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The crypto market has been in a state of flux over the past few months, with many high-potential cryptos bearing the brunt of the decline. However, investors don’t have to worry because Bitcoin (BTC USD) has barely fallen from its peak. Although it is down almost $12,000 from its all-time high, this decline is a minuscule percentage compared to historical trends.
Bitcoin experienced multiple 15-30% declines in previous bull runs before reaching new highs in these cycles. The current bull market is unique and takes place before the halving event. I remain optimistic that Bitcoin will likely rise to $100,000 or more by late 2024 or early 2025, once halving-induced scarcity builds and ETF inflows inevitably push the market higher.
In the meantime, it might be wise to grab some cheap altcoins before the next bullish phase. Of course the risk is significant. And you should be careful when allocating significant amounts to these cryptos. Still, the potential gains could be significant in the long run.
With this in mind, let’s look at three high-potential cryptocurrencies that could potentially achieve a 10,000% gain by the end of 2024.
Pyrin (PYR-USD)
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Pyrin (PYR-USD) is a fork of Kaspa (KAS-USD), which has achieved by far the most outstanding gains this cycle. The upward momentum shows no signs of abating. The price has recovered at the time of writing and has not made a deeper low in a long time.
However, Kaspa’s market capitalization is already at a breathtaking level $2.8 billion, and the upside potential is muted going forward. Pyrin could deliver multibagger profits and serve as a viable alternative for those looking for such returns.
Although I must point out that Pyrin’s performance over the past few weeks has been disappointing, the cryptocurrency has held steady recently. If the broader crypto market gains traction from here, it could bottom out and make impressive gains. Pyrin has smart contract support, a feature Kaspa lacks, and is an ASIC-resistant transaction network.
Banano (BAN-USD)
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On paper, banana (BAN USD) is a meme coin. However, it has intriguing features and an exceptionally active community that could lead to significant demand in the future. Banana is a fork project, more precisely a hard fork of Nano (XNO-USD). It has adopted many advantages of Nano’s peer-to-peer blockchain. This means there are no gas fees or taxes with Bananano and it is extremely fast.
Additionally, Banano is completely decentralized and has no central development team, which is a rarity in today’s crypto landscape. This aspect probably makes Banano one of the safest meme cryptos. Interestingly, computing power can be sold to the medical sector in exchange for Bananano, a process called “folding.” This use case alone makes it arguably the most useful meme coin, even surpassing some utility projects whose networks see little activity.
With a Market cap of just $8.4 millionIs it possible that Bananao will make gains of over 1,000% next offseason.
Blue Kirby (KIRBY-USD)
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I wrote about it Blue Kirby (KIRBY USD) quite often lately. However, you should be aware of the risks here. Unlike the other two cryptocurrencies, this cryptocurrency has no functionality. This is a pure meme cryptocurrency that I believe can deliver significant returns based on its current tokenomics setup.
Blue Kirby has one Market capitalization of around half a million at the time of writing. It is one of the most popular memecoins on the Fantom blockchain. This cryptocurrency experienced a slight “carpet pull” in March. However, token distribution has since been reorganized and currently appears to be healthy.
This crypto can deliver multibagger profits if Fantom (FTM USD) will launch during the next off-season or if it attracts enough attention from crypto whales. Regardless, it is a game of chance, much like the other two cryptos on this list, and you should treat it as such.
At the time of publication, Omor Ibne Ehsan did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.
