If you're feeling FOMO after bitcoin crossed $100k, here are five low-value cryptocurrencies you can buy to make money from the crypto bull run.
It is that time again when we see bitcoin reach new all-time highs instantaneously.
Since November, the flagship cryptocurrency has risen by almost 40%, setting the crypto market into an undeniable bull run. This is when the value of cryptocurrencies increases frequently due to increased investment.
Yesterday, December 4, 2024, bitcoin crossed the $100,000 mark — a day crypto evangelists have always prayed for, and crypto adversaries said would never come.
Bitcoin reaching $100,000 is a significant moment for the crypto market because this is a price point many traders, crypto businesses, and even investors have anticipated for a long time.
However, bitcoin's rise in price in the past 13 years has not instilled confidence in sceptics like Warren Buffet, who does not believe in its fundamentals. He has said bitcoin will go to zero, but the new all-time high seems to defy the veteran investor's prediction.
At the same time, many crypto experts predict that cryptocurrencies like bitcoin will grow in value and also lead a revolution in global finance.
However, crypto is notorious. But this hasn't stopped some investors from making bank. If you want to be one of them and don't have $100,000 to spend on bitcoin, here are five cryptocurrencies you can consider.
Affordable cryptocurrencies you can invest in besides bitcoin
While it is possible to invest in bitcoin at as low as $0.005, it will take a while to see significant returns since it is a large asset in the cryptocurrency market. With a market capitalisation of over $2 trillion, bitcoin represents 52.6% of the entire $3.69 trillion crypto market.
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However, there are lower-priced cryptocurrencies you can buy, and you'll see significant returns on your investment. Here are some of them.
Shibainu (SHIB)
Price: $0.00003176
This is a memecoin that has grown to become one of the most valuable cryptocurrencies in the crypto market with an $18 billion market For cap. At a price of $0.00003176, you can buy thousands of SHIB and see significant returns on your investment.
Pepe (PEPE)
Price: $0.00002225
Pepe is another meme coin that has become a successful cryptocurrency. The token was launched to challenge the likes of Shibainu. Like most cryptocurrencies, Pepe creators say, "There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only."
Bonk (BONK)
Price: $0.00004304
Bonk is also a meme token but has a lot of utility behind it, which makes it a great investment. For example, Bonkbot, a popular Telegram bot that allows people to buy tokens, is one of its utility projects.
Decentrland (MANA)
Price: $0.773
Decentraland is a user-owned virtual world powered by blockchain technology. It allows players to create, explore, and trade in a decentralised metaverse. This is one of the low-priced cryptocurrencies that has a use case behind it.
Dogecoin (DOGE)
Price: $0.4519
Dogecoin is the most valuable memecoin ever created. With a market capitalisation of $66.2 billion, it is the seventh most valuable cryptocurrency in the world, and costs less than a dollar. The coin is also Elon Musk's favourite and has gotten a lot of popularity from the billionaire tweeting about it.
While these cryptocurrencies are a great way to earn from the crypto bull run, it is important to note that their low value also makes them very volatile.
A good way to picture the crypto market is like a body of water and Archimedes' principle of water displacement. A small body of water, like a bucket, for example, can be easily displaced by a small object like a ball; the same ball of water, however, cannot displace a larger body of water like a pool.
This means smaller assets will change easily as investors enter and exit the market.
The biggest loss of funds when looking for cryptocurrencies with low prices and small asset values is rug pulls. These are cryptocurrencies created by individuals who plan to sell off a majority of the total crypto tokens created at the expense of investors.
It is important to note that this is not financial advice and crypto investment can be risky.
