The cryptocurrency market seems to be undergoing another correction. Bitcoin (BTC) has fallen 4.6% in the last 24 hours and is currently trading at around $66,500. The global crypto market cap, meanwhile, has dipped by 3.1% in the previous 24 hours, currently at $2.5 trillion.
BTC recently climbed to almost $70,000, fuelled by a bullish speech by Donald Trump at the 2024 Bitcoin conference. BTC’s price took a tumble yesterday after the US government moved nearly 30,000 BTC worth $2.02 billion to an unknown address. Investors may have been spooked by fears of a sell-off.
With that said, let’s take a look at the…
Top 3 cryptocurrencies you could watch that are under $0.50
Cardano (ADA):
ADA is following BTC’s downward trend, dipping 5% in the daily charts and 4.9% in the weekly. The low prices could offer an opportunity for investors to stack up on their ADA holdings.
Cardano will soon undergo the Chang Hard Fork upgrade. The upgrade is anticipated to increase community participation, which in turn can have a significant impact on its price. The fork is reportedly only 33% complete.
Shiba Inu (SHIB):
SHIB is an incredibly popular cryptocurrency that could witness a surge in the next bull market. The asset has struggled to gain momentum since the 2021 bull run when it hit an all-time high of $0.00008616.
Also Read: Top 3 Cryptocurrencies You Could Watch In August 2024
The SHIB team is also reportedly working on a new burn mechanism, rumored to destroy trillions of tokens yearly. The burn mechanism could lead to a significant dip in supply and, consequently, a price spike.
Bonk (BONK):
BONK is another memecoin that has witnessed significant growth over the past several months. The Solana-based cryptocurrency is down 6.7% in the daily charts and 4.1% in the weekly charts.
Also Read: Cryptocurrency: Top 3 Meme Coins Under $2 To Hold Before It’s Too Late
The low prices could be a good entry point for new investors. BONK and other memecoins, such as PEPE, WIF, etc., have outperformed investor favorites such as SHIB and DOGE this year.