15 Best Penny Cryptocurrencies To Invest in 2024

The cryptocurrency world is changing fast with some projects ready to change everything in 2024 and beyond. Let’s get into the distinctive features and possibilities of the top penny cryptos to invest in 2024: they are Shiba Inu, Floki Inu, Pepe Coin, Bonk, VeChain, DarkLume and 5thScape among others; let us discuss why these tokens may be worth your money.

List of 15 Best Penny Cryptocurrencies for the year 2024

• 5SCAPE
• DLUME 
• SHIB:
• PEPE
• VET  
• XDC
• JASMY
• BONK
• NOT 
• BTT 
• BEAM
• FLOKI 
• GALA
• DOG 
• XEC

5thScape (5SCAPE)

Market Cap:$2.41T

Current Price:$0.0001676

In the VR cryptocurrency space, 5thScape is leading the way by merging virtual reality and augmented reality into an immersive gaming experience. One of their main games is titled Cage Conquest, which involves archery, racing, fighting and sports. This combination of games gives players a varied and entertaining experience. They expect to raise $15 million for expansion in order to improve its VR equipment and deliver top-notch game play.

Pros

• 5thScape is at the forefront of marrying VR with cryptocurrencies, which makes it attractive to technologically wise investors.
• For all gaming enthusiasts, there is something at 5thScape.
• The projected growth and funding can bring about state-of-the-art inventions that will have massive returns on investment.

Cons

• There might be risks associated with unpredictability within the VR and cryptocurrency markets.
• In this sector of the economy one should maintain innovation levels considering how much competition it has to face so as not to be left behind.

DarkLume (DLUME)

Market cap:$27.26M
Current price:$0.0015

DLUME broke this trend by focusing on luxurious living devoid of any pressure from competition where people could freely engage themselves in rewarding activities (DLUME). Currently it’s in its pre-sale phase making DLUME tokens look quite attractive as one of the best penny cryptocurrencies aimed at early lure. The project’s wide-ranged vision aims at capturing more attention thereby placing DLUME as a forceful player within the blockchain industry.

DLUME uses advanced blockchain technology to provide users with a mix between virtual luxury and interaction that promises a seamless metaverse experience (DLUME). By concentrating on non-competitive leisure activities and strong community interactions, DLUME wants to become a leader in the emerging digital landscape.

Pros

• Revolutionary utilization of luxury lifestyle through blockchain technology.
• Offers an uncompetitive yet fulfilling metaverse experience.
• Potential for high returns on early investment in an expanding market segment

 

Cons

• These kinds of projects typically face early stage market volatility issues typical for new entrants in blockchain.
• Regulatory uncertainties prevail over the cryptocurrency and metaverse sectors.
• Scaling and maintaining user engagement within virtual environments is a daunting task.

Shiba Inu (SHIB)

• Market Cap:$9.6B
• Current Price:$0.00001624

Launched in August 2020, Shiba Inu (SHIB), which is an Ethereum based token has become a decentralized community-driven currency. Initially created by “Ryoshi” anonymously, this token rapidly grasped attention due to its attractive looks and endorsements from notable figures such as Elon Musk and Vitalik Buterin; hence the SHIB token, often referred to as a “meme coin,” is now accepted in many places either directly or through third party services.

SHIB, like other penny coins that operate on the smart contracts of Ethereum blockchain have also decentralized financial transactions. Its main goal is creating an eco-system driven by the community wherein users can gain financial freedom.

Pros

• A strong community supporting it strongly influences its growth.
• Increasing acceptance as a payment option.

Cons

• Potential investors should know that: High volatility and speculative character.
• The regulatory uncertainties in digital currencies.

 

Pepe Coin

Market Cap:$4.94B

Current price: $0.00001176

PEPE, a deflationary memecoin built on the Ethereum blockchain pays homage to the iconic Pepe the Frog internet meme created by Matt Furie. PEPE was launched with simplicity in mind so that it could capitalize on the popularity associated with meme coins such as Shiba Inu and Dogecoin. Unlike several digital currencies, PEPE does not pay any taxes and openly admits that its only use case is for memes purposes.

In spring 2023 it rose rapidly making market cap $1.6 billion dollars leading to newfound wealth for early adopters who had been determined to form a community around it. This rally marked what some people termed ‘memecoin season’ thereby causing fast price movements of other memecoins which followed after them.

Pros

• Simple tax policy ideal for investors who prefer clarity
• Strong support from within communities like social media engagements are active
• Potential earl stage gains could make millionaires out of Investors
• To leverage off meme coin popularity such as that of Shiba Inu and Dogecoin.
• It has clear roadmaps for growth and exchange listings.

 

Cons

• Nevertheless, lack of use beyond being a meme implies possible limited future use.
• Susceptible to volatility in market conditions brought by speculative trading.
• Regulatory uncertainties concerning meme-based digital currencies.

VeChain (VET)

Market Cap: $2.33T

Current price: $0.02648

VeChainThor (VET) is a powerful business-level smart contracts platform that has launched in 2015. This merges IoT technology and NFC chips into blockchain, enabling real-world uses for enterprises and addressing data management issues across industries.

A two-token system with VET as the store of value and VTHO used for transaction fees is what VeChain adopts to ensure stability and cost efficiency. The platform also introduces fee delegation so that the smart contracts can handle the transaction costs for users with more data processing optimizing fast and reliable transactions.

Recently, VeChain launched VeBetterDAO in collaboration with the Boston Consulting Group, aimed at encouraging sustainability oriented decentralized applications (dApps). Through this movement, it seeks to promote enterprise and individual adoption of blockchain paving the way for Web3 integration in years to come.

Pros

• VeChain provides robust enterprise-class IoT+blockchain solutions.
• Its dual token model guarantees economical cost management as well scalability.
• Strong partnerships with industry leaders enhance adoption and sustainability initiatives.
• Focus on real-world applications in supply chain management and sustainability.

Cons

• Regulatory ambiguities within the Cryptocurrency & Blockchain domain could adversely impact its operations.
• Volatility of the market might affect VET tokens’ worth leading to possible investment risks.

 

XDC Network

Market cap: $430.2M

Current price:$0.03143

XDC Network is an Ethereum Virtual Machine (EVM)-compatible Layer 1 blockchain making headway in trade finance & tokenization of Real World Assets (RWAs). XDC Network utilizes a delegated proof-of-stake (dPoS) consensus mechanism which ensures swift transactions, low gas fees, and high throughput. Currently, 312 master node candidates support the network; 108 are active validators. Each operator stakes 10 million XDC tokens.

Currently XDC 2.0 is undergoing testing on the network’s testnet ahead of its upgrade release. Developed by Princeton University’s Pramod Viswanath along with Hash Laboratories’ Fisher Yu; XDC 2.0 is intended to improve consensus security through a judiciary branch mechanism that enhances Byzantine fault tolerance (BFT) with automated accountability measures.

Pros

• Rapid transactions.
• Low gas fees.
• High transaction throughput.

• Strong security enhancements in XDC 2.0.

Cons

• Potential risks of staking large amounts of XDC tokens.
• Dependency on successful implementation of the XDC 2.0 upgrade.

JasmyCoin(JASMY)

• Market Cap:$1.29B
• Current Price:$0.02622

JasmyCoin (JASMY) is a cryptocurrency initiative by Jasmy Corporation which is an Internet of Things (IoT) provider based in Tokyo. It integrates IoT with blockchain technology to recover and guard personal data sovereignty, giving users total control of their information. The platform connects service providers with data users, creating a secure environment for data exchange between IoT devices and decentralized protocols.

Pros

• Users are empowered because they own and control their data completely.
• Data security through storage and transmission is ensured by the use of blockchain and IPFS technologies.
• Privacy of data is heightened through edge computing on the platform.

Cons

• The price volatility can be extreme for JASMY.
• Jasmy’s success hinges on its wide usage and integration into IoT ecosystems.

BONK

• Current Market:$1.89B
• Market cap:$0.00002707

BONK was designed specifically to bring liquidity back to Solana DEXs. It started trading on December 30, 2022 after it attracted significant attention from the crypto community during its launch on December 25, 2022 when Solana’s SOL token soared by 34% in just 48 hours.

This BONK coin was developed as a community project to foster inclusiveness among all dApps running on Solana network. The main purpose being that every human being has a chance thus tokens were distributed among Solana NFT collectors, developers as well as artists equally for everyone to have similar opportunities in life.

Pros

• BONK seeks to enhance liquidity within the ecosystem of Solana DEXs.
• By adopting this approach driven by community ensures that there will be massive involvement taking place all over the place.
• Coins are efficiently spread out amongst active Solana users using this method of airdrop encouraging more people to use them continuously.

Cons

• Possible doubts about long-term viability if BONK does not leave enough digital footprint online as a project.
• This random airdrop distribution may not reach the right individuals.

Notcoin(NOT)

• Market Cap: $1.42B
• Current price:$ 0.013892

Notcoin, which started as an internet sensation on Telegram and has become a viral web3 ecosystem with millions of users, leverages an innovative tap-to-earn mining mechanism. It incentivizes users to explore, engage and contribute to decentralized finance by pioneering as a community token. Users earn rewards by finding new Web3 products, participating in interactive games and providing valuable contributions to the community. Moreover, Notcoin functions as a stage for Web3 developers to advertise their projects through targeted campaigns thereby giving birth to an active market place of decentralized applications.

In fact, Notcoin is more than just digital money; it is what paves way for enthusiasts and developers into exploring the possibilities that blockchain technology and decentralized finance can achieve.

Pros:

• The tap-to-earn feature in Notcoin promotes active participation and exploration within the Web3 ecosystem.,
• A strong engaged community thrives because of rewarding users who contribute towards the platform.
• Direct engagement between Web3 developers and their user base facilitated via this app enables them to display their ideas through customized campaigns.

Cons:

• Its value could fluctuate considerably leading to investment risks regarding Notcoin’s future price movements.
• This also implies that there are no clear regulations governing operations of Decentralized Finance (DeFi) platforms including Notcoin.

BitTorrent (BTT)

• Market Cap: $839.51M
• Current price: $0.0000008677

BitTorrent has changed significantly over the last few years from its original form as a peer-to-peer (P2P) file sharing and torrent platform to one that is now decentralized. It was launched in July 2001 and was bought by TRON blockchain platform on July 2018. From then on, it has been integrated with new functionalities including BTT, BitTorrent’s native cryptocurrency token which was introduced in February 2019. BTT operates on the TRON blockchain using the TRC-10 standard enabling transactions within the ecosystem of BitTorrent.

Pros

• By decentralizing control points, it improves privacy and security.
• Token holders can be part of this system which can also be profitable for them.

Cons

• It is subject to changing legal frameworks in different countries.
• Their values are unpredictable due to cryptocurrencies’ price fluctuations impacting BTT Tokens.

Beam (BEAM)

Market Cap:$849.9M

Current price:$0.01718

The Beam network which utilizes decentralized finance and community-driven governance to revolutionize gaming industry consists of $BEAM as the centerpiece of its operation. The Merit Circle DAO holds together Beam’s use of blockchain technology to empower gamers and developers.

The essence of Beam resides within its infrastructure known as Beam SDK; an adaptable software kit used by developers in making their games have a seamless incorporation with various features of Blockchain technology. In this economic environment, $BEAM is important for performing transactional activities and interacting with smart contracts since it is considered as a native currency. Not only does it serve as a utility token for transaction fees but also acts as a governance token inside Merit Circle DAO where the bearers’ interests shape the future of these networks.

Pros

• There are flexible tools provided by Beam SDK for integrating gaming with blockchain technology.
• Holders can participate in decentralized governance decisions.
• They are crucial for smooth interactions involving smart contracts operating within games framework.

Cons

• Cryptocurrencies as investments are subject to price volatility.
• The cryptocurrency market may be impacted by possible regulatory changes.

Floki (FLOKI) 

Market Cap: $1.69M

Current price: $0.0001763

FLOKI, known by many as the cryptocurrency of the people and inspired by Elon Musk’s Shiba Inu, seeks to bring innovation to the blockchain. Floki cryptocurrency, named after Musk’s favorite pet dog Floki, has a devoted community called Floki Vikings. It is unique for its extensive utility programs such as Valhalla: NFT Gameverse and FlokiFi: Decentralized Finance Suite. Additionally, it includes FlokiPlaces—an NFT market—and University of Floki for learning.

The active engagement of this community has often seen it rank highly on social metrics. Its partnerships with Chainlink and ApeSwap have provided evidence of commitment towards building stronger foundations. However, likely investors need to take into account that these tokens are characterized by speculation and inherent market volatility. Instructors in decentralized finance or digital assets will still find FLOKI interesting because of its innovative projects and great backing from an organized community.

Pros

• Innovative utility projects like Valhalla and FlokiFi.
• Strong community engagement and support.
• Partnerships with leading blockchain projects

Cons

• High volatility is common in meme-inspired cryptocurrencies.
• Speculative nature may pose investment risks.

Gala (GALA)

Market Cap: $749.7M

Current price:$0.02248

GalaChain is reinventing the entertainment industry through Gala Games’ web3 ecosystem built on a layer-1 blockchain technology called GalaChain. Initially Gala Games, Gala Music and Gala Film; now GalaChain welcomes external developers by providing open source tools including Galachain SDKS and Creator Portal. By empowering creators and users globally, Gala aims at becoming the first billion-user blockchain platform.

Pros

• GalaChain enables developers to custom make tokens, smart contracts or reward systems.
• Assets on gala chain can be bridged onto other blockchains such as Ethereum or Binance Smart Chain via gateway solutions that create Interchain Liquidity Pool (ILP).
• $GALA rewards can be earned by Founder’s Nodes which also provide voting rights for governance.

Cons

• The value of $GALA tokens can be subject to market fluctuations.
• There might be a learning curve for developers when integrating projects with Gala Chain.

DOG(Runes)

Market Cap:$386M

Current price:$0.003873 

DOG had its launch on the 24th of April, 2024. This was a volunteer-run airdrop to Bitcoin Ordinals community that had no team or presale allocations. DOG works under Runes Protocol thus can be traded on Bitcoin L1, Bitcoin L2s and CEXs. The goal of DOG is to take us to the moon and bring millions into Bitcoin.

DOG uses the Runes Protocol which is built on top of the bitcoin blockchain allowing it to create secure transactions that are also very fast. It aims at offering a fun and engaging platform for introducing millions more people into bitcoin.

Pros

• It’s purely community driven with no team allocation in dog.
• It can be easily tradable within various levels of bitcoin at centralized exchanges.
• DOG exploits advanced technology through the Runes Protocol.

Cons

• The price of DOG can swing wildly.
• Changes in market conditions as well as regulations impact DOG.

eCash (XEC)

Market Cap:$ 647.21M

Current price: $0.0000328

eCash (XEC) is an updated version of Bitcoin Cash ABC (BCHA) meant for everyday transactions. XEC went live on July 1st, 2021 with an aim of simplifying digital payments. “Bits” are base units used by this coin instead of decimals in Bitcoin Cash ABC making it easier for example sending 10 bits instead of 0.00001000 BTC.” Unlike Avalanche Blockchain (AVAX), eCash uses Avalanche proof-of-stake (PoS) consensus layer.

Three key improvements have been focused upon by the developers behind eCash: scaling transaction throughput from 100 TPS to over five million; lowering finality time for transactions; and implementing fork-free upgrades.

Pros

• Transaction process simplified using bits.
• Potential for high transaction throughput rates
• Finality time reduced for transaction
• Efficient security with PoS consensus layer

Cons

• Market volatility risks
• Competition from established cryptocurrencies
• Mainstream market adoption challenges

Things to Consider While Investing in Penny Cryptocurrencies

Consider the following before investing in penny cryptocurrencies:

• Project Team & Reputation: Know the team’s background, past projects and reputation in the industry.
• Project Technology: Evaluate the technology behind it and its potential for practical use.
• Use Case: Analyze the uses of these cryptocurrencies and how they solve real world problems.
• Market Position: Research where this project stands in relation to others in the market as well as its competitiveness.
• Community Support: Measure how involved the community is since a strong one can make or break a project.
• Regulatory Environment: Stay on top of legal changes that may affect viability of your project or even question its legality.

How to Find the Best Penny Cryptocurrencies

Here are various ways to find promising penny cryptocurrencies:

• Research and Analysis: Go through their whitepapers, roadmap, team details etc. for more information about them.
• Social Media and Community Engagement: Look out for trends and discussions on social media platforms like Twitter.
• Technical Indicators: Employ technical analysis techniques with which you will identify possible buy or sell positions.
• Partnerships and Collaborations: Partnerships with established companies show that they have faith in their success while collaborations demonstrate a diverse range of people working towards common objectives.

• Market Sentiment: Use tools like sentiment analysis platforms to understand market mood either positive or negative towards a certain cryptocurrency among other investor behaviors indicators especially during periods when emotions run high amid turmoil markets
• News and Updates: Keep up with what’s happening in the crypto-world today just by reading the latest news concerning it.

Why Should You Invest in Penny Cryptocurrencies

Penny cryptos are a good investment because of their potential skyrocketing returns. They tend to be cheap, which is why most investors want to reap the benefits from what they believe will lead to major movements in prices. Moreover, penny cryptos allow early entry into projects that could explode exponentially. It is important though to do your homework and comprehend these perils as the market can be very volatile.