Crypto experts from Gamdom have revealed their five fastest-growing cryptocurrencies of 2024.
Gamdom identifies that increasing adoption, high trading volume, positive market sentiment, and scarcity are four of the main factors that indicate a rising coin. While it is crucial to carry out your own research, invest smartly and be sure to collate a diverse portfolio, these are the coins the experts currently identify as the fastest growing in 2024.
Dogwifhat (WIF)
Dogwifhat (WIF) is the number one growing coin, according to Gamdom. A meme coin released on the Solana (SOL) blockchain in November 2023, it was inspired by the trendy meme depicting a Shiba Inu dog wearing a pink-knitted hat.
Instead of a centralised authority owning or controlling the network, WIF holders control it. With over 998.9 million tokens in circulation, WIF boasts a limited supply.
WIF exemplifies the community-oriented meme coin ideal, which made it appealing for investors looking for coins to invest in.
Polygon (MATIC)
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By GlobalDataThis is a blockchain platform that helps other blockchain networks work better together by acting as a bridge between them, more easily allowing the sharing of information and processing of transactions.
Polygon works with the Ethereum (ETH) blockchain, one of the most popular, but one that sometimes gets crowded. MATIC provides a way for Ethereum based projects to run more efficiently and with lower fees. This has made the coin popular with developers building new crypto projects on Ethereum.
Solana (SOL)
Solana’s lightning-fast blockchain leaves a lasting impression and allows you to settle in-store and online payments in a split second. This means your stablecoins will produce a high yield in little time. Solana’s lower fees also make accepting stablecoin payments exceptionally easy for online store operators.
Solana’s resistance to censorship allows the completion of all valid transactions, removing the need for middlemen, and allowing buyers and sellers worldwide to use it directly for payment processing.
Pepe (PEPE)
This is a meme coin based on the viral Pepe the frog. It quickly became one of the most traded coins from its April 2023 launch. Pepe is built on the Ethereum blockchain and has a maximum supply of 420.69 trillion tokens. An early plan for the coin’s deflationary mechanism involved burning a small fraction of tokens with every transaction so that their value would rise gradually.
Because of the market’s good sentiment towards meme coins in general, PEPE has been showing positive price action and has established itself as one of the leaders in the meme coin market.
Ripple (XRP)
Ripple is the way to go for fast and cheap cross-border money transfers as it facilitates the exchange and transfer of various currencies with ease. Each transaction costs approximately a mere $0.0002.
This is why many banks and financial institutions are interested in using the Ripple network. With banks and businesses interested in using the network, demand for XRP continues to grow, increasing its market cap in 2024.
Gamdom founder, Felix Römer, commented on the revealed information: “While coin growth is always fluid, there are, of course, indicators of the likely path for certain coins. Traders are encouraged to conduct their own research, but we’ve identified these as the coins to watch this year and hold confidence in their performance.”
