As 2024 approaches its final stretch, the crypto market has witnessed standout performers that have defied volatility and delivered considerable gains. These top-performing coins achieved their status due to strategic developments, adoption milestones, and increasing buying pressure, driving significant price increases.
In this analysis, BeInCrypto reveals the top five cryptocurrencies of 2024 and the factors that drove their success. The article also examines whether these assets can maintain their momentum and achieve similar breakthroughs in 2025.
MANTRA (OM)
OM, the native token of the layer-1 MANTRA blockchain, is one of the best-performing altcoins in 2024. This year, the cryptocurrency’s price has increased by 9,445%. The price increase could be linked to the growing demand for coins tied to the Real-World Assets (RWA) narrative, which the asset falls under.
For many, RWA has the potential to unlock wealth for investors globally. As a result, MANTRA has engaged in several collaborations, which has increased demand for OM. At the start of the year, the asset was priced at around $0.040.
However, it rose to an all-time high of $4.60 on December 11. Currently, OM is down 22.25% from that peak and is trading at $3.58. On the daily chart, the coin has reached a new all-time high almost every time it breaks out of a descending triangle.
As seen above, this happened in June. Something similar also happened between November and December. With the token forming a similar trend, there is a chance that it could rise again. If that happens, the price could rise to $5.50 in the first few weeks of 2025.
Mantra Coin (OM) Daily Analysis. Source: TradingView
However, this may not happen if demand for RWA tokens decreases. Instead, the value may shrink below $2.50.
Mog Coin (MOG)
Second on the list of best performing coins in 2024 is Mog Coin. MOG is an Ethereum-based memecoin whose price has increased by 5,337% this year. For context, the Ethereum blockchain hasn't had many prominent memecoins this year.
But MOG stood out and reached an all-time high of $0.0000040 on December 6th. At the time of publication, the token trades at $0.0000022 and has recently dropped 47.70% from that peak.
From a technical perspective, the daily chart shows that the Awesome Oscillator (AO) has fallen into the negative region. The AO uses recent and historical price movements to measure momentum.
Mog Coin Daily Analysis. Source: TradingView
When the reading is positive, the momentum is bullish. However, since it is negative, the momentum around MOG is bearish. If sustained, the memecoin’s value could drop to $0.0000016. However, if buying pressure increases, the forecast could be invalidated in the short term.
Popcat (POPCAT)
Another memecoin on the list of best-performing coins of 2024 is POPCAT. As the name suggests, the coin is a cat-themed memecoin. But unlike MOG, it is built on Solana.
This year, the value of POPCAT has increased by 3,169%. However, it was initially more than that, especially during the second quarter of the year.
But a significant sell-off forced the memecoin’s price to drop to $0.73.
At $0.73, POPCAT is down 64% from its all-time high of $2.05. On the daily chart, the token appears close to the oversold region. This is because the Relative Strength Index (RSI), which measures momentum, has fallen to 32.20.
To put this into context, a cryptocurrency becomes overbought when the RSI reaches 70 or above. It is oversold when it falls below 30. Therefore, it appears that the Solana memecoin is nearing the end of its correction.
Popcat Daily Analysis. Source: TradingView
If validated, then the coin’s value could rise to $1.28 as long as buying pressure increases. In the coming year, the memecoin’s value could be higher if demand continues to grow. However, if the broader market enters a bear cycle, this may not happen.
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 best-performing cryptos in 2024.
Built on the Base network, AERO has gained significant traction due to the widespread adoption of Coinbase’s Layer-2 solution.
Furthermore, the token’s rise was amplified by a key development — Binance listed AERO on its perpetual market. This listing significantly increased liquidity and accessibility, contributing to a 1,981% year-over-year price increase.
Currently, AERO is priced at $1.47, with the daily chart showing significant support around $1.05. Despite this, the Moving Average Convergence Divergence (MACD) has dipped into the negative region.
This decline indicates bearish momentum surrounding the token. If the momentum remains bearish, AERO’s price could drop to $1.07 in the near term. Failure to defend the $1.05 support could worsen the situation as the price could slide to $0.89.
Aerodrome Finance Daily Analysis. Source: TradingView
On the other hand, if the bulls defend the support at $1.05, the trend could change. In this aspect, the altcoin could rise towards $3.
AIOZ Network (AIOZ)
AIOZ is ranked fifth on the list of best-performing coins of 2024. Year-to-date (YTD), the price of AIOZ has increased by 624.40%. This price increase can be linked to the project’s fundamentals around Artificial Intelligence (AI) and Decentralized Physical Infrastructure Network (DePIN).
Both AI and DePIN remained one of the solid narratives of 2024. Thus, the combination of both sectors ensured that AIOZ price rose to an annual high of $1.20.
Despite being one of the best-performing cryptos of the year, the daily chart shows that AIOZ has fallen below the 20-period Exponential Moving Average (EMA) in blue and is about to fall below the 50-period EMA (yellow).
AIOZ Network Daily Analysis. Source: TradingView
If the altcoin’s price breaks below the 50 EMA, then AIOZ could face an extended correction towards $0.58. On the other hand, a rally above these indicators could invalidate this thesis, and the price could rally towards $2.
The article What were the main cryptocurrencies that stood out in 2024? was first seen on BeInCrypto Brazil.
