Many crypto investors consider buying cheap altcoins in October, the traditionally bullish month. As a historically positive month, consistent rallies have earned it “Uptober.”
While several cryptocurrencies will likely see an uptrend this season, this article highlights 6 cheap altcoins to buy this month. These altcoins include Shiba Inu (SHIB), Hamster Kombat (HMSTR), Cardano (ADA), Fantom (FTM), Ripple-associated XRP, and Conflux (CFX).
With little capital and HODLing, investors may earn big from these digital currencies. Here is an overview of why each of these altcoins stands out.
Shiba Inu (SHIB)
The popular dog-themed memecoin is currently worth $0.00001734, according to CoinMarketCap data. This price level is a major rebound from its previous low levels. Generally, the SHIB community is confident that the memecoin will register more gains in the coming weeks. The ongoing developments in the Shiba Inu ecosystem further buoy these optimistic projections.
Shiba Inu recently inked a new partnership with encryption design startup Zama. The alliance aims to enhance the ecosystem’s security with Zama’s Fully Homomorphic Encryption (FHE) solution. This new development might make SHIB more attractive to investors, increasing activity and likely pushing prices with time.
Shiba Inu also has a Layer-2 solution dubbed Shibarium. In recent times, Shibarium has seen a surge in Total Value Locked (TVL). Combined with the burn rate surge, it could drive renewed interest in SHIB and its price level. Investors who bet on the memecoin might record massive gains as Uptober presses on
Hamster Kombat (HMSTR)
The HMSTR token officially launched in September. Before launch, it generated massive community hype, which has put HMSTR on everyone’s radar.
The token from the Telegram-based Tap-to-earn game Hamster Kombat is listed on several exchanges, including Binance, Budget, Bitfinex, and Bybit.
This token currently trades at $0.0042, making it one of the cheapest altcoins on this list. While this price level seems very low, HMSTR’s support from crypto exchanges could trigger a positive price action for the crypto asset in a matter of weeks.
Moreover, this month, the general Uptober rally could trigger a positive ripple effect for the HMSTR token.
Cardano (ADA)
Cardano’s ADA is now trading at $0.35. The upgrades and improvements in its ecosystem could soon trigger a surge in ADA’s price.
The 7-year-old Cardano blockchain has established itself as one of the networks that never miss a chance to boost its ecosystem. In the last few months, it has announced the implementation of several upgrades and security boosts.
Shortly after the Chang hard fork, which brought decentralized governance, Cardano saw the public testnet for Midnight go live. The development is focused on enhancing blockchain privacy and security, a tough bid to achieve in the ecosystem. Enhanced privacy and security are bound to bring new use cases to the Cardano ecosystem.
In the long run, this might translate to positive twist for ADA. When this eventually happens, ADA holders could record huge profits from their holdings.
Fantom (FTM)
Fantom is another cheap altcoin because of its low cost and potential. Worth $0.6727, FTM appears to be a good choice for investors searching for cheap altcoins to buy in October.
For a few days, the altcoin has recorded consistent price rallies. This positive growth twist came from the 200 million token airdrop with a deflationary model from Sonic Labs.
This suggests that FTM has a high tendency to react to ecosystem events and occurrences. Analysts believe the token’s price will increase significantly as Sonic Labs solidifies this deflationary approach. Later this year, the crypto ecosystem expects a “Sonic” update aimed at boosting blockchain efficiency.
FTM is currently trading at $0.6333, but some experts are confident that surpassing the $0.8 mark could trigger a significant uptrend, elevating the price to $0.9.
XRP
If there is any altcoin that investors should not overlook this Uptober season, it is Ripple’s XRP. Since partially gaining freedom from the United States Securities and Exchange Commission’s (SEC) shackle of categorization, this coin has demonstrated a positive sentiment.
Its ability to foster collaborations with well-known players in the finance sector has earned it significant traction.
XRP’s role in cross-border settlements positions it for a potential rally ahead. It is currently trading at a price level of $0.5235 with a market cap of $29.95 billion. Though XRP’s securities classification is still up for Appeal from the US SEC, the counter-appeal from Ripple may earn it the freedom it needs.
Also, Bitwise and Canary Capital have filed applications to list XRP spot ETF products in the US. Though unlikely, if these products gain approval, they might catalyze XRP’s long-term price surge.
Conflux (CFX)
CFX is just about a cent and a few pennies. CoinMarketCap data shows that its market value is only about $0.1791.
At this price level, investors can accumulate as much as they can afford. There are already speculations that the coin could climb to $0.28 after releasing its roadmap for the next three to five years.
It features scalability, privacy, and advancements in artificial intelligence (AI) integration. Ultimately, the goal is to make Conflux a leading Layer 1 blockchain platform. The news renewed investor interest in the ecosystem, which is evident in the price of CFX. As this roadmap unfolds in the real world, it could bring positive momentum to CFX’s price.
Conclusion on Cheap Altcoins To Buy
All of the assets, as mentioned above, are currently below $1. This makes them a good option for investors or even new traders looking for cheap altcoins. According to analysts and experts, these tokens have the potential for a future price rally.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
