As 2024 approaches, the Cryptocurrency market has witnessed standout leaders, breaking through volatility and delivering significant profits. These coins have attained their status thanks to strategic developments, accepted milestones, and strong buying pressure, driving notable price increases.
In this analysis, TinTucBitcoin reveals the top five cryptocurrencies of 2024 and uncovers the factors driving their success. The article also examines whether these assets can maintain momentum and achieve similar progress in 2025.
MANTRA (OM)
OM, the core Token of the layer-1 MANTRA Blockchain, is leading the list of high-performing altcoins in 2024. This year, the price of MANTRA has increased by up to 9,445%. This massive price increase may be related to the rising demand for coins associated with the concept of Real World Assets (RWA), in which MANTRA is included.
For many, RWA has the potential to unlock wealth for global investors. For this reason, MANTRA has engaged in numerous partnerships, thereby increasing demand for OM. At the beginning of the year, the price of OM was around 0.040 USD.
However, this coin reached a historical high of 4.60 USD on December 11. Currently, OM is down 22.25% from that peak and is trading at 3.58 USD. On the daily chart, OM reaches new highs almost every time it breaks out of a descending triangle.
As seen above, this occurred in June. A similar phenomenon also took place between mid-October one and October two. With this coin forming a similar trend, it is likely to surge back. If that happens, the price could rise to 5.50 USD in the first few weeks of 2025.
Daily analysis of Mantra (OM) coin. Source: TradingView
However, if the demand for RWA Tokens decreases, this may not happen. Instead, the value may drop below 2.50 USD.
Mog Coin (MOG)
Ranking second on the list of top-performing coins of 2024 is Mog Coin. MOG is a Meme Coin based on Ethereum, with a price increase of 5,337% this year. In comparison, the Ethereum blockchain has not had many meme coin breakouts this year.
But for MOG, it stands out and reached a record high of 0.0000040 USD on December 6. At the time of writing, the Token is trading at 0.0000022 USD and has recently dropped by 47.70% from that peak.
From a technical perspective, the daily chart shows that the Awesome Oscillator (AO) has fallen into negative territory. AO uses recent and historical price movements to measure momentum.
Daily analysis of Mog Coin. Source: TradingView
When the index reading is positive, momentum is bullish. But since it is negative, the momentum around MOG is bearish. If sustained, the value of the Meme Coin may drop to 0.0000016 USD. However, if buying pressure increases, the prediction may be invalidated in the short term.
Popcat (POPCAT)
Another Meme Coin on the list of top-performing coins of 2024 is POPCAT. As the name suggests, POPCAT is a cat-themed Meme Coin. However, unlike MOG, it is developed on Solana.
This year, the price of POPCAT has increased by 3,169%. However, initially, the price was even higher due to a special spike in the second quarter of the year.
However, a significant sell-off has pushed the price of the Meme Coin down to 0.73 USD.
At the price level of 0.73 USD, POPCAT is down 64% from its peak of 2.05 USD. On the daily chart, the Token appears to be nearing the oversold area. This is due to the Relative Strength Index (RSI), which measures momentum, declining to 32.20.
In context, a Cryptocurrency becomes overbought when the RSI reaches 70.00 or higher. It is oversold when it slips below 30.00. Therefore, it seems that the Meme Coin on Solana is nearing the end of its correction.
Daily analysis of Popcat. Source: TradingView
If confirmed, the value of the coin could bounce back to 1.28 USD as long as there is buying pressure. In the coming year, the value of the Meme Coin could be higher if demand continues to increase. However, if the broader market enters a bearish cycle, this may not come true.
Aerodrome Finance (AERO)
AERO, the governance Token of Aerodrome Finance, an Automated Market Maker (AMM) and decentralized exchange (DEX), has emerged as one of the highest-performing Cryptocurrencies of 2024.
Built on the Base network, AERO has garnered significant attention due to the widespread adoption of Coinbase's Layer-2 solution.
Furthermore, the rise of this coin has been strongly driven by a significant development—Binance has listed AERO on its perpetual market. This listing has significantly boosted liquidity and accessibility, contributing to a massive price increase of 1,981% this year.
Currently, the price of AERO is 1.47 USD, with the daily chart showing significant support at around 1.05 USD. Nevertheless, the Moving Average Convergence Divergence (MACD) indicator has fallen into negative territory.
This indicates bearish momentum around the Token. If momentum continues to decrease, the price of AERO could drop to 1.07 USD in the short term. Failure to defend the support level of 1.05 USD could worsen the situation, as the price could slide down to 0.89 USD.
Daily analysis of Aerodrome Finance. Source: TradingView
Conversely, if the bulls defend the support level at 1.05 USD, the trend could change. In that aspect, the altcoin could rise to 3 USD.
AIOZ Network (AIOZ)
AIOZ ranks fifth on the list of the highest-performing coins of 2024. Since the beginning of the year, the price of AIOZ has increased by 624.40%. This price increase may be related to the project's underlying foundation around Artificial Intelligence (AI) and Decentralized Physical Infrastructure Network (DePIN).
Both AI and DePIN have maintained their status as one of the solid stories of 2024. Thus, the combination of both sectors has ensured that the price of AIOZ climbed to an annual high of 1.20 USD.
Although it is one of the high-performing cryptocurrencies of the year, the daily chart shows that AIOZ has fallen below the 20-period exponential moving average (EMA) in blue and is close to sliding below the 50 EMA (gold).
Daily analysis on AIOZ Network. Source: TradingView
If the price of the altcoin falls below the 50 EMA line, AIOZ may endure a prolonged correction down to 0.58 USD. On the other hand, rising above these indicators could invalidate this theory, and the price could rise to 2 USD.