Certain principles in finance are timeless – diversification, the concept of dollar-cost averaging, the importance of maintaining liquidity, the significance of long-term investments, all of these and others.
One such principle is the power of compounding, where modest investments grow significantly over time through reinvested earnings. This concept is especially exciting in the crypto industry, where the potential for substantial returns is magnified.
With penny cryptos—digital assets priced under $1—investors can get in on the ground floor of promising projects.
That’s why, in this article, we will discuss the best penny crypto and other top penny cryptos you can choose to invest in for moonshot profits. Let’s dive in!
What is a Penny Crypto?
Penny cryptocurrencies, or penny coins, are digital assets that trade for very low prices, typically under $1 per coin.
This affordability makes them attractive to new investors or those with limited capital, allowing them to enter the crypto market without a significant initial investment.
However, this low price point comes with a double-edged sword. Penny cryptos are often associated with high risk and high reward. While they hold the potential for explosive growth, there’s also a really high chance of the investment losing all value. Many penny cryptos are tied to projects in the early stages of development, making their success highly uncertain.
Furthermore, penny cryptos tend to be (but not always) more volatile than established cryptocurrencies, such as Bitcoin, Ethereum, Solana, etc. Their prices can fluctuate dramatically quickly, presenting a riskier proposition but potentially offering more rewards for short-term traders.
18 Best Penny Cryptocurrencies You Should Know About: In A Nutshell
In a nutshell, the best penny cryptos to invest in 2024 and beyond are:
- Dogecoin (DOGE);
- Polygon (MATIC);
- TRON (TRX);
- Shiba Inu (SHIB);
- Stellar Lumens (XLM);
- Basic Attention Token (BAT);
- Pepe Coin (PEPE);
- Hedera (HBAR);
- Arbitrum (ARB);
- Bonk (BONK);
- Floki (FLOKI);
- Fantom (FTM);
- VeChain (VET);
- Notcoin (NOT);
- Algorand (ALGO);
- Ravencoin (RVN);
- Chiliz (CHZ);
- Ankr (ANKR).
Now, to review each penny crypto to buy that we mentioned above, read our extended explanation below to understand why we chose those projects in that order.
Best Penny Cryptocurrency to Invest in 2024 and Beyond
1. Dogecoin
- Circulating supply: 144,960,676,384 DOGE
- Total supply: 144,960,676,384 DOGE
- Max. supply: ∞
- Fully diluted market cap: $17,622,672,482
Dogecoin (DOGE) is our top pick when it comes to the best penny crypto, as it is the original meme coin that has caught the attention of the crypto industry.
Trading at a low price has seen huge price spikes in the past, mostly due to social media buzz and celebrity endorsements. Though it started as a joke, Dogecoin has grown into a popular and easy-to-use cryptocurrency built on the Litecoin blockchain. It is perfect for tipping and small payments.
The DOGE community is famous for its lively support, meme-sharing, and charitable activities. Investing in Dogecoin is very speculative, with its value driven mainly by social media trends rather than solid financial fundamentals, making it highly unpredictable.
However, its affordable price and the potential for significant returns fueled by hype make it appealing to some investors looking for high-risk, high-reward options.
2. Polygon (MATIC)
- Circulating supply: 9,892,159,630 MATIC
- Total supply: 10,000,000,000 MATIC
- Max. supply: –
- Fully diluted market cap: $5,432,437,469
Dogecoin might be the name everyone recognizes in the world of penny cryptocurrencies, but Polygon (MATIC) offers a compelling alternative for investors seeking potential growth and a more… profound project.
Unlike Dogecoin, whose value relies heavily on online trends and hype, Polygon boasts real-world utility. It acts as a kind of booster for Ethereum, a major blockchain platform, making it faster and cheaper to use.
This functionality has the potential to attract a broader range of users to Ethereum, which could, in turn, benefit Polygon.
Additionally, Polygon has secured partnerships with important players in the cryptocurrency world, suggesting industry confidence in its technology.
While Dogecoin has already seen a significant price increase, Polygon has room for considerable growth, especially if its technology is adopted more widely.
3. TRON (TRX)
- Circulating supply: 87,182,609,640 TRX
- Total supply: 87,182,954,961 TRX
- Max. supply: ∞
- Fully diluted market cap: $11,220,403,063
Our third pick is TRON (TRX), which we consider a promising cryptocurrency that focuses on creating a decentralized platform for content creation and entertainment.
TRON aims to give…
Read More: 18 Best Penny Cryptos for Moonshot Profits