networks like Arbitrum and Optimism.
In addition to faster trades, Pepe Unchained features a staking option for its native PEPU token, promising potential yields of 121% annually. This adds an extra incentive for holders, appealing to those interested in passive income.
WOAH!
$18M raised! Pepe Unchained is FLYING. Big things on the horizon. pic.twitter.com/U1C41xkuqD
— Pepe Unchained (@pepe_unchained) October 8, 2024
The presale has been successful, with tokens priced at $0.00994 rising as it progresses. Pepe Unchained’s developers have allocated 7.5% of the token supply for liquidity, positioning it for a stable DEX listing once the presale ends. Pepe Unchained has generated interest with its niche focus on meme coins and Layer-2 technology.
6. JasmyCoin (JASMY)
Jasmy (JASMY) has seen a modest price increase. It is valued at $0.019086 and has gained 0.12% in the last 24 hours. Over the past year, Jasmy has shown significant growth, rising by 496%. This performance places it ahead of 89% of the top 100 cryptocurrencies and outpaces Bitcoin and Ethereum during the same period.
Technically, Jasmy is trading above its 200-day simple moving average (SMA), with a notable 306.94% increase over the SMA value of $0.00469. This indicates strong momentum, supported by its liquidity relative to its market capitalization. Jasmy is available on Binance, one of the largest cryptocurrency exchanges, and maintains a low yearly inflation rate of 0.74%.
Looking ahead, price predictions for Jasmy this week suggest it may fluctuate between $0.019109 and $0.024848, with a potential increase of up to 30.03% by October 14, 2024, if it reaches the upper price target. For next week, projections indicate a range of $0.024848 to $0.029317, with a possible rise of 17.99% by October 21, 2024.
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