The crypto market has been in a state of flux over the past couple of months, with many high-potential cryptos bearing the brunt of the decline. However, investors need not be concerned, as Bitcoin (BTC-USD) has barely dipped from its peak. While it is down nearly $12,000 from its all-time high, this decline is minuscule in percentage terms versus historical trends.
Bitcoin has experienced 15-30% dips multiple times during previous bull runs before reaching new heights in those cycles. The current bull run is unique, occurring before the halving event. I remain optimistic that Bitcoin will likely soar to $100,000 or higher by late 2024 or early 2025 once scarcity from the halving builds up and ETF inflows inevitably drive the market higher.
In the meantime, it may be prudent to scoop up some cheap altcoins before the next upward leg. Of course, the risk is considerable. And you should exercise caution when allocating meaningful amounts to these cryptos. Nevertheless, the potential gains could be substantial in the long run.
With that in mind, let’s look into three high-potential cryptos that could potentially yield 10,000% gains by the end of 2024.
Pyrin (PYR-USD)
Pyrin (PYR-USD) is a fork of Kaspa (KAS-USD), which has by far delivered the most stellar gains this cycle. The bullish momentum showing no signs of abating. The price has rebounded as of writing and has not made a lower low in a very long time.
However, Kaspa’s market capitalization is already at a staggering $2.8 billion, and the upside potential is muted going forward. Pyrin could deliver multibagger gains and serve as a viable alternative for those chasing such returns.
While I must caution that Pyrin’s performance has been disappointing over the past few weeks, the crypto has been holding steady recently. It could bottom out and deliver impressive gains if the broader crypto market gains traction from here. Pyrin boasts smart contracts support, a feature lacking in Kaspa and is an ASIC-resistant transaction network.
Banano (BAN-USD)
On paper, Banano (BAN-USD) is a meme coin. However, it possesses intriguing features and an exceptionally active community that could drive substantial demand going forward. Banano is a fork project, specifically a hard fork of Nano (XNO-USD). It has inherited many of the benefits of Nano’s peer-to-peer blockchain. This means Banano has zero gas fees or taxes and is extremely fast.
Moreover, Banano is fully decentralized, with no central development team, a rarity in today’s crypto landscape. This aspect arguably makes Banano one of the safest meme cryptos. Interestingly, you can sell computing power to the medical sector in exchange for Banano, a process termed “folding.” This use case alone arguably makes it the most useful meme coin, surpassing even some utility projects that barely see any activity on their networks.
With a market cap of just $8.4 million, Banano delivering 1,000%-plus gains is possible during the next altseason.
Blue Kirby (KIRBY-USD)
I have been writing about Blue Kirby (KIRBY-USD) quite a lot recently. However, you should be aware of the risks here. Unlike the other two cryptos, this crypto has no functionality. This is purely a meme crypto that I think can deliver significant returns due to its current tokenomics setup.
Blue Kirby has a market cap of around half a million as of writing. It is one of the more popular memecoins on the Fantom blockchain. This crypto saw a soft “rug pull” back in March. But, its token distribution has since been reorganized and seems healthy right now.
This crypto can deliver multibagger gains if Fantom (FTM-USD) takes off during the next altseason or if it finds enough attention from crypto whales. Regardless, it is a gamble, much like the other two cryptos on this list, and you should treat it as such.
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
