For those in the crypto investment space, finding sub-$1 opportunities with significant growth potential is a key strategy. Among the popular options, Dogecoin and Kaspa are often highlighted as potential candidates to reach the $1 mark.
However, industry experts are increasingly focusing on the newly-launched iGaming and GambleFi protocol, Rollblock, as a strong contender to be the next cryptocurrency to hit $1. With token prices currently at just $0.022, some analysts suggest that Rollblock could even surpass the predicted performance of Dogecoin in 2024.
Can Dogecoin Reach $1?
Dogecoin experienced a significant surge in 2021, reaching an all-time high of $0.73, but it fell short of the $1 milestone. Since then, Dogecoin has seen a decline of 85.5% from its peak, trading around the $0.10 mark at the time of writing.
For Dogecoin to reach $1, it would require a massive influx of investment. Given the stiff competition from newer meme coins, the likelihood of Dogecoin hitting $1 in 2024 appears slim. Investors might find it challenging for Dogecoin to even approach its previous highs.
Kaspa’s Potential to Reach $1
Kaspa, a Layer 1 platform, saw a dramatic rise to new all-time highs of $0.20 in early August, even as the broader market faced corrections. Despite these challenges, Kaspa has shown resilience, trading just below $0.17, which is 19% off its ATH at the time of writing.
With its innovative BlockDAG technology, Kaspa could still have the potential to reach $1, especially if the next bull market materializes.
Rollblock: The Best Bet to Break $1 by Year-End
The new GambleFi protocol, Rollblock, stands out as one of the most promising sub-$1 investment opportunities. Early investors have already seen a 120% gain as the token price increased from $0.01 to $0.022 during the presale, which is currently in its fifth stage. With more price increases expected before the token is listed on exchanges, there is still significant upside potential for presale participants.
Among the three cryptocurrencies discussed, Rollblock appears to have the strongest narrative to reach $1. The protocol aims to revolutionize the $450 billion gambling industry by bringing it into the Web3 space, offering the first no-KYC iGaming, P2E, and GambleFi platform on Ethereum. The native token, $RBLK, is central to the GambleFi ecosystem.
In addition to being used for wagering on casino games and sports betting, $RBLK can be staked for high APYs and provides holders with a share of the casino’s profits. This revenue-sharing model will be distributed as a weekly dividend, offering additional incentives for investors to hold the token.
Rollblock has already raised over $2.6 million, indicating the potential for a significant price increase. For those who missed out on Dogecoin or Kaspa, Rollblock could be the next opportunity for substantial gains in 2024.
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Over the past year, we’ve become quite familiar with Kaspa’s bullish momentum, so it’s understandable that traders feel uneasy when the price isn’t climbing.
In the last 30 days, the KAS price has seen a modest increase of 4%, now hovering just below $0.17. However, this slight uptick doesn’t capture the full picture.
Elite crypto trader Alan Santana recently shared a Kaspa price analysis, cautioning about a potential 49% price drop.
Kaspa Chart Breakdown
Santana’s analysis suggests a challenging short-term outlook for Kaspa. He remarked, “Here we have the long-term chart for Kaspa. This is the worst month so far.”
At the top of the chart, there’s a red line that has been a significant resistance level for KAS. It acts like a ceiling, preventing the price from breaking through. Each time KAS attempts to surpass this level, it gets pushed back down.
But that’s not the only concern. The blue lines on the chart, which were expected to act as support levels where buyers typically intervene, have been breached. It’s akin to watching a high-wire act where the safety net has been removed.
Now, let’s discuss those candles. July’s candle closed as what traders refer to as a “hammer.” While that might sound positive, like it’s “hammer time” for the bulls, it’s actually a warning sign when it appears after a prolonged uptrend. It often indicates that the uptrend might be nearing its end. August isn’t looking any better, with the red candle signaling a potential exit from the bull market.
The trading volume in August has surged, reaching levels not seen since last December. High volume on a bearish candle is like hearing thunder after seeing lightning—it’s a sign that a storm, possibly a wave of selling, is on the horizon.
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Crypto Alen recently explored the topic of how many Kaspa (KAS) tokens might be sufficient to achieve financial freedom. He particularly focused on whether holding 100,000 KAS tokens could provide the desired financial outcomes during the upcoming bull run.
At the time of his analysis, Kaspa was priced at 17 cents, with a market cap hovering around $4.1 million. Alen pointed out that the adequacy of 100,000 KAS tokens largely depends on an individual’s personal circumstances.
He argued that the critical factor isn’t just the quantity of tokens one holds but also the stage of life the holder is in. In countries where the cost of living is relatively low, cashing out a few hundred thousand dollars could be life-changing.
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However, in high-cost cities like New York, even $300,000 to $500,000 might not stretch as far.
Kaspa’s Potential ROI
Alen noted that if Kaspa is just one of several assets in a diversified portfolio, the returns from 100,000 KAS tokens might not significantly impact overall wealth. But if Kaspa is the primary investment, the scenario becomes more intriguing.
He speculated that if Kaspa reaches $3 during the bull run—a scenario he considers quite plausible—100,000 KAS tokens would equate to $300,000. If the price climbs to $5, that would amount to half a million dollars.
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Alephium’s ALPH surged by 13% today, standing out in an otherwise uneventful day for crypto traders. This project brings substantial utility to the table and is the closest match we’ve found to Kaspa so far.
With a current market cap of just $162 million, ALPH still has significant growth potential.
The Utility Behind Alephium
So, what makes Alephium unique?
Alephium utilizes an innovative sharding technique known as BlockFlow, which divides data into smaller segments or shards. This allows for parallel transaction processing, potentially increasing throughput to over 10,000 transactions per second (TPS), a considerable improvement over Bitcoin’s 7 TPS.
The platform employs the Unspent Transaction Output (UTXO) model, similar to Bitcoin, enhancing both security and efficiency in token transfers. This method enables layer-1 scalability while maintaining high programmability, ensuring that token transactions don’t require additional approval.
Alephium’s consensus mechanism, POLW, adjusts mining difficulty based on network conditions, significantly reducing energy consumption compared to traditional proof-of-work systems. This approach maintains security while using much less energy than Bitcoin.
The platform also features its own virtual machine, Alphred, along with the Ralph programming language. This setup simplifies smart contract development, particularly for decentralized finance (DeFi) applications, addressing common issues found in existing smart contract platforms.
Given these features, it’s evident why ALPH is a major project in the making, with the potential to become a $Billion+ market cap coin, similar to Kaspa.
PandaWorld Meme Coin: A Utility-Driven Alternative
For those looking for an alternative to “utility” projects, PandaWorld Meme Coin presents an intriguing option. This meme coin comes with real utility and is currently in presale, having raised over $112,000.
PandaWorld integrates gaming, online casinos, and a content platform within its ecosystem, distinguishing it from typical meme coins. It employs a Play-to-Earn (P2E) model where users can earn PADW tokens by participating in games. Players can stake these tokens for additional rewards.
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Kaspa (KAS) is nearing a significant resistance level, as highlighted by Crypto Chrys, a prominent analyst. In a recent YouTube video, the analyst provided an in-depth look at Kaspa’s current market standing and its potential for future growth.
Despite experiencing a 16.92% decline, Kaspa continues to hold a strong global ranking, even in the absence of major exchange listings. Crypto Chrys identified the 17.5 cents mark as a critical resistance level for Kaspa.
The analyst suggests that surpassing this level could initiate a bullish trend, potentially leading to swift price increases. A daily close above 18 cents could indicate a “moonshot” scenario, with the price likely to rise further.
Crypto Chrys advises closely watching this range for any potential breakouts.
Network Strength and Hash Rate
Kaspa’s network strength is showing encouraging signs. The hash rate has surged to nearly 947 PH/s, reflecting increased network security and growing confidence among miners. This rise is seen as a bullish signal, with the 1,000 PH/s milestone within reach.
The upcoming reduction in mining difficulty, expected in the coming days, could further influence Kaspa’s market dynamics. This event could impact the supply side and potentially affect price movements.
Bitcoin’s Influence and Market Sentiment
Crypto Chrys also emphasized the interconnected nature of the crypto market. Bitcoin’s performance could have a significant impact on Kaspa’s price trajectory.
As retail investors grow bearish on Bitcoin, any stabilization or upward movement in Bitcoin’s price could benefit Kaspa.
The analyst views Kaspa as a potential “Bitcoin 2.0,” citing its faster transaction speeds and lower costs. This positioning could attract investors seeking innovative blockchain solutions.
Addressing the key question, Crypto Chrys explains that whether 5,000 or 10,000 Kaspa is “enough” depends on an individual’s financial situation.
For those with limited resources, 5,000 Kaspa might represent a portion of their portfolio, providing some exposure without overextending financially.
Conversely, wealthier investors might see this amount as a starting point, potentially acquiring more to maximize future gains. The video underscores the importance of approaching crypto investments with a long-term perspective.
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The KAS price experienced a slight increase of 2.5% this week, pushing Kaspa above the $0.17 threshold.
While the broader market showed signs of recovery from earlier downturns, Kaspa’s performance deviated from the general trend, a recurring pattern observed throughout this bull run.
YouTuber “Crypto ZX” shared his latest outlook on Kaspa in a recent video. He noted that Bitcoin’s rising dominance has contributed to Kaspa’s price decline, as funds often shift from altcoins to Bitcoin during such periods.
Since early August, Kaspa has faced challenges in breaking through a significant resistance level at $0.173, despite multiple attempts. A successful breakout above this level could potentially lead to substantial price movement.
Technical Analysis and Market Trends
Kaspa briefly surpassed its key resistance level (around $0.17) but was unable to sustain the momentum, leading to a pullback. However, the previous resistance level now seems to be acting as support, which could be a positive indicator for future price movements.
The overall trend for Kaspa remains upward on both daily and weekly charts. The technical setup is considered strong, with potential for further gains if key resistance levels are breached.
There is speculation that Kaspa’s absence from many centralized exchanges might be due to its smart contracts not being launched yet. Although Kraken has included Kaspa in its roadmap, no official listing has occurred so far.
Crypto ZX advises against directly comparing Kaspa to major projects like Solana, Ethereum, or Cardano. He emphasizes that while Kaspa shows potential, it still lacks the widespread utility and adoption of these larger networks.
Established projects like Ethereum, Solana, and Cardano have built utility and large communities over the years, with extensive ecosystems, many developers, applications, and active users. For example, Ethereum is a leading platform for decentralized applications (dApps), smart contracts, and DeFi, while Solana is known for its high throughput and low transaction costs.
Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
