The Best New Cryptocurrencies of August 2024

In a dynamic and ever-evolving landscape, cryptocurrencies continue to play a crucial role in transforming the global financial landscape. As August 2024 unfolds, it’s the perfect time to explore the latest developments in the world of cryptocurrencies.

New projects, technological innovations, and revolutionary proposals are shaping the future of finance, offering enthusiasts and investors an exciting glimpse into what’s to come. However, these projects also offer points of concern. After all, there are more than 20,000 cryptocurrencies and more are emerging every day.

According to a study by the Visual Capitalist website , more than 1,500 cryptocurrencies collapsed between 2013 and 2022. In other words, 8% of all cryptocurrencies that exist today were unsuccessful. Most of them ended up being abandoned by their developers, who no longer managed the project as they should have.

This is actually one of the risks involved with cryptocurrencies: abandonment. Many developers simply launch a cryptocurrency but do not continue to maintain the project. Either they simply lose interest in their cryptocurrency or, even worse, they commit scams. And the one who suffers the most is the investor, who runs the risk of losing a lot of money.

Fortunately, not all cryptocurrencies have made it into this statistic, and 2023 is here to prove it. Names like Jito, Osmosis, and Celestia (TIA) have not only shown promise, but have also made investors happy. This shows that it is possible to profit from new cryptocurrencies with a lot of research and attention.

That’s why Afrilatest has decided to bring you this comprehensive guide, which will showcase 11 of the best new cryptocurrencies that are emerging on the scene. The following text will analyze these options, their value propositions, fundamental technologies, and the use cases that are driving adoption.

It’s no secret that August 2024 promises to not only reveal technical advances, but also highlight projects that seek innovative solutions to real-world challenges. The list encompasses all types of investments, from casino tokens to even memecoins.

Criteria for selecting new cryptocurrency projects

Cryptocurrency analysis is not an easy task, especially for new projects. Therefore, the list of cryptocurrencies below took into account a rigorous selection of several factors, including the following:

• solidity of the project;
• positive team history;
• financial return potential of tokens;
• analysis of the risks of each market;
• potential of the market in which each cryptocurrency is inserted;
• projects underlying each token .

Project strength factors include the ability of a project to remain viable over the long term. In this sense, the projects on this list avoid so-called “fads” and focus on offering a solid and well-built ecosystem.

Furthermore, all projects have highly skilled teams with a long history of involvement with alternative technologies. Most importantly, the creators of each network have an exemplary track record of honesty and adherence to their project schedules. In short, they deliver what they write in their roadmaps.

The analysis of each market takes into account the multiplicity of the list, which includes Bitcoin mining, memecoins and other types of tokens. As each of these markets has a different growth potential, the cryptocurrencies on the list also take this return potential into account.

As we embark on this exploratory journey, get ready to discover the fascinating stories behind the best new cryptocurrencies of August 2024. By following our list, you’ll gain access to the best opportunities and, at the same time, learn how to spot the upcoming gems. So join us and check out the seven new cryptocurrencies that promise to bring excellent returns.

Top 11 New Cryptocurrencies

Based on the above, this list features eleven new or recently launched cryptocurrency projects. In all of them, the potential for returns combined with a high degree of protection make this a safe bet portfolio for projects that are in their early stages. The ten cryptocurrencies chosen were the following:

1. Pepe Unchained – Crypto with low fees, high speed and massive staking rewards.
2. The Meme Games – New play-to-earn memecoin celebrating the 2024 Olympics.
3. WienerAI – Infinitely upgradeable sausage dog-themed token offering high APY staking benefits.
4. PlayDoge – Play-to-earn (P2E) mobile game with Doge as the main character.
5. Shiba Shootout : Wild West themed memecoin with community rewards and staking.
6. Base Dawgz: Memecoin multi-chain com recompensas share-to-earn.
7. Mega Dice Token – A CasinoFi token that offers tradable NFTs and staking APYs.
8. 99Bitcoins – Innovative L2E Token, Earn APYs with Staking and Learning Rewards.
9. Sponge V2 – Second version of the successful memecoin inspired by the iconic SpongeBob SquarePants.
10. Fetch.ai  – AI-based altcoin to automate repetitive tasks.
11. SophiaVerse – New among AI-based cryptos with good reviews among experts.

Some projects are continuations of launches that were relatively successful in 2023. This is the case of Sponge V2, which brings improvements in relation to the first SPONGE token. Others, such as the Bitcoin ETF and Minetrix tokens, aim to increase the value of events involving the largest cryptocurrency on the market, especially the approval of ETFs and the halving.

1. Pepe Unchained

Pepe Unchained is a Layer 2 blockchain that offers unmatched speed and low transaction fees, designed specifically for meme coin enthusiasts. It provides 100x faster transactions than Ethereum and an instant bridge between ETH and Pepe Chain. With $PEPU, you can stake tokens to earn significant rewards and be part of a vibrant ecosystem.

Pepe Unchained’s dedicated block explorer and lower fees make it an attractive choice in the presale market. To get the most out of this project, read the whitepaper, follow Pepe Unchained on X, and join the Telegram channel.

Visit the Pre-Sale website

2. The Meme Games

The Meme Games ($MGMES) brings the excitement of the Olympic Games to its pre-sale, giving investors the chance to earn bonus tokens every time they purchase $MGMES tokens.

All you have to do is select one of the iconic meme characters, such as Doge, Pepe, and Brett, and try your luck in a 169m race. All characters have an equal chance of winning, and winning a race is random. If your character wins, you get 25% bonus tokens.

You can purchase $MGMES tokens multiple times to increase your chances of winning, as each purchase allows you to pick another meme athlete. During the presale, investors can stake their tokens to earn a dynamic APY of 4,500%. Being dynamic, it will decrease as more tokens are staked, giving early investors the biggest rewards.

Visit the Pre-Sale website

3. WienerAI

WienerAI ($WAI) is one of the biggest memecoin sensations with the potential to fly to the moon when it launches on cryptocurrency exchanges. Within hours of its pre-sale launch, this promising project has already raised over $200,000 in seed funding.

WienerAI comes with a combination of AI and memecoin fundamentals, describing itself as the “first Wiener/Dog/Artificial Intelligence ever created.” With its community-driven tokenomics and strategic roadmap, the dog-inspired token aims to lead the bustling memecoin market.

Despite being a new cryptocurrency, WienerAI has quickly gained prominence, attracting the attention of market whales. A key factor that has positioned Wiener AI for success in the market is its perfect launch timing.

With the overall market sentiment still bullish, investors continued to show a strong appetite for memecoins with “100x potential.” Since Wiener AI is a token with such promising potential, more buyers are sure to participate in its presale.

To purchase the token at a discount and stand a chance of earning exponential gains when it hits exchanges, visit the website now. In addition to purchasing Wiener AI to gain potential market gains, early adopters can also take advantage of its standard staking mechanics to earn lucrative rewards.

Visit the Pre-Sale website

4. PlayDoge

The top memecoin to invest in 2024 is PlayDoge ($PLAY). PlayDoge takes the top spot by introducing a play-to-earn mobile game that will turn the iconic Doge meme into a Tamagotchi-style virtual pet.

Bringing back 90s nostalgia, the PlayDoge mobile game will feature 8-bit 2D graphics, similar to the classic Tamagotchi style of gaming. However, PlayDoge is combining entertainment with financial incentives by launching the $PLAY token.

By caring for your PlayDoge virtual pet and competing in mini-games, you can earn $PLAY tokens as a reward. The upcoming launch of the app will showcase the best performances in the game on an online leaderboard. Top performers will also be eligible for additional $PLAY bonuses and other exclusive rewards.

PlayDoge launched at a time when investors are starting to value utility. In the past 30 days, Dogecoin – purely a memecoin – is up 15%, while high-utility memecoins like Floki Inu – which has a P2P game called Valhalla – are up over 50%.

$PLAY token holders can gain more utility by staking their tokens. Currently, $PLAY is priced at $0.00451 in the presale. The presale will consist of 40 rounds, through which PlayDoge aims to raise a maximum cap of $24.4 million.

Visit the Pre-Sale website

5. Shiba Shootout

Shiba Shootout is a Western-themed memecoin featuring Shiba Sharpshooters and an engaging storyline. The $SHIBASHOOT token, an ERC-20 asset, powers several ecosystem activities. These include referral rewards, community engagement through Campfire Stories, and gamified airdrops via Lucky Bow Sweepstakes.

With a total of 2.2 billion tokens, 35% are allocated for the presale. The remaining tokens support Saddlebags Savings and Cactus staking for long-term gains. Shiba Shootout aims to provide both short-term excitement and long-term benefits.

Visit the Pre-Sale website

6. Base Dawgz

Base Dawgz is an interesting memecoin with the potential to explode in 2024. That’s because $DAWGZ isn’t tied to a single blockchain. Instead, utilizing Wormhole and Portal Bridge technologies, $DAWGZ is available on five blockchains: Base, Solana, Ethereum, Binance, and Avalanche.

This gives the token massive exposure to the memecoin trading community and other investors. To help promote the token, Base Dawgz will reward users who connect their X accounts and post Base Dawgz-related memes and content. This is called “Be Social for Airdrop.” Additionally, there is an allocation of 15% of the total token supply for marketing purposes.

$DAWGZ is currently available in a pre-sale where early investors can secure a low price. Once the token is listed on exchanges, the price will not be the same. Check out the Base Dawgz whitepaper to learn more about the project.

Why Dawgz Base Could Be the Next Crypto to Explode

• $DAWGZ offers seamless interoperability across multiple blockchains (ETH, SOL, BSC, AVAX), providing versatile use cases for users.
• The roadmap includes strategic phases such as DEX and CEX listings, community rewards, and ongoing marketing.
• Tokenomics allocates 20% to presale, staking, and liquidity, ensuring sustainable growth.

Visit the Pre-Sale website

7. Mega Dice Token

Mega Dice Token ($DICE) is a token based on the Solana network, powering an entire gaming ecosystem. The token can be used to claim various bonuses and rewards at Mega Dice Casino and sportsbook.

This token has the potential to explode due to the following use cases it offers:

• Staking Yields – Stake $DICE on the Mega Dice smart contract across three staking pools and start collecting regular annual yields.
• Daily Rewards – Staking token holders can earn daily rewards in casino games depending on their previous performance at the casino.
• Get NFTs – Certain $DICE holders have access to limited edition NFTs. This leads to special privileges and rewards in the ecosystem.
• Early Bird Bonus – Purchase $DICE early during the presale and get free tokens as an early bird bonus.

Mega Dice Token has a fixed supply of 420 million tokens. According to the Mega Dice Token whitepaper, a portion of the profits generated will be used to buy back tokens in the ecosystem. The platform will also start burning tokens to reduce the supply.

35% of the supply is being offered through ongoing presale. Another 10% will be offered as staking rewards. The $DICE token is priced at $0.069 during the initial presale round.

Visit the Pre-Sale website

8. 99Bitcoins

In early 2010, 99Bitcoins launched as an online crypto-educational platform. Now, the popular platform is transforming into a Learn to Earn ecosystem where users are rewarded with digital assets for increasing their knowledge.

Built on the Ethereum blockchain, 99Bitcoins will soon migrate to the Bitcoin network. It will adopt the BRC-20 network standard, which allows developers to create DApps and NFTs.

At 99Bitcoins, you can complete interactive courses, seminars, and quizzes. As you progress through the curriculum, 99Bitcoins offers $99BTC tokens as rewards. Out of its 99 billion token supply, 17% will be offered as community rewards.

While the earning possibilities through the educational ecosystem are enough to generate huge growth potential, 99Bitcoins also offers high staking yields. You can earn annual yields of up to 70,000% with $99BTC staked.

14% of the token supply will be offered as staking rewards over the next two years. Finally, token holders get exclusive access to VIP groups and expert trading signals. For these reasons, 99Bitcoins could be the next cryptocurrency to explode.

The project had a great start to its presale – raising over $117,000 in just a few hours. The goal is to raise $11 million through the presale before launching on centralized and decentralized exchanges.

Visit the Pre-Sale website

9. Sponge V2

The year 2023 was marked by surprising increases in the prices of several memecoins, resulting in considerable gains for those who managed to position themselves appropriately in the market. Among the memecoins that experienced notable increases in value, both the established and the newer ones stood out and hold a special place among the best investments for 2024.

One notable example is one of the promising microcoins, Sponge V2 (SPONGEV2) , a new iteration of the memecoin Sponge ($SPONGE), which has attracted considerable interest from traders. The new iteration is introducing a unique pre-sale, where investors can acquire Sponge V2 tokens by staking them with tokens from the original version of the cryptocurrency.

The strategy of the team behind Sponge V2 is to create an engaged community, taking inspiration from the success of the original version. The latter, launched in May 2023 on Uniswap, saw a significant increase in value shortly after its launch. Despite a subsequent slowdown, Sponge has maintained a considerable value and has seen a subsequent increase in its price.

With a total supply of 150 billion tokens, Sponge V2 allocated 26.93% for pre-sale acquisition through staking , with the remainder distributed between staking rewards, liquidity on decentralized exchanges, marketing expenses, game development, and in-game rewards.

Investors are interested in Sponge V2 for a number of reasons, including the expectation of similar returns to the original version and the current memecoin-friendly environment in the market. Additionally, the connection to the popular SpongeBob SquarePants character and plans for a Play-to-Earn game are generating excitement around the cryptocurrency.

The team behind Sponge V2 plans to build on the success of the original version by leveraging proven strategies to grow the community and increase visibility on social media. Allocating resources to marketing expenses and pursuing listings on major exchanges are part of the plan to further drive the success of the new memecoin.

Visit the Pre-Sale website

10. Fetch.ai

Fetch.ai is a blockchain and artificial intelligence (AI)-based cryptocurrency that gives users the ability to automate repetitive transactional tasks. Currently priced at $0.2194 and with a market cap of $178 million, the FET token powers the Fetch.ai network and has garnered significant interest due to its potential in the AI ​​space.

Since its launch, Fetch.ai has been recognized as one of the leading AI-related cryptocurrencies, which has generated considerable excitement regarding its future. Its price prediction for 2030 shows gradual growth, with estimates of reaching $0.9 by 2025 and up to $1.1 by 2030.

Fetch.ai’s price history reveals its trajectory from its founding in 2017 to its launch on Binance Launchpad in 2019, where it raised $29 million. Although it has experienced price fluctuations since then, it reached an all-time high of $1.19 in September 2021. Currently priced at $0.2194, FET still shows potential for growth, especially considering the growing interest in the AI ​​industry.

Factors influencing the price of Fetch.ai include speculation, developments in the AI ​​industry, solid tokenomics, and general cryptocurrency market conditions.

With a robust token economy and a wide range of potential use cases, Fetch.ai presents itself as a promising buy, especially given its unique position at the intersection of blockchain and AI.

To purchase Fetch.ai, investors can turn to Binance, which offers a competitive fee structure and a variety of features to facilitate trading.

Overall, while Fetch.ai carries with it risks like any other cryptocurrency, its growth potential and significant utility put it in an advantageous position for investors interested in exploring the emerging field of blockchain artificial intelligence.

11. SophiaVerse

SophiaVerse is emerging as one of the most intriguing initiatives at the intersection of artificial intelligence (AI) and the metaverse. Combining the renowned humanoid robot Sophia with the innovative vision of Hanson Robotics and the SingularityNet Foundation, the project promises to revolutionize the way we interact with AI and explore the virtual world.

Before we dive into SophiaVerse, it’s crucial to understand the importance of Sophia. This powerful AI transcends the limits of traditional chatbots by incorporating human-likeness and continuous learning.

With over 4 billion social media impressions and meetings with global leaders, Sophia represents a bridge between humans and machines, paving the way for the SophiaVerse.

SophiaVerse is more than just a metaverse project. It’s a bold attempt to bring artificial general intelligence (AGI) to the Web3 environment. Sophia AI Labs (SAIL) serves as the epicenter of this ecosystem, providing an interactive space for interactions with Sophia, AI development, and immersion in games like SophiaVerse Age of Singularities (SAOS).

With a clear roadmap and an exceptional founding team, SophiaVerse is well positioned to shape the future of AI and the metaverse.

Carefully planned development phases promise to expand the platform’s reach and utility, while the allocation of SOPH and GUARD tokens offers a sustainable model of governance and growth.

For those interested in becoming a part of SophiaVerse, the IDO offers an exciting opportunity to join this journey. With a set start date and a transparent refund policy, the IDO represents the first step towards a transformative experience at SophiaVerse.

Taking a Deep Dive: What Makes Each Cryptocurrency Stand Out?

In a group of just six cryptocurrencies, there is a vast universe in which each of them carries with it unique characteristics that distinguish them in such a diverse scenario. In this list alone, it is possible to identify at least four large groups of cryptocurrencies based on their sectors: memecoins, Bitcoin tokens, staking and DEX .

What makes a cryptocurrency stand out involves a combination of technology, purpose, development team, practical use cases, and market acceptance. In this sense, see how each of these groups and their tokens can take advantage of their scenario to grow and gain independence, attracting ever greater returns.

BTCMTX has several features on its roadmap, such as an app and desktop software that will allow holders to stake. The first BTC mined through the stake-to-mine system will also be available for withdrawal from the staking pool, allowing holders to profit from mining . This highlight makes staking the token a safe way to profit from Bitcoin mining in a crucial year.

Risks and considerations when investing in new cryptocurrencies

As with all cases involving new cryptocurrencies, the risks involved in operations tend to be greater. After all, these are names that are not yet known by the market, they are bets. And just as there is great potential for growth, there is a risk that new cryptocurrencies will collapse before they can prove themselves . Therefore, new cryptocurrencies always bring several risks, which we can divide into three categories:

• regulatory risks;
• code failures;
• problems with the team .

Regulatory risks

The regulatory environment for cryptocurrencies is constantly evolving. In this sense, governments and regulatory agencies are always passing new laws for the sector, imposing or releasing new rules. And since there are more than 200 countries around the world, regulations are also multifaceted and meet the reality of each jurisdiction . Since investment today is increasingly global, understanding the rules of each country is a basic requirement for investing in cryptocurrencies.

Changes in government policies or new regulations can significantly impact the acceptance and viability of specific projects. Some of these rules can make a cryptocurrency unviable, preventing you from acquiring it within your country. Others can cause harm to investors from more than one country , as is the case with blockchain regulations like the European Union’s MiCA.

Cryptocurrency-unfriendly regulations tend to be detrimental to new projects that don’t have the resources to deal with this bureaucracy. So, be aware of what your country requires in terms of rules for cryptocurrency projects and see if the project you’re investing in fits those rules .

Code failures

Many emerging projects are based on innovative and complex technologies. Even Bitcoin, which brings together several technologies that preceded it, is still a complex concept for most people. And with the complexity of cryptocurrencies comes the risk of flaws in the design of the project .

These flaws involve risks related to code flaws, security vulnerabilities, or technical challenges, many of which are insurmountable. A poorly designed project can make the protocol more susceptible to attacks that can adversely affect the success of the project. And in fact, it is not uncommon to see new projects fail after hacker attacks stemming from a flaw in the code .

Additionally, new cryptocurrencies often lack a track record of performance, both from the team and the code. This makes it difficult to assess how these assets react to different market conditions over time. Therefore, keep an eye on the project’s white paper and investigate the protocol’s source code . This will help you check if the protocol has flaws that could compromise its performance. If possible, always count on the help of IT professionals for this task.

Team problems

Although one of the mantras of decentralized applications is “ code is law ,” this code was created by a human being. Teams behind new cryptocurrencies are often made up of anonymous or pseudonymous individuals. Therefore, this lack of transparency about the team can increase the risk of mismanagement or abandonment of the project . There have been several cases of this that resulted in scams known as rug pulls .

A rug pull is a type of scam in which developers of a project abandon the network, usually selling their tokens shortly afterward. As a result, they are able to profit from the losses of other investors, who are stuck with a useless and worthless token. Another team risk is having inexperienced individuals who can make flaws in the protocol, compromising the future performance of the network .

In other words, having a well-qualified and competent team will define the future and quality of the project. Always check the team’s official data on LinkedIn and the project’s official sources. Also, see which cryptocurrency projects they have participated in and what their contributions have been .

How to invest in new cryptocurrencies safely

Investing in new cryptocurrencies can offer exciting opportunities, but it also comes with risks. These risks are even greater when it comes to new cryptocurrencies that have yet to prove themselves. Security is a key priority for any investor looking to explore emerging digital assets. Here are some guidelines for investing in new cryptocurrencies safely .

First of all, research, research, research. Never invest in a cryptocurrency that you don’t know or whose value proposition is unclear. If some of the options on our list are still unclear, reread the text and consult our FAQ section . But never, under any circumstances, invest in something that you have doubts about.

Another way to keep your investments safe is to diversify across multiple cryptocurrencies. Here in this text, for example, are six excellent options to achieve this purpose. Diversifying reduces the risk of relying exclusively on the performance of a single currency, which can destroy your portfolio . Choose projects with solid fundamentals that complement your portfolio, and thus avoid the risk of collapse and losing all your money.

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