10 coins capturing traders’ interest

There are currently around 20,000 crypto tokens available, but every year more new coins are released and more alternative coins are added to the mix. Despite scams and other issues on crypto exchanges and some crypto projects, new coins continue to be released and investors continue to buy.

Here are some of the most followed new cryptocurrencies and their values.

Best new cryptocurrencies of 2024

The prices of new coins are usually very low, making it easy to buy large numbers of tokens. (Some prices from CoinMarketCap as of August 5, 2024)

1. Pepe Unchained (PEPU)

Pepe Unchained aims to make memecoin trading easier and cheaper, reducing the friction of trading on the Ethereum blockchain, and could also attract investors with increased staking rewards.

Last price: $0.0089102

2. PlayDoge (PLAY)

PlayDoge is a play-and-earn mobile game where users interact with a Shiba Inu dog as a Tamagotchi-style virtual pet and earn coins for doing so. These coins also offer big wagering rewards.

Last price: $0.00526

3. Doge2014 (DOGE2014)

Dogecoin has been one of the most popular cryptocurrencies and Doge2014 allowed investors to purchase its new coin at the starting price of the old Doge as part of its pre-sale. The new token offers huge staking rewards and is capped at 100 billion coins.

Last price: $0.000288

4. DogeVerse (DOG WORLD)

The multi-chain DoegVerse cryptocurrency connects the Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base blockchains. The total supply of the cryptocurrency is 200 billion tokens and offers significant staking rewards.

Last price: $0.000424

5. 99Bitcoins Token (99BTC)

This cryptocurrency is a learn-to-earn project that rewards users for their work on trading webinars and other courses. It is built on the Ethereum blockchain and users can earn staking rewards

Last price: $0.00116

6. 5. Escape (5SCAPE)

This cryptocurrency plans to create a platform that includes movies, education, games, and more using augmented reality and virtual reality. The project is planned to have a token supply of 5.21 billion.

Last price: $0.00376

7. Viennese (WAI)

You can’t sell anything with sausage! This cryptocurrency offers an AI bot that provides predictive trading advice for cryptocurrencies. The token is capped at 69 billion and offers staking rewards.

Last price: $0.0003394

8. Molars (MOLLARS)

This cryptocurrency aims to increase decentralization by offering a decentralized process for trading across blockchains with affordable fees. Users will be able to participate in the governance of the coin, and the supply is limited to 10 million tokens.

Last price: $0.1503

9. Mega Dice Token (DICE)

This cryptocurrency offers its owners a non-fungible token (NFT) with a profit-sharing share in its online casino and potentially a variety of benefits. It is based on the Solana blockchain.

The story continues

Last price: $0.105266

10. Basic Dawgz (DAWGZ)

As the name suggests, this cryptocurrency uses Base, an Ethereum-powered platform, and is interoperable with Ethereum, Avalanche, Solana, and Binance Smart Chain. The cryptocurrency also offers staking.

Last price: $0.007061

Should you buy the best new cryptocurrencies?

Cryptocurrency is already quite risky, and new cryptocurrencies add a whole new level of risk to the mix. Cryptocurrency is typically not backed by the hard assets or cash flow of an underlying business like stocks, so the price is entirely dependent on what other investors will pay. In other words, cryptocurrency is based solely on investor sentiment, and those sentiments can change quickly.

This risk is higher for new and unproven cryptocurrencies because fewer people know about them. Investors who buy new crypto early are betting on the new coin to receive more attention and interest. If new investors don’t come to buy the coin, its price could plummet and never recover.

For example, this is less risky for Bitcoin and Ethereum because they are the two largest cryptocurrencies and have already gained a lot of attention and trust from investors. Additionally, both Bitcoin and Ethereum are now approved for inclusion in exchange-traded funds (ETFs), which could ensure that money continues to flow into them, so investors will continue to rally around them.

Additionally, smaller and newer coins have the potential to be outright scams or “potential rugpulls,” with their creators skipping town with your money. If you want to trade new coins, you need to have a lot of trust in the founders and other backers.

In conclusion

New cryptocurrencies are riskier than even larger, more established ones like Bitcoin and Ethereum. Investors looking to profit from new cryptocurrencies should keep their investments in a small portion of their portfolio and consider spreading their bets to reduce overall risk.

Editorial Disclaimer: All investors are advised to conduct their own independent research on investment strategies before making any investment decision. Investors are also advised that past investment product performance is no guarantee of future price appreciation.