The cryptocurrency market may enter another bull run in 2024. Analysts say that there is a high chance that the US SEC (Securities and Exchange Commission) may approve one or more spot Bitcoin (BTC) ETFs (Exchange Traded Funds) early next year. Moreover, BTC will undergo its next halving cycle in April 2024. Both developments may bring forth a 2021-like bull run for the crypto scene.
Also Read: Bitcoin: Cash-Based BTC ETF May Debut Next Week: Scaramucci
If the cryptocurrency market enters another bull run next year, many tokens may skyrocket in price. With that said, let’s look at the top 3 cryptocurrencies under $1 that could explode in 2024.
Top 3 cryptocurrencies under $1 that may explode in 2024
XRP:
Ripple’s XRP token has seen significant growth in 2023. The cryptocurrency’s price rise could be due to a US district court ruling that selling XRP to retail clients did not breach securities laws. However, the lawsuit has entered the US high court, and a verdict is still pending.
The high court’s ruling may align with the district court. In such a scenario, XRP might hit a new all-time high (ATH). The token did not rally hit an ATH in 2021, as other significant projects did.
Cardano (ADA):
Cardano (ADA) is another popular cryptocurrency that may see significant growth in 2024. ADA’s price struggled for most of 2023, but the token began to generate steam in mid-October. Since January, ADA has rallied by over 147%.
ADA is currently down by over 80% from its all-time high of $3.09, which it attained in September 2021, over two years ago. If the market enters another bull run, ADA might reclaim its all-time high again.
Shiba Inu (SHIB):
Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. However, the token has struggled to gain momentum for most of 2023. The project also launched a layer-2 network earlier this year. However, the launch was not enough to push SHIB’s price. Nonetheless, SHIB fans and investors expect the memecoin’s price to rally in 2024.
