Up-and-coming cryptos to buy are arguably even more speculative than the crypto sector overall. For example, the cryptos to buy listed below could fall or they could rise but whichever way they go, they’re likely to move in big jumps. So, anyone from casual observers to crypto investors seeking risk might find this article of interest. These are emerging names in crypto for the most part. Potential rug pulls may exist. Again, beware. A few well-known names show up as well and have clear upside potential with less overall risk.
Cryptos to Buy: Pepe (PEPE-USD)
Pepe (PEPE-USD) continues the tradition of meme coins that became well entrenched during the pandemic with Dogecoin (DOGE-USD). Pepe the Frog first emerged in a 2005 comic called Boy’s Club. By 2015, Pepe the Frog had become one of the most recognizable memes. It also became associated with alt-right movement. Creator Matt Furie sued organizations in connection with that use. The symbol was also used in the Hong Kong protests whic Furie welcomed.
In any case, Pepe is among the most well-known meme characters. Pepe coin however, is very new having been released in mid-April 2023. The, after 10 days of relative quiet, PEPE took off surging by 5,700% from initial coin offering (ICO) to May 5.
That means the hypothetical investor who speculatively invested $100 in PEPE at ICO has $5,800 a few weeks later. PEPE has since fallen back down but maintains a market capitalization of $555 million. Since PEPE trades in much the same way that DOGE and SHIB do, don’t be surprised to see big gains and equally rapid losses as it finds its base over the coming months.
Cryptos to Buy: ArbDoge AI (AIDOGE)
ArbDoge AI (AIDOGE-USD) is another one of the most interesting cryptos to buy that’s gaining a lot of investor attention. It was released via airdrop April 15 and promptly increased in value by 1,000% by the beginning of May.
As enticing as those figures may seem, AIDOGE remains highly suspicious as an investment. Early reports suggest that withdrawal of AIDOGE in UNISWAP may be impossible. So those massive gains may be a false flag if there is indeed little to no liquidity. If these reports are indeed true then expect further reports of individuals whose capital remains locked up and gains inaccessible.
ArbDoge AI trades for $0.00000000029 at the time of writing. That equates to a 210% return since its ICO. Certainly very impressive when compared to stock market numbers but highly suspicious given the liquidity concerns. Tread lightly because there’s a reasonable chance that the usage of ‘AI’ and ‘Doge’ were done to drum up demand substantiated by nothing.
Cryptos to Buy: Polygon (MATIC-USD)
Polygon (MATIC-USD) is much better known than the previous entrants on this list. It gained notoriety early in the pandemic and went parabolic in price moving from 2 cents to $3 in 2021. That movement was catalyzed by Polygon’s utility in Ethereum (ETH-USD) scaling.
Ethereum scaling simply means increasing the speed at which transactions occur through the Ethereum platform. Ethereum is the dominant network executing smart contracts as a non-centralized authority. Although ETH quickly cornered the smart contract market and dominates blockchain it remains slow. Transaction speeds continue to be slow even following ‘the Merge’.
That means Polygon and its Z rollup chains should again be relevant at some point. Z rollup chains act faster and cost less in fees than ETH thereby increasing ETH’s usability. MATIC currently trades for $0.84 making it relatively inexpensive for investors who want to speculate for the potential quick returns. Yet, at the same time, MATIC isn’t trading at fractions of a penny as so many purely speculative vehicles do.
The Graph (GRT)
The Graph (GRT-USD) is a project that holds promise that is easy to understand once you understand a little bit about the project. It allows developers to access blockchain data without relying on centralized intermediaries, for one. That opens all kinds of possible developmental use cases generally.
And two, The Graph uses AI to query and index data ina fast, efficient manner. It combines decentralized blockchain data access and AI which is bound to attract a lot of attention as the combination of the two suggests massive growth potential. The Graph’s application programming interfaces (APIs) are being used to build DApps with social, governance, defi, and marketplace utility. Theoretically, the AI aspect of The Graph makes its potential exponentially greater. Practically, we don’t know whether that will actually materialize.
But The Graph trades for 11 cents so like many other early-stage, speculative cryptos, investors can control a lot for a relatively small amount of money.
XRP (XRP-USD) is perhaps the most important up-and-coming crypto for the month of May. Ripple is expected to prevail in its court battle against the Securities and Exchange Commission (SEC) alleging that Ripple offered its XRP coin as a security.
A judgment will happen but no one knows when exactly. Instead, the current expectation is that Ripple will prevail and prevail some time soon. If and when XRP is declared to have been a token all along, it will rise in price dramatically. That has investors giddy with excitement at easy to capture returns. Those same investors also wonder just how strong those returns could be.
Prognostication from late last year set that price range being as high as $3.84. XRP currently costs $0.41 making the potential upside appealing. Quick gains are a near certainty. It’s likely a matter of waiting patiently for what is expected to be a win for Ripple. The question is whether those quick gains will remain or quickly dissipate as traders liquidate their positions following a judgment to turn paper gains into real world gains.
On the one hand, Injective (INJ-USD) bothers me for the same reason so much f the crypto space bothers me: The project description is filled with jargon and references to obscure projects like CosmWasm that do nothing for its credibility.
On the other hand, Injective is being developed with finance applications in mind. Real-world utility is going to mint real-world millionaires over time in the crypto space. There is no way that over the long run that the likes of Dogecoin will mint more millionaires than the Cardanos of the crypto world.
So, Injective, although relatively unproven, continues to hold a lot of promise throughout May and over the long term. The DApps being built on Injective cover things like lending, derivatives exchanges, and prediction markets among others. All of which have common utility in the transaction of real money. And the shuffling of digital dollars will be as profitable as the shuffling of rela dollars has been.
Numeraire (NMR-USD) is an up-and-coming crypto to keep an eye on for many of the same reasons as Injective. The platform is designed to host tournaments where data scientists create models for financial markets.
Again, financial and economic use cases hold massive promise overall for the development of blockchain and are a reasonable focal area for investors.
If Numeraire successfully builds a platform where teams of data scientists compete to create the best financial market models using blockchain, it will become wildly valuable. Imagine a Shark Tank scenario in which promising AI applications are judged on their merits and receive funding and resources for further development.
At the same time, Numeraire has existed since 2015 and has thus far been used for the creation of machine learning models and the improvement of their predictive reliability. The token is currently being used to reward data scientists whose models perform well in stock market-based trading competitions. The idea is that tokens reward those who can provide winning strategies into its machine learning database to improve predictive models for the markets.
On Low-Capitalization and Low-Volume Cryptocurrencies:
InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Alex Sirois did not have (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.