2024 is now upon us and with it comes the opportunity to invest in even more cryptocurrencies. The crypto industry has always been full of options (there are literally thousands of cryptos at any given time) and any investor will be spoiled for choice.
The New Year is always a time to re-strategise and possibly revamp your investment portfolio and it would be worth putting some digital assets into the mix. From the tried and trusted tokens to the newer ones on the scene that are poised to blow up soon, here are the cryptos to consider for 2024.
1. BTC
For over a decade, Bitcoin has proven itself to be a solid investment, year after year. And 2024 will be no different. In fact, one could argue that 2024 is one of the best times to invest in Bitcoin. First, the token has been on the path to recovery after enduring a long crypto winter. It has hit key resistance points in the last few months and shows no signs of slowing down.
On top of this, BlackRock seems to be on the brink of getting approval for its Bitcoin ETF, which will inevitably send the price of Bitcoin higher. There is also the Bitcoin halving which has historically correlated with an increase in the Bitcoin price. The next halving is due in 2024 and all signs point to the Bitcoin market performing well. As such, any investor serious about cryptocurrency might want to have some Bitcoin on their hands.
1. DOGE
It’s easy to overlook meme tokens but they have been proving their value consistently for a while now. Dogecoin came on the scene in 2013 and has remained the top dog of the meme coin world. It is accepted on major online casinos for crypto type of sports betting, can be used to pay for goods and services, and still has a strong community behind it.
Many had assumed that Dogecoin would just be a fad when it came to the limelight but it seems on track to prove everyone wrong in 2024 and beyond.
2. BONK
One of the promising new meme tokens is BONK, which is based on the internet meme of a dog. The token was launched in 2022 and began getting a lot of attention for its staking pools.
As time went on, BONK began growing in value and solidified its status when it was listed on Coinbase. In fact, the demand for BONK was so high that Solana sold out its Saga Andriod phone after word got out that those who ordered it would get free BONK tokens as a gift. BONK has had a very successful 2023 and seems pegged to perform well in 2024. While there are many meme tokens in the industry, this seems like one to bet on.
3. ETH
Ether has been holding its own as the second-biggest crypto in the world for years now and 2024 is poised to be another great year on its books. It has been rumoured that should the Bitcoin ETF go through, an Ether ETF will be next in line and will reap the same benefits in terms of price movements.
2024 will also see the Dencun upgrade go live and this will improve Ethereum’s data processing capabilities, as well as its scalability and security. Big things are coming for Ethereum in 2024 and smart investors will want to invest in the token as they happen.
4. WIF
Another Solana-based meme coin that is making waves is Dogwifhat (WIF), which is based on a meme of a dog wearing a knitted hat. The token has seen a meteoric rise in the last few months, with its market cap reaching the hundreds of millions and scoring listings on exchanges like crypto.com. Fans got even more excited when Binance, arguably the biggest crypto exchange in the world, posted a picture that featured the token’s logo.
This co-sign gave confidence to newer investors and sparked rumours that it would be listed on the exchange soon. Many small and midsized exchanges already list WIF but if it scores bigger listings in 2024, its price will rise even beyond the 2000% spike it has already seen.
5. SOL
Solana is considered one of the ‘Ethereum Killers’ and has been on a winning streak in recent times. The token has seen roughly a 100% price increase in December 2023 alone and seems to be eyeing the $120 price point. Many analysts expect this streak to continue and for Solana to reach the $143 mark eventually. This is due to the current market trajectory, the many use cases its underlying blockchain boasts of, and even the other tokens built on it. Solana is in the top 5 cryptos by market cap and 2024 looks to be a big year for it.
