Investigate the five best cryptocurrencies trading under 1 cent as of November 17, showcasing investment potential within the dynamic crypto landscape.
The global cryptocurrency market capitalization has experienced a decrease of 2.63% over the last day, resting at $1.36 trillion. The overall market volume declined during the same period, registering $67.27 billion, marking a 9.74% decrease.
6 Best Cheap Crypto to Buy Now Under 1 Cent
Decentralized finance (DeFi) contributes $7.99 billion of this volume, equivalent to 11.87% of the total market activity within the past 24 hours. Notably, stablecoins have demonstrated significant participation, accounting for $60.05 billion, comprising approximately 89.26% of the total crypto market volume during this period.
1. Axelar (AXL)
Axelar (AXL) demonstrates promising trends in its trading behavior. Consistently trading above the 200-day simple moving average it signals a bullish trajectory. Over the last month, it has registered gains on 77% of trading days, with 23 green days out of 30. Notably, it hovers near its cycle high and predominantly trades on the KuCoin platform.
Currently valued at $0.568165, Axelar boasts a market capitalization of $268.85 million. It also has a daily trading volume of $6.43 million, surging by 22.68% in the past 24 hours. Moreover, market sentiment leans bullish, with a Fear & Greed Index 63 indicating “Greed.”
Projections suggest potential price movements for Axelar. Amidst a recovering crypto market, it could achieve a maximum price of around $1.11. The average price prediction for 2023 hovers at $0.98. However, if the crypto market experiences a significant downturn, Axelar might see a minimum price of $0.85 in 2023.
2. Dogecoin (DOGE)
A recent analysis of Dogecoin’s performance suggests potential indicators of an upcoming rally within the cryptocurrency. Over the past month, Dogecoin has shown fluctuating signals. However, certain metrics, including on-chain transaction volume and the community-driven narrative of DOGE’s trajectory “to the moon,” hint at a probable surge soon.
While many cryptocurrencies faced declines in the past 24 hours due to consolidation and minor sell-offs, Dogecoin managed to mark a gain of 6.87%. Its price activity over the last week depicts a more than 10% growth. Notably, Dogecoin struggled to match the gains in other prominent cryptocurrencies during October’s rally. However, a shift occurred in early November as increased capital inflow from bullish investors and larger holders elevated the cryptocurrency, surpassing the significant support level of $0.76.
According to crypto expert Rekt Capital analysis, this breakout signifies a potential trend shift, with a projected price target of $0.15 taking shape.
Key on-chain analytics platforms reveal a concurrent spike in on-chain transactions. Santiment, an on-chain analytics platform, reported Dogecoin hitting a total transaction volume of $665 million, the highest in three months. Coinmarketcap data also illustrates a total transaction volume in the past 24 hours, reaching $1.83 billion. A remarkable surge of over 240% compared to the previous day.
Additional highlights include Dogecoin currently trading above its 200-day simple moving average, with 20 positive trading days out of the last 30 (equating to 67%). Its high liquidity, determined by its market capitalization, is noteworthy. Moreover, it’s actively traded on Binance, a prominent cryptocurrency exchange platform.
In summary, various metrics suggest a favorable outlook for Dogecoin, indicating an increased transaction volume and positive price movements. However, the cryptocurrency’s performance concerning its historical trends and the broader market should be monitored for validation.
3. Meme Kombat (MK)
Meme Kombat has garnered attention by integrating gaming and cryptocurrency, offering unique features tailored for gaming enthusiasts. The platform allows users to engage in active betting and passive staking, presenting potential avenues for earning rewards.
This weekend is going to be legendary💪
— Meme Kombat (@Meme_Kombat) November 17, 2023
The presale event, a focal point of interest, offers a staking feature boasting an Annual Percentage Yield (APY) of 112%. This attractive yield enables participants to earn rewards before the official release of the battles feature, enhancing the investment appeal.
At its core, Meme Kombat revolves around meme-based battles. The inaugural season features 11 memes competing for the top spot, with future seasons promising additional innovations and earning opportunities to sustain user engagement.
The presale’s substantial participation signals growing interest in the platform. As such, MK is anticipated to surge further as its unique features and potential gain traction.
Meme Kombat is a unique gaming platform promising lasting benefits for users. Its potential impact on the gaming sector has piqued the interest of niche enthusiasts. At the same time, the MK token, pivotal to the ecosystem, hints at potential growth in the cryptocurrency realm.
Meme Kombat’s innovative approach to merging gaming and cryptocurrency has sparked interest. Its presale success and enticing features position it as a contender within the evolving landscape of gaming-centric cryptocurrencies.
4. aelf (ELF)
aelf (ELF), a cryptocurrency available for trading on platforms like Binance, has demonstrated significant price movements in the past year. Over the last 12 months, its price surged by an impressive 286%, notably outperforming 92% of the top 100 crypto assets during this period. Notably, it surpassed both Bitcoin and Ethereum in terms of performance.
Technically, aelf is currently trading above the 200-day simple moving average, indicating a positive trend in its price trajectory. Within 30 days, it experienced 19 positive price movements, constituting a 63% positive trading period.
Liquidity-wise, aelf exhibits high liquidity owing to its market capitalization, currently at $313.22 million. Likewise, it boasts a 24-hour trading volume of $10.84 million, with a reported market dominance of 0.02%.
Based on historical price points, it peaked on January 8, 2018, at $2.78. Conversely, its lowest recorded price was $0.034194 on March 13, 2020. Since its all-time high, the lowest price observed was $0.034194. However, its highest was $1.258210, marking the cycle high.
In terms of supply dynamics, aelf’s circulating supply presently amounts to 692.07 million ELF out of a maximum supply of 1.00 billion ELF. The yearly supply inflation rate is 32.62%, creating 170.23 million ELF in the past year.
As we host @vntrcapital Singapore Investors Roundtable, our #investment arm – aelf Ventures, had the opportunity to share more about its investment theses, and explore opportunities with fellow VCs and investors from various industries. 🤝 pic.twitter.com/msfmA0TZyz
— ælf (@aelfblockchain) November 16, 2023
Ranked #41 in the Ethereum (ERC20) Tokens sector, aelf’s price prediction sentiment currently leans bullish, while the Fear & Greed Index registers 63, indicating a sentiment of “Greed” in the market. In summary, aelf has showcased remarkable price appreciation, solid performance metrics, and favorable market sentiment. However, investors must conduct thorough research and consider various factors before making investment decisions.
5. Civic (CVC)
Civic (CVC), a cryptocurrency trading on Binance, has exhibited significant movements in the past year. Notably, its price surged by 93% over the last 12 months, outperforming 77% of the top 100 crypto assets within the same period. Currently priced at $ 0.176042 with a market cap of $ 176.04M, Civic holds a market dominance of 0.01%.
Technically, Civic has been trading above its 200-day simple moving average, indicating a positive trend. Moreover, it experienced 23 green days in the last 30 days, accounting for 77% of the observed period, suggesting consistent upward movement.
— Civic (@civickey) November 14, 2023
Furthermore, Civic ranks at #82 in the Ethereum (ERC20) Tokens sector. Its liquidity remains high based on its market cap, indicating a favorable trading environment. Regarding sentiment analysis, the current prediction leans towards a bullish trajectory for Civic’s price. The Fear & Greed Index also stands at 63, signifying a sentiment of greed in the market.
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