Bitcoin’s recent climb past the $100,000 threshold has triggered a market rally, with Ethereum and other altcoins following suit. Crypto analyst Michaël van de Poppe notes that this pattern resembles the 2017 market cycle, suggesting that altcoins are poised for a major “rotation game.”
According to van de Poppe, this “rotation game” suggests that Bitcoin’s rising price will likely boost investor confidence, which could lead to Ethereum’s value increasing and spark further rallies among other altcoins. In light of this positive outlook, investors are searching for affordable tokens, particularly the best cheap crypto to buy now under 1 dollar.
5 Best Cheap Cryptocurrencies to Buy Under 1 Dollar
Enjin Coin (ENJ), currently ranked #152 in the cryptocurrency market, is priced at $0.359, reflecting a 4.41% increase over the past 24 hours. Injective Protocol (INJ), a decentralized exchange (DEX) based on the Cosmos SDK, has announced its upcoming token burn event for December.
Pepe Unchained ($PEPU) is gaining attention as a new project in the meme coin sector. The 0x Protocol (ZRX) is showing positive market performance. Core (CORE), priced at 1.551961, has experienced a 4.70% decrease in the past 24 hours. Bitcoin has fallen below the $100,000 mark after briefly surpassing it for the first time.
1. Enjin Coin (ENJ)
Enjin Coin (ENJ), ranked #152 in the cryptocurrency market, is currently priced at $0.359, reflecting a 4.41% increase over the past 24 hours. Its market capitalization is $639.59M, supported by a 24-hour trading volume of $86.56M, representing 13.49% of its market cap. The fully diluted valuation (FDV) is estimated at $665.75M, with a total supply of 1.85B ENJ tokens.
Recent trends indicate a bullish sentiment for ENJ, with the Fear & Greed Index scoring 72, suggesting a “Greed” phase in the market. Over the past year, ENJ’s price has risen by 10%. It trades above the 200-day simple moving average (SMA), often interpreted as a positive long-term signal. In the last 30 days, ENJ has recorded 20 “green days,” meaning the daily closing price exceeded the daily opening price 67% of the time. Additionally, ENJ exhibits high liquidity relative to its market capitalization.
Enjin 🤝 @bloktopia
The Enjin virtual HQ in Bloktopia is upon us!
Get ready to elevate the Metaverse experience to the next level 🎮 https://t.co/QEtAaXQLwB
— Enjin (@enjin) December 6, 2024
By the end of December 2024, Enjin Coin is projected to trade within a price range of $0.353898 to $0.463482. Assuming an average price of $0.381276, this represents a potential price increase of 6.40% compared to current levels. For investors, this could translate into a return on investment (ROI) of 29.34% if the higher end of the forecast is reached.
2. Injective (INJ)
Injective Protocol (INJ), a decentralized exchange (DEX) built on the Cosmos SDK, has announced its next token burn for December. This follows the recent burn on December 4, during which over $350,000 of INJ tokens were permanently removed from circulation.
The burn mechanism is linked to protocol revenue and aims to increase token scarcity while strengthening community participation. Rising protocol revenue leads to larger burns, creating a feedback loop that benefits stakeholders. Injective has reaffirmed its commitment to this mechanism as part of its broader strategy to empower its users.
The INJ token plays a central role in the Injective ecosystem. It is used for governance, staking, and participating in protocol decisions, such as voting on upgrades. Recent market performance has been strong. INJ has gained 98% in value over the past year, reflecting a bullish sentiment among investors. Currently, the token is trading at $33.52, with a market capitalization of $3.31 billion.
Over $4.5 Million in $INJ has been staked to earn the upcoming $XION token later today.
Injective was one of the only assets eligible to be staked on one of the largest exchanges today. https://t.co/NZ49qsTU84
— Injective 🥷 (@injective) December 5, 2024
The Fear & Greed Index, which measures market sentiment, currently stands at 72, indicating a state of greed. INJ has consistently outperformed many top 100 crypto assets and is trading above its 200-day simple moving average. Over the past 30 days, it has recorded 19 days where the closing price exceeded the opening price.
3. Pepe Unchained ($PEPU)
Pepe Unchained ($PEPU) is an emerging project in the meme coin space. With its presale nearing its end, it has raised over $70 million, indicating strong interest from retail and whale investors. The project aims to compete with the original Pepe Coin by offering technological advancements and focusing on scalability.
One of the main features of Pepe Unchained is its own Layer-2 blockchain, known as Pepe Chain. This blockchain is built on Ethereum, addressing some of Ethereum’s common issues, such as network congestion and high transaction costs. By adding a secondary layer, Pepe Chain promises faster transaction speeds—up to 100 times faster than Ethereum—along with significantly lower gas fees. This could appeal to both day traders and developers, especially during periods of high market activity. The ability to easily bridge assets between Ethereum and Pepe Chain adds further user convenience.
The presale has been a major success, raising over $73 million. This success results from the backing of a wide range of investors, including large whale investors. Participation is made easy by accepting payments in various currencies, including ETH, USDT, and BNB. The project has also undergone audits from SolidProof and CoinSult, further reassuring potential investors regarding security.
It’s been a long journey, and the $PEPU presale has seen unprecedented demand.
As we approach the 74M hardcap, the journey to establish Pepe Unchained as the go-to chain for meme coin development and trading begins. 👇 pic.twitter.com/CPbkj2Px5p
— Pepe Unchained (@pepe_unchained) December 4, 2024
Pepe Unchained also introduces two notable features designed to support long-term growth. The first is the Pump Pad, which allows users to create and trade meme coins easily. This feature is intended to lower fees and transaction times, offering a solution for Ethereum users deterred by high gas fees. The second feature is the “Frens With Benefits” program, which supports developers working on projects within the Pepe Chain ecosystem.
Visit Pepe Unchained Presale
4. 0x Protocol (ZRX)
The 0x Protocol (ZRX) is showing positive performance indicators. Its price is currently at $0.7833, reflecting a 21.24% increase over the past day. The token holds a market cap of $664.53M and a fully diluted valuation (FDV) of $783.28M. Over the last 24 hours, trading volume has surged to $1.06B, representing a high volume-to-market cap ratio of 152.7%, which suggests strong liquidity relative to its size.
ZRX has a total and maximum supply of 1 billion tokens. Notably, it has experienced a 94% price increase over the past year, trading consistently above its 200-day simple moving average. Over the last 30 days, the token recorded 22 “green days” (days with a higher closing price than opening), accounting for 73% of the period, with a price volatility of 23.09%.
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— 0x (@0xProject) December 4, 2024
Market sentiment is bullish, with a Fear & Greed Index reading of 72, indicating a market leaning toward greed. However, a short-term price drop of -1.36% is projected, with the price expected to reach $0.8181 by 5 January 2025, based on current predictions. Given its high liquidity and positive technical indicators, this could be an opportune moment for potential investors to consider ZRX.
5. Core (CORE)
Core (CORE) is priced at 1.551961, showing a 4.70% decrease in the last 24 hours. Despite this short-term decline, the overall sentiment remains bullish. The Fear & Greed Index, which stands at 72 (Greed), supports this optimistic outlook.
Over the past year, CORE’s price has increased by 208%. It has also outperformed 71% of the top 100 cryptocurrencies, including Bitcoin and Ethereum. Additionally, the token is trading above its 200-day simple moving average. This is often seen as a positive signal for long-term investors. CORE has demonstrated consistent performance, with 17 green days in the last 30 days, representing 57% of the period. Its strong liquidity, relative to market capitalization, further enhances its appeal as an investment option.
By the end of 2024, CORE is expected to trade within a range of 1.562485 to 4.25. If it reaches an average price of 2.69 during December, this would represent a 73.32% increase compared to current levels. If the token hits the upper end of this range, investors could achieve a return on investment (ROI) of 173.64%.
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