7 Penny Cryptocurrencies Traders Think Could Pump This Year

The post 7 Penny Cryptocurrencies Traders Think Could Pump This Year appeared first on Coinpedia Fintech News

With altcoin season expected to return in early 2024, crypto traders are eagerly searching for the next obscure tokens that could experience massive breakouts.

This article discusses seven penny cryptocurrencies with solid fundamentals and growing communities that could help them pump in the year ahead.

1. Sponge V2 (SPONGEV2)

Next up is Sponge V2 (SPONGEV2), the upcoming gaming token from the creators of Sponge (SPONGE).

SPONGE was one of the meme coin stars of 2023, producing enormous returns for those who invested right after its listing on Uniswap.

SPONGE’s creators are now looking to offer an enhanced version of the token, complete with play-to-earn gaming integration and a Stake-to-Bridge protocol.

By staking SPONGE, investors can earn SPONGEV2 as yield – with return rates currently at 381% per year.

The developers plan to list SPONGEV2 on exchanges later this year, which many early backers believe could be the catalyst for a considerable price pump.

With newfound utility, an engaged community, and a track record of success, SPONGEV2 looks to be another penny crypto with high growth prospects.

Investors can buy and stake SPONGE using the widget on the sponge.vip website ahead of SPONGEV2’s market debut.

2. Bitcoin Minetrix (BTCMTX)

Another penny cryptocurrency that traders think could pump this year is Bitcoin Minetrix (BTCMTX).

Bitcoin Minetrix offers a unique Stake-to-Mine feature whereby crypto enthusiasts can stake the native BTCMTX token to earn cloud mining power.

This cloud mining power can be deployed to mine Bitcoin virtually – allowing investors to generate regular BTC block rewards without needing expensive computing equipment.

On top of that, Bitcoin Minetrix also has a staking protocol for BTCMTX, with stakers generating yields of 83% per year.

These two earning protocols combined have attracted a growing community of supporters who see Bitcoin Minetrix as a promising way to generate crypto income.

Early investors can buy BTCMTX tokens through the ongoing presale, which has raised more than $7.8 million so far.

3. Meme Kombat (MK)

Meme Kombat (MK) is a gaming meme coin hosted on Ethereum and is currently on presale.

The project’s presale has raised a staggering $6.3 million in funding so far, making it one of the year’s most highly-anticipated meme coin launches.

Meme Kombat’s main feature is its virtual battle arena, where users can wager MK on the outcomes of hilarious fights between meme coin characters.

The winner of each bet will earn more MK tokens – which can then be staked to generate additional passive income.

Meme Kombat’s features and branding have helped it attract colossal attention from retail investors, with almost 11,000 people now participating in the project’s Telegram community.

Prospective investors have limited time to buy MK tokens through the presale at a discount before their open market debut in the coming weeks.

4. Inspect (INSP)

The first under-the-radar token that could explode in 2024 is Inspect (INSP), a platform that provides users with data on cryptos, NFTs, and DeFi projects.

With advanced data tools to inform trading and a staking system offering healthy yields, Inspect helps crypto users maximize their returns.

Currently priced at just $0.188, INSP has a small market cap of $30.3 million, meaning it has enormous room to multiply.

As the platform rolls out new features like on-chain tracking and an NFT valuation engine, demand for the native INSP token could rocket.

As such, this is one low-cap crypto that investors may wish to watch closely in 2024.

5. Kaspa (KAS)

Kaspa (KAS) is an open-source blockchain that aims to provide fast and scalable transactions.

The network uses a unique BlockDAG architecture, making it suitable for various applications, from payments to DeFi.

Priced at just $0.102, this penny crypto has a capped supply of 28.7 billion tokens and ambitious plans to expand in the year ahead.

As developers continue to build on Kaspa, demand for KAS looks set to rise even more.

Moreover, with KAS now listed on several top-tier exchanges, 2024 could be a breakout year for the token.  

6. Gala (GALA)

Gala (GALA) is another penny crypto that could surge this year, used as the utility coin for the gaming ecosystem Gala Games.

Currently boasting a market cap of just $650 million, Gala allows players to truly own their in-game assets as NFTs while earning crypto rewards.

With over 1.3 million monthly active users across a growing library of games, demand for GALA is steadily building.

As Gala Games rolls out new titles and features, this low-cap crypto could draw more attention from speculative investors worldwide.

Thus, for traders seeking discounted tokens with real utility, GALA checks all the boxes as an exciting penny cryptocurrency to watch.

7. Hedera (HBAR)

Concluding our list of penny cryptocurrencies that could pump this year is Hedera (HBAR).

HBAR is the native token of the super-fast enterprise-grade network Hedera Hashgraph.

Hedera Hashgraph boasts advanced distributed ledger technology capable of lightning-quick transactions and enormous scalability.

As major companies like Google and IBM build next-gen applications on Hedera, demand for HBAR could rise in tandem.

With fixed tokenomics and a market cap of $2.5 billion, Hedera is another low-priced token that could experience a pump in 2024.