Trying to find the next crypto to hit $1 is certainly no easy task. It hinges on a great deal of speculation and an assumption that the broader crypto market will experience an uptrend this year. However, given that the crypto market has been following a cyclical pattern predicated on the 4-year Bitcoin halving cycle, it’s not unreasonable to expect the same thing to happen this year.

In this article, we are going to showcase our picks for the next cryptocurrencies that are likely to break the $1 psychological price barrier.

Next cryptos to hit $1 in 2024:

Dogecoin – The original meme coin

Kaspa – A highly scalable crypto network

ChainGPT – AI infrastructure for the blockchain space

Zilliqa – The first layer 1 chain that uses sharding

Stellar – Crypto project designed to facilitate crypto-to-fiat transfers

These 6 cryptos could be next to hit $1

In the following sections, we will examine our picks for coins and tokens that are mostly likely to hit the psychological $1 mark this year. It’s worth noting that we’ve selected these crypto out of a large pool of cryptocurrencies based on the following parameters:

Crypto must have never traded above $1 before: We wanted to focus on coins that have never reached the price level before and exclude coins like XRP and Cardano that have traded above $1 on multiple occasions.

It is currently trading above $0.01: There are thousands of coins in the crypto market, so we’ve had to draw the line somewhere to make the selection of potential coins somewhat reasonable. The 1 cent mark entails that a coin would have to increase by 100x to reach $1, which is difficult but not impossible in the crypto realm.

Is a top 500 crypto by market cap: A significant market cap does mean that a larger amount of capital is needed to boost the price of a token, but it also ensures that the project in question has a more solid foundation and is more likely to be around in the long term.

1. Dogecoin

Dogecoin (DOGE) is arguably the most prominent example of a cryptocurrency that investors are eyeing as the next $1 candidate. At the height of the 2021 bull market, Dogecoin reached an all-time high value of nearly $0.74, which was tantalizingly close to the $1 mark for many investors. At its highest price point, Dogecoin commanded a market cap of $69.6 billion.

If Dogecoin were to reach $1, its market cap would stand at $144.6 billion, which would make it the third-largest crypto in terms of market cap, trailing only Bitcoin (with a market cap of $1.39 trillion) and Ethereum (market cap of $434 billion).

Dogecoin’s potential to reach $1 is mostly tied to the hype surrounding meme coins and the extent to which the next crypto bull run could lift crypto prices. With the next Bitcoin halving just around the corner and crypto’s historical tendency to rally within months of each halving, we could easily see DOGE reaching $1 this year.

2. Kaspa

Kaspa (KAS) is a decentralized cryptocurrency project focused on high scalability and fast transactions. Utilizing a blockDAG rather than a traditional blockchain, Kaspa aims to offer rapid block confirmations, fostering a more efficient and user-friendly experience.

KAS has already benefited from the interest that the launch of Bitcoin ETFs and the upcoming halving generated this year, having reached a new all-time high of $0.189 in February, recording a 215% uptrend over the past 6 months. The coin is currently trading above 20% removed from that price point, changing hands at $0.147. KAS would need to increase by 6.8x from its current price to reach $1. That would entail a market cap of about $20 billion.

The project has a strong presence on social media and an active development team that could help generate market interest to take the coin to $1.

3. ChainGPT

ChainGPT (CGPT)  is a blockchain-based project integrating artificial intelligence, particularly GPT (Generative Pre-trained Transformer) models, into blockchain technology. It aims to facilitate decentralized AI applications on the blockchain, offering secure, transparent, and efficient AI solutions. The project leverages smart contracts for AI tasks, enhancing data privacy and user control.

Over the past year and a half, crypto AI projects have greatly benefited from the hype surrounding AI, particularly in light of the launch of the hugely popular ChatGPT chatbot. ChainGPT is no exception, having gained more than 1,000% in the past 6 months. 

According to our CGPT price prediction, the token looks primed to break the $1 resistance as soon as mid-April and continue rallying to above $2 by early May. This assumption is based on the state of technical indicators as of late March.

4. Zilliqa

Zilliqa (ZIL) is a high-throughput blockchain platform designed for scalability and speed, using sharding technology to process thousands of transactions per second. It aims to solve the scalability issue in blockchain networks. With its unique consensus mechanism and eco-friendly dual mining opportunities, Zilliqa focuses on enabling secure and efficient decentralized applications.

While it’s true that ZIL is a long shot to reach $1, that doesn’t mean there isn’t a solid case to be made in favor of that happening. Last year, the community voted on a proposal to curtail ZIL inflation, which makes it easier for ZIL to gain value. In addition, a protocol upgrade that went live in January brought EVM enhancements and sharding improvements, improving the project’s prospects as a highly efficient layer 1 blockchain.

At the moment, ZIL is trading at $0.037 with a market cap of $640 million. To bridge the gap to $1, ZIL would have to gain 2,600% and reach a market cap of $17.3 billion. That will certainly be difficult. However, a listing on Coinbase and Kraken could help the token access new liquidity and potentially generate enough momentum to hit $1.

5. Stellar 

Stellar (XLM) is an open-source, decentralized protocol for digital currency to fiat money transfers, allowing cross-border transactions between any pair of currencies. Focused on speed, affordability, and inclusivity, it's designed for both individuals and enterprises. 

The project has a good reputation in the crypto community, having been around for roughly a decade. In the previous two bull runs in 2018 and 2021, XLM surpassed $0.60 on both occasions but failed to push higher than $0.70. 

With the Stellar ecosystem growing and the broader crypto market being a much bigger market overall than in 2018 or 2021, we could easily see XLM get over the hump and reach $1 during the potential 2024 crypto rally. It’s worth noting that our Stellar prediction algorithm doesn’t think the token will manage to achieve that milestone this year, but it still forecasts a very respectable $0.73 high in early 2025.

The bottom line

Projects like Dogecoin, Zilliqa, Stellar, Kaspa, and ChainGPT all feature unique propositions that can help them get over the hump and reach the $1 mark this year. However, their positive price activity will be in no small part connected to the fate of the crypto market as a whole – if Bitcoin and the broader market perform poorly, it’s almost impossible for the coins and tokens featured on our list to actually reach $1.

If you more a more detailed exploration of individual crypto’s chances of reaching $1, we suggest you give the following articles a read:

Will Shiba Inu coin Reach $1?

Will Luna Classic reach $1?

Will Floki Inu reach $1?

Will Pepe coin reach $1?

Will Bonk coin reach $1?

Will Vechain reach $1?