Here are the 7 best altcoins under $0.05 to watch

The cryptocurrency market is full of opportunities for investors looking for low-cost coins with high potential, prompting a much-needed exploration of some of the best $0.05 altcoins worth a look.

Vechin (veterinary medicine)

VeChain (VET), like the rest of the cryptocurrency market, saw a price collapse this week. The token initially rose above the pivotal price thresholds of $0.035 and $0.036 on January 1st amid bullish momentum. However, this momentum was quickly extinguished by the bears.

Rising FUD pushed VET below the $0.035 and $0.036 areas, as the altcoin fell to a low of $0.02901 on January 3. The last time VeChain saw the $0.029 area was on December 18, 2023 when it crossed the price zone. Veterinarian Dr It is now trading at $0.02932, with a decline of 5.57% in the past 24 hours.

Market watchers argue that the current downturn has presented an opportunity to buy VeChain at a price below $0.030, making it an interesting coin to watch. Despite the downtrend, VET continues to trade above its 50-day moving average ($0.02847) and 200-day moving average ($0.02060).

Shiba Inu (SHIB)

Shiba Inu SHIB has continued to dominate increasing social activity due to its busy community, making it an interesting symbol to look out for. However, the asset was also caught in the crossfire between the bears and the bulls on January 3, closing the day with an intraday decline of 9.38%.

This was followed by an attempt to recover the next day, but the 4.39% increase was not enough to help it regain the price threshold of $0.000010. Gray It is now trading at $0.00000960, holding above the support at $0.00000957. A sharp decline from here could lead to a drop to $0.00000907.

SHIB does not have any major resistance point between its current price level and the $0.00001 threshold, with the next pivot barrier currently at $0.00001007 (Fib 0.618). As a result, a return from the broader market could help the token reclaim the much-desired $0.00001 level.

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Appenft (NFT)

ApeNFT (NFT) was one of the main beneficiaries of the market’s bull run last month. The altcoin rose 31.27% on December 6, 2023, eventually reaching a high of $0.0000004707 USD and showing its potential to record massive price gains. NFTs have continued to consolidate since the December 2023 surge.

The recent consolidation has led to the formation of a bullish flag, indicating an impending price explosion. This looming trend makes… ApeNFT An asset to watch out for in the near future. The token has shown greater resilience in the face of recent market-wide declines, with a slight 5% decline on January 3.

While ApeNFT is down 2% today at the current price of $0.0000004161, it has strongly defended the $0.00000041 and $0.00000040 price thresholds, with its next support at $0.0000004068. The asset will need to overcome the $0.0000004185 resistance level to regain the $0.00000042 area.

VTHO

And he gets angry (VTHO) is another altcoin under $0.05 worth noting, as it builds on the bullish sentiment surrounding its token sister VeChain. VTHO has been on an impressive uptrend over the past three months, rising 132% from $0.001393 in November 2023 to $0.003242 in December 2023.

This value represents the highest price of the altcoin since May 2022. However, after the sudden rise, VTHO hit a roadblock and has continued to consolidate since mid-December. Interestingly, this consolidation also led to the formation of a bullish flag for the token.

The recent market crash had minor impacts on… Phtho, which fell by only 4.72% on January 3. The asset regained all of its January 3 losses with an impressive 6.29% rally the next day. Despite two consecutive daily losing candles, VeThor’s outlook remains bullish, with a current trading price of $0.002269.

Snake (Snick)

Snake (SNEK), the Cardano-based memecoin, deserves a place on this list due to its promising price performance since last month. At the current price of $0.001230, SNEK is up a whopping 782% since October 2023, making it one of the best performing coins in the pre-bull phase.

Although it is a meme currency, Snake It has weathered the recent market turmoil well, a trend rarely seen with tokens in the memecoin category. The asset is still trading well above its 200-day moving average ($0.0005837) and its 50-day moving average ($0.001143), suggesting bullish momentum in the short and long term.

SNEK defended support at the mid-December lows at $0.001175, looking for a way to push into the $0.001557 region. The renewal of social signals as well as increased market demand can lead to enough upside for the token during a sufficient market recovery.

Kuti (kuti)

Coti (COTI) was one of the biggest victims of the recent market downturn, with an 11.52% intraday loss on January 3. However, this bad luck may be the trend it takes for the altcoin to achieve a major price explosion.

It is worth noting that after the collapse, Kuti It slid into oversold areas. The Commodity Channel Index (CCI) for the asset fell to -134 and the Relative Strength Index (RSI) fell to 42.65. The combination of these metrics suggests that the decline has pushed COTI into oversold territory, and the asset may be due for a price reversal.

However, Coti defended the price level at $0.060, rebounding from the low of $0.06000 on January 6. Trade volume fell 20.74% to $4,605,051, as market participants remain cautious. The asset, which is currently trading for $0.0629, is looking to benefit from renewed investor interest in the next phase.

ken (ken)

Kin (KIN) has not performed as well as most of the altcoins on this list, but its growth potential is still high. The asset rose 62% in 24 hours to a high of $0.00002480 on December 2 before encountering significant resistance that triggered a bounce.

The rebound has continued into the new year, with the coin recording intermittent declines and ascents since December 2023. Despite its downtrend coinciding with the most recent market-wide onslaught, Kin’s price fell just 3.48% on January 3, showing greater resilience than most crypto assets.

In the middle of a downward spiral, Daily RSI for KIN It fell to 37.85, confirming its oversold position. The asset’s volume fell by 16.50% over the past 24 hours to $310,846, indicating a collapse in interest. KIN must close the closing price above the $0.00001472 level to be able to launch a recovery campaign.