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The cryptocurrency market experienced significant volatility in April due to sentiment surrounding the Bitcoin Halving. BTC’s price has remained unpredictable for over a month, leading to sideways movement in the daily chart. As a result, investors may want to wait for a clearer signal indicating conviction among buyers to lead the post-halving rally.
The search for the best cheap crypto trading below 1 cent has investors searching the market as the bull run of 2024 takes off. A few cryptos have distinguished themselves among the numerous choices by prospecting for a significant upswing. Today’s analysis highlights five cryptos under 1 dollar that analysts could offer considerable returns.
7 Best Cheap Crypto to Buy Now Under 1 Cent
eTukTuk has attracted significant attention, having raised an impressive $3,147,352 million from investors during its pre-sale phase. Meanwhile, Mew has surged by 33.01% over the past day; Mew has surged by 33.01%, indicating significant and considerable investor interest.
Furthermore, XEC is experiencing an upward trend in the short term, trading at 129.98% above its 200-day Simple Moving Average. Bonk’s impressive 130% surge in just 12 days signals a distinct shift in investor sentiment towards higher-risk assets. Moreover, transaction fees for Bitcoin saw a significant decrease following a notable increase during the halving event.
1. eCash (XEC)
eCash has consistently grown consistently since its inception, with rising highs and lows. Recently, it broke out of a consolidation phase, reaching a resistance level of $0.000056. This surge is partly attributed to the momentum gained from its halving event.
Furthermore, the token is trading at $0.00005511 today, reflecting a mild intraday rise of 0.40%. Besides, XEC has sustained an upward movement in the short term. The token is trading at 129.98% above its 200-day Simple Moving Average (SMA) of $0.00003164. YTD, its price has exploded by 84%, outperforming 50% of the top 100 cryptos during this span.
Moreover, a Relative Strength Index (RSI) below 30 indicates oversold conditions. However, there is potential for a forthcoming uptick in price as sentiment analysis suggests a bullish outlook for eCash. This analysis is demonstrated by a Fear & Greed Index reading of 73 (Greed).
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By the end of 2024, analysts project a maximum price target of $0.000217 for eCash. Under stable market conditions, the average trading price of eCash could hover around $0.000159 by the same year.
2. Bonk (BONK)
BONK maintains bullish market sentiment, supported by a Fear & Greed Index reading of 70 (Greed) and 16 positive trading days out of the last 30. These positive metrics reflect optimism among investors. Technical analysis indicates potential for further growth, particularly if leading cryptocurrencies like Bitcoin and Ethereum regain momentum.
Bonk’s 130% price explosion in just 12 days demonstrates a notable shift in investor sentiment towards higher-risk assets. This exceptional performance, surpassing meme coins like Dogwifhat and Shiba Inu, indicates growing confidence among investors in the meme sector.
As of the latest trading data, Bonk is priced at $0.00002629 and has experienced an impressive upward movement of over 8% in the past 24 hours. This contributes to an overall positive trend in the market and underscores Bonk’s recent momentum, with a remarkable gain of 78.49% over the past seven days.
3. eTukTuk (TUK)
In its ongoing pre-sale, eTukTuk has attracted significant attention by raising a massive $3,206,171.75 from investors. The token, TUK, is currently priced at $0.0305. This price allows early investors to participate in the eTukTuk project before it enters the open market later this year.
As the pre-sale gains momentum, eTukTuk has established an ambitious hard cap target of $10.7 million spread across 26 stages. As the pre-sale progresses, the price per TUK will increase incrementally.
eTukTuk recently launched its highly anticipated game, Crazy Tuk Tuk Taxi, which is now accessible for download on the App Store. The game offers players thrilling races, rewards, and quests while embodying eTukTuk’s sustainable and AI-integrated transportation vision.
Moreover, TUK’s flagship vehicle serves as the inspiration for its decentralized play-to-earn game. The game allows players to navigate the streets of Sri Lanka, picking up and dropping off passengers for earnings. eTukTuk aims to provide eco-friendly transportation solutions while offering users investment opportunities and immediate rewards.
4. Cat in a Dogs World (MEW)
Mew, the feline protagonist, is on a mission to save the crypto world from other dog coins in a canine-dominated world. Priced at $0.006657, Mew has a 24-hour trading volume of $246.28 million and a market cap of $591.69 million, with a market dominance of 0.02%. Its highest recorded price was $0.009878 on March 31, 2024, while its lowest was $0.000966 on March 27, 2024.
Moreover, Mew is ranked 9th and 3rd in the meme coin and Solano token market, respectively. It demonstrates the token’s notable market presence. Mew can be bought on 19 exchanges, including ByBit and KuCoin. It also experienced $230.43 million worth of exchanges in the last 24 hours. This substantial exchange reflects its competitive liquidity.
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Furthermore, the data demonstrates Mew’s unique position in the crypto market, suggesting its potential as an attractive investment. With active trading and widespread availability on exchanges, Mew presents an enticing opportunity for portfolio diversification and capitalization on market trends.
5. Shiba Inu (SHIB)
Shiba Inu has recently seen a surge in its burn rate, reaching a substantial 172%, correlating with a recovery in its price. The increase in burn rate indicates a significant number of SHIB tokens being permanently removed from circulation and transferred to an inaccessible “dead” wallet.
Information provided by Shibburn X on social media reveals that six transactions have resulted in the burning of 5,221,667 SHIB tokens. The token burn represented a 172.16% increase in the burn rate. This heightened burn rate aligns with SHIB’s resurgence in market value.
Moreover, the recent increase in the token’s price coincides with the announcement of a significant upgrade to Shibarium, the company’s layer-2 blockchain solution. This upgrade introduces a new user interface that offers faster, smoother, and more accessible functionality. These improvements are aimed at enhancing user experience and strengthening SHIB’s position in the market.
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Significantly, SHIB is trading 67.72% above its 200-day Simple Moving Average (SMA), which stands at $0.00001619. Furthermore, it has experienced 19 green days out of the last 30. With a 24-hour volume-to-market cap ratio of 0.0546 and high liquidity, SHIB has demonstrated resilience.
6. Pepe (PEPE)
Pepe’s value is primarily tied to its transactional use, demand, and popularity rather than utility. Consequently, Pepe is gaining momentum with its recent surge in popularity and demand for meme coins. The overall post-halving surge in the value of the meme coin market has also impacted Pepe positively. The token has witnessed a price surge, gaining over 56% in the last 24 hours.
The recent surge in activity signifies increased adoption and transactions. It has propelled Pepe to the third position in the memecoin market. Furthermore, Pepe’s trading metrics reinforce the positive sentiment surrounding its price outlook. Its closing price has surpassed its opening price in 18 out of the last 30 days, indicating that green candlesticks characterized 60% of days.
Moreover, the token displays a strong market tempo. It trades near its all-time high and has surpassed the 200-day simple moving average. Analysis of Pepe’s market sentiment reveals an Extreme Greed rating of 80 on the Fear & Greed Index, indicating a growing investor appetite for the token.
The increase in demand can be attributed to Pepe’s deflationary strategy, aimed at achieving token scarcity, and its alignment with the broader meme coin trend, where value is heavily influenced by popularity and demand.
7. Beam (BEAM)
Beam is drawing significant interest due to its consistent price climb throughout April. The anticipation of the Bitcoin halving drives Beam trading at $0.03021, reflecting a 19.89% increase in the last 24 hours. Additionally, investors are bullish on Beam, as evidenced by its Greed score 78. The token’s increasing trading activities fuel this bullish sentiment.
Moreover, Beam has exhibited remarkable market growth over the past year, with an impressive 277% increase. Additionally, it has outperformed 76% of the top 100 cryptocurrencies, including Bitcoin and Ethereum. Beam trades 332.26% higher than the 200-day SMA, which is $0.004690. This strong performance underscores the token’s potential as an investment opportunity in cryptocurrency.
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Furthermore, the token has recorded 20 green days in the last 30 days and boasts high liquidity. These strong fundamentals suggest a favourable outlook for the token, indicating Beam’s ability to attract ongoing investor interest and achieve substantial market expansion.
Besides, analysts predict that if Beam partners with other networks, it could reach $0.1. In a bullish market, the average price could stabilize around $0.08 before April ends. Conversely, in a market downturn, it could nosedive to $0.02.
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