While giants like Bitcoin (BTC) and Ethereum (ETH) dominate the headlines, the cryptocurrency market remains rich with untapped potential, with several altcoins trading in the red and positioning themselves as compelling opportunities this month
Finbold explored the market to find opportunities trading under $1 and showing signs of potential short-term growth heading into October. Here are the most notable contenders.
Dogecoin (DOGE)
Dogecoin (DOGE) is currently the eighth-largest cryptocurrency, with a market cap of $32.23 billion and a circulating supply of 141.08 billion tokens. While still far from its all-time high of $0.7376 in May 2021, it is up over 113% over the past year, trading at $0.2330 at the time of writing.
Dogecoin market cap. Source: CoinMarketCapThe most famous meme coin is once again in the spotlight after recent technical indicators pointed to the possibility of a major rally. The price, down 17% on the weekly chart, is also a potential buy opportunity.
Namely, analyst Javon Marks noted that DOGE is flashing similar signals to past rallies, suggesting a breakout above key resistance levels above $0.2410 could soon lead to a price of at least $0.73905.
Other projections highlight the same pattern, suggesting that the current structure may support an 800% surge. The price action comes as Dogecoin consolidates after this week’s broader crypto market correction, but whale activity has also surged. For instance, analyst Ali Martinez reported that whales accumulated more than 2 billion DOGE in the past 24 hours, signaling aggressive dip-buying and positioning for a potential breakout.
With technicals on its side and whale accumulation all converging following the recent launch of REX-Osprey’s record-breaking exchange-traded fund (ETF), Dogecoin’s next move could indeed be pivotal.
TRON (TRX)
TRON (TRX) currently enjoys a market cap of $31.63 billion, and with a circulating supply of 94.66 billion TRX, it trades at $0.3342 at the time of writing, up over 122% over the past year.
TRON market cap. Source: CoinMarketCapThe cryptocurrency stands out as a major smart contract blockchain thanks to its deep integration with stablecoins. In fact, it recently managed to surpass Ethereum in terms of total Tether (USDT) transactions this month, moving 62 billion tokens in a single day on September 1.
Moreover, TRON now processes roughly $24 billion in daily transfer value, outpacing Ethereum’s $20 billion. The network also boasts over 2.5 million daily active addresses and more than 11 billion transactions processed to date. This combination of high user activity and dominance in stablecoin liquidity positions it as a potential dark horse in the next leg of crypto adoption.
VeChain (VET)
VeChain (VET) has a market cap of $31.63 billion, the lowest market cap among our picks. With a circulating supply of 85.98 billion VET, it trades at $0.0222 at the time of writing, down 12% this week and presenting a potential buy-the-dip opportunity.
VeChain market cap. Source: CoinMarketCapDespite the lower market cap, however, VeChain remains a compelling sub-$1 altcoin thanks to its emphasis on real-world adoption. Thanks to its partnerships with companies such as BMW (FWB: BMW), the crypto promises tangible business value.
Accordingly, renowned crypto strategist and analyst Michaël van de Poppe added VET to his watchlist on September 24, describing its current structure as a “beautiful setup” for a potential breakout after months of consolidation.
The analyst sees VeChain trading in what he considers an attractive accumulation zone, with the 20-week moving average near $0.025 serving as the key resistance. A decisive breakout above that level, he argues, could spark a run resembling past cycles that have resulted in 200% upsides.
Finally, van de Poppe also pointed to macro headwinds as an opportunity in disguise, as macroeconomics have been “disastrous” in the past six months, creating a big gap between the actual value and the negative market sentiment.
Featured image via Shutterstock
Source: https://finbold.com/3-cryptocurrencies-to-buy-under-1-in-october/
