Best-performing cryptos with potential for more gains in 2024 Top-performing cryptos with growth potential include The Meme Games ($MGMES), PlayDoge ($PLAY), Solana (SOL), and Cardano (ADA). $MGMES brings Olympics excitement to memecoins. PlayDoge taps into play-to-earn and meme trends, while Solana and Cardano continued to expand and show promise
2024 has been a rewarding year for many cryptocurrencies. Bitcoin, Ethereum, and Solana investors made attractive gains this year. However, not all crypto coins are gold mines. Some have saturated, while others are looking at a steep downtrend.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} Which best-performing cryptos will record further growth this year? Here is a look at the top five.
The signs of a promising cryptocurrency
Dozens of cryptocurrencies are spawned into the market every month. Not every one of them is worth investing in. Most are hollow projects without any relevant application or use case. Then again, some go on to climb the charts in a few weeks and amass millions of dollars.Investors who buy them early book heavy returns, while those who are late to the party are forced to buy them for a large price. Once a coin has taken off, the profitability starts to decline. Those who buy when the coin is at the peak of the rally end up with losses.
That explains why low entry points are important. Without a low cost of investment, it is unrealistic to expect multifold gains from an asset. Acquiring altcoins in their early stages of development––preferably in the presale stage––mitigates the risk and maximises the profitability.
But timely entry can’t save an investment without any use case or community strength. When it comes to utility coins, market relevance rules above all. In the case of meme coins, speculative appeal and community strength do the job.
The more eccentric and hilarious the theme, the more likely a meme coin is to go viral. For example, meme coins like Dogecoin and Pepe have no purpose. They are unabashedly useless, although ecosystem integrations can drive their organic demand.
For anyone new to the meme coin market, their growth to billions is outrageous. But that’s the way the meme coin market works. A loyal community is the backbone of a meme coin. Altcoins focus on blockchain use cases instead. They serve as payment and reward tokens for a wide range of industries, from gaming to sports and finance.
The tokenomics and roadmap throw light on the long-term potential of a cryptocurrency. An analysis of these two sections reveals whether the project has the strength to stand the test of time. Credibility is another important factor to consider when investing in a cryptocurrency. Security audits reveal the technical competence of an altcoin to a great extent.
Listed below are the five top-performing cryptocurrencies with the potential for more gains in 2024 and beyond.
1. The Meme Games ($MGMES) - Top-performing crypto meme coin with the potential for more gains
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Spotlight Wire
On top of this list is The Meme Games ($MGMES), a meme coin that brings the Olympics fervour to the crypto market with a thrilling 169-metre sprint. Instead of athletes, top meme coins will race for victory in the game. But they are not fighting for themselves. The rewards go to their backers. To join the race, investors should hold $MGMES tokens. It is best to grab the token in the ongoing presale for discounted prices to avoid a hefty price tag later. Presale investors will back a meme athlete.
If their chosen meme coin wins, they get a 25% token multiplier on their presale investment. Being blockchain-based, the winners are selected at random. It rules out foul play. According to analyst Crypto Zeus, The Meme Games could be big.
The presale ends on September 8. High staking rewards await presale investors in the early phases.
Buy $MGMES tokens now2. PlayDoge ($PLAY) – P2E is back
Next is $PLAY, the native token of the much-awaited Doge Companion game PlayDoge. The project has gone viral in the play-to-earn market for its Tamagotchi-style gaming mechanics. The reward potential of a gamer depends on how well the virtual Doge pet is taken care of in the 2D universe. It is loaded with mini-adventures with attractive rewards up for grabs.
Spotlight WirePlayDoge is comparable to altcoins like Floki Inu, which presented a play-to-earn universe packaged as a viral meme coin. The strategy has clearly worked. The $PLAY presale has raised close to $6 million in its viral presale so far. It successfully taps into the DOGE and Tamagotchi craze.https://x.com/PlayDogeGame/status/1817925318117581046
Buy $PLAY tokens now
3. Solana (SOL) – Does Solana have more steam left?
Solana is one of the top-performing cryptocurrencies of this year. As a growing hub for new experimental projects, Solana has been garnering widespread attention. Along with that, the market cap of Solana is expanding. It outranks XRP, Cardano, and USDC with its $68 billion market cap.Spotlight WireSolana 1-year price action, source: CoinMarketCapWith the crypto market cap gearing up for another bull cycle, SOL price predictions are wildly optimistic. If the broader market dynamics are favourable, SOL could climb above $200 soon. 4. Cardano (ADA) – Cardano has yet to see a deserving rally
Cardano is another high-cap cryptocurrency to watch now. While Solana (SOL) has jumped above 500% in a year, Cardano has recorded a mere 11% growth.But things are soon expected to look up. Promising ecosystem developments and growing social media momentum could propel ADA over the next few weeks.
Being high-cap altcoins, it is unrealistic to expect multifold gains from SOL and ADA. Yet, they show large growth potential in the category.
Disclaimer: The above content is non-editorial, and TIL (Times Internet Limited) hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not provide investment advisory services in any manner and the publication of this content does not mean TIL's or Economic Times endorsement. TIL strongly recommends the users to take all steps necessary to ascertain that any information and content provided is correct, updated and verified and/or speak with a qualified investment professional before making any investment decisions.
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This story originally appeared on: India Times - Author:Faqs of Insurances
