Buckle up, crypto investors – the hunt for the next big winner is on.
In a market where fortunes can change overnight, a handful of penny cryptos are generating serious buzz.
From innovative meme coins to new DeFi protocols, these five underdogs might have what it takes to hit $1 in 2024.
1. PlayDoge (PLAY)
First up is PlayDoge (PLAY) – a meme coin that’s got everyone talking.
PlayDoge isn’t your average dog-themed token.
Instead, the developers have reimagined the iconic Tamagotchi as a blockchain-powered game, complete with a lovable Doge mascot.
Players feed their pets, play mini-games, and embark on retro-style adventures, all while earning PLAY tokens.
And the early presale success speaks volumes.
PlayDoge’s presale has raised over $5 million in less than one month, with PLAY tokens on offer for just $0.00512.
Meanwhile, with juicy staking rewards on offer – estimated at 134% per year – there’s yet another way for community members to earn crypto income.
As the Play-to-Earn sector heats up, PlayDoge is positioning itself to benefit.
So, while hitting $1 might sound ambitious, it’s not out of the question if PlayDoge gains traction after hitting exchanges.
2. zkSync (ZK)
Everyone knows that Ethereum has a traffic problem.
Enter zkSync (ZK), a new protocol promising to unclog Ethereum’s network without compromising on security.
It’s essentially like adding express lanes to a busy highway.
Using some clever math (zero-knowledge proofs), zkSync can crank out transactions much faster than Ethereum can.
And since developers rely on quick transaction times, this project is already attracting attention.
Right now, ZK tokens are trading for just $0.163.
Although this is a significant drop from where they were after launching last week, zkSync is still a project to watch, especially if it can deliver on its ambitious roadmap.
3. Ethena (ENA)
Ethena (ENA) is shaking up the crypto market with its unique approach to digital currency.
Its key feature is USDe, a synthetic dollar that’s attracting the attention of both crypto and traditional investors.
Unlike typical stablecoins, USDe employs delta hedging strategies to maintain its peg, potentially offering more stability in volatile markets.
However, Ethena’s ecosystem goes beyond just this synthetic dollar.
The platform also offers staking opportunities, positioning it as an alternative to standard banking products.
Meanwhile, the ENA governance token gives holders a say in the project’s direction.
Currently trading for $0.546, ENA has already entered the top 80 cryptos by market cap.
While it would need to almost double in price to reach $1, Ethena’s smart setup could ensure its long-term success.
4. Base Dawgz (DAWGZ)
Base Dawgz (DAWGZ) is a new meme coin that is causing a stir.
And it’s got much more to it than the countless no-utility joke tokens that flood the market each week.
Picture this: a cartoon pup decked out in base-jumping gear, ready to make its mark on the meme coin sector.
It might sound ridiculous, but it’s already raised over $2 million in presale funding.
But here’s where it gets interesting.
Base Dawgz isn’t confined to just one chain – it’s going multi-chain.
DAWGZ will be available on Base, Ethereum, Solana, Avalanche, BNB Chain, and more.
All of this will be made possible through advanced tech like Wormhole and Portal Bridge.
With a Telegram community that’s multiplying and mentions in top-tier publications like Cointelegraph, Base Dawgz is generating the right kind of attention.
For that reason, DAWGZ is another penny crypto that could be on track to hit $1 this year.
5. Aerodrome Finance (AERO)
Last but not least is Aerodrome Finance (AERO).
This new protocol aims to be the best in class when it comes to liquidity on Base, and it has an exciting plan to achieve that goal.
Aerodrome offers an automated market maker (AMM) platform, but the protocol’s liquidity incentive mechanism is attracting the most attention.
By offering appealing rewards, Aerodrome has already achieved an impressive $585 million in total value locked (TVL).
That’s a figure that has people sitting up and taking notice.
Currently trading for $0.716, AERO has made its way onto CoinMarketCap’s trending cryptos list.
And with the $1 level not far away, Aerodrome Finance looks like a promising addition to the Base ecosystem.
