Most crypto enthusiasts dream of buying low and selling high. This guide explores the best under-$1 gems with the potential to skyrocket during a bull run. Here’s a rundown of the thirteen best penny cryptocurrencies to invest in based on market capitalization, each offering strong growth potential.
KEY TAKEAWAYS
➤ Some of the top penny cryptos in December 2024 include Tron, The Graph, DOGE, PEPE, and SHIB.
➤ While many penny cryptos offer enticing deals during a bull run, it’s crucial to select assets carefully and consider a number of factors including utility, tokenomics, and social sentiment.
➤ Investing in cryptocurrencies can be risky, especially with smaller or lesser-known cryptocurrencies. Never invest more than you can afford to lose.
- Best penny cryptocurrencies to invest in December 2024
- 1. Tron (TRX)
- 2. The Graph (GRT)
- 3. Floki Inu (FLOKI)
- 4. Shiba Inu (SHIB)
- 5. Fetch.ai (FET)
- 6. Dogecoin (DOGE)
- 7. Stellar (XLM)
- 8. Pepe (PEPE)
- 9. Harmony (ONE)
- 10. Zilliqa (ZIL)
- 11. Holo (HOT)
- 12. Ravencoin (RVN)
- 13.Ankr (ANKR)
- Top penny cryptos compared
- What are penny cryptocurrencies?
- What to consider when choosing penny cryptocurrencies?
- Are penny cryptos safe?
- Should you invest in penny cryptocurrencies?
- Frequently asked questions
Best penny cryptocurrencies to invest in December 2024
1. Tron (TRX)
TRON is designed to decentralize the internet, emphasizing high scalability and rapid transaction speeds. Its initiatives like “HackaTron” engage the community in innovative sectors such as DeFi and GameFi, positioning TRON as an attractive option for investors keen on cutting-edge digital assets.
2. The Graph (GRT)
The Graph (GRT) is an intriguing option for those interested in penny cryptocurrencies. Established in 2018 by Yaniv Tal, Jannis Pohlmann, and Brandon Ramirez, this DeFi project initially debuted on the Ethereum blockchain. The primary aim of GRT is to improve information retrieval within blockchains.
3. Floki Inu (FLOKI)
Floki Inu (FLOKI) is a meme coin that blends practical utility with a philanthropic angle, aiming to empower the average person over venture capitalists and hedge funds.
4. Shiba Inu (SHIB)
Since its debut in 2021, Shiba Inu has lit up the crypto community. Many believe it to be one of the best penny cryptos due to ongoing efforts to enhance and expand its ecosystem while remaining true to its meme coin nature.
5. Fetch.ai (FET)
Fetch.ai is an innovative blockchain platform that integrates artificial intelligence and machine learning into its core functionality. Fetch.ai’s unique approach and application in blending AI with blockchain sets it apart from other projects. FET has a market cap of $2,101,403,098.
6. Dogecoin (DOGE)
Initially created as a joke, Dogecoin is the first meme coin cryptocurrency. It often experiences increased price surges when mentioned by the enigmatic tech mogul, Elon Musk. Due to its exorbitant supply, it remains below a dollar but still has potential, due to the volatility of the crypto market.
7. Stellar (XLM)
Stellar is designed to facilitate efficient cross-border transactions and positions itself as a key player in modernizing the international financial landscape. Its role in enhancing and simplifying global payments makes it a valuable asset across both blockchain and traditional banking sectors. As a result, Stellar remains an accessible choice for investors interested in the intersection of blockchain technology and TradFi.
8. Pepe (PEPE)
As the name suggests, PEPE was born from the Pepe the Frog meme. It is a popular ERC-20 token that was launched on the Ethereum blockchain. Due to its large supply, it has not traded above one dollar, making it the perfect penny cryptocurrency.
9. Harmony (ONE)
Harmony is a blockchain platform that utilizes sharding technology to enhance the efficiency and scalability of decentralized applications (DApps). By employing random state sharding, Harmony effectively divides its network database into smaller, manageable segments known as shards. This approach significantly boosts its performance and capacity. The native digital currency of Harmony is the ONE token.
10. Zilliqa (ZIL)
Zilliqa (ZIL) utilizes sharding technology to achieve remarkable scalability and high transaction throughput, positioning itself as one of the best penny cryptocurrencies. It is designed to overcome the scalability issues faced by other blockchains like Ethereum and Bitcoin.
11. Holo (HOT)
Holo is a decentralized cloud hosting platform for peer-to-peer applications, operating on the innovative Holochain framework. Unlike traditional blockchains, Holochain enables the development of distributed apps (HApps) without blockchain’s limitations. The HOT token functions as a temporary stand-in for HoloFuel and is essentially an IOU.
12. Ravencoin (RVN)
Ravencoin was established in early 2018 and is an offshoot of Bitcoin, designed specifically to enhance the creation and transfer of digital assets across its blockchain. It offers a versatile framework that supports a wide array of applications, from tokenized securities and digital collectibles to fungible tokens and representations of tangible assets like gold.
The process of creating new crypto assets on Ravencoin involves burning a certain amount of RVN, the native cryptocurrency of the network. It also employs the KAWPOW mining algorithm, which is resistant to ASIC (Application-Specific Integrated Circuit) mining.
13.Ankr (ANKR)
Ankr operates as a blockchain-based cloud computing platform, leveraging a widespread network of nodes and offering multi-chain tools compatible with different blockchains. For investors, Ankr presents an opportunity to earn through cryptocurrency staking.
*Market capitalizations are based on data from CoinMarketCap as of 10:00 UTC, Nov. 25, 2024.
Top penny cryptos compared
| Cryptocurrency | Ticker | Launch year | Project description |
| Tron | TRX | 2017 | A decentralized blockchain platform designed to build and support high-performance DApps and smart contracts. |
| The Graph | GRt | 2018 | A decentralized protocol for indexing and querying data from blockchains, starting with Ethereum. |
| Floki | FLOKI | 2021 | This meme coin was inspired by the Shiba Inu dog breed, designed to create a community-driven ecosystem with a focus on social impact and charitable initiatives. |
| Shiba Inu | SHIB | 2020 | A platform for facilitating cross-border transactions, aiming to link banks, payment systems, and individuals. |
| Fetch.ai | FET | 2019 | AI-driven blockchain for complex problem-solving, including optimization and machine learning tasks. |
| Stellar | XLM | 2014 | Platform for facilitating cross-border transactions, aiming to link banks, payment systems, and individuals. |
| Harmony | ONE | 2019 | Focuses on scalability and speed for decentralized applications using sharding technology. |
| Zilliqa | ZIL | 2019 | A high-throughput public blockchain platform designed to scale to thousands of transactions per second. |
| Holo | HOT | 2018 | Distributed cloud hosting for peer-to-peer applications built on Holochain. |
| Ravencoin | RVN | 2018 | A blockchain specifically designed to handle the transfer of assets from one party to another. |
| Ankr | ANKR | 2017 | A distributed computing platform that aims to leverage idle cloud resources in data centers and edge computers. |
| Dogecoin | DOGE | 2013 | Dogecoin is the first meme coin, it features a Shiba Inu dog as its mascot. |
| Pepe | Pepe | 2022 | PEPE is based off of the popular Pepe the Frog meme from the comic “Boy’s Club.” |
What are penny cryptocurrencies?
Penny cryptocurrencies are generally defined as those priced below $1. However, this definition isn’t universally accepted, and some people consider tokens under $5 to also be “penny cryptocurrencies.”
The challenge with this classification is that it includes a wide range of cryptocurrencies, from highly valuable ones to lesser-known options. In fact, several of the world’s top 20 cryptocurrencies are priced under $1, highlighting that price alone doesn’t always reflect a cryptocurrency’s market position or potential.
When searching for the best penny cryptocurrencies, one could consider:
- Cryptocurrencies priced under $1.
- Cryptocurrencies are valued around a penny, which could range from fractions of a cent to approximately $0.10.
- Cryptocurrencies under $1 are not ranked within the top 100, 500, or 1,000 in terms of market capitalization.
Our list of penny cryptocurrencies encompasses a variety of these categories. It’s important to remember that investing in cryptocurrencies can be risky, especially with smaller or lesser-known cryptocurrencies. There’s a heightened risk of losing your investment, and these smaller cryptos may not be readily available on the largest cryptocurrency exchanges.
How many penny crypto coins are there?
Given the volatile nature of cryptocurrencies, the exact number of penny cryptocurrencies is not fixed and changes frequently. New cryptocurrencies are constantly being created and launched, while existing ones may fluctuate in price, moving in and out of the “penny cryptocurrency” category.
For the most up-to-date information, it’s recommended to refer to a crypto markets tracking website. Choose CoinMarketCap, CoinGecko, or any other reputable platform that lists and updates the prices and market caps of cryptocurrencies in real time.
What to consider when choosing penny cryptocurrencies?
Here are the main aspects to consider when choosing a penny crypto to invest in:
- Market capitalization and liquidity: Look at the market cap to understand the cryptocurrency’s size and stability. A higher market cap often indicates more stability. Liquidity is crucial for buying and selling without significantly affecting the price.
- Project fundamentals: Assess the underlying project. Does it have a clear purpose? Is the technology sound and innovative? A strong project foundation can indicate long-term viability.
- Development team and community support: Research the team behind the cryptocurrency. Experienced and reputable developers can boost confidence. A strong, active crypto community can indicate a healthy project.
- Adoption and real-world use: Consider if the cryptocurrency has real-world applications and adoption. Tokens with practical use cases are more likely to succeed.
- Volatility and price history: Penny cryptocurrencies can be highly volatile. Review their price history to understand past performance and potential future trends.
- Regulatory environment: Stay informed about the regulatory climate for cryptocurrencies, as changes can significantly impact prices.
- Technology and security: Ensure the cryptocurrency uses robust and secure technology, especially if it’s a newer or less tested project.
- Risk assessment: Be aware of the risks, including the possibility of losing your entire investment. Penny cryptocurrencies can be more speculative and risky compared to more established coins.
- Diversification: Diversifying your crypto portfolio can help manage risk. Don’t put all your funds into a single penny cryptocurrency.
- News and developments: Stay updated with news and developments related to the cryptocurrencies you are interested in, as this can impact their prices and long-term viability.
By taking these factors into account, you can make more informed decisions in your penny crypto investments, similar to how you would approach investing in top cryptocurrencies.
Are penny cryptos safe?
Penny cryptocurrencies, like all investments, carry a mix of risks and potential rewards. Their safety largely depends on various factors, such as market volatility, liquidity, and the legitimacy of the project.
Monitoring tools like the crypto fear and greed index can offer valuable insights into the market’s emotional temperature, aiding in understanding these risks.
Penny cryptocurrencies can offer significant returns but are associated with higher risks. They should be approached with caution, and investments should be based on thorough research. One key aspect of any of these crypto projects is the community supporting them. A strong community and active development team can indicate a healthier and more promising project. Always aim to diversify your crypto investments and be mindful of crypto scams.
Should you invest in penny cryptocurrencies?
Some penny cryptos are likely a good buy. Many also present passive income opportunities, including staking and yield farming. Penny cryptocurrencies offer opportunities for significant returns, especially during a bull run. Whether they’re priced under one cent, are popular meme coins, or undervalued crypto, these assets can be a smart element of a balanced crypto portfolio.
However, keeping abreast of crypto market trends and understanding investment strategies is crucial. Thorough risk assessment is key when considering any investment, but especially with crypto. If you do want to purchase some penny cryptos, only invest what you can afford to lose, and remember profits are never guaranteed.
This article is not financial advice, it is for informational purposes only. Investing is risky and you could lose money. Never invest more than you can comfortably afford to lose.
Frequently asked questions
Common misconceptions about penny cryptocurrencies include the belief that they are all scams, which is not true as many legitimate projects exist. Another myth is that they guarantee high returns. This is also incorrect, as decentralized asset classes are known for being exceptionally volatile.
Investing in penny cryptocurrencies involves both risks and potential rewards. The safety of these investments depends on factors such as market volatility, liquidity, and the project’s legitimacy. Doing your due dilligence research to see if penny cryptos fit your investment portfolio goals is important.
Yes, some penny cryptocurrencies are available on Coinbase. The platform lists a variety of low-priced cryptocurrencies, though availability can vary based on market demand and regulatory considerations. Users can check Coinbase’s listings to see which penny cryptos are currently offered.
Research current market trends and look for penny cryptocurrencies with strong fundamentals, like ingenious technology or a growing user base. Consider recent news, developments, and community support. It’s crucial to diversify your investments to mitigate risks.
A penny crypto is a cryptocurrency that is priced at less than one dollar. They are known for their low cost and high volatility and often have smaller market capitalizations compared to more established cryptocurrencies.
Identifying which small crypto will explode requires analyzing market trends, technological innovation, and adoption rates. Look for cryptos with unique use cases, strong development teams, and increasing community interest. However, predictions are speculative, and such investments carry significant risks.
Cryptocurrencies under $1 with potential for explosion often have strong community backing and innovative technology or are part of a growing sector like DeFi or NFTs. Research and monitoring market trends are essential in making this determination. Remember, investing in these assets involves high risk.
The crypto coin with the highest return historically varies and is influenced by market trends, technological developments, and investor sentiment. High returns often come from either well-established coins or emerging cryptos that capture market attention. However, high returns usually come with high risks.
The best penny crypto to buy depends on its potential for adoption, technology, market trends, and the team behind the project. Look for cryptos with solid fundamentals and growth potential. Always diversify your investments to spread risk.
Penny cryptocurrencies can be bought on various cryptocurrency exchanges that list them. Create an account on a reputable exchange, complete the required KYC process, deposit funds, and then purchase the desired penny crypto. Research and select exchanges that offer a wide range of penny cryptocurrencies.
Penny cryptocurrencies can be bought on various cryptocurrency exchanges that list them. Create an account on a reputable exchange, complete the required KYC process, deposit funds, and then purchase the desired penny crypto. Research and select exchanges that offer a wide range of penny cryptocurrencies.
Penny cryptocurrencies can be bought on several cryptocurrency exchanges, including major platforms like Coinbase and Kraken, as well as on decentralized exchanges (DEXs). Choose exchanges with good reputations, security measures, and a wide selection of penny cryptos.
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