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14 Best Altcoins to Invest in 2024

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It’s time to start looking for the best altcoins to buy as the next Altcoin cycle is just around the corner. Now is the time to load up on some undervalued cryptocurrencies, but it can be difficult to find the right ones or to know which are the best altcoins to buy right now.

In this guide, I explore 14 altcoin projects with the highest upside potential, covering a blend of small and large-cap projects. I’ll also reveal my research methodology when ranking altcoins, allowing you to build a risk-averse portfolio.

  • Brand new mobile-based P2E meme game based on a Tamagotchi-style 2D pet.
  • Buy and stake $PLAY tokens via the presale to earn more crypto via staking and gaming. Currently offering massive APY rewards.
  • $PLAY token holders can earn XP by caring for their pet, the higher the XP the greater the rewards.
Project Launched
May 2024
Purchase Methods
  • BNB
    BNB
  • USDT
    USDT
  • Bank Card
    Bank Card
  • Brand-new meme ERC20 token integrating two hot niches AI and crypto meme culture
  • Degens can buy and stake $WAI to earn passive rewards in excess of 1,000% p/a
  • WienerAI's presale is currently trending having raised over $700k
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Bank Card
    Bank Card
  • BNB
    BNB
  • +1 more
  • The infamous Pepe gets his own blockchain with Pepe Unchained ($PEPU), a Ethereum Layer-2 Solution
  • Early investors can enjoy the huge staking rewards made possible by Layer-2 technology
  • Pepe Unchained aims to replicate the success of Pepe and expand the Pepe universe even further
Project Launched
June 2024
Purchase Methods
  • ETH
    ETH
  • BNB
    BNB
  • USDT
    USDT
  • Bank Card
    Bank Card
  • +1 more
  • Introducing Base Dawgz ($DAWGZ) a new Base chain meme token offering multi-chain interoperability.
  • Early presale investors get access to staking rewards via ETH blockchain as well as discounted market prices.
  • Base Dawgz is pioneering a new share-to-earn program in which users can earn $DAWGZ tokens by sharing memes on social media.
Project Launched
June 2024
Purchase Methods
  • BNB
    BNB
  • ETH
    ETH
  • SOL
    SOL
  • AVAX
    AVAX
  • BASE
    BASE
  • +2 more
  • Fun play on South Park with viral potential amid Solana meme coin craze
  • Looks to capitalize on expected Summer meme coin frenzy
  • Rumors that it's from same team as SLERF which saw big gains earlier this year
Project Launched
May 2024
Purchase Methods
  • SOL
    SOL
  • The world's top GameFi token hosted on the Solana blochain
  • Coming from an established crypto casino with over 50k players, $DICE offers new utility to this popular casino
  • $2.25M available via airdrops for casino players
Project Launched
April 2024
Purchase Methods
  • SOL
    SOL
  • ETH
    ETH
  • BNB
    BNB
  • Exciting new Learn-to-Earn ecosystem expected to 100x ahead of Bitcoin halving event.
  • Token holders gain exclusive access to trading webinars, courses and more.
  • Buy and stake $99BTC tokens to earn passive rewards.
Project Launched
April 2024
Purchase Methods
  • BNB
    BNB
  • ETH
    ETH
  • Bank Card
    Bank Card
  • USDT
    USDT
  • +1 more
  • Previous version witnessed 100x pump in 2023
  • Massive community of Spongers including +30k followers on social media
  • Early investors can buy and stake $SPONGEV2 tokens for 163% p/a rewards
Project Launched
January 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Bank Card
    Bank Card
  • Driving a sustainable transportation revolution with green $TUK presale
  • Investors can buy and stake $TUK tokens for 85% yearly rewards
  • Integrates AI for predictive maintenance of electric vehicles
Project Launched
September 2023
Purchase Methods
  • BNB
    BNB
  • USDT
    USDT
  • Bank Card
    Bank Card
  • New cat-themed meme token looking to overthrow Doge's dominance. Presale has already raised over $375k.
  • Throughout the presale buyers can earn extra $KAI tokens via staking.
  • Exciting meme coin with 10x potential that's been fully audited by Coinsult.
Project Launched
May 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Bank Card
    Bank Card
  • BNB
    BNB
  • +1 more
  • One-of-a-kind crypto project allowing users to trade fractional NFTs of real-world luxury vehicles
  • Users who acquire 100% of NFTs can burn their NFTs and have real-world car shipped to them
  • Buy $DCARS tokens to earn passive income from rentals. Presale has raised $250k+ so far
Project Launched
May 2024
Purchase Methods
  • BNB
    BNB
  • ETH
    ETH
  • Doge-inspired crypto project with Wild West themes and fun games.
  • Begin earning passively by buying and staking $SHIBASHOOT tokens for 2726% rewards.
  • $SHIBASHOOT token is also a utility coin with users able to earn Posse Rewards via a referral program, earn voting rights, and enter the Lucky Lasso Lottery.
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • Bank Card
    Bank Card
  • BNB
    BNB
  • +1 more
  • Brand new revolutionary crypto payment software solution designed to seamlessly integrate with traditional card machines.
  • SpacePay will let crypto enthusiasts use cryptos from 300+ wallets for daily purchases.
  • Native SPY token offers great utility including revenue share, airdrops, voting rights, and much more.
Project Launched
May 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • AVAX
    AVAX
  • Bank Card
    Bank Card
  • BASE
    BASE
  • BNB
    BNB
  • MATIC
    MATIC
  • USDC
    USDC
  • +5 more
  • New meme token project combining blockchain technology, Web3 retro boxing games, celebs, and funny memes.
  • This meme utility project donates proceeds to various charities including Breast Cancer research and Save the Children.
  • Presale is expected to sell out quickly with $FNIO tokens poised to list on top CEXs immediately after.
Project Launched
May 2024
Purchase Methods
  • BNB
    BNB
  • ETH
    ETH
  • USDT
    USDT
  • World’s first auto-liquidity meme coin on the Polygon network with fun branding, ingenious tokenomics, and innovative features.
  • With a lucrative Share and Earn referral system, users can earn 20% of commission in MATIC on any sale they generate.
  • The ButtChain presale is currently trending and making headlines in the crypto space.
Project Launched
May 2024
Purchase Methods
  • Bank Card
    Bank Card
  • BNB
    BNB
  • ETH
    ETH
  • MATIC
    MATIC
  • SOL
    SOL
  • USDT
    USDT
  • +3 more

The 14 Best Altcoins to Buy Now

The 14 best altcoins to invest in today are ranked below:

  1. PlayDoge – P2E game and best overall altcoin investment  with over $360k in presale.
  2. WienerAI – Uniquely combines the fun of memes with AI and offers high staking rewards
  3. Sealana – New Solana-based meme altcoin, raised nearly $150K since the presale launched
  4. Base Dawgz – Base Meme Coin with share-to-earn rewards and network-hopping abilities
  5. Mega Dice Token – Solana-based casino token offering cashback, NFT perks, and a share of profits
  6. 99Bitcoins – Hottest new altcoin with over 19,000% staking APY during the early presale
  7. SpacePay – Innovative Point-of-Sale (PoS) crypto payments processing platform with Barclay’s Bank credentials.
  8. Fight Night – Promising new meme crypto with a unique boxing game and high staking rewards.
  9. Solana – A legitimate ‘Ethereum Killer’ with a growing dApp and smart contract ecosystem
  10. Decentraland – Invest in the leading metaverse project, trading at a 90% discount
  11. SushiSwap – Underpriced DEX token, currently valued at just over $365 million
  12. Chainlink – De-facto Oracle ecosystem providing real-world data to smart contracts
  13. Arbitrum – Great option for investing in layer 2 solutions for the Ethereum blockchain
  14. Jupiter – SOL-based exchange token with one-month growth of over 150%

Top Altcoins with the Most Potential – Full Analysis

My list of top altcoins to buy will now be discussed in more detail. Read on to select the best altcoin projects for your crypto portfolio.

1. PlayDoge (PLAY) – Best Altcoin Token Offering High Rewards to Players of P2E Game

PlayDoge is considered to be a top contender for being the best altcoin tinvestment in 2024. Created as a merger between a Tamagotchi-inspired play-to-earn (P2E) game and the iconic Doge meme, players are able to earn $PLAY tokens while tending to a digital pet.

The project has now raised nearly $380,000 USDT as research showed the mobile gaming market could rise to a value of $665 billion by 2033. Additionally, the P2E category in particular is currently valued at $13 billion according to CoinMarketCap.

50%  of its 9.4 billion tokens has been allocated to the presale, with 25% divided between project development and marketing. The remaining tokens have been split as follows, 11.5% to liquidity, 7.5% for community rewards, and 6% to staking.

As of writing this, over 24,280,135 tokens have been staked, with rewards of 775% APY on offer for early investors. With strong gains from the likes of Dogecoin, Shiba Inu and Floki in recent weeks, PlayDoge could be the latest dog-themed token to rally this summer. Follow PLAY on X (Twitter) and via its Telegram channel.

Visit PlayDoge

2. Sealana – New Solana-Based Meme Coin, Based on a South Park Character

The next top altcoin in 2024 is Sealana ($SEAL). This is a new meme cryptocurrency, fueled by humor and laughter. The main avatar of the Sealana project features an American Redneck seal. This lazy and obese seal decides to start trading crypto tokens to get out of his mom’s basement.

The seal avatar pays homage to ‘World of Warcraft Guy’, a popular character from the South Park show. Sealana’s meme coin may not have much utility but it is trending in the Solana and altcoin space. In only a couple of days since the presale launch, Sealana has raised nearly $150K.

Sealana presale

Sealana is conducting a ‘Send to Wallet’ style presale, where one can send SOL tokens directly to the following wallet address – DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c. 

Once the tokens are received, Sealana will transfer $SEAL tokens to your cryptocurrency wallet. At the time of writing, you can receive 6,900 $SEAL tokens for every 1 SOL transferred. Due to the recent success of SOL meme coins like Popcat and Solama, Sealana is in high demand.

Stay tuned for further project updates by joining the Sealana Telegram channel and following Sealana on X (Formerly Twitter)

Visit Sealana

3. WienerAI – Uniquely Combines The Fun of Memes With AI and Offers High Staking Rewards

Next on our list of best altcoins is WienerAI ($WAI). It uniquely combines the fun idea of dog-themed meme cryptos with artificial intelligence (AI).

The platform’s main character is a Wiener dog that describes itself as an “upgradeable cybernetic canine AI.” It aims to build a platform that keeps evolving its AI capabilities.

Early buyers can get $WAI tokens for only $0.000702 at press time. It is worth noting that the platform raised over $640K within a week of launch.

Once the platform reaches its immediate target of raising nearly $1 million, the price will increase in the next presale stage.

WienerAI presale homepage

The project offers a high staking APY of over 1,300 at the time of writing. But this rate will decline as more people join the staking pool.

If you’re interested in investing, you can buy $WAI using various cryptos like BNB, ETH, or USDT directly through the project’s presale website.

The recently launched $WAI token presale lets early buyers grab 30% of the total 69 billion tokens at a discounted price. You can enter WienerAI’s Telegram group and follow it on X (previously Twitter) to keep up with the latest progress.

Visit WienerAI Token Presale

4. Base Dawgz – Base Meme Coin with Share-to-earn Presale Rewards

Base Dawgz is a new meme coin launching on Base, the Layer-2 chain for Ethereum that’s looking to displace Solana as the #1 network for meme trading. Base Dawgz aims to follow in the footsteps of $BRETT, a recently launched meme coin that rocketed more than 120x after launching in March.

Base Dawgz is building hype for its new $DAWGZ token with a share-to-earn system that rewards early investors for spreading the word about the Base Dawgz presale. Investors can link their X accounts to the presale, then earn tokens for every post they share from the Base Dawgz X account. At the end of the presale, these tokens can be redeemed for additional $DAWGZ coins.

Base Dawgz Presale 450k

The $DAWGZ meme coin also has built-in utility. It’s launching simultaneously on Base, Ethereum, Avalanche, Solana, and Binance Smart Chain, so token holders will be able to move value across these networks with ease. Base Dawgz also plans to roll out staking in the future.

The Base Dawgz presale is off to an incredible start, raising more than $450,000 in just 3 days. Analysts like Jacob ‘Crypto’ Bury have already called it the next Base token with 100x potential.

Visit Base Dawgz

5. Mega Dice Token – Solana-based Casino Token Offering Cashback, NFT Perks, and A Share of Profits

Another altcoin to watch out for is the Mega Dice Token ($DICE). Mega Dice Casino is quite a popular platform with over 50,000 players and an average betting volume of over $50 million every month.

It recently launched a presale for its native crypto – $DICE. It’s a Solana-based token that caught investors’ attention since its launch.

Early buyers can get $DICE for only $0.069 in the ongoing presale. $DICE holders can get perks like cashback when they play at the casino, special NFTs perks, and free tokens from airdrops.

$DICE holders can also get exclusive access to events and games, rewards, and a share of the money the casino makes daily.

Mega Dice Token Presale

The platform raised over $850K in just a few weeks of launch, showing huge community support. It also has a referral commission, where you can earn 10% (with no upper limit) of the amount invested by anyone you’ve referred.

They’re offering 35% of the 420 million tokens during the presale and giving 15% away to players in airdrops.

Mega Dice also uses top-notch security protocols, is mobile-friendly, and has a strong community on Telegram. You can follow Mega Dice on X (previously Twitter) for the latest news and updates.

Visit Mega Dice Token Presale

6. 99Bitcoins – New Token Presale With Over 19,000% Staking APY and an Airdrop Worth $99,999

99Bitcoins is one of the best altcoins you can buy now as it comes with a low price during the presale – and it rewards early stakers with an APY of over 19,000%.

All you have to do is connect your Ethereum wallet like MetaMask to the 99Bitcoins Token presale site and use ETH, USDT, BNB or a card to complete the purchase. You are free to stake as soon as you have the tokens. However, you can claim your tokens once the presale ends.

99bitcoins presale

Another way the team rewards early investors is via an airdrop of $99,999 worth of $99BTC tokens. Complete simple steps like following 99Bitcoins on X and joining the 99Bitcoins Telegram channel for a chance to earn a piece of the airdrop pie.

Aside from ongoing rewards, there’s a high chance that the $99BTC token could appreciate this bull run as Bitcoin trades at all-time highs and Bitcoin halving event is about to happen. As people want to learn more about crypto, 99Bitcoins could see a massive boost to its token price.

Visit 99Bitcoins

7. SpacePay (SPY): Delivering Innovation to Point of Sale Crypto Payments

Spacepay is a UK-based FinTech company on a pioneering mission to deliver the future of innovative point-of-sale crypto payments.

From developing the world’s leading near-field communication (NFC) product for crypto payments, Spacepay is heralding a revolution in how users interact with cryptocurrency in their day-to-day lives. And that’s without digging into SpacePay’s suite of planned commercial SPY APIs.

Just imagine a simple, sleek, touchless way to use cryptocurrency in-store instead of Fiat currencies. This is the future SpacePay is delivering.

At the time of writing, the project is on the cusp of launching the highly anticipated SpacePay SPY presale, which will offer the earliest investors a significant opportunity to be amongst the first to invest in this new payments ecosystem.

Amid the hype of the presale funding round, there will be a full in-depth contract audit conducted to ensure the security of the platform, ahead of the monumental launch of the SpacePay Payment APK (the flagship product).

More details can be found in the whitepaper tells us that the project is putting 20% of the total token supply up for grabs in presale.

  • Presale project: SpacePay ($SPY)
  • Raised so far: $0 – Presale Launches Soon
  • Blockchain: Ethereum blockchain
  • Token type: ERC-20
  • Accepted payment methods: ETH, USDT, Visa & Mastercard

Visit SpacePay

8. Fight Night – Promising New Meme Crypto with a Unique Boxing Game and High Staking Rewards

Fight Night ($FNIO) is a trending new altcoin that offers an exciting game based on famous boxers Muhammad Ali and Mike Tyson. It’s quite different from other meme coins that usually have animal themes. It offers a highly rewarding Web3 game and a webtoon series.

In the boxing game– you play as Mike Tyson, who gets hit by lightning and meets Muhammad Ali. Ali gives Tyson magic gloves and tells him to go beat the bad guy (Jake Paul). You will be rewarded with $FNIO as you play the game and can use these tokens to get rewards and other exclusive benefits.

Fight Night is currently in its presale phase. Early buyers can grab 48 billion out of the total 200 billion tokens at a lower price in this presale.

Fight Night Presale homepage

At the time of writing, you can get $FNIO for only $0.00091. This price will increase at the time of upcoming exchange listings.

Early buyers can also stake their $FNIO tokens during the presale and earn an APY of over 10,000 at press time. However, this APY will reduce as more people enter the staking pool. 

It’s also worth noting that the platform will launch boxing-themed casino games where you can win $FNIO tokens, NFTs, and other prizes.

Buyers can join Fight Night’s Telegram group and follow it on X for the latest updates.

Visit Fight Night

9. Solana – A Legitimate ‘Ethereum Killer’ With a Growing dApp and Smart Contract Ecosystem

Solana is one of the best cryptocurrencies to buy right now. While we’ve heard the term ‘Ethereum Killer’ since the 2017 bull cycle, Solana is the most legitimate competitor. The developer community has realized that Solana offers a much better alternative to Ethereum. This is especially the case when considering fees.

Fees skyrocket when the Ethereum network is in high demand. In contrast, Solana averages just $0.00064, even when the network is busy. Solana also handles significantly more transactions per second. Transactions are also much faster. This is why an increasing number of decentralized applications (dApps) are opting for the Solana ecosystem.

Solana price prediction

This bodes very well for its native token, SOL. In the prior year of trading, SOL has increased by almost 800%. According to CoinMarketCap, SOL is trading 30% below its all-time high. Solana has a market capitalization of over $80 billion, which is about a fifth of Ethereum’s valuation.

Note: You can buy SOL on eToro from just $10. eToro is a regulated crypto broker offering fee-free USD payments.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. 

10. Decentraland – Invest in the Leading Metaverse Project, Trading at a 90% Discount

Decentraland is one of the best altcoins to invest in the metaverse niche – especially at current prices. Its native metaverse token, MANA, trades at a 90% discount from all-time highs. What’s more, Decentraland has a market capitalization of just over $1 billion. This offers an attractive valuation as we approach the altcoin season.

MANA has many use cases within the Decentraland ecosystem. For instance, Decentraland users can buy plots of metaverse land with MANA. They can also upgrade their land by building real estate. Decentraland supports unlimited customization, meaning users can build their dream home.

Decentraland price chart

MANA is also required to purchase in-game assets, such as apparel. Decentraland is also a play-to-earn gaming platform. Developers can build games and sell virtual experiences. Again, all payments are made in MANA. The main drawback is MANA’s recent price performance. While Bitcoin has increased by 135% in the prior year, MANA has risen by just 1%.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance.

11. SushiSwap – Underpriced DEX Token, Currently Valued at Just Over $365 Million 

SushiSwap could be a great option if you want exposure to decentralized exchanges (DEXs). This marketplace is expected to grow rapidly during the next bull run. After all, an increasing number of new cryptocurrencies are being launched – most opt for DEXs. Although Uniswap is the largest DEX by trading volume, SushiSwap’s valuation is a lot more attractive.

For instance, SushiSwap is currently valued at just over $365 million. In contrast, Uniswap trades at a 17x premium with a market capitalization of $6.5 billion. There’s little to separate the two DEXs in terms of functionality. For instance, both are built on the Ethereum network and support cross-chain capabilities.

SushiSwap price chart

Moreover, SushiSwap and Uniswap both charge trading fees of 0.3%. In terms of price performance, SushiSwap’s native token, SUSHI, is up 42% in the prior year. This is below par when compared to the broader market. Nonetheless, those buying SUSHI tokens today will secure a 92% discount from all-time highs.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. 

12. Chainlink – De-Facto Oracle Ecosystem Providing Real-World Data to Smart Contracts

Chainlink is an altcoin that all crypto investors should have some exposure to. It’s the de-facto leader in the Oracle industry, meaning it provides real-world data to smart contracts. This enables dApps to obtain information outside of its native network, a crucial aspect of the Web 3 sector.

Moreover, Chainlink supports blockchain interoperability. This means different blockchain networks can share data without needing a centralized third party. Chainlink’s native token, LINK, is needed to request data feeds. It’s also used to incentivize Oracle networks, ensuring that data is accurate and unbiased.

Chainlink price

Chainlink will likely serve all sectors, including insurance, education, finance, healthcare, and aviation. Chainlink is currently valued at over $10.4 billion. While this large-cap valuation might put some investors off, the upside potential is still huge. Over the prior 12 months, LINK has increased by 145%. However, it’s still 66% down from all-time highs.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. 

13. Arbitrum – Great Option for Investing in Layer 2 Solutions for the Ethereum Blockchain 

Arbitrum is one of my top altcoin picks for layer 2 solutions. There appears to be no on-chain fix for Ethereum’s fee crisis, so layer 2s are expected to do very well during the altcoin season. Arbitrum not only reduces ERC-20 fees but it increases scalability and speed.

Arbitrum continues to attract dApps, with 281 projects currently bridged to its ecosystem. This includes Curve DAO Token, Gnosis, Dai, Uniswap, the Graph, and Wrapped Bitcoin. Overall, the Arbitrum ecosystem is valued at nearly $200 billion. What’s more, Arbitrum is renowned for its robust security and progressive development team.

Arbitrum price prediction

Projects using Arbitrum’s layer 2 solutions pay fees in ARB. This is the token you need to gain exposure to Arbitrum’s growth. It has a market capitalization of almost $4 billion, so there’s lots of room for growth. In the prior month, Arbitrum has declined by 30%. This offers another chance to buy ARB at a huge discount.

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. 

14. Jupiter – SOL-Based Exchange Token With One-Month Growth of Over 150% 

Investors might also consider Jupiter when exploring what altcoin to buy. This is a new yet hugely popular DEX for the Solana ecosystem. It enables traders to buy SOL-based tokens without relying on third parties. Jupiter also offers a dollar-cost averaging (DCA) feature, which is unique in the DEX space.

This enables investors to DCA their positions at their preferred intervals. This starts from just one minute up to a month. The smart contract will make the respective swaps automatically, so it’s completely passive. Jupiter also supports limit orders, bridging tools, and perpetual swaps.

Jupiter price chart

These innovative features are reflected in the Jupiter price. Its native exchange token, JUP, has increased by over 150% in the prior month. Moreover, Jupiter has a market capitalization of $2 billion. This is much lower than other exchange tokens like BNB. However, the main drawback is that less than 14% of the JUP supply is currently in circulation.

Buy JUP on MEXC

What is an Altcoin?

There are thousands of cryptocurrencies in the market. Every single one – apart from Bitcoin, is an altcoin. Over time – especially during bull cycles, altcoins often outperform Bitcoin by many multiples. This is because Bitcoin has already secured a mammoth market capitalization.

For example, consider that Bitcoin is valued at over $1 trillion. In contrast, some altcoins have a market capitalization of several million dollars. This enables altcoin investors to target much higher growth. It’s important to know that most altcoins are built on other networks. For example, altcoins on the Ethereum network are ERC-20 tokens.

A much smaller percentage of altcoins have their own priority blockchain. These are typically the most valuable. Examples include BNB, Solana, Cardano, Dogecoin, and Avalanche. Ultimately, the best approach to altcoin investing is to diversify, as knowing which tokens will blow up can be challenging.

Why Invest in Altcoins?

I’ll now take a much closer look at why altcoins remain popular with investors. This will help you assess whether altcoins are right for your portfolio.

Potential for Explosive Growth

The main attraction of altcoins is their potential for explosive growth. This is due to the market capitalization. As mentioned, Bitcoin is already valued at over a trillion dollars. While Bitcoin’s long-term future is bright, it’s unlikely to achieve 100x gains in any single bull cycle.

This isn’t the case with altcoins. Depending on the valuation, altcoins can blow up by over 100x in a matter of weeks. This often happens when an altcoin begins trending on social media and/or major media publications. Dogwifhat is a great example of what a successful altcoin investment looks like.

Memecoins Bloomberg

While dogwifhat is simply a meme coin with no utility, it has witnessed unprecedented gains since launching in November 2023. The first recorded price of dogwifhat was $$0.000001366. Dogwifhat hit an all-time high of $4.85 in March 2024. So, had you invested from the get-go, you’d be looking at gains of over 355 million percent.

And it’s not just small-cap meme coins that can yield substantial returns. Take Solana, which has increased by over 800% in the past year – even though it’s already a billion-dollar project. On a longer time frame, Solana is up over 22,000% since its 2020 inception.

Invest in Projects Before They Become Mainstream

The altcoin space is similar to investing in a startup. You can buy brand-new tokens while the project is still young. As an early investor, you’ll usually secure a very attractive entry price. This translates to a low token price and a micro-cap valuation. As the project achieves its roadmap goals, its valuation should increase.

This is because new buyers are encouraged to invest, once they see the project is making waves. For example, 5th Scape is a brand-new crypto startup from the VR and AR niche. It has developed a proprietary VR headset. This can be used when playing 5th Scape games, which are unique to the ecosystem.

5th Scape hasn’t launched on crypto exchanges yet as it’s currently in presale. This means investors can buy its native token at the best price possible.

Just remember that most altcoins will fail – no matter how innovative their products or services are. This is why the most successful altcoin investors will diversify. Put otherwise, if you’ve only got $1,000 to invest – avoid putting it all into one altcoin. Instead, consider spreading the investment across multiple projects.

Altcoin Season is Approaching 

Altcoin season is one of the most exciting periods in the crypto space. It occurs during the Bitcoin bull market. Capital flows gradually leave Bitcoin and begin entering altcoins. This results in many altcoins experiencing parabolic growth. As each cycle passes, altcoin season becomes bigger. There is no exact science on when the altcoin season should start.

Instead of trying to time the markets, investors should fuel their portfolios with cheap altcoins. This will position investors nicely for when the altcoin cycle eventually begins. According to TradingView data, the altcoin market peaked at $303 billion in the 2017 bull market.

Total altcoin market cap

In the 2021 bull market, it peaked at over $1.5 trillion. Today, the total value of all altcoins is just over $1.1 trillion. This means the market needs to increase by about 35% just to get back to 2021 levels. After that, some altcoin price predictions believe unparalleled heights will be reached.

Easy to Create a Diversified Altcoin Portfolio

There are thousands of altcoins to choose from, making it difficult from an analysis perspective. However, this also makes it simple to create a highly diversified portfolio. You’d only need one of your altcoin picks to explode to see a sizable return on investment.

For example, suppose you want exposure to layer 1 altcoins; these typically do well during bull markets. Instead of just investing in Solana, you might also consider BNB, Cardano, Avalanche, Cosmos, Aptos, Sui, and Sei. In the metaverse space, you might consider Decentraland, the Sandbox, and Axie Infinity.

Building a meme coin portfolio also requires diversification. You might consider brand-new meme coins like PlayDoge, Sealana, Base Dawgz, and Mochi. In addition to established meme coins like Dogecoin and Shiba Inu. Ultimately, failing to diversify can be risky, as you’re putting all of your eggs into one altcoin basket.

How Many Altcoins Are There?

There are a significant number of altcoins in the market. I mentioned earlier that there are ‘thousands’ to choose from, as this mirrors what CoinMarketCap tracks.

However, the reality is that millions of altcoin tokens have been created. For instance, there are over 450,000 tokens on the Ethereum network alone, as per BitPay data. The vast majority are worthless; they have no trading volume or active holders.

Crucially, anyone can create an altcoin. There are now online platforms that allow beginners to launch an altcoin in under 10 minutes. This includes a fully-fledged smart contract.

How to Find the Best Altcoins to Buy

Finding the best altcoins with the most potential is challenging. Most altcoin investors – especially complete beginners, will lose money. This is often because they don’t know where to look. Or what signs to look out for.

Fortunately, there are some best practices that you can follow. Let’s take a closer look at how to build a successful altcoin trading portfolio.

Look for Trending Presales

If you’re looking to buy the best new altcoins before they become mainstream, presales might be the best option. You can invest in a project before it begins trading on exchanges.

This is like investing in a stock IPO before its NASDAQ or NYSE listing. I should, however, note that presales carry the most risk.

Explore Birdeye to Find Micro-Cap Gems

Using Birdeye is another strategy to find the best altcoins to buy. This data aggregation platform tracks altcoins that trade on decentralized exchanges. It covers the leading network standards, including Ethereum, Base, Solana, BNB, and Arbitrum. You can see which altcoins are trending, and which projects have seen the biggest gains and losses.

Birdeye altcoin gems

I would suggest clicking on the ‘Find Gems’ button. You’ll then have access to some useful filters. For example, you can filter altcoins by the number of token holders. You can then change the market capitalization. For instance, you might only want to see altcoins valued between $1 million and $10 million. Other useful filters include 24-hour views, watchers, and volume.

Importantly, only invest in a micro-cap altcoin if its liquidity is locked. This means the liquidity pool cannot be drained by the developer. This is a common scam in the altcoin space – so tread with caution.

Assess Which Crypto Narratives Are Hot 

There is often a particular narrative during the altcoin season. Each narrative can last for days, weeks, or months. It depends on how much buying pressure there is. Once a narrative has reached its peak, a new one begins. For example, during the prior bull market, some of the most popular altcoins were decentralized finance (DeFi), play-to-earn (P2E) games, and metaverses.

The narrative in recent months has been AI and Solana meme coins. In my view, the next big narratives will be Base network and real-world asset (RWA) tokens. Both of these niches are showing strong signs, so they’re well-primed for altcoin season. P2E and AI will likely stick around too.

Once you’ve determined which narratives to invest in, make sure you’re diversified. Nobody can predict which specific altcoins will blow up – so it’s best to have exposure to multiple projects within each narrative. Just don’t buy too many altcoins, as this can be difficult to manage.

Always Have Exposure to Layer 1 Protocols

I mentioned earlier that layer 1 protocols always perform well during bull cycles. Especially those that have entire ecosystems. For example, Ethereum and Solana enable developers to build dApps. Transactions within each dApp must be settled in ETH and SOL, respectively. This enables Ethereum and Solana to grow organically as more dApps are built.

That said, Ethereum and Solana are already large-caps, so some of you might want exposure to layer 1 protocols with smaller valuations.  For instance, Sei, Sui, and Fantom are valued at around $2 billion. These projects could be worth significantly more once altcoin season begins.

There are also layer 1 protocols valued at under a billion dollars. This includes Chia, Chromia, WAX, Aleph Zero, and Casper. Once again, this is where diversification can help. Spread your capital over multiple layer 1 protocols with varying valuations. You can always move money around if you lose interest in a particular protocol.

Potential Risks of Investing in Altcoins

I’ve explained that altcoin season can generate significant wealth. Unfortunately, the opposite can also happen. Some crypto investors will lose vast sums in the coming months, so the risks should not be understated.

First, remember that altcoin prices rise and fall. Even during altcoin season, some projects will fail. This means you could lose some or even all of your original investment. The latter is more likely if you end up investing in a crypto scam. For example, many newly launched tokens aren’t legitimate.

The ‘developer’ will aim to scam as many people as possible. They can do this in various ways, but the most common is to drain the liquidity pool. This means there is no liquidity for holders to sell their tokens, meaning they’re now worthless. Another scam is to adjust the altcoin’s smart contract.

For example, the developer might restrict token sales, meaning investors can no longer cash out. They could also issue new tokens, and then dump them on the open market. I’ve also seen altcoin scams that suddenly add a huge tax. For instance, 99% of the token sale will be taxed and transferred to the scammer’s wallet.

Another mistake that beginners make is assuming an altcoin will always recover. However, many well-known altcoins trade at small fractions of their prior highs. For example, XRP’s all-time high was achieved in 2018. Ultimately, risks can be reduced through diversification, dollar-cost averaging, and in-depth research.

Conclusion

In summary, I’ve revealed the top altcoins to invest in for the next bull cycle. I’ve covered a broad range of niches, including meme coins, decentralized finance, metaverses, Oracles, and Base network tokens.

My overall top altcoin pick is PlayDoge; a new P2E token that’s currently in presale. Over $360k has been raised in the first few days and the token offers an high staking rewards to new investors.

Visit PlayDoge

FAQs

What are altcoins?

Altcoins are cryptocurrencies other than Bitcoin. There are thousands of altcoins in the market, ranging from multi-billion dollar projects to micro-caps.

What are the best altcoins to buy?

Some of the best altcoins to watch are PlayDoge, Sealana, and WienerAI. These are presale altcoins that are yet to launch on crypto exchanges.

Which new altcoins have the most potential?

PlayDoge is an altcoin with huge potential. This meme-inspired coin project has raised over $300,000 in the first few days of its presale.

What is the difference between altcoins and cryptocurrency?

All altcoins are cryptocurrencies. The only cryptocurrency that isn’t an altcoin is Bitcoin.

Should I buy altcoins or Bitcoin?

Most investors will own Bitcoin and a portfolio of altcoins. This offers a balanced approach to crypto investing.

Where to buy altcoins?

New altcoins usually trade on decentralized exchanges like Pancakeswap or Uniswap. Established altcoins like Solana and Ethereum trade on centralized exchanges, such as eToro, Kraken, and Binance.

References

  1. Memecoin Billionaires Are Back With Bets on Being the ‘First Idiot In’ (Bloomberg)
  2. Crypto Total Market Cap Excluding BTC (TradingView)
  3. ERC-20 Tokens: What They Are and How They Are Used (BitPay)
  4. Why Decentralised Finance (DeFi) Matters and the Policy Implications (OECD)
  5. What Are the Most Popular Crypto Scams to Watch For in 2024 (Time)

Kane Pepi is an established financial and crypto content writer who has an impressive portfolio of over 2k articles, guides, and market insights. With his market knowledge in specialized areas such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane Pepi has acquired a good reputation for delivering succinct explanations of complex financial issues. He has a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently completing his Doctorate degree, which investigates the intricacies of money laundering in the cryptocurrency and blockchain technology sectors. Kane's experience in the world of finance make him a valuable resource for those looking to navigate the world of finance and cryptocurrency.

View all Posts by Kane Pepi

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