The cryptocurrency market continues to wrestle. After recovering barely to $2.33 trillion earlier this morning, its whole cap has since fallen again right down to $2.5 trillion. Whereas that is disappointing for anybody hoping for a robust restoration earlier than Christmas, it arguably supplies a great alternative to purchase decrease priced cash at a reduction. Due to this, we’ve put collectively an inventory of the 5 finest penny cryptocurrency to purchase proper now. This covers cash priced at round $1 or beneath.
5 Greatest Penny Cryptocurrency to Purchase
1. Dogecoin (DOGE)
DOGE has had a great 24 hours, rising by 13%. At $0.181205, it’s additionally up by 2.3% previously week, however down by 31% within the final 30 days.
DOGE obtained an enormous increase yesterday when Tesla CEO Elon Musk tweeted that the carmaker would start accepting the cryptocurrency as cost for a few of its merchandise. As you’ll be able to see from the chart above, its relative energy index (in purple) shot as much as 90 as merchants entered the DOGE market. This quantity has since declined to only beneath 50, though the value of DOGE stays comfortably above the place it was earlier than the tweet. On the similar time, DOGE’s 30-day shifting common (in crimson) remains to be nicely past its 200-day common. This means that DOGE could have damaged out from its earlier stage and may very well be well-placed to proceed rising within the close to future.
Tesla will make some merch buyable with Doge & see the way it goes
— Elon Musk (@elonmusk) December 14, 2021
Certainly, with Musk persevering with to champion DOGE in a technique or one other, count on the coin to proceed experiencing episodic rallies sooner or later. It additionally boasts a robust neighborhood of holders and supporters, with its Reddit web page boasting 2.2 million subscribers, up from 177,000 at first of 2021.
It additionally advantages from promotions by individuals aside from Elon Musk. This one from Binance’s CZ is among the most up-to-date, previous to Musk’s tweet.
I am gifting away a DOGE Tesla & $50,000 in $DOGE. Which would you like?
?Comply with @elonmusk, @binance, @cz_binance
?Have a KYC’d Binance account
?Tweet the prize you need & why with hashtags #DOGEorTesla & #Binance
Our favourite reply from every ‘staff’ will win. pic.twitter.com/A2VLB6fh4a
— CZ ? Binance (@cz_binance) November 29, 2021
2. ECOMI (OMI)
OMI is up by 15% previously 24 hours, rising to $0.00641651. This additionally represents a 14.7% rise previously week, though the coin is down by 12% within the final month.
OMI is having fun with sturdy momentum proper now. Its RSI is hovering round 65, having crept into overbought territory earlier this morning. Its 30-day common can be capturing above its 200-day, indicating that it may very well be reaching new assist and resistance ranges.
OMI is the native token of ECOMI, a digital collectibles market. Its latest rally is due largely to the truth that it’s migrating over to Immutable, a layer-two scaling answer for Ethereum.
Thrilling information! Part 2 of the Immutable migration continues at this time (14 Dec) from 6PM PT ?
Throughout Part 2, we’re re-minting all @veve_official NFTs on Ethereum Layer 2 by way of @Immutable!
Migration is predicted to take 3-10 hrs. We are going to maintain you up to date on its completion. [THREAD]
— ECOMI ⭕️ (@ecomi_) December 14, 2021
It will make the platform extra scalable and environment friendly, enabling it to succeed in extra customers. And in flip, this could improve demand for OMI, bumping up its very low value.
3. The Graph (GRT)
At $0.641719, GRT is up by 6.8% previously 24 hours. Nevertheless, it stays 7% down previously week and 40% down previously month.
GRT appears to be like prefer it’s on the point of a breakout rally. It has been declining ever since reaching an all-time excessive of $2.84 on February 12. This implies it has fallen a good distance, however by the identical token it has loads of potential to rise again strongly. Its 30-day common is nearly to kind a ‘golden cross’ by overtaking its 200-day. This implies it may rally for a short while longer but.
GRT is the native token of the Graph, an open-sourced protocol enabling customers to gather, course of and retailer information from varied blockchain functions. GRT is staked by customers of the protocol so as to retrieve and retailer info.
Celebrating its first birthday, the Graph has additionally just lately celebrated numerous new partnerships and launches. This largely explains its latest rises, because it comes for use extra throughout the wider crypto ecosystem. It’s additionally why it’s one in all our 5 finest penny cryptocurrency to purchase proper now.
? @auroraisnear is partnering with @graphprotocol!
Aurora, the EVM on #NEAR, will use The Graph to deliver superior listed information to Aurora customers and builders.
? This collaboration marks one other step in the direction of constructing a decentralized internet.
Learn extra ?https://t.co/IXn1CL8Gys
— NEAR Protocol (@NEARProtocol) December 7, 2021
4. Shiba Inu (SHIB)
SHIB is up by 3% previously 24 hours, having risen to $0.00003407. That stated, this value is a 6% drop in comparison with one week in the past, and a 36% fall in comparison with this time final month.
SHIB’s technical indicators counsel that it may very well be well-placed for a rebound. Its 30-day common has begun creeping up in the direction of its 200-day, doubtlessly indicating an imminent golden cross. Likewise, its RSI has begun rising up from 50.
As with DOGE, SHIB advantages from a big and dependable following. Its neighborhood of holders and supporters are able to pump the coin at a second’s discover, as this previous 12 months has confirmed.
For example, its Reddit web page now counts round 451,000 subscribers, up from 200,000 in early August.
On high of this, it continues to profit from constructive endorsements and items of reports. Most notably, retailer Newegg introduced on the finish of November that it could be accepting cost in SHIB from early December onwards.
Hey #ShibArmy, how we wanting on America’s largest digital out-of-home billboard? @ShytoshiKusama #Shib
We’ll be formally accepting @Shibtoken in by early December by way of @BitPay https://t.co/MR2ydiQpq6 pic.twitter.com/MyuxHSIjVw
— Newegg (@Newegg) November 30, 2021
5. Radix (XRD)
XRD is up by 17% previously 24 hours, to $0.271159. This represents, nevertheless, a fall of 8% previously week and of 56% previously month.
Apparently, whereas XRD’s RSI suggests very sturdy momentum, its 30-day common has solely simply begun rising. It nonetheless hasn’t crossed its 200-day common but, suggesting that its present rally could proceed for some time but.
Radix is a layer-one blockchain supposed to assist DeFi functions. Launched earlier this 12 months, its native token reached an all-time excessive of $0.651264 one month in the past, earlier than declining. As a platform, it claims to be “1000x” extra scalable than Ethereum.
Immediately, it rolled out Scrypto, a streamlined programming language that can assist extra builders to construct extra DeFi functions on its community. Up to now, Radix doesn’t present up on ‘whole worth locked in’ websites resembling DeFiLlama. However because of upgrades resembling Scrypto, this could solely be a matter of time. And as soon as it does, XRD ought to conceivably rise even increased. Because of this it’s one in all 5 finest penny cryptocurrency to purchase.
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