The cryptocurrency market might experience a renewed bull market in 2024. Analysts are optimistic about the potential approval by the US Securities and Exchange Commission (SEC) of one or more spot Bitcoin (BTC) exchange-traded funds (ETFs) early in the upcoming year. Additionally, Bitcoin (BTC) is scheduled for its next halving cycle in April 2024. These two events could collectively trigger a bull run reminiscent of the one observed in 2021.
Should the cryptocurrency market indeed embark on another bull run in the coming year, numerous tokens have the potential to surge in value. In light of this, let’s explore the leading three cryptocurrencies priced under $1 that may undergo significant growth in 2024.
Top 3 Cryptocurrencies Below $1
In 2023, Ripple’s XRP token experienced a noteworthy expansion in value. The surge in the cryptocurrency’s price may be attributed to a decision by a US district court, which determined that selling XRP to retail clients did not violate securities laws. Nevertheless, the legal dispute has progressed to the US high court, and a final judgment is pending. If the high court’s decision aligns with that of the district court, XRP could potentially achieve a new all-time high (ATH). It’s worth noting that, unlike other prominent projects, XRP did not reach an ATH in 2021.
Shiba Inu (SHIB):
Shiba Inu (SHIB) stands out as a widely recognized cryptocurrency, yet it has encountered challenges in building momentum throughout the majority of 2023. Despite the project’s introduction of a layer-2 network earlier this year, it failed to generate the anticipated boost in SHIB’s price. Nevertheless, enthusiasts and investors of SHIB remain optimistic, anticipating a potential rally in the meme coin’s price during 2024.
Cardano (ADA):
Cardano (ADA) is a well-received cryptocurrency poised for substantial growth in 2024. While ADA faced challenges in price performance through much of 2023, it started gaining momentum in mid-October. Since January, ADA has experienced a remarkable surge, with an increase of more than 147%. Despite this positive trend, ADA currently remains down by over 80% from its peak of $3.09, achieved in September 2021, over two years ago. In the event of another bullish market phase, ADA could potentially reattain its previous all-time high.