19 Best Penny Cryptocurrency to Invest in 2024

Penny cryptocurrencies are low-cost digital assets that often trade for just a few cents. Their popularity lies in the opportunity to gain significant returns with a relatively low investment. Investors usually target these low-cost assets in the hopes of finding the next “breakout star” in the vast crypto market.

Trying to find exactly that, our team has done thorough research and analysis, bringing you the best penny cryptocurrency to invest in 2024. We’ll also cover their potential pros and cons and how you can select the right penny cryptos for you and your budget.

Pepe Unchained

• Ethereum Layer-2 chain featuring the classic Pepe meme and offering low transaction costs
• Stake $PEPU to earn dynamic staking rewards as massive, passive income
• Pepe Unchained aims to replicate the success of Pepe but with its own ecosystem

Project Launched

June 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  BNB
• 
  Debit
• +1 more

Learn More

Memebet Token ($MEMEBET)

• Fully-fledged crypto casino for meme coin wagering.
• Driven by the native $MEMEBET token players get access to airdrops, bonuses, & more.
• Supports anonymous gaming as well as Crypto Loot Boxes with exclusive prizes.

Project Launched

September 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  Debit
• 
  BNB
• 
  Matic
• +2 more

Learn More

Crypto All-Stars ($STARS)

• Latest meme project offering staking rewards for top meme tokens including PEPE & DOGE.
• Buy, stake and earn 3x rewards with the native $STARS token.
• Crypto All-Stars has developed a unique “MemeVault” staking smart contract for max rewards.

Project Launched

August 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  BNB
• 
  Debit
• +1 more

Learn More

Flockerz ($FLOCK)

• DAO-based meme coin project offering Vote-to-Earn perks.
• Buy and stake $FLOCK tokens to earn massive rewards at a rate of 684.93 per ETH block.
• Token holders earn rewards via Vote-To-Earn mechanics.

Project Launched

September 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  Debit
• 
  BNB
• +1 more

Learn More

Shiba Shootout ($SHIBASHOOT)

• A high-stakes battle project where the Wild West meets crypto
• $SHIBASHOOT holders can buy and stake their tokens for passive rewards
• Offers a Posse Rewards referral program where players can earn bonus tokens

Project Launched

April 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  BNB
• 
  Debit
• +1 more

Learn More

Mega Dice Token ($DICE)

• An exclusive Solana GameFi token hits $300k mark within hours of launch
• Harnessing the lightning-fast speeds and cost-effective features of the SOL blockchain $DICE offers a unique gambling experience
• Offers massive airdrops for casino players in excess of $2.25M, as well as NFTs, early-bird bonuses and a referral program

Project Launched

April 2024

Purchase Methods

• 
  SOL
• 
  ETH
• 
  BNB

Learn More

Sponge V2 ($SPONGE)

• Hot meme coin project with play to earn utility and staking
• Price has pumped 10x in last month, rumored to be listing on Binance
• Over 12k holders and growing

Project Launched

December 2023

Purchase Methods

• 
  ETH
• 
  USDT
• 
  Debit

Learn More

DOGE2014 (Doge2014)

• New ERC20 token celebrating 10 years of original DOGE's reign as king of the meme coins.
• As a PoS token presale investors can buy and stake DOGE2014 token's & earn passive rewards.
• 60% of the 100Bn supply is allocated to the presale with early-bird degens securing DOGE2014 tokens at a discount.

Project Launched

June 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  Debit

Learn More

SpacePay (SPY)

• Innovative FinTech startup revolutionizing payment transactions by integrating blockchain technology with conventional financial infrastructure.
• Native SPY token is the project's utility coin offering holders access to loyalty airdrops, voting power, and early access to exclusive features, products and services.
• All eyes are on this exciting crypto project which is set to launch on 4.5M devices globally by the end of this year alone.

Project Launched

May 2024

Purchase Methods

• 
  USDT
• 
  ETH
• 
  USDC
• 
  Debit
• 
  BNB
• 
  AVAX
• 
  BASE
• 
  Matic
• +5 more

Learn More

Memereum (MEME)

• Groundbreaking BSC token built to reshape financial insurance and offer loans up to 75%
• Buy, HODL and stake your MEME tokens to earn 183% APY rewards
• Investors holding 10,000 or more MEME tokens get state-of-the-art NFTs

Project Launched

April 2024

Purchase Methods

• 
  BNB
• 
  USDT
• 
  ETH

Learn More

DTX Exchange ($DTX)

• Native Token of the DTX Exchange
• Earn Up to 15% in Bonus Tokens
• Upcoming $1 million mega giveaway

Project Launched

May 2024

Purchase Methods

• 
  Bitcoin
• 
  USDC
• 
  DAI
• 
  BNB
• 
  USDT
• 
  ETH
• +3 more

Learn More

Race to a Billion

• Unique blockchain project merging F1 racing with blockchain technology.
• Buy and stake Race to a Billion tokens & start earning passive rewards.
• Early investors make the most of discounted tokens, staking, & can make predictions on F1 race outcomes.

Project Launched

June 2024

Purchase Methods

• 
  ETH
• 
  USDT
• 
  Debit
• 
  BNB
• +1 more

Learn More

Choc ($CHOC)

• World's first chocolate themed meme coin on Solana, viral potential
• Already showing high Twitter engagement with a 50k+ follower count early in its presale
• Giveaways running on socials and prizes earmarked for top ranked presale buyers by token holdings

Project Launched

June 2024

Purchase Methods

• 
  SOL
• 
  USDT
• 
  ETH

Learn More

StarChain (STRC)

• Pioneering crypto platform with AI-driven technology making data analysis easier and more accessible.
• Uploaded data is meticulously validated and interpreted by AI software.
• Maintains data integrity with top-notch blockchain security.

Project Launched

August 2024

Purchase Methods

• 
  BNB
• 
  ETH
• 
  USDT

Learn More

Best Penny Cryptocurrency to Buy: Our Analysis

Let’s explore the top penny cryptos that are currently trending in 2024:

1. Pepe Unchained – Overall Best Penny Crypto With Layer 2 Blockchain

Pepe Unchained is the best penny cryptocurrency as it solves one major issue on Ethereum: scalability. Ethereum can process around 15 transactions per second where all cost around $1 on average at low congestion. This can go up to hundreds of dollars when network load is high. Transcending the utility of a meme coin, Pepe Unchained has created its own Layer 2 blockchain on Ethereum.

This allows 100x the speed of Ethereum for a fraction of the cost. With instant bridging between Pepe Chain and Ethereum Mainnet, meme coin traders can use the Pepe Chain for efficient trading and bridge back to Mainnet whenever they want.

Interested investors can buy the $PEPU token at a presale. The token sells at a discount during the presale, but the price goes up every few days. Once it launches, the price won’t be the same. Over $12 million have been raised so far within a month in the presale, showing strong investor confidence.

If you buy $PEPU during the presale, you can earn over 168% staking APY. This is a dynamic APY that drops as more tokens are staked.

Check out the Pepe Unchained whitepaper for more details. Also, follow Pepe Unchained on X and join their Telegram group to stay up to date.

2. Memebet Token – Penny Crypto With Airdrop Rewards

Memebet Token is an exciting new penny crypto that is part of the Memebet Casino. This unique casino caters to the true “degens”, allowing them to wager with popular meme coins like $DOGE and $PEPE.

The $MEMEBET token is at the heart of this project, giving holders exclusive benefits like wagering bonuses and VIP rewards. Loot boxes with NFT prizes, cash prizes, and casino bonuses are also planned for the token holders.

While the presale lasts, investors who buy $MEMEBET using ETH, USDT, or a card on the Ethereum blockchain can claim their tokens and use them to wager on the Memebet Casino. The casino is planned for release sometime during the presale, giving airdrop rewards to those who bet with $MEMEBET.

The Memebet Casino will offer thousands of live games, slots, and a sportsbook with major leagues like the EPL and NBA. This alone would give meme coin holders another use case, to earn rewards and enjoy leading casino games.

Make sure to read the Memebet whitepaper for more information. Follow Memebet on X and join their Telegram group to get the latest news.

3. Crypto All-Stars – Offers an Innovative Way to Stake Meme Coins with High APY

A new penny crypto that’s making huge waves in the meme coin space is Crypto All-Stars ($STARS). It wants to bring together the best meme tokens on one platform. 

The project has developed an innovative MemeVault—a unique staking protocol that lets users stake famous meme coins like Shiba Inu, PepeCoin, and Dogecoin to earn $STARS tokens. It solves a major issue in the fragmented meme coin market by creating a rather centralized ecosystem for staking and rewards. $STARS token holders can get three times the rewards for staking other coins.

The $STARS token is currently in its presale phase, with tokens priced at just $0.0014248 at press time. Over $900,000 has been raised thus far, showing strong investor interest. 

Please note that presale buyers can start staking immediately to get high rewards before the full launch of the MemeVault platform. The platform’s press time rewards are over 1,400%, but this rate will soon decrease as more buyers join the staking pool.

The project’s roadmap includes three key phases: the current presale and staking phase, the $STARS token launch, and finally, the unlocking of the MemeVault. To stay updated on the latest developments, follow Crypto All-Stars on X (Twitter) and join their Telegram group.

4. Flockerz – Decentralized Meme Coin With Vote-to-Earn Rewards

Another penny cryptocurrency worth checking out is Flockerz ($FLOCK). This exciting new meme coin aims to become decentralized by giving the project’s governance to its token holders. As a result, $FLOCK holders can vote for key decisions like token burns and new features – and earn rewards for their efforts.

Luckily, there’s more than one way to earn rewards. During its presale, aside from a discounted token price, early investors benefit from a generous staking APY.

With over 50,000% dynamic APY up for grabs, it’s no wonder why investors are loading up on $FLOCK. Of course, the APY won’t last long. With every passing day, it will drop. This could be an excellent deal for those who stake early.

To keep the staking rewards high, the team has allocated 25% of the total token supply for staking rewards. Another 25% are allocated for voting rewards, while 20% are allocated for the presale.

This means that a total of 70% of the token supply will go into the hands of early investors and community members who believe in the project.

Make sure to follow Flockerz on X and join their Telegram group to stay up to date.

5. Shiba Shootout – Latest Dog-themed Coin, Offering Multiple Utility Ideas

Presently up for grabs in its ongoing presale for as low as $0.0196, Shiba Shootout ($SHIBASHOOT) is one of the best penny cryptocurrencies in the market right now. The project has some unique attributes that have attracted early movers to its ongoing presale event. 

Foremost, the project team embraces a transparent and community-centric business model, providing investors with an equal advantage of acquiring $SHIBASHOOT through the adoption of a fair presale. With this model, Shiba Shootout allows investors to acquire the amount of $SHIBASHOOT they desire. 

With not less than 35% of the token’s supply allocated to its ongoing presale, everyone willing to get involved in the project as early as possible have got enough opportunity.

Buying $SHIBASHOOT during its ongoing presale gives early movers the chance to net lucrative staking rewards. Also, holding the token makes you eligible for its “Lucky Lasso Lottery” program. 

For more information, users can follow Shiba Shootout on X or join its Telegram channel.

6. Sponge V2 – New Penny Crypto Merging into a V2 Utility Token 

Sponge ($SPONGE), the popular meme token, delivered enormous gains after its launch in May 2023. Now, the token is back with the upcoming launch of Sponge V2 ($SPONGEV2) – a renewed penny crypto with 1000x potential. 

Sponge V1 tokens can be withdrawn and re-staked into the newly launched V2 smart contract, which will reward holders with an equal amount of Sponge V2 tokens. Once you lock V1 tokens, the tokens will be locked permanently. However, holders can generate APYs for the next four years. 

Aside from potential high profits, a new feature of Sponge is an upcoming play-to-earn platform where the top performers can earn $SPONGEV2 tokens.

For further details and updates, check Sponge on Discord, X, and Telegram.

7. Doge2014 – Meme Coin Celebrating Dogecoin’s 10th Anniversary

Doge2014 ($DOGE2014) is an ERC-20 meme crypto to honor Dogecoin’s 10th anniversary. This penny token aims to recreate Dogecoin’s fun and spirit and offers tokens for just $0.00027, the same price Dogecoin had in 2014. This gives people a chance to feel like they’re part of Dogecoin’s early days.

In just a few days of launch, the presale is already nearing the $100K milestone. The $DOGE2014 presale offers 60% of the 100 billion tokens for a relatively low price.

The platform also has a staking mechanism that lets early buyers earn an APY of over 16,000% at the time of writing. With 93 million tokens already staked, this high return can incentivize holding $DOGE2014 for the long term.

Doge2014 has outlined its plans for growth and stability in its whitepaper. They have a four-step plan, with a big goal in the third step to get listed on major exchanges. This plan aims to build a strong community.

Buyers can follow Doge2014’s X (Twitter) handle and join its Telegram group to keep up with the most recent updates.

8. Dreamcars – Luxury Car Marketplace With Fractional NFT Ownership

Dreamcars ($DCARS) is a new crypto project that aims to bring luxury car ownership to everyone globally for as little as $10. To achieve that, Dreamcars uses car NFTs – backed by real cars – that you can buy, sell or trade fractions of it. This way, you own a fraction of a luxury car and get rental income without a hassle.

Now, the team has launched their own token, $DCARS, allowing early investors buy the token at a low price before launching on exchanges. At a price of $0.03, this could be one of the best penny crypto to invest in 2024.

All you need is a crypto wallet like MetaMask and some ETH, BNB or USDT to complete the purchase. Once you have your $DCARS, wait until the presale ends to start claiming them.

As a $DCARS token holder, you can buy the car NFTs on the Dreamcars marketplace when it goes live, and you can vote which cars to buy.

Check out the Dreamcars Telegram channel and follow Dreamcars on X for the latest updates.

9. SpacePay – Earn Revenue Share and Airdrops From Crypto Payments Infrastructure Provider

One of the best penny cryptocurrencies this year is undoubtedly SpacePay ($SPY). This is a cryptocurrency payment infrastructure project from a London-based startup that aims to bridge the gap between crypto and traditional payments. Using software compatible with existing card readers, SpacePay allows users to pay with crypto while the merchant gets fiat currency for a small fee of 0.5%.

This fee is part of the SpacePay revenue, which the company will share with $SPY token holders. Earning passive income is one of the benefits for $SPY holders. Another rewarding feature is token airdrops, for which 18% of the total token supply is set aside, per the SpacePay whitepaper.

Early investors have a chance to buy the token at a low price before it is listed on exchanges. SpacePay supports multiple blockchains, including Ethereum, Binance, Polygon, Avalanche, and Base. There’s also stablecoin support for $SPY investors.

Follow SpacePay on X and join the SpacePay Telegram channel for the latest project information.

10. Race to a Billion – New Penny Crypto Presale With Over 6,000% Staking APY

Race to a Billion ($BDJ) is a popular penny cryptocurrency that rewards early investors with a generous staking APY of over 6,000% during the presale. Keep in mind, the APY will drop as more investors stake their tokens, providing an excellent opportunity for early investors.

Once the presale ends, the project will launch a platform where users can spend $BDJ tokens to predict Formula 1 racing outcomes. Depending on the accuracy, users will earn rewards. Those who are most accurate will win end-of-season jackpots.

The entire project is built on-chain, meaning predictions and transactions are transparent and immutable, making it provably fair.

In the future, the team plans to expand to other sports to grow the community, which will likely help the token price in the long run.

Follow Race to a Billion on X and join their Telegram group to get the latest news.

11. StarChain AI – AI-powered Database Simplifying Astronomy Research

StarChain AI ($STRC) is a cutting-edge crypto project that aims to revolutionize Astronomy research. It’s building a decentralized data repository that combines blockchain and AI to bring together science data into a single, searchable platform.

This innovative method not only makes data easy to find but also simplifies the complicated process of analyzing it.

Early buyers can grab $STRC for only $0.5 each at press time. This price will keep increasing throughout the presale round and during exchange listings. 

StarChain has collected more than 500 TB of astronomical data from many different sources and has put it all under one roof that researchers and astronomy fans can use.

It’s worth noting that $STRC tokens are given to contributors who upload useful data as a reward to encourage a lively, collaborative study community.

The platform can handle billions of data points per hour and is used by experts worldwide. In addition, Certik has audited the platform’s smart contract to ensure its safety. Buyers can enter StarChain AI’s Telegram group and follow it on X (Twitter) for the most recent updates.

12. Stellar – Large-Cap Penny Crypto With a Prolonged IBM Partnership

Those in the market for a large-cap project might consider Stellar as a top contender. Stellar has its own blockchain network that doubles up as a global payment system. It is already being used by IBM and MoneyGram, plus plenty of small-to-medium businesses.

The reason for this is that the Stellar blockchain supports more than 1,500 transactions per second, with each transfer taking less than five seconds to process.

Plus, Stellar transactions cost under a cent to process, regardless of the transfer size or destination. Its proprietary crypto token, XLM, enables companies to settle transactions on-chain.

Established in 2014, XLM’s initial price of $0.0024 surged to an all-time high of nearly $0.9. Currently, however, XLM is trading at just $0.1284 – significantly below its all-time high. Nonetheless, this is still one of the best penny crypto to buy for long-term gains. After all, as more and more companies integrate the Stellar network into their payment processes, this will increase demand for XLM.

13. Dogecoin – Popular Meme Coin With a $21.8B Market Cap

Dogecoin is one of the most popular penny crypto tokens in this space, with more than 3.5 million holders. The project was one of the first to introduce the ‘meme coin’ concept back in 2013.

During this time, Dogecoin was priced at just $0.00030. With that said, it wasn’t until early 2021 that global interest in Dogecoin went viral, and it slowly became the best meme coin to buy.

Elon Musk was at the forefront of this sudden spike in interest, with the Tesla CEO tweeting about the meme coin regularly. By mid-2021, Dogecoin hit an all-time high of $0.73. This represented year-to-date gains of over 10,000%. Like many other penny cryptocurrencies, the price of Dogecoin has since declined considerably.

As of writing, Dogecoin can be purchased for $0.1523 per token. If Dogecoin can recover its former all-time high of $0.73, this would yield an upside of over 800%.

14. TRON – Decentralizing the Entertainment Industry via the Blockchain

Founded in 2017, TRON aims to revolutionize the global entertainment industry through web3 technologies. The project has its own native blockchain that supports smart contract agreements. This means that content creators can use the TRON blockchain to sell their works.

As the TRON ecosystem is decentralized, creators can set their own terms. All content sales conducted via TRON are processed in TRX.

TRON transactions are significantly faster and cheaper than Ethereum. This is why TRON is sometimes described as the ‘Ethereum Killer’.

TRX tokens are currently trading at $0.11, with a circulating supply of over 87 billion TRX and a market cap of over $10 billion.

15. Decentraland – Established Metaverse Project With Virtual Land Ownership via NFTs

Decentraland is an established metaverse project that was founded in 2015. But it wasn’t until 2020 that its metaverse was released to the public.

Decentraland allows users to socialize in the metaverse, play games, and even buy plots of land. Users can also construct virtual buildings on the land that they purchase.

MANA is the utility token of Decentraland and is required to buy land. MANA has been hit hard by the broader bear market, trading at $0.6209 as of writing.  This is far lower than its all-time high of $5.90.

16. Algorand – Near-Carbon-Negative Blockchain for a Sustainable Future

Algorand claims to be the most sustainable and green blockchain network in this industry. The platform also has its own penny crypto – ALGO, with transaction validation under four seconds.

Its network is already achieving near-carbon-negative transactions, which means it requires next to no energy to operate. In comparison, Bitcoin currently uses more energy than many countries on a national level. 

The Algorand blockchain is also efficient when it comes to fees and speed. For example, the average transaction fee is just 0.001 ALGO – regardless of how much is being sent.

Trading at just $0.242 as of writing, ALGO is the best penny cryptocurrency to buy for green investors.

17. The Graph – Indexing Protocol Servicing the Future of Web3

The Graph is a powerful decentralized protocol that provides indexing and querying for blockchain data. It efficiently organizes and retrieves data from various blockchains, enhancing the functionality of decentralized applications (dApps) across the ecosystem. 

Not only does the Graph organize blockchain data, but it makes it easily accessible. This enables the respective blockchain to operate in a faster, lower-cost, and more scalable manner.

Since GRT is the penny crypto that fuels the Graph ecosystem, it is required to access its indexing protocol, so it has real-world value.

As of writing, GRT tokens can be purchased for $0.37 each with a circulating supply of over 9 billion GRT.

18. 1inch Network – Decentralized Financial Services With 350+ Liquidity Providers

1inch Network solves a major issue in the world of decentralized trading – liquidity. The reason for this is that 1inch Network utilizes over 350 liquidity providers to ensure that traders never lose out to slippage. Moreover, the 1inch Network ecosystem supports multiple blockchain networks.

This includes Ethereum, Binance Smart Chain, Polygon, Optimism, Fantom, and others. This project has its own governance and utility token – 1INCH.

Currently, 1INCH can be purchased for just $0.53 per token.

19. Enjin Coin – Blockchain-Based Gaming Guild for Play-to-Earn Titles

Enjin Coin is one of the most popular penny cryptos when it comes to blockchain-based gaming and non-fungible tokens (NFTs). It enables third-party developers to build and deploy games on the Ethereum blockchain.

The Enjin ecosystem makes handling cryptocurrencies easy and safe with its Enjin Wallet, while the Enjin Marketplace is a great spot for trading NFTs.

Game developers can use the Enjin Platform to integrate blockchain features into games, which can further optimize the gaming experience.

Moreover, all games hosted by Enjin Coin enable players to earn ENJ, the native token backing the project. ENJ has had a good start to 2023, generating year-to-date gains of 75%. But at $0.49 this is still a small fraction of its all-time high of $4.85.

What are Penny Cryptocurrencies?

There is no standard universal definition of penny cryptocurrencies. With that said, the term is generally used to describe the best cryptocurrencies with a value of under $1. This means that penny cryptocurrencies are ideal for investors that wish to buy a larger number of tokens without breaking the bank.

Many penny cryptocurrencies are small-cap tokens that have the potential to generate sizable long-term gains. This requires investors to enter the market early and be prepared to hold for several years.

This buy-and-hold strategy is often the most effective way to approach penny cryptocurrencies. For example, when MANA was launched in 2017, it was trading at just $0.025. When MANA hit an all-time high of $5.14 four years later, this translated into gains of over 20,000%.

Potential Benefits of Trading Penny Crypto 

The most common and noteworthy benefit of penny crypto is simply that it can offer the opportunity for explosive growth as compared to the more established cryptocurrencies. For instance, Doge went from $0.01 to $0.6 between November 2020 to May 2021. A $100 investment would have turned into $6,000. 

But it’s not simply a lower price of entry – that can be found on early stage tokens. 

Penny cryptos, especially meme penny tokens, often have very motivated followers who are passionate about the ecosystem. These serve to increase the price of the token and can act as a form of secondary marketing, posting on sites like Reddit and Tweeting about the benefits of the coin.   

The following are the three primary benefits of trading penny crypto to take into consideration. 

Potential for Explosive Returns

One of the best reasons to invest in penny crypto is the potential for high returns. Cryptocurrency as an asset class is known for its impressive ROI. Penny crypto compounds this effect significantly because it typically represents increased growth potential. A lot of coins that trade at around $1.5 – $20 now (SOL, AXS, CAKE) were once penny crypto, that went on to skyrocket past the $1 mark. 

Established non-penny cryptocurrencies that have already reached their peak are unlikely to do so again. Binance (BNB), a non-penny crypto, gained 1,300% in 2021. Currently priced at $250, it would have to go up by 13x to meet its previous all time high. In contrast, penny crypto that is just emerging still has the potential to reach these new highs, as opposed to non penny crypto. 

Moreover, they can reach these highs in a much shorter time frame. Pepe shot up 1,000% in just two days, something that is far less likely to happen with Bitcoin, Ethereum, Binance Coin, or any of the other major coins nowadays. While this obviously does not happen with all penny crypto and there are inherent risks, it does offer a shorter road to profitability as compared with more established cryptocurrency. 

Potentially Lower Investment Costs

Though this does not apply to all penny crypto, many of them are currently in the presale stage or in the early stages of growth. Early stage cryptocurrencies often trade for less than their more established counterparts. If you can buy a coin for 20% of the price at an early stage, it could result in vastly increased profits over a longer period of time. 

Solana (SOL) was available for $0.22 in public auction in March 2020. It is currently priced at $18, and is no longer a penny crypto. You would be paying 80 times more to enter today as opposed to in 2020. 

With Polkadot (DOT), the average price in the private sale funding round was $0.288, in 2017. In 2020, the average price for the private sale funding round was $1.2. It currently trades at around $5. The difference between the 2017 early bird price and the current price is nearly 2,500%. Consider that the price of Ethereum (ETH) during its ICO was a mere $0.30. Now the price hovers at $1,800 – a 6,000x multiplier. 

So it pays to get in early when the price is low, provided the penny crypto is high quality. You can find these low cost presale/early stage investments by utilizing free tools (outlined in more detail below), staying in touch with crypto media outlets, and joining high quality discord groups. 

Hype and Celebrity Appeal

Penny cryptocurrency often has large followings on social media and benefits from a strong community. This can have a powerful impact on the ROI. Shiba Inu gained 40,000,000% in 2021 – a large part of this was due to a Change.org petition urging Robinhood to list the token. The petition was pushed forward by a multitude of loyal followers. 

The r/Shibarmy Reddit page has 480,000 members and is in the top 1% by size. Early on in the tokens development, the anonymous founder “Ryoshi” gave 50% of the coin supply to Vitalik Buterin of Ethereum, who donated it to a Covid-19 relief campaign in India. This was a gigantic sum worth $1 billion at the time. These kinds of activities generate enormous social appeal. 

Elon Musk is also known to regularly increase or decrease the price of the DOGE penny crypto, even claiming that he was the “CEO of Dogecoin”. His Tweets have been shown to increase the price of DOGE by 100%. The Dogecoin Reddit has over 2.4 million subscribers, and, just like Shiba Inu, has a passionate following. 

Lacking any real fundamentals, these coins are driven purely by their communities and celebrity endorsement. But it works very well – Dogecoin is currently the 8th biggest cryptocurrency by market capitalization, ahead of Solana, Litecoin, Tron, Polkadot, and Polygon. 

How to Find the Best Penny Cryptos 

With the number of penny cryptos on the market, it can be difficult to pick out the very best ones that have a chance of reaching their full price potential. You’ll have to take a number of different factors into account to pick the ones that stand out – a coin might look good from one or two angles but there could be other information that renders it a bad buy. 

So use a combination of the following tools to pick out the best ones on the market. 

DEXTools

We are slowly seeing a migration away from centralized exchanges towards decentralized exchanges (though centralized exchanges like Binance and Coinbase remain in very strong positions, in terms of overall trading volume). With the influx of decentralized technology, there has also been a rise in the number of decentralized tools to spot new trading insights. 

One such tool with a great many features is DEXTools. This free tool allows traders to analyze pairs on a variety of decentralized exchanges, swap tokens (provided the Web3 wallet is connected), view the daily losers/winners, and look at statistics on major decentralized exchanges.

Pairs are assigned an overall DEXT score based on five criteria – pool, creation, holders, transactions, and information. Right now, BTC/ETC has a DEXTscore of 98. The platform has its own educational channel on Youtube and is continually listing new pairs. This tool can be used to identify penny crypto that is starting to show signs of positive momentum before a breakout. 

Discussion Groups

Joining discussion groups is another method to gain access to penny crypto before it hits the all time high (ATH). Telegram and Discord are probably the best places to join groups that are designed specifically for trading penny crypto. One of the top resources is Jacob Bury’s Crypto Clan, currently with over 14,000 subscribers. 

On this discord server, educational content is generated regarding the best exchanges to trade and the principles of smart investment, and giveaways are offered frequently. This group is particularly useful when it comes to presale information and penny cryptos, breaking down the coin prices at each stage and even giving estimated ROIs for tokens. 

The ICO Analytics Telegram group, meanwhile, has over 70,000 subscribers and a five-year history. It points out reputable upcoming ICOs and further breaks down analytics on new tokens. Crypto Signals is a useful Telegram resource for finding penny crypto to invest in, enabling investors to copy-trade the positions of professional traders and witness the rationale behind certain positions. Another great Telegram group for crypto investment is Learn2Trade, which also caters to the Forex trading market.  

Reddit is another great resource when it comes to finding the best penny crypto. Useful groups include r/ICO (for upcoming coin offerings) and r/CryptoCurrencyTrading (for advanced trading strategies). 

Reddit is an excellent resource for penny cryptos. In fact, it is one of the main repositories for some of the highest performing penny cryptos of all time – Dogecoin and Shiba inu. These penny cryptos are driven mainly by Reddit support, where the tokens are discussed and community initiatives are put forward.

Due to the supportive, interactive, and conversational nature of Reddit, it’s easy to post a question about the project and receive an answer, as opposed to reading a whitepaper from an official webpage and deciding what to do on your own. You can become part of the community and see how the penny crypto has developed with time, as well as receiving the latest updates.  

Crypto Media

Cryptocurrency media outlets such as Coindesk are excellent resources for finding out about the latest news in terms of regulation, fundraising, partnerships, network upgrades, and more. Bookmark some top media publications to stay on top of the latest news regarding penny crypto prices. While this is not quite as powerful as getting the information before it becomes publicly available, it’s still important to stay in touch with the wider markets. 

This is due to the fact that an individual project might be doing extremely well, but other factors could send the market tanking. For instance, the SEC lawsuit against Coinbase and Binance led to price and volume declines across the board. MATIC (-27%), SOL (-29%), ADA (-25%), and BNB (-23%) all declined due to the event. 

Macroeconomic events like the Federal Reserve pausing interest rates (5.0% – 5.25%) after 15 months of hikes will play a role. This is obviously going to have a knock on effect in terms of investors purchasing penny crypto. So bookmark both crypto media and traditional media to stay abreast of as many impactful items as possible. 

YouTube

YouTube is a particularly good resource for three main reasons. The first is because it allows users to learn in a more dynamic manner than reading static text (and there is a lot to learn about how penny crypto behaves). The second is that you can often gain access to key information that is either not available elsewhere, or others have simply not paid attention to. The third is that Youtube happens to be the second largest social media platform in the world, second only to Facebook, according to Search Engine Journal. 

Michael Wrubel’s YouTube channel, for example, has over 300,000 subscribers and 1,800 videos, specializing in undervalued cryptos that have the potential to skyrocket. BitBoy Crypto is another excellent resource, with over 1. 5 million subscribers. This channel is interesting because it often features guest speakers for debate and additional perspectives. Along with a Discord group, Jacob Bury also has a Youtube Channel with key information relating to presales and penny crypto. 

If you want to spot upcoming penny crypto before the crowd, it is definitely worth checking out some of the top YouTube channels, where the experts have dedicated their time to deep coin analysis. 

How are Penny Crypto Prices Determined? 

Penny cryptocurrencies follow the same pricing framework as any other digital asset. Put simply, pricing is determined by market forces. When buying pressure increases, so will the price of the penny cryptocurrency. Conversely, too much selling pressure will negatively impact the price of a cryptocurrency. But a multitude of factors affects this buying and selling pressure. These factors include celebrity endorsements, regulation, and whale movements. 

Celebrity Tweets and Activities

Penny crypto prices can be heavily influenced based on celebrity actions. This had already been demonstrated through moves from Elon Musk (Doge) and Vitalik Buterin (Shiba Inu). Many penny cryptocurrencies that go on to generate huge returns do so simply because of marketing and mass appeal.

Tweets from antivirus specialist John McAffee had the power to move the price of Verge (XVG) in 2017. Just 4 days after his initial Tweet, the price of the token would move up 500%. Low volume penny cryptos are hugely affected by celebrity figures. 

Regulation

Regulation affects the entire crypto market. Practically all cryptocurrencies, including penny crypto, are correlated to Bitcoin. A crackdown on exchanges will severely affect trade volume, and can adversely affect the price of all penny cryptos that trade on centralized exchanges. The SEC lawsuit against Coinbase/Binance led to price declines and a reduction in trade volume. 

And this happens across the board, so it does not matter if it is a high priced crypto or a low priced crypto. It also does not matter if it is a high volume or low volume cryptocurrency. Regulatory concerns affect the entire market, and it largely moves in unison. 

Other major events like the FTX collapse will have implications across the board, sending the entire market reeling. This happened in late 2022, and the overall market took a hit, including penny crypto. 

Whale Positions

A whale is a trader that has a disproportionate amount of influence relative to the overall market capitalization of a crypto. If you have $5 million and the market capitalization of a cryptocurrency is $50 million, you would be classified as a whale. 

In May 2023, crypto whales started to buy the PEPE token after the price dropped. One wallet purchased $2.7 million in PEPE. The token had a $420 million trading volume in a 24 hour period. This demonstrates that aside from just retail investors, there are many large investors focused on the meme token. The purchases took place amidst a 50% price decrease.  

Just like higher priced crypto, whales exert a significant influence on the price of a token. If anything, they have even more of a powerful effect when it comes to penny crypto, because a penny crypto might have a lower market capitalization than an established crypto. A low volume cryptocurrency is more heavily affected by large buy or sell orders, which whales can execute. 

Many traders focus exclusively on what whales are doing, because they have such power over prices. You can track whales across blockchains by using ClankApp or a similar tool. 

Disadvantages and Risks of Trading Penny Crypto

While there is incredible potential for price gains when trading penny crypto, it does come with some risks that need to be stated. When you learn about the disadvantages, you can avoid them in advance. 

The following are some of the pros and cons of penny crypto investment. 

Volatility

The first major risk is that penny cryptos can be extremely volatile. This applies to the entire crypto market but especially applies to low-volume penny crypto. Volume is a strong indicator of volatility and the lower the volume, the more the volatility, generally speaking.  

It is unlikely that all your investments are going to proceed forward in a straight line without any dips, so only invest if you can survive for the long term. If you are investing early, there might also be a lockup period where you can’t sell for a specified period, such as 12 months or 24 months. New penny cryptos might not be easy to exchange due to a lack of liquidity. 

Lack of Historical Information

If there is a lack of historical trading data, traders are pretty much operating in the dark. With established cryptocurrencies, there is a lot of information from various blockchain scanners, such as dAppradar or Etherscan. It’s easy to find information on the market capitalization, token supply, and trading information. With a new penny crypto, this might not be the case, as no trends and patterns have been established. 

So with a low volume penny crypto you are typically taking on more risk because no information is available. You might not even have access to key information like who the founders are and what the roadmap is. This is a serious detriment to any investment. 

Hacks and Scams

Penny cryptos are very susceptible to many kinds of scams, most notably rug pulls. A rug pull is when a core development team creates a crypto and then runs off with investor money after a fundraising round, such as an ICO.

Many of the ICOs that took place in 2017 had no working product and no significant number of active users. Yet investors poured billions into such products, and later it was revealed that almost 80% of them were fraudulent. 

There is a long list of tokens that did not make it – so do your research and ensure you avoid failed projects.  

How to Buy Penny Cryptocurrencies 

To buy penny cryptocurrencies with potential, investors first need to assess whether or not the tokens are currently trading on exchanges. They can also trade on decentralized exchanges where accessible, but these tokens may have slightly more risk. 

Presales like Bitcoin Minetrix ($BTCMTX), and Dogecoin20 ($DOGE20) are all currently engaged in a presale campaign. You can purchase direct from their pages before further price increases takes place. Aside from new presales, you can also access traditional penny crypto like DOGE and SHIB, as well as trending coins like Pepe 2.0. 

To buy penny crypto during presales, you’ll need to have a compatible wallet. Metamask.io will allow you to interact with Web3, and it is simple to set up. You will need to have some crypto to trade in the first place – ETH, BNB, USDT, and other options will likely be available for purchase. Of course, you can also purchase penny crypto that trades on exchanges, potentially receiving the token into your exchange account. 

How to Choose Penny Crypto Tokens for a Portfolio: Summary

Here’s a quick recap of how to find a top penny crypto for 2024:

• Presales: We mentioned above that presales are home to some of the best penny crypto to invest in. Early presale investors get the most favorable entry price and there is often an immediate upside available.
• Focus on Innovation: The most successful crypto investors are those that focus on the underlying product or service being developed.
• Stick With Low-Cap Gems:  Penny cryptocurrencies with a low market capitalization offer the most attractive upside. Conversely, the risks are also higher. To counter the risk of loss, consider diversifying across multiple low-cost projects at equal investment sums.
• Consider Cryptocurrency Penny Stocks: For an even greater level of diversification, consider penny cryptocurrency stocks. These are likely to be micro-cap companies that trade on the OTC markets. When exploring the best crypto penny stocks to buy, be sure to keep stakes sensible.

Conclusion

In our guide on the best penny cryptocurrency to invest in 2024, we’ve looked at the top choices, what makes them stand out, as well as the inherent risks that come with each.

Although the potential for significant returns is alluring, it’s crucial to remember the unpredictable nature of the crypto market. Therefore, always do your own diligent research so that you have a good understanding of what you’re investing in.

Overall, Pepe Unchained is the top penny cryptocurrency. Currently, $PEPU is priced at just $0.0083591 per token during the ongoing presale stage.

References

• https://coinmarketcap.com/alexandria/article/top-10-highest-gainers-which-coins-have-gained-the-most
• https://hbr.org/2017/01/how-customers-perceive-a-price-is-as-important-as-the-price-itself
• https://www.coindesk.com/learn/what-is-tokenomics-and-why-is-it-important/
• https://finance.yahoo.com/news/amid-pepe-coin-driven-memecoin-173452753.html
• https://www.youtube.com/c/DEXToolsAcademy
• https://coincodex.com/ico/ethereum/
• https://www.dextools.io/app/en/fantom/pairs
• https://247wallst.com/investing/2023/06/12/altcoins-lost-35b-in-market-cap-after-secs-coinbase-lawsuit/
• https://www.searchenginejournal.com/social-media/biggest-social-media-sites/#close
• https://investorplace.com/2022/03/axs-crypto-dips-on-news-of-a-ronin-hack-worth-over-600m/
• https://metamask.io/
• https://research.bloomberg.com/pub/res/d28giW28tf6G7T_Wr77aU0gDgFQ
• https://www.blockchain-council.org/blockchain/a-comprehensive-guide-on-ico-scams-and-how-to-identify-them/
• https://www.statista.com/chart/27577/cryptocurrency-volatility-dmo/
• https://www.reuters.com/legal/us-sec-sues-coinbase-over-failure-register-2023-06-06/
• https://cryptosignals.org/cryptocurrency/bitcoin-btc-usd-market-has-peaked-at-31500-gearing-up-for-a-fall/
• https://www.coindesk.com/learn/the-crypto-fear-and-greed-index-explained/
• https://www.reddit.com/r/ico/
• https://www.reddit.com/r/CryptoCurrencyTrading/
• https://tgstat.com/channel/@ico_analytic/stat
• https://www.youtube.com/channel/UClWUQqWTL6xSK2Bx1bRlKPw
• https://www.youtube.com/channel/UCjemQfjaXAzA-95RKoy9n_g
• https://buybitcoinworldwide.com/price/
• https://www.coindesk.com/markets/2023/05/05/pepecoins-bewildering-rise-turned-a-pittance-into-an-almost-5000000-meme-coin-profit/
• https://coinmarketcap.com/currencies/dogecoin/
• https://www.coingecko.com/en/coins/polkadot/tokenomics
• https://www.bloomberg.com/news/articles/2021-10-24/shiba-inu-jumps-50-to-record-becoming-11th-biggest-crypto-coin#xj4y7vzkg
• https://edition.cnn.com/2021/05/13/business/ethereum-shiba-inu-india-covid-donation/index.html
• https://edition.cnn.com/2021/04/16/investing/dogecoin-price-elon-musk-int-hk/index.html
• https://twitter.com/elonmusk/status/1636924379086077954
• https://www.wired.com/story/john-mcafee-indicted-altcoin-pump-and-dumps-ico-schemes/
• https://www.nbcnews.com/business/business-news/cryptocurrency-2023-predictions-bitcoin-ftx-collapse-sam-bankman-fried-rcna61548
• https://clankapp.com/
• https://etherscan.io/
• https://www.blockchain-council.org/blockchain/a-comprehensive-guide-on-ico-scams-and-how-to-identify-them/
• https://fortune.com/crypto/2023/04/03/elon-musk-twitter-dogecoin-memecoin/
• https://www.coindesk.com/markets/2023/05/10/crypto-whales-accumulate-millions-in-pepecoin-as-trading-volume-shifts-to-binance/

FAQs