Even today’s most popular cryptocurrencies have humble beginnings. By the time it reached its present peak 10 years later, Bitcoin, for example, had grown in value by a staggering 6 million percent from its low point of $1 in early 2011 to that point.
The value of ETH, the second-most valuable cryptocurrency, has increased by more than 1.6 million percent and has seen rises that are very similar to these. These instances are not unique.
The cryptosphere, however, is full of examples of penny cryptocurrencies that eventually explode, increasing their value and investor profiles at rates that are hard to fathom.
We have already entered October 2023, and the markets are looking good. There is a small bullrun, and this could be a great time to buy some penny cryptocurrencies which are priced under 1USD.
However, this is not a financial advise, and investing in penny cryptocurrencies involves financial risk.
Before exploring the penny cryptocurrencies, let’s understand what factors I personally look into, before investing my money in these cryptocurrencies which are priced below 1USD.
Penny Crypto Investing Guide: How I choose my Penny Crypto?
To be honest, I do not invest into cryptocurrencies just because they are less than a dollar. I check 5 things before clicking the buy button and today, I am going to share with you the exact strategy I follow
- Marketcap
- Trending
- Fundamental Analysis
- Technical Analysis
- Onchain Analysis
Marketcap
I prefer investing in cryptocurrencies whose marketcap is higher than 100M USD.
Trending
Is the cryptocurrency trending? Are crypto investors talking about these penny cryptocurrencies on their social media, mainly twitter? If yes, I take very short trade. This is only to rise the momentum. Exit time can be few hours to 1-2 days or at max 7 days. If the coin is not trending, I try to look it from long term perspective.
Fundamental Analysis
I love doing fundamental analysis, ofcourse except for Memecoins. If you are interested in learning how I invest in memecoins, I recommend you to check this guide: My Guide to Memecoin Investing in 2023. If not memecoins, I like to check the team, their investors, what technology are they in (like layer 1, layer 2, other infrastructure products, decentralised exchanges, or any other protocol). Here, I prefer cryptocurrencies that are largely funded by top tier VCs like Binance Labs.
There are many other things I check while doing fundamental analysis. You can refer to this example guide where I have done fundamental analysis of Ethereum.
Technical Analysis
In Technical Analysis, I mostly check 3 important things:
- RSI
- MACD
- Moving Average
Also, I see, if overall volume is increasing with increase in price, and:
How far is the coin away from the last bottom?
Has the token dropped by 90% already from its ATH?
Is the price staying almost the same from last 3 months? and many more such questions.
Onchain Analysis
Onchain Analysis can tell exactly what is happening with the cryptocurrency. Are the number of holders increasing? Is the TVL growing? Is the blockchain project profitable? Is the company profitable – generating any trading fee? A few tools that you will find helpful:
So, by now it must have been very clear that a deep research is important before investing your money in penny cryptocurrency or any cryptocurrency in general. Now that we know, let’s check the top penny coins under 1USD to watch out for in October 2023.
Top 10 Penny Cryptocurrencies under 1USD to Watch Out in October 2023
We’ll explain the top 10 penny cryptocurrencies in this article to assist you in making an informed purchase. The greatest chance of eventually blowing up and greatly increasing your investment is with these.
- Pepe
- eCash
- Dogecoin
- Shiba Inu
- Vet
- FTM
- Bat
- ADA
- MANA
- SAND
PEPE: Best Penny Cryptocurrency Under 1USD
PEPE is the most trending cryptocurrency of 2023, and is the first toad cryptocurrency to enter the top 100 cryptocurrencies by marketcap. Today, Pepe is trading at $0.00000078 with a marketcap of $305,086,022. PEPE is already listed on Binance and I think after the first run, PEPE is well position to take off and reach the top 20 cryptocurrencies by marketcap (in 2023).
eCash (XEC)
eCash or popularly known as XEC is second in my list of top penny cryptocurrencies. Earlier known as Bitcoin ABC, eCash is a fork of Bitcoin. XEC, as of 1st October, 2023 is trading at $0.00002494 with a marketcap of $487,597,849. eCash is also available on Binance.
The cryptocurrency network eCash advertises itself as wealth redefined. With high-speed transactions, eCash is utilized for payments all over the world without a bank account. The Bitcoin cash ABC network, which consists of a group of seasoned developers and started in 2017, is an extension of the Bitcoin cash project that gave rise to eCash.
The network is known as eCash, eCash XEC is the platform’s native cryptocurrency, and Bitcoin ABC is a software company that communicates with and manages the eCash network. Following a hard fork in the Bitcoin cash network, eCash was created. Initially known as Bitcoin cash ABC with the ticker symbol BCHA, it eventually changed its name to eCash with the ticker code XEC.
Compared to the other crypto coins, the eCash network is unique. The developers have a sizable quantity of tokens that will be issued in the future in other coins. Inflation in the coin’s economy may result from the release, however 92% of eCash XEC has already been distributed on the cryptocurrency market. As a result, there won’t be much fresh token supply. The XEC price is expected to increase to $0.00008014 in 2023 and $0.00012104 in 2024, according to experts’ predictions.
eCash price at the time of writing: $0.00002494 USD.
Dogecoin: Top Meme Cryptocurrency – Elon Musk is a Holder
Third in my list is Dogecoin, which is also known as king of memecoins. It originated as a fork of Litecoin, which was a fork of Bitcoin. Shiba Inu, a Japanese dog breed, is the source of the name. It employs the same proof-of-work mining algorithm as Bitcoin. By shortening the confirmation period for each block in Dogecoin to one minute, it outperformed Bitcoin. Apart from its fame as a tipping coin, it is also utilized as a payment token on numerous platforms. Before it made it onto the list of top cryptos, it really gained popularity as a free tipping cryptocurrency.
Given its constantly growing community, adoption as a payment token by well-known organizations like Tesla, and the possibility that it may begin extending use cases as recently stated, it is now one of the most well-liked penny tokens and cryptocurrencies to invest in. Its value has increased significantly as a result of support from well-known people and corporations. Despite the fact that Dogecoin’s value has dramatically dropped over the last eight months, the coin still has outstanding support from social media networks.
The price of Dogecoin is expected to reach $0.1000 by the end of 2023 and $0.4500 by the end of 2024, according to pricing projections.
Dogecoin’s price, as of October 1, 2023, at the time of writing: 0.062USD
Shiba Inu: Best Penny Cryptocurrency to Buy Under 1 USD (Lowest Price)
The second-most valuable meme coin is the Shiba Inu, which is also one of the most widely used joke currencies. We included SHIBA INU in our list of the top penny cryptocurrencies on #4th position because of the community it has built for itself.
SHIB rose by more than 5 million percent during the initial 2021 crypto market rise, making a tonne of investors incredibly wealthy. We highlight it here because we anticipate a further uptrend in its pricing, which will essentially make its investors very wealthy.
The rebounding crypto market and the renewed enthusiasm surrounding meme currencies are a couple of the variables that we think will make this achievable. The introduction of an NFT marketplace and a token Launchpad is another step taken by the Shiba Inu developers to broaden the Shiba Inu ecosystem.
Additionally, they have greatly boosted the burn rate for SHIB tokens and worked with several e-commerce businesses to accept SHIB payments. All of these are anticipated to spur an increase in the value of SHIB tokens, and during the next market rally, which may occur in 2025, we anticipate a SHIB token increase of up to 10000%.
Shiba Inu at the time of writing, is trading at 0.0000073 USD with a marketcap of $4,352,401,772.
VET
VeChain is a blockchain as a service platform that caters mostly to businesses that wish to use the Internet of Things to combat counterfeiting. During commerce, it makes use of IoT to track and offer confirmation of authenticity for goods and services. Every product has a barcode with a special code that allows for tracking on the blockchain so that a merchant or customer may learn more about the product’s manufacturing process, including where, when, and how it was made. Customers can use the service to track items while they are in transit to find out where they are going during shipping, for example. Given its application in the sizable supply and logistics sector, it is one of the best Chinese penny crypto to invest in 2023.
Individuals, organizations affiliated with the government, non-profits, for-profit companies, and even corporations can be stakeholders with the ability to vote. They function as three-level master nodes. Vtho and VET are two of its tokens, and they are utilized as a smart currency, a store of value, and a means of exchanging for network gas. VeChain’s price forecast indicates that the coin may reach $0.0357 in September 2022 and $0.0352 in December. The coin’s value is projected to average $0.0376 in 2023, $0.0378 in 2024, and $0.0510 in 2025. In 2030, VET is anticipated to reach $0.12 after continuing its increasing trend during the previous year.
VET Price at the time of writing: 0.017 USD.
FTM
Michael Kong, a full-stack blockchain developer, is in charge of this Ethereum killer. Fantom not only provides smart contract capabilities, but it also provides a safe and extremely secure method of transaction and trading account without any middlemen. Running validators that contribute to the security of the Fantom blockchain is the company’s Hyper Blocks division.
Using an asynchronous byzantine fault tolerance consensus paradigm, Fantom serves as an alternative to Ethereum for transaction validation. As a result, there are minimum costs and very immediate transactions, which enhance accessibility and security. Fantom’s groundbreaking aBFT consensus mechanism, Lachesis, enables it to be significantly quicker and less expensive than more established systems while still being extremely safe.
The trading cryptocurrency market expects Fantom cryptocurrency will perform well thanks to partnerships and community funding. In next 5 years, FTM’s expected price will reach a maximum level of $3.65, an average price of $3.38, and a minimum price of $3.2, which is extremely optimistic but definitely attainable.
FTM’s price at the time of writing: 0.2062 USD
BAT
For the token economy, Basic Attention Token is one of the most well-known cryptocurrencies. Similar to the penny cryptos, BAT aims to upend the multibillion-dollar internet marketing industry. Additionally, by offering you more discretion over the amount of private information advertisers collect about you, it caters to the growing need for online privacy. The majority of BAT tokens are distributed to browser users for free through the Brave web browser, with which it tightly integrates. Additionally, a continuous increase in the number of online marketing brands using the platform and engaging with BAT tokens has been observed.
In the open markets, BAT token trade volumes have also increased. We anticipate that as the platform gains more traction, more brands will swarm to it to capitalize on its advantages. Additionally, Over the next few years, we foresee a gradual rise in the platform’s user base as more individuals start to embrace the privacy-focused token economy. All of these factors, along with a reviving cryptocurrency market and an accelerated adoption of blockchain and crypto technology, will significantly contribute to raising the price of BAT tokens. Having increased in value by about 7000% to its present price, fundamental and technical analysts are sure that BAT token prices will soar to new heights, possibly breaching above $20. And for this reason, we believe that Basic Attention Token is the ideal penny cryptocurrency to buy, hold, and invest in for the long run.
BAT’s price as of 1st October 2023: 0.18 USD.
ADA
Cardano is a severely undervalued currency, therefore it joins our list of the best penny cryptos to purchase in 2022. The biggest smart contract network and one of the strongest potent competitors to Ethereum still trades at a discount, despite being a top 10 cryptocurrency with a market worth of more than $15 billion. However, there is a plausible reason for this. And it is found in the peer review architecture of Cardano. Every software and protocol must first pass peer review before it can be added to the Cardano network, which is unique compared to other blockchains. Cardano has become less flexible and open to embracing new crypto technology as a result. For instance, the smart contract feature was only included in the latter half of 2021.
Because of this, ADA token demand has decreased and their price has remained low. It hasn’t, however, diminished interest in the alternative currency among investors and developers. We anticipate that the ADA token price will have started its strongest upward price correction by the time most of these technologies are launched. As the most valued and practical smart contract platform, several commentators have even predicted that Cardano will someday dethrone Ethereum. Our estimate predicts that ADA tokens will be worth roughly $30 by the end of the decade, having risen in price by more than 6000% since their current price.
ADA’s price at the time of writing: 0.256 USD.
Also read: Top Blockchain Projects in Cardano 2022
MANA: Best Penny Cryptocurrency to Buy in Metaverse Niche
The original metaverse project is called Decentraland. It is also conceivably the most well-known and expensive metaverse endeavor. Additionally, it rates highly among the most promising crypto initiatives for the metaverse. However, these aren’t the only factors that make it the top penny cryptocurrency to purchase in 2023.
We also highlight it here since its future is incredibly bright. And we credit a large portion of this to the changes occurring on this blockchain and the incorporation of all the quickly expanding and popularising crypto technologies into the metaverse. For instance, Decentraland already incorporates NFT technology into the metaverse. DeFi, dApp, Web3 applications, and new play-to-earn games are also being integrated into the platform, among other technologies.
These have sparked a great deal of interest in the metaverse concept among cryptocurrency investors. Leading off-chain companies like Adidas, Coca-Cola, JP Morgan, and Samsung have all expressed interest in building on the platform as the number of monthly active people on the metaverse has skyrocketed.
We also think Decentraland will be one of the best cryptocurrencies to invest in October 2023 since it is a young crypto technology in a market that has attracted a lot of attention from the cryptocurrency community. According to our analysis, MANA token values will have risen by more than 5000% to reach $50 by 2030.
MANA’s price at the time of writing: 0.316 USD.
SAND
A community-driven platform called the Sandbox allows authors to sell voxel assets and gaming content on the blockchain. Using SAND tokens, the utility token of the network, participants or players can create, own, and earn money from their gaming experiences in this virtual environment. Using the SAND utility token, the decentralized platform also enables users and creators to own a piece of the game metaverse and take part in its administration and economy. Non Fungible Tokens, or NFTs, are the type of digital assets that participants can generate and submit to the market. The Sandbox Game Maker can then be used to construct games using these NFTs.
The main reason the Sandbox is special is that it brought blockchain technology to the gaming industry. A staggering amount of money may be made in the game industry, which has a big market. The founders wanted to transform the gaming industry by imagining a world where players would be producing and accumulating blockchain-based digital assets. In the game industry, it carves out a space for itself. By the end of 2023, the price of SAND is expected to have dropped to a minimum of $1.61, according to the Sandbox prediction. By 2024, the price of SAND may increase as high as $1.92. In the year 2023, the price of Sandbox SAND is anticipated to range from a low of $0.74 to a high of $1.07. On average, the cost is anticipated to be close to $1.96 for the entire year.
SAND’s price at the time of writing: 0.31 USD.
FAQs
Which is the best penny meme cryptocurrency to buy in 2023?
Best meme cryptocurrency to buy in October 2023 is PEPE.
Which is the best crypto under $1 that will explode in 2023?
According to me, it is PEPE once again. I think it could do another 8x to 10x from the current price.
Which is the cheapest cryptocurrency under $1?
There are many cryptocurrencies that are price below $1. However, from this list, the cheapest is PEPE
Which is the next penny cryptocurrency to boom in 2023?
Though no one can answer this question with absolute correctness, I think BAT, FTM and PEPE can give 5x return before 2025 and 2-3x in 2023.
Should you buy these Penny Cryptocurrencies under 1USD in October 2023?
You can definitely buy some of these penny cryptocurrencies, however if you are buying without understanding the concept of marketcap, then you are doing it all wrong. Cryptocurrencies, though may be priced less does not mean, the marketcap is necessarily lesser too. And, more than the price, what matters most is their market price.
So compare these penny cryptocurrencies by their marketcap, or if you are planning to buy any other penny cryptocurrency too, look at their marketcap.
The ones, mentioned in this article: “Top 10 Penny Cryptocurrencies under 1USD to buy this year” are among the top 100 cryptocurrencies. The reason I chose these cryptocurrencies is because they are widely adopted and are expected to stay in the market and give you returns in the long run.
There could be other penny cryptocurrencies with a very lesser marketcap, which may go to zero. Before buying any penny cryptocurrency, know that most of the project with a marketcap of less than 10Million could be a SCAM and may end up going to ZERO. So before you invest, please do a thorough research. Ask us any question you have in you mind, and we will answer as early as possible.
What we believe to be the top penny cryptos to watch out for in 2023 have been covered in this guide. Investing in most of these over the long term is quite promising. The others mostly benefit from hype to increase their worth, therefore they only see major price changes during market uptrends. To develop your portfolio, they all contribute significantly.
However, consider this as a disclaimer that none of what we have said is an investment advice. Investing in altcoins can reduce your wealth by 90% or more in no time. Please do DYOR and proper risk management before investing. If you wish any other penny cryptocurrency under 1USD to be included in this list, comment below.
