In the midst of the cryptocurrency market’s inherent volatility, a distinct window of opportunity beckons for investors seeking strategic entry points.
A unique group of cryptocurrencies, currently priced below $0.10, has captured the attention of keen market observers.
Backed by decent fundamentals and supported by vibrant communities, we identified three such digital assets on October 13 that hold promise and potential appeal for savvy investors.
Verasity (VRA)
Verasity (VRA) is an open-ledger ecosystem developed to combat advertising fraud and offer open access to infrastructure for publishers and advertisers through the utilization of artificial intelligence (AI), machine learning (ML), and blockchain technologies.
Over the past year, the token’s price soared by 27%, outperforming as much as 82% of the top 100 cryptocurrencies over that period, according to CoinCodex data.
The crypto asset recorded 15 green days in the last 30 (50%), and has strong liquidity based on its current market cap. At the moment, VRA is trading at a 95% discount compared to its all-time high, underscoring upside potential should the broader crypto market rebound.
On the other hand, traders should be wary of the token’s volatility, which currently sits at nearly 18%.
Verasity was sitting at $0.004583, up 1.8% in the past 24 hours. In the last week, the token shed over 20%, though its monthly performance remains strong at more than 14% in gains.
Dogecoin (DOGE)
Dogecoin (DOGE), the world’s favorite and biggest meme coin, has been struggling to make a major price breakthrough recently, trading in a limited range in recent weeks.
Along with its price, DOGE’s daily transactions have also been trending downward, with a daily average of around 37,000, suggesting waning investor activity.
Despite this, analysts at IntoTheBlock remain bullish on the meme-inspired coin, forecasting a possible surge in Dogecoin transfers.
Meanwhile, Kabosu – the Japanese Shiba Inu dog that inspired the development of the Dogecoin meme and DOGE cryptocurrency – is getting her own statue in Sakura, Japan, next month. The move comes after a fundraising campaign for the statue last year, with some arguing the event could spur a resurgence in interest in the crypto asset.
DOGE was changing hands at $0.05785 at the time of publication, up 0.24% on the day, but down around 5.5% in the past week and month.
This week, Dogecoin co-founder Billy Markus slammed the Dogecoin community for its lack of productivity, adding that developing for DOGE’s blockchain only causes “pain and stress.” Although Markus’s remarks are negative, there is a chance it could prompt developers to ramp up their efforts and introduce new projects on the blockchain.
Sweat Economy (SWEAT)
The Sweat Economy, commonly known as SWEAT, is a cryptocurrency project that has evolved from the well-known fitness app, Sweatcoin.
Introduced to the market in 2016, Sweatcoin has successfully attracted a user base exceeding 110 million individuals worldwide. Its primary mission revolves around incentivizing and promoting healthier living by providing rewards to users for their daily physical efforts.
At the moment, SWEAT is the third most-trending crypto asset on CoinCodex, only behind Loom Network (LOOM) and XRP.
At its current market price, the token is trading above its 200-day simple moving average (SMA), with its price rising in 20 trading days in the last 30 (67%).
On another note, there are certain risks associated with SWEAT, including high volatility and its underperformance compared to other top 100 cryptocurrencies. However, if SWEAT manages to garner the attention of the wider crypto masses, it could turn out that its current price was actually a limited discount offer.
The token was trading at $0.01 at press time, up 0.68% in the past day, down 2.5% on the week, but up over 40% on the monthly chart.
The aforementioned cryptocurrencies have exhibited the potential for price appreciation, even in the face of market slowdowns that have impacted the flagship decentralized finance (DeFi) assets.
Nevertheless, it’s vital to remember that the crypto landscape can undergo rapid and dramatic shifts. Therefore, conducting thorough research and staying informed remains critical for anyone looking to navigate this dynamic space.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
