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What is the best new cryptocurrency of 2024?
Everyone is always looking for the best new cryptocurrency to invest in. But how do investors choose the right projects? This article will explore the new cryptocurrencies that have the potential to perform well in the coming months and years.
Top 7 New Cryptocurrencies in 2024
Let’s take a look at some of the best-performing cryptocurrencies launched since 2023.
1. Pop Cat (POPCAT)
Popcat is a cat-themed meme coin, and of course, it is one of many. However, this particular project has seen a strong price increase of 22% in the last month, earning it a spot on this list.
It is worth noting that POPCAT tokens have no real utility to speak of and the project is purely for entertainment and/or potential speculative gain.
2. Notcoin (NOT)
Notcoin is one of the promising new cryptocurrencies of this year, which combines utility and entertainment in one game tap to earn hosted on the TON network.
Notcoin was launched in May 2024 and has seen a 56% increase since launch, thanks in part to its listing on Binance, which provided much-needed liquidity to the young project.
3. Celestia (TIA)
Celestia is a “modular” blockchain aimed at addressing scalability and interoperability in the industry. The project is composed of several compartmentalized layers with different purposes. It has a use case of connecting blockchains together, facilitating the creation of dApps with efficient data management and more.
Celestia’s native token, called TIA, has increased by 178% over the past year, despite seeing a decline in value in recent weeks.
4. MANTRA (OM)
MANTRA is a L1 blockchain with a DAO, or decentralized autonomous organization, attached. The scope of the project is broad and includes lending and borrowing services, governance, and yield farming.
MANTRA’s OM coin surged by an impressive 3,590% over the last year, a clear sign of confidence from the market.
The project states that “by combining MANTRA’s secure RWA-centric blockchain with MAG’s established presence in the UAE real estate market, we aim to unlock the full potential of RWA compliance in the Middle East region and beyond.”
With a solid use case and impressive price growth, many analysts have outlined OM as a possible candidate for the next big cryptocurrency. Of course, it is important to remember that with such high gains, a correction may be in order for OM.
Nonetheless, it remains on the list of new cryptocurrencies that could be a huge success for many investors who are evaluating the market today.
5. DAO Water
Another DAO has made the list, this time a project that was originally launched in 2022. While not exactly brand new, the project has seen very little activity until the last few weeks, when its H20 coin saw a 60% price increase, earning it a mention on this list.
The price growth is due to the project transforming into a social DAO and targeting more social media users. H20 coin is used to facilitate the transfer of information across the network.
6. Hops (HOPPY)
Another fallen coin that suddenly gets a new lease of life is the 2023 meme coin HOPPY, a frog-themed coin with no real utility. The project appeared to be in its final stages before a major comeback in the last 30 days that saw a 160% increase in the price of its native HOPPY token.
Given its low social media presence, this coin should be considered very high risk, even for a meme coin.
7. Baby (BILLY)
Another high-performing coin is Billy, which has seen a 140% price growth in the past week. Billy is a meme coin that was launched in 2022 and has seen a surge in trading volume recently, the source of which is unknown at the moment.
Launched on Solana, the project appears to be community-driven after the developer sold his tokens and abandoned his work minutes after the project launched, earning only about $1,000. Today, the coin has a market cap of over $100 million.
Best New Cryptocurrencies to Invest In: What’s the Hottest New Cryptocurrency?
For many cryptocurrency fans, OM is definitely a candidate, becoming a top gainer last week. Our market analyst wrote an in-depth analysis of OM’s price performance in our recent and ongoing Chart of the week series.
Even new cryptocurrencies with potential are difficult to evaluate due to their lack of experience, as a newer token may have a less experienced team and little or no price history to observe.
However, promising new cryptocurrencies may also boast new technologies or never-before-seen use cases, which can help them capture a larger share of the market. The trick for investors is to do very careful due diligence and thoroughly research a project before making an investment.
This means reading the project’s white paper, assessing the team’s reputation, monitoring the project’s social media accounts for spammy or fake-looking activity, and of course, analyzing use cases and pricing.
It is also worth taking a look at upcoming partnerships or sponsorships related to the project.
Risk Management to Find the Best New Coins
Despite the risks associated with new coins, early investments in well-researched projects can yield substantial rewards. Investors should also consider diversifying their portfolios to mitigate potential losses. Keeping an eye on market trends and expert analysis, like our Chart of the Week series, can provide valuable insights into these upcoming opportunities.
Ultimately, the best new cryptocurrency to buy is the one that fits your personal risk management strategy. Traders and investors typically outline profit and loss goals and exits before making an investment and build a portfolio specifically tailored to their plan and needs.
You can read more on risk management under.
Frequent questions
How do I find the best new cryptocurrency?
Cryptocurrencies can be evaluated based on the legitimacy and track record of the team, the project’s use case and any existing partnerships, as well as price history.
What’s the next cryptocurrency to explode?
No one really knows what the next cryptocurrency will explode. Traders typically have a complex and disciplined risk management plan in place that ensures they are not overextending themselves and exposing themselves to too much risk in one area when looking for new cryptocurrency investments. This way, their capital can survive losses in one area and maximize the chances of it lasting long enough to find projects that do well.
Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.