These Two Cryptocurrencies Could Generate 900% Returns by 2024, Analysis Reveals

The cryptocurrency market is poised to enter the second phase of its 2024 bull run, according to analysts. In this scenario, two cryptocurrencies have been touted as potential candidates to turn a $100 investment into $1,000, with a 900% return.

Selected for their solid foundations and growth projections, cryptocurrencies Monero (XMR) and MultiversX (EGLD) are among the favorites. Even so, experts warn that the crypto market is volatile and unpredictable. Therefore, they recommend that investors do their own research before making decisions.

Cryptocurrencies that could skyrocket this year

Monero (XMR) is a prime candidate to break into the payments space, particularly due to its advanced privacy features. In 2024, privacy has become a central issue for many cryptocurrency users amid increased regulation and arrests related to crypto assets.

Monero sets itself apart by offering privacy “by default” without compromising security. Even after its delisting from Binance, the Monero community remained resilient, and the coin continued to grow on payment platforms. Recent reports indicate that Monero has surpassed even Bitcoin (BTC) and stablecoins like USDC and USDT in adoption.

Additionally, research firm Chainalysis recently highlighted the difficulty of tracing transactions involving Monero, praising the robustness of the cryptocurrency’s privacy technology.

XMR is currently trading at $167.50 per coin, up 6,809% since its launch. However, the cryptocurrency is still down 69% from its all-time high. To achieve the potential of a 10x increase in value, Monero would need to reach a market cap of $31 billion, which is comparable to cryptocurrencies like XRP and USDC.

MultiversX (EGLD): Scalability and Interoperability

MultiversX (EGLD) is another cryptocurrency with potential for appreciation, standing out for the development of an advanced technological infrastructure, especially in terms of scalability and interoperability. The network is the first to fully implement all three types of sharding: network, transaction and state sharding.

With a fixed maximum supply of 31 million tokens, MultiversX is considered by experts as an advanced solution for the growing demand for scalable and secure networks in the Web3 environment.

Additionally, the chain offers a modular approach to customizable private blockchains and allows users to increase the security of their transactions with two-factor authentication (2FA) directly on the blockchain.

EGLD is currently trading at $25.87, which is significantly lower than its 2021 peak of $545. A 10x increase in price would put the token at around $265, which would still be below its all-time high. However, such an increase would be in line with the market value of other cryptocurrencies such as Shiba Inu (SHIB).

Pepe Unchained and Memebet

Two other cryptocurrencies with potential for growth, but which are still in pre-sale, are the memecoins Pepe Unchained and Memebet .

Pepe Unchained is a memecoin that emerged as an alternative to PEPE. In its pre-sale campaign, the cryptocurrency has already raised more than US$12.8 million, which highlights the potential of the project. The success of the project is directly related to the fact that the token has its own Layer 2 network on Ethereum.

Currently priced at $0.0095743, the price of $PEPU will soon increase as the presale progresses to the next stage of fundraising. In other words, now might be a good time to invest in the project.

Meanwhile, the Memecoin Memebet has already raised $152,000 in its pre-sale. Each token currently costs $0.025. The main difference of this project is the launch of the Memebet Casino, the only casino on the web and on Telegram where you can bet with memecoins.

Additionally, the Memebet project rewards users for playing at the casino with the Play-to-Earn benefit. The more a user bets, the more they earn in airdrops and rewards. About 70% of the project’s supply is dedicated to this. Additionally, $MEMEBET token holders will unlock exclusive bonuses and challenges at Memebet Casino.