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The cryptocurrency market is full of opportunities for investors who are looking for low-cost coins with high potential, prompting a much-needed exploration of some of the top altcoins worth $0.05 worth watching.
VeChain (VET)
VeChain (VET), like the rest of the crypto market, saw a price collapse this week. The token initially rallied above the pivotal $0.035 and $0.036 price thresholds on Jan. 1 amid bullish momentum. However, this momentum was sooner snuffed out by the bears.
The escalating FUD pushed VET below the $0.035 and $0.036 territories, as the altcoin dropped to a low of $0.02901 on Jan. 3. The last time VeChain saw the $0.029 zone was on Dec. 18, 2023 when it rallied past the price territory. VET now changes hands at $0.02932, with a 5.57% drop over the past 24 hours.
Market watchers argue that the current downturn has presented an opportunity to procure VeChain below the $0.030 price level, making it an interesting token to watch. Despite the downtrend, VET continues to trade above the 50-day EMA ($0.02847) and the 200-day EMA ($0.02060).
Shiba Inu (SHIB)
Shiba Inu (SHIB) has continued to command increased social activity due to its teeming community, making it an interesting token to look out for. However, the asset was also caught in the crossfire between the bears and the bulls on Jan. 3, closing the day with an intraday decline of 9.38%.
An attempt at recovery ensued the next day, but the 4.39% increase was not sufficient to help it reclaim the $0.000010 price threshold. SHIB now trades for $0.00000960, holding above the support at $0.00000957. A sharp decline from this spot could lead to a drop to $0.00000907.
SHIB has no substantial resistance point between its current price level and the $0.00001 threshold, with the next pivotal roadblock currently sitting at $0.00001007 (Fib. 0.618). As a result, a resurgence from the broader market could help the token recover the much-coveted $0.00001 level.
ApeNFT (NFT)
ApeNFT (NFT) was one of the major beneficiaries of the market uptrend last month. The altcoin surged 31.27% on Dec. 6, 2023, eventually hitting a high of $0.0000004707 and demonstrating its ability to record massive price gains. NFT has continued to consolidate since the December 2023 surge.
The recent consolidation has resulted in the formation of a bullish pennant, indicating an imminent price explosion. This looming trend makes ApeNFT an asset to watch out for in the near future. The token showed more resilience against the recent market-wide drop, with a meager 5% drop on Jan. 3.
While ApeNFT is down 2% today at a current price of $0.0000004161, it has defended the $0.00000041 and $0.00000040 price thresholds fervently, with its next support sitting at $0.0000004068. The asset would need to conquer the $0.0000004185 resistance to reclaim the $0.00000042 zone.
VeThor (VTHO)
VeThor (VTHO) is another altcoin under $0.05 worthy of note, as it rides on the bullish sentiments surrounding its sister token VeChain. VTHO had been on an impressive uptrend over the past three months, rallying 132% from $0.001393 in November 2023 to $0.003242 in December 2023.
This value marked the altcoin’s highest price since May 2022. However, following the upsurge, VTHO met a roadblock and has continued to consolidate since mid December. Interestingly, this consolidation has also resulted in the formation of a bullish pennant for the token.
The latest market collapse had minor effects on VTHO, which only dropped 4.72% on Jan. 3. The asset recovered all the losses of Jan. 3 with an impressive 6.29% rise the next day. Despite two consecutive daily losing candles, VeThor’s outlook remains bullish, with a current trading price of $0.002269.
Snek (SNEK)
Snek (SNEK), the Cardano-based memecoin, is worthy of a place on this list due to its promising price performance since last month. At the current price of $0.001230, SNEK is up by a whopping 782% since October 2023, making it one of the best performers in this pre-bull run phase.
Despite being a memecoin, SNEK has navigated the latest market turbulence quite well, a trend rarely observed with tokens in the memecoin category. The asset still trades way above its 200-day EMA ($0.0005837) and its 50-day EMA ($0.001143), indicating bullish momentum in the short and long terms.
SNEK has defended the support at the mid-December lows of $0.001175, seeking an avenue to push through to the $0.001557 territory. A renewal of social mentions as well as increased market demand could trigger enough uptrend for the token during a sufficient market resurgence.
Coti (COTI)
Coti (COTI) was one of the biggest victims of the recent market slump, with an 11.52% intraday loss on Jan. 3. However, this ill luck might be the trend the altcoin requires for a substantial price explosion.
Notably, following the collapse, COTI slipped into oversold territories. The asset’s Commodity Channel Index (CCI) dropped to -134 and its Relative Strength Index (RSI) fell to 42.65. The combination of these metrics indicate that the drop has pushed COTI into oversold regions, and the asset could be due for a price reversal.
Nonetheless, Coti has defended the $0.060 price level, recovering from a low of $0.06000 on Jan. 6. Trade volume has slumped 20.74% to $4,605,051, as market participants exercise caution. The asset, currently trading for $0.0629, is looking to leverage a renewal of investor interest for its next leg up.
Kin (KIN)
Kin (KIN) has not performed as well as most of the altcoins on this list, but its potential for growth remains high. The asset had rallied 62% in 24-hours to a high of $0.00002480 on Dec. 2 before facing major resistance that resulted in a retracement.
The retracement persisted into the new year, with the token recording intermittent declines and upswings since December 2023. Despite its downtrend coinciding with the latest market-wide onslaught, Kin only dropped 3.48% on Jan. 3, exhibiting more resilience than most crypto assets.
Amid the downward spiral, KIN’s daily RSI has slipped to 37.85, confirming its oversold position. The asset’s volume has dropped 16.50% over the past 24 hours to $310,846, indicating a collapse in interest. KIN must seal a close above the $0.00001472 level to have a shot at a recovery campaign.