The cryptocurrency market faced a sharp correction this week. However, the market seems to be regaining traction, with Bitcoin (BTC) gaining 2.5% in the daily charts and the global crypto market cap rising 2.2% in 24 hours to $1.75 trillion.
Moreover, there is a possibility that the crypto market will enter a bull run very soon, as analysts anticipate the US SEC (Securities and Exchange Commission) to approve a spot BTC ETF (Exchange Traded Fund) this month. A spot BTC ETF coupled with BTC’s halving event in April could usher in a 2021-like bull run for the cryptocurrency industry.
Therefore, let’s look at three cryptocurrency projects under $1 that could surge in the first quarter of 2024.
Top 3 cryptocurrencies under $1 for Q1 2024
Cardano (ADA):
Cardano (ADA) is one of the most developmentally active crypto projects. The token has faced a sharp correction of over 9% in the weekly charts. However, the low prices create an opportunity for new investors to buy the token for cheap. Since January 2023, ADA’s price has surged by over 100%. A similar, if not better, scenario may unfold for the ninth-largest cryptocurrency in 2024.
Also Read: Cardano: How High Can ADA Trade In 2024?
XRP:
Ripple’s XRP token is one of the most popular cryptocurrencies for cross-border remittance. However, there is some legal unclarity regarding the status of XRP. The SEC alleges that Ripple’s sale of XRP breaches securities laws. Although a district court ruled that selling XRP to retail clients did not breach securities laws, the suit has entered the high court, and investors are awaiting a verdict. If the high court rules in Ripple’s favor, XRP’s price may surge to new heights.
Dogecoin (DOGE):
Dogecoin (DOGE) is one of the most popular cryptocurrencies out there. However, the token took a backseat in 2023. Since January 2023, DOGE’s price has surged by only about 13%, while other altcoins surged by triple digits. Despite the lackluster performance last year, there is a possibility that DOGE will surge to a new all-time high in 2024. There is talk about DOGE’s inclusion in X’s upcoming payment feature. If so, the memecoin may see a surge in adoption and hence a price rise.
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