Cryptos under a dollar forgotten by the market
MAGA, STRUMP, HORRIS, BODEN. Apart from the political differences that Trump, Biden and Harris may share, these cryptos worth less than a dollar share one thing in common: their price has, at one point in the year, exploded thanks to political news. However, these memecoins politiFias they are called in crypto jargon, no longer seem to excite investors, even after Trump’s electoral victory.
As proof, since the victory of the Republican candidate, the value of several of these cryptos at less than a dollar has continued to plummet on the market. SOCKS lost 35% of its value, and HORRIS suffered an even more tragic fate with a drop of 57% month-on-month. If BODEN (+5,6 %) et MAGA (+17%) showed some resistance, they remain far from the performances displayed by the rest of the market.
THE memecoins politiFi are not the only cryptos under a dollar that seem to have been forgotten. Projects related to the metaverse, such as GALA et MANAare also expected around the corner. For almost two years, they have struggled to repeat their spectacular performances at the end of 2021 and the beginning of 2022. And despite a slight awakening since November 6, investors are still hoping for the long-awaited big explosion.
Next to the memecoins and metaverse projects, there are also DeFi tokens for less than a dollar for which expectations remain very high: Wormhole (W), The Graph (GRT) et Anchor (ANKR). These projects continue to attract attention, although some, like Wormholeare struggling to erase the traces left by events like its hack in 2022.
A recovery within reach?
Contrary to BODEN or HORRIScryptos for less than a dollar like MAGA et SOCKS can continue to surf the context of political news in the United States, their movement in the market being closely linked to Trump’s statements. Moreover, it would be wise not to lose sight of them in the days preceding the Republican’s inauguration ceremony at the White House on January 20.
On the metaverse side, cryptos in the sector should also attract the attention of investors as thealt-season. We have already observed a timid awakening of certain tokens like SAND et AXSwhich suggests that MANA et GALA could be the next to take off. As for Wormholehis chances of returning to the top are diminished by the after-effects of his 2022 hack, but his DeFi friend, The Graph (GRT)has a certain potential to explode on the market.
Apart from MAGA, SOCKS, MANA, GALA et GRTother cryptos for less than a dollar like away et FTTcould also recover. Despite their status as failing projects, these two tokens have already proven their ability to bounce back, whether through a protocol update Luna 2.0 or announcements related to FTX redemptions.
Moral of the story: Cryptos for less than a dollar are like an old, outdated smartphone, all it takes is an update for it to shine again!
Disclaimer
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