Which Cryptos Will Take Off in 2024? 7 Promising Altcoins to Watch

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15 Min Read

The crypto market is always searching for the next big thing – those hidden gem altcoins that can deliver 10x or even 100x returns. In this article, we highlight 7 undervalued altcoins that have strong fundamentals and utility to potentially explode in 2024.

Our research team selected these cryptocurrencies based on their impressive technology, fundamentals, growth potential, and favorable technical analysis that points to significant upside this year.

Sponge V2 ($SPONGEV2) – The Next Major Meme Coin Revival

The original Sponge token saw meteoric growth in 2023, skyrocketing from a $1 million market cap to over $100 million at its peak. Now, Sponge V2 ($SPONGEV2) looks primed to follow a similar trajectory and become the next major meme coin revival in 2024.

There is clear ongoing enthusiasm for the SpongeBob-themed token, with over $4.3 million worth of assets staked in the V2 contract already. SPONGE is not hosting a typical presale – instead, users must stake the V1 version to earn the new V2 token. This unique staking system helps cement the transition to V2 while rewarding loyal community members.

Those looking to get in on the ground floor of the Sponge V2 relaunch have two simple options. The first way is to purchase Sponge V1 tokens directly through the Sponge.vip website’s buy widget. The newly acquired V1 tokens can then be instantly staked with just a few clicks, securing the holder an equivalent amount of the upcoming V2 token. 

The second method is to take any existing V1 holdings and manually stake them through the staking portal on the Sponge.vip platform. Either route efficiently stakes Sponge V1 to start generating returns in anticipation of the lucrative Sponge V2 release. The more V1 tokens staked, the greater the V2 rewards.

Beyond this, the Sponge team is building an entire play-to-earn racing metaverse. Players can purchase credits to access paid gameplay and earn additional SPONGE based on race performance. There will also be a free version to attract new players.

With meme coin mania still running hot and innovative features on the horizon, SPONGEV2 has all the ingredients to deliver the first 100x return of 2024. Now might is the time to get in position by staking SPONGEV1 at Sponge.vip before the next parabolic run.

Buy and Stake $SPONGEV2 Now

Bitcoin Minetrix ($BTCMTX) – Innovative Bitcoin Mining

Bitcoin Minetrix has built a reputation as an efficient, user-friendly tokenized cloud mining platform with a focus on security and transparency. Leveraging compatible wallets like MetaMask, users can easily acquire and stake BTCMTX tokens to participate in the ecosystem.

Cloud mining has often been associated with fraud, but Bitcoin Minetrix allows users to earn real Bitcoin mining rewards just by staking tokens. This innovative protocol opens up Bitcoin mining to a much wider audience beyond those running expensive mining rigs.

Here’s how it works – BTCMTX stakers generate “mining credits” granting them access to cloud mining power. This enables token holders to passively earn BTC without having to personally operate any equipment. Through cloud mining, anyone can get exposure to Bitcoin mining rewards.

In addition to BTC mining proceeds, BTCMTX provides staking yields up to 111% APY. Stakers can earn attractive crypto income through both Bitcoin mining as well as staking rewards.

Bitcoin Minetrix is currently midway through a heavily oversubscribed presale raising almost $9 million so far. With presale fundraising still ongoing toward a $15 million soft cap, Bitcoin Minetrix remains in early stages – giving prospective investors plenty of time to get in on the ground level before the platform goes live later this year.

With exchange listings and expanded mining infrastructure on the 2024 roadmap, BTCMTX offers strong utility and earnings potential as the project continues rapid growth.

Buy $BTCMTX Now

Meme Kombat ($MK) – The Best Meme Coin to Buy Now

The presale for Meme Kombat has raised over $6.9 million so far, prompting predictions of 10x returns post-launch. Traders can still buy the $MK token for $0.279 ahead of a $10 million hard cap.

This platform uniquely fuses active crypto betting with passive staking to offer multiple ways for users to earn, appealing especially to gamers. The meme-based concept adds viral potential.

Gameplay centers around Player vs Player battles, Player vs Game battles involving odds and probabilities, and In-Play waging where users bet on real-time match events. As the roster of 11 meme fighter characters expands, the battles will become more diverse.

Beyond gaming utility, $MK has notable tokenomics. As users gamble using $MK, platform activity directly drives token demand. A staking system also incentivizes holding by enabling investors to compound returns. Over 29 million $MK have already been staked, earning 5.7 million in rewards so far.

Token allocation is 50% to presale, 10% liquidity, 30% staking/rewards, and 10% community initiatives. This focus on community rewards will amplify organic growth and brand awareness.

While bringing modern innovations, Meme Kombat retains the viral meme coin appeal that can spark the next major breakout. $MK offers strong utility and earning potential as both a gaming platform and digital asset.

Buy $MK Now

Chainlink price remains in an uptrend after bouncing from support at $11.80. LINK currently trades around $15.90, with bullish momentum signals suggesting a retest of $17.00 resistance next.

After the recent bounce, momentum indicators reflect building bullish conditions. The MACD histogram shows increasing upside traction that could propel Chainlink back toward $17.00 resistance. 

Momentum is currently mixed overall, with the MACD line crossing above the signal line in bullish fashion, but the RSI hovering at neutral levels around 50. Still, the technical backdrop appears to favor further gains for LINK in the near-term.

Crypto analyst Ali spots surging demand in the $14.8 to $15.2 zone, where 17,650 addresses acquired over 85 million $LINK. With limited overhead resistance, Chainlink looks positioned to push toward $20.

As a leading decentralized oracle network, Chainlink enables blockchains to securely interact with real-world data and events. This functionality allows complex smart contracts to execute based on reliable off-chain information.

With its dominant position as the leading decentralized oracle network, Chainlink boasts a robust underlying foundation supporting substantial price appreciation. Considering LINK remains over 50% away from its all-time high, hitting $52 appears well within reach given the project’s continual development and real-world adoption. 

However, the avid Chainlink community expects even greater highs considering its pivotal role in enabling universally connected smart contracts. As blockchain adoption accelerates, the need for reliable data feeds and off-chain connectivity will only increase over time – suggesting LINK’s utility has significant room to expand. Strong on-chain signals and community optimism point to considerable open-ended upside potential for this top crypto bluechip.

Wicrypt ($WNT) – Decentralized Mobile Internet Sharing

With a current market cap around $12 million, Wicrypt (WNT) is a small-cap cryptocurrency that could still deliver 100x returns in 2024. WNT is trading for just $0.047 at the time of writing, presenting an optimal entry point.

A current RSI of 53 indicates Wicrypt is neither overbought nor oversold at this point. This is considered a relatively neutral RSI level reflecting the coin’s recent consolidation. However, the indicator is starting to trend upwards, demonstrating gathering bullish momentum.

Source: TradingView

Wicrypt operates as a decentralized network enabling users to share and monetize mobile internet connectivity. The platform essentially serves as a virtual Internet Service Provider, free from centralized control. Users gain more autonomy over managing their own data.

The protocol facilitates end-to-end encryption of user data while also handling usage billing and payments. Compatible router “micro nodes” run Wicrypt firmware to create local WiFi zones that devices can connect to.

By acquiring one of these supported routers and installing the custom OS, anyone can set up a Wicrypt hotspot. Nearby mobile phones, laptops, PCs and other WiFi-enabled devices can then access the internet through these community-run access points.

Decentralization eliminates dependence on traditional ISPs while introducing new avenues for participants to earn from sharing bandwidth. As Web3 adoption amplifies, platforms like Wicrypt that disrupt legacy models will continue gaining traction.

Render Token ($RNDR) – GPU Power Sharing for Creators

Render Token (RNDR) powers the Render Network, a peer-to-peer marketplace where GPU resource providers and creators can exchange value. Node operators earn RNDR for contributing spare computational capacity for rendering projects. This allows creators access to GPU power for enhanced speed and lower costs.

Launched in 2017, Render Network utilizes blockchain to coordinate an open market for visual effects, machine learning and broader computational tasks beyond basic rendering. There is a capped supply of 536 million RNDR tokens that facilitate transactions on the network.

Source: TradingView

After surging over 600% in 2023, RNDR price could see similar outstanding returns this year according to analysts. It currently trades around $4.10, nearing resistance at $4.60 which aligns with the 4.236 Fib extension level.

The 200-day moving average sits at $2.40, suggesting RNDR remains in a clear decisive uptrend doubling this benchmark over the past 200 days. 

The RSI reading of 64 shows bullish momentum with some room left before overbought territory. Meanwhile, the rising MACD histogram and moving averages signal ongoing buying pressure likely to propel prices higher.

NEAR Protocol ($NEAR) – Developer-Friendly Cloud Computing Platform

NEAR Protocol stands out as a developer and user-friendly layer-1 blockchain tailored for cloud computing. It eliminates limitations around transaction speeds, throughput and interoperability that have hindered alternative networks. This provides an ideal foundation for deploying DApps.

For example, NEAR utilizes human-readable account names rather than complex crypto addresses. It also implements unique scaling solutions and a proprietary “Doomslug” consensus mechanism.

From a technical standpoint, NEAR price surged over 300% in Q4 2023 before consolidating around the $3.30 level after peaking at $4.30. Major resistance sits at $4.90, aligned with the 2.618 Fib extension on its chart.

Source: TradingView

Despite pulling back recently, NEAR trades well above its 200-day moving average of $1.70 after this parabolic move. It indicates the asset remains in a decisive long-term uptrend. Additionally, the RSI of 54 shows some remaining bullish momentum before becoming technically overbought.

As a developer-centric layer-1 blockchain prioritizing usability, NEAR has tremendous long-term growth potential as adoption of decentralized applications accelerates. Its focus on delivering a scalable, secure and consumer-friendly platform for cloud computing positions it as an appealing foundation for the next generation of DApps. 

If NEAR can continue gaining developer traction and emerging as the premier DApp hub, its enterprise-level capabilities could propel it into a top 10 crypto project.

Conclusion

With strong fundamentals and technical signals pointing to further upside, these seven altcoins are poised to make their mark in 2024. Powerful crypto bull markets often give birth to newly dominant projects destined for long-term success. This new year seems ripe with possibilities as these players aim to fulfill big visions and disrupt stagnant industries.

The seven altcoins profiled all have promising upside potential heading into 2024. Sponge V2 can ride the meme coin wave to deliver huge ROIs like its predecessor. Bitcoin Minetrix democratizes crypto mining rewards through cloud staking. Meme Kombat fuses gaming and memes for a viral combo. Chainlink remains the gold standard oracle solution as the core infrastructure enabling universal blockchain connectivity. 

Wicrypt disrupts centralized ISPs by letting users share and monetize mobile data. Render Token taps GPU power sharing to empower creators building Web3 projects. And NEAR Protocol provides the ideal user-friendly platform for the next generation of cloud-based dApps. With unique value propositions and committed communities, these altcoins are primed to produce monumental wealth creation opportunities in 2024/2025 bull run.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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