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The cryptocurrency market has been having a good last quarter of 2021. Many popular cryptocurrencies have edged towards new highs, while some are still creating new all-time highs. November has also started with a lot of enthusiasm, and some crypto coins are showing signs of having major price actions towards the end of the year.
Some of the top 5 new cryptocurrencies that are showing signs of exploding in November 2021 include the following:
1) CateCoin (CATE)
The CATE coin is among the most popular ones in the market right now, following major gains that it has made over the past month. The token is still new in the market, as its popularity has only picked up recently. Over the past year, it has rallied by over 19,000,000%, and over the past month, it has gained by over 3500%.
Like other meme coins, the CateCoin is mostly used for speculation. According to Coingecko, the token is trading at around $0.00000588, from the $0.00000082 price it was trading at towards the end of October. On November 2, it reached an all-time high of $0.00000977.
The reason why this token could rally is because of the major hype surrounding meme coins. Many investors are looking for ways to make gains from coins that have strong price actions, and CATE is well-positioned for this. CoinGecko data also shows that the coin is attracting attention because its trading volumes have been above $10 million during the past 24 hours.
2) Secret (SCRT)
Secret is not a new cryptocurrency, per se, because it is a rebrand of the former Enigma blockchain network. Nevertheless, the Secret token has been in the shadows for the better part of the year, and its popularity has only grown over the past few months.
The Secret network aims at bringing privacy to smart contracts and in public blockchains. The fact that it has a real use case makes it among the new tokens that make for safe investments. However, it is a low-cap altcoin since it ranks 105th in terms of market capitalization.
Looking at the progress that this altcoin has made during the past few weeks, there is a possibility that it could rally in November 2021. During the past month, SCRT has gained by around 150%., and in late October, it reached an all-time high of $10.38. it has shed some of those gains to reach the current $8, but it is still showing signs of making more gains.
SCRT's trading volumes during the past 24 hours come at above $26 billion. Unlike many new altcoins, buying and trading SCRT is quite convenient because it is listed on Binance.
To learn more about this project visit our Investing in Secret guide.
3) Dogelon Mars (ELON)
With the gains made by Shiba Inu during the past month, many meme tokens that have mimicked Dogecoin have also seen growing popularity. ELON is among the meme tokens that could rally in November 2021, with most of the gains coming from increased buyer interest from traders who expect to make similar gains to SHIB holders.
Despite being among the recently launched meme coins, ELON has seen a lot of attention, and it has even been listed on major cryptocurrency exchange platforms such as KuCoin and the Uniswap DEX. During the past 24 hours, ELON has attracted around $156 million in trading volumes, making it among the most traded meme coins in the market.
ELON ranks below the top 100 cryptocurrencies, making it a low cap altcoin. However, its low prices make it favourable to traders who want to buy coins that cost less. ELON does not have any use case, and its price action mainly depends on buyer interest. With October being met with major gains in meme coins, this could spill over to November and ELON could be among the ones that will rally.
ELON rallied last month by over 1700%, and it reached an all-time high on October 30. This proves that the coin has the potential of climbing up the cryptocurrency charts despite having a massive supply of quadrillion coins.
To learn how to purchase this token visit our How to Buy Dogelon Mars guide.
4) Avalanche (AVAX)
Crypto traders have become more interested in decentralized finance (DeFi) coins. However, most traders were left out of the DeFi boom that happened earlier this year and are looking for projects that are still new to the DeFi and cryptocurrency space.
The Avalanche network was launched in September 2020, making it around one year old. However, the project has been unable to compete with major DeFi giants such as Ethereum and Solana until recently.
The total value locked (TVL) on the Avalanche network has gained over 2000% since August to over $8 billion. This gives it an edge over the other new cryptocurrencies because of its network's high rate of adoption.
AVAX hit an all-time high of around $80 on November 4, making it among the top gainers in the cryptocurrency charts. It is also among the few tokens operating in the DeFi sector that are making new highs. In a year, AVAX has gone from trading at around $2 to the current highs of $80.
While AVAX is not very new as it is above a year old, it makes for a safe investment for an investor looking for a token that has not been in the market for a long time but has a real use case.
To learn more about this project visit our Investing in Avalanche guide.
5) Mars4 (MARS4)
Currently, one cannot talk about gainers in the crypto charts without talking about coins that are powering the Metaverse. The newest project in the Metaverse is Mars4, and its newly launched token MARS4 has enjoyed major gains despite only launching recently.
MARS4 has been on a bullish rally of almost 180% over the last seven days, following a lot of buzz concerning the Metaverse. Major tech firms are now looking towards the Metaverse to boost better engagement with their audience.
When Facebook announced that it would be rebranding to Meta last month, many coins in this sector made major gains, and MARS4 was among them. This month, there is expected to be much progress from firms that want to launch projects in the Metaverse and tokens whose networks already offer virtual products and services are positioned to benefit.
Mars4 seeks to allow people to buy land on a virtual Mars planet using MARS4 tokens, which gives these tokens real utility. Like other coins with real use cases, MARS4 makes for a good and safe investment because it offers a use case for its token.
The crypto market has gained a lot over the years, but most gains in value and adoption have been witnessed over the past year. However, people who were not early into the crypto market have felt left out following these gains and are looking for new projects and coins to invest in.
However, while new coins have growth potential, most of them do not have actual utility. Some of these coins rank low by market cap, and investors are urged to be cautious when investing in them because of high volatility.
Meanwhile, new coins launch with utility, giving investors a chance to grow with these projects while seeing their tokens gain in value. Investors looking for fundamentals, therefore, have to evaluate the technological backing of new coins.