Investors are on the lookout for cryptocurrencies that might see a price increase during the remainder of the calendar year. While consolidated assets like Bitcoin and Ethereum will hardly see significant shifts, projects like Shiba Inu, Bitnance, and Dogecoin are among those who might perform better than the average in 2024’s final quarter.
After seeing a bullish peak in March, digital currencies have mostly been stagnant or even losing their value for the last 5 months. This movement ultimately drives investors to seek higher risks and higher returns, and the possibilities for picking a winning token to recover losses are plenty this year.
Shiba Inu on The Rise?
Well-known memecoin ‘Shiba Inu’ has had a less than stellar performance since its yearly peak of $0.00003592 on March 3rd. However, the ambitious project native of the Ethereum Blockchain is still pulling a profit – up 74% over the past 365 days.
In fact, $SHIB is having its most profitable season in over 3 years. Now heading to the end of 2024 the introduction of a new Decentralized Autonomous Organization (DAO) to the ecosystem could fuel the token to end the year on a high note.
On Monday, LucieSHIB, the marketing lead for Shiba Inu, revealed significant details about the upcoming DAO launch. The DAO will enable $SHIB token holders to participate in network governance, allowing them to influence the project’s future direction. LucieSHIB emphasized that while larger investors (whales) may hold considerable sway, the collective power of smaller holders could counterbalance this influence.
This system aims to ensure fair play, giving all holders, regardless of their stake size, a voice in the project’s governance. Additionally, LucieSHIB mentioned that investors may need to keep their assets on-chain to engage with the new DAO.
Investors are hopeful that the new DAO could lead $SHIB to end the year close to its yearly ATH of $0.000035. Currently valued at $0.00001368, this potential price shift would grow investments by 60%.
Dogecoin
Shiba Inu’s main competitor on the memecoin market, Dogecoin is also a project that could see a positive price shift by the end of 2024.
Currently valued at $0.09983 – the world’s first meme token has been struggling to get out of “Doge limbo” since its March 175% increase. Since then, however, the currency has had difficulties in performing better than the competition.
While the total cryptocurrency market capitalization gained around 160% in the year, Dogecoin’s 50% increase sparks concerns. When compared to Bitcoin, Ethereum, and Shiba Inu – $DOGE performed worse than all these currencies as well.
But that’s not to say the dog days are not coming back. The currency’s biggest endorser – Elon Musk – just hinted at the possibility of using $DOGE as a payment option for his company Starlink.
During his recent legal dispute with Brazilian Supreme Court Justice Alexandre de Moraes, Musk complained on X about the judge forbidding Brazilians from accessing the platform and freezing Starlink’s bank accounts in retaliation against him.
As Musk ranted about it on the social media platform, the multibillionaire hinted at the possibility of using Dogecoin as a payment option to circumvent the Brazilian sanctions. This possibility alone would add a ton of utility to $DOGE which could drive a significant pump by the end of 2024.
This subtle hint was enough to drive a 5% increase in the span of just a few hours on September 2nd. If the billionaire opts to go through with the Doge/Starlink collab – the possibility of the memecoin reaching June $0.16 (a 60% increase from today) is not insignificant.
Bitnance
Still in its presale phase, Bitnance is quickly gaining attention as a project with substantial growth potential. Unlike established assets, BTN is emerging as a 100% decentralized store of value native to the Binance Chain. With a total supply of just 10.5 million tokens, Bitnance is twice as scarce as Bitcoin and over 2,300 times scarcer than Kaspa. This extreme scarcity is expected to drive its growth, especially after it lists on public crypto exchanges December 5th.
As BTN becomes available to the 160 million Binance Smart Chain (BSC) users worldwide, demand in the presale is surging & a continuation of this through CEX listing could be the catalyst to significant value appreciation.
The $BTN token is currently priced at $0.35 and is projected to hit $0.45 during the ICO, offering early buyers a 28% gain on their investment. But the real growth potential lies in the days following the coin’s debut.
Bitnance’s utility goes beyond just scarcity. It also offers a cost-effective solution for investors looking for a reliable, deflationary store of value. Typically, traders move their assets to Bitcoin, incurring hefty cross-chain fees. With Bitnance, these fees could drop from $32 to just $2 per transaction, making it an attractive option for those already using Binance as their entry point into the market.
If demand meets expectations, it wouldn’t take much for BTN to reach $2.00—a 471% increase—by the end of the year. Given its scarcity and utility, Bitnance could be one of the most promising investments as we head into 2024.