Reaching the $1 mark is an important psychological barrier that many investors view as a watershed moment for certain coins and tokens. With thousands of cryptos to choose from, we have established several key parameters to determine which are the most likely candidates.
We limited the search to cryptocurrencies that have never traded above $1with a price above $0.01 (to avoid obvious long shots), and that belonged to the 500 Largest Crypto Projects by Market Cap.
In the end, we settled on 3 cryptocurrencies that have the potential to reach $1 this year. We'll look at their chances in this article.
Top 3 cryptos currently eyeing $1
In the following sections, we will look at 3 crypto projects that have never reached the $1 mark but have all the necessary attributes to get there in the future.
1. Dogecoin
Dogecoin (DOGE), a notable name in the world of cryptocurrencies, is attracting attention as a potential candidate to cross the $1 threshold. Reflecting on its performance during the 2021 bull market, Dogecoin reached a peak value near $0.74, just below the coveted $1 mark. At its peak, Dogecoin's market valuation soared to a staggering $69.6 billion.
If Dogecoin hits the $1 mark, its market cap is expected to rise to $144.6 billion (assuming circulating supply does not change). This would position it as the third-largest cryptocurrency by market cap, surpassed only by industry leaders Bitcoin, with a staggering $1.39 trillion, and Ethereum, with a market cap of $434 billion. .
Dogecoin's journey toward the ambitious $1 target appears closely tied to the general enthusiasm around meme coins and the broader dynamics of cryptocurrency markets. Bitcoin's upcoming halving, coupled with the cryptos' historical rally pattern in the months following previous halvings, suggests a scenario in which Dogecoin could potentially reach or even surpass the $1 benchmark by 2024.
Current price | $0.171 |
Market capitalization | $24.36 billion |
Change needed to reach $1 | 485% |
Implied market cap at $1 per coin | $144.6 billion |
2. Kaspa
Kaspa (KAS) is making progress with a focus on high scalability and fast transaction processing. By adopting a blockDAG structure instead of conventional blockchain, Kaspa is carving out a niche for itself, promising faster block confirmations and improving the overall user experience.
Recently, KAS has seen a notable increase in interest, which could be partly attributed to the buzz around the launch of Bitcoin ETFs and anticipation around the upcoming Bitcoin halving. In February, Kaspa reached a major milestone, hitting an all-time high of $0.189. This high represents a substantial increase of 215% from the previous six months. Currently, KAS is trading at around $0.130, approximately 31% below its all-time high price. For KAS to reach the $1 mark, its current value would need to increase by more than 7, which implies a market capitalization of more than $23 billion.
Kaspa has a strong online community presence and a dedicated development team. These factors could play a central role in generating market interest and potentially driving the coin's value towards the $1 target.
Current price | $0.130 |
Market capitalization | $3.02 billion |
Change needed to reach $1 | 669% |
Implied market cap at $1 per coin | $23.2 billion |
3. Stellar
Stellar (XLM) is a decentralized open source framework that facilitates the exchange of digital currency for fiat currency. The platform is distinguished by its focus on fast, affordable and inclusive cross-border transactions, catering to both individual users and businesses.
As a well-established name in the crypto world, Stellar has maintained a favorable reputation over its ten years of existence. During its journey in the crypto markets, Stellar saw significant uptrends during the 2018 and 2021 bull runs, where XLM's value exceeded $0.60 each time, but did not break the $0.70 mark.
The expanding Stellar ecosystem, coupled with the growth of the broader crypto market compared to previous years, suggests strong potential for XLM to surpass its previous highs and possibly reach the $1 threshold during the next crypto rally of 2024. Although our Stellar prediction algorithm remains conservative, not predicting the token will reach $1 within the year, it still anticipates a notable high of around $0.73 in early 2025. This trajectory highlights progress constants and the potential of Stellar in the evolving crypto landscape.
Current price | $0.126 |
Market capitalization | $3.61 billion |
Change needed to reach $1 | 694% |
Implied market cap at $1 per coin | $28.7 billion |
Final Thoughts
Projects such as Dogecoin, Kaspa, and Stellar each possess distinct qualities that position them favorably to potentially surpass the $1 mark over the course of the year. Nonetheless, it is crucial to recognize the interconnected nature of the crypto market. The performance of these individual projects is closely tied to general trends in the crypto world, particularly the trajectory of Bitcoin, which shapes overall market trends.
If the broader crypto market experiences a slowdown, it becomes very difficult for the coins and tokens we highlighted to reach the $1 target. Their successes are not isolated but rather part of the larger and complex network of the cryptocurrency ecosystem, where market dynamics play a central role in determining their value and growth prospects.
If you want to learn more about other cryptocurrencies with high potential, we suggest you consult the weekly updated list of the best cryptocurrencies to buy.