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3 Coins to Buy for Under $0.5 in May 2024
Last week the cryptocurrency market experienced the Bitcoin halving event, where the supply of BTC was cut in half. This development makes Bitcoin hardly available on the market at a time when there is a huge demand for the cryptocurrency. Since demand for the cryptocurrency is high, the move could cause its price to sustainably rise in the indices in May 2024.
Read also: Cardano: How much can ADA be traded this May?
The entry of global institutional investors into the cryptocurrency market through Spot Bitcoin ETF can make BTC reach new heights. If Bitcoin climbs the charts, it will also push other major cryptocurrencies to strengthen and move in step with its price increase. In this article we will highlight the 3 best coins to buy in May 2024.
Read also: The Shiba Inu team estimates when SHIB could reach $0.01
Cryptocurrency: 3 Coins to Watch Below $0.5 in May 2024
1. VeChain (VET)
VeChain (VET) has been among the best-performing assets in the cryptocurrency market in the first quarter of 2024. VET is currently trading around the $0.038 mark and moves mostly sideways in the indices. It rose nearly 70% between January and March, riding the hype of Bitcoin’s halving event.
However, IFP has been declining in April this month and has barely moved up the charts in the last 30 days. Now that the BTC halving event is over, a spike in BTC price could catapult the VET in May 2024. The VET has more chance to rise in May 2024 as VeChain mostly moves in tandem with Bitcoin.
Read also: Settlement Issues Weigh on XRP: Will Ripple Reach $1 Sooner or Later?
2. Cardan (ADA)
The native token ADA, Cardano’s leading altcoin, is hovering around the $0.45 price range. ADA is receiving high trading volume this week, reaching $282 million. Cardano’s ADA price is consolidating and a rally from here could push the cryptocurrency above the $0.50 mark in May 2024.
3. Dogecoin (DOGE)
Billionaire Elon Musk may soon integrate Dogecoin as an official form of payment to allow customers to purchase Tesla cars. If the cryptocurrency markets recover, Dogecoin is the first to reach double digits and provide profits to investors. Dogecoin is mostly the sleeping giant of the cryptocurrency market and bounces back when the market turns green.