Best Crypto to Buy Today for Short-Term Investment in 2024

The crypto market is currently buzzing with the development of spot Exchange-Traded Funds (ETFs), marking a significant phase in cryptocurrency evolution. In this transformation, there’s a wide range of emotions among enthusiasts, while skepticism from government officials casts shadows over the future of cryptocurrencies. 

Key Insights

• Pikamoon ($PIKA) emerges as a standout short-term investment, blending meme coin appeal with GameFi features.
• Its successful presale and momentum through influencer support underscores its legitimacy and potential.
• Positioned as a contender in the GameFi space alongside billion-dollar projects like Pikamoon, Axie Infinity and Illuvium.
• Transparent team, active community, and innovative gaming products contribute to Pikamoon’s appeal.
• Other notable short-term investments include Polkadot (DOT), Ripple XRP, Solana (SOL), Avalanche (AVAX), Polygon (MATIC), Dogecoin (DOGE), Shiba Inu (SHIB), ApeCoin (APE), and Cardano (ADA).
• Different types of short-term trading includes scalp trading, day trading, and swing trading, each with its own strategies and time frames.
• Factors to consider for best cryptocurrency to invest in short term include accessibility, market cap, sector leadership, functional products, team and development, market volatility, liquidity, market trends and sentiment, technical analysis, and fundamental analysis.
• Caution is advised due to the highly volatile and unpredictable nature of the crypto market, and investors should only invest what they can afford to lose.

The volatility of the market and the decision-making process of investors are increasingly influenced by these dynamics, shaping the direction of digital currencies. The success of crypto ETFs, crucial for attracting more investors and bringing stability, hinges on the upcoming decisions by regulatory bodies like the SEC. 

Considering the latest trends, certain digital currencies emerge as promising investments for those looking to profit in 2024. The potential returns from these digital currencies are too substantial to overlook. With a myriad of cryptocurrencies flooding the market, the challenge of choosing the right ones to invest in can be daunting. 

But fret not, we’re here to guide you through. In this segment, we’ll highlight the best short term crypto investments in 2024.

Which Crypto to Buy Today for Short Term?

When deciding which cryptocurrency to invest in for the short term, you’re looking at a different game compared to long-term investing. Short-term trading is all about making the most of the market’s ups and downs, aiming to profit from quick changes in prices over days or months. 

This approach demands a good grasp of market trends, the ability to analyze charts and figures, and quick reflexes to act on market shifts.

For short-term gains, investors tend to favour cryptocurrencies that are both highly volatile and liquid. These characteristics mean there are plenty of chances to make money by quickly buying and selling. Let’s find out.

Top 10 Crypto for Short Term Investments in 2024

Choosing from the vast array of cryptocurrencies available can feel overwhelming due to the sheer number of options. But in putting together this list, our goal was to offer a variety of choices that suit different investment preferences. 

We included both well-known cryptocurrencies with a history of stability and newer, riskier ones with potential for big gains. By combining these two types, we aimed to give investors options that match their comfort with risk and investment goals. 

Whether you’re looking for safety in established projects or excitement in newer ones, our Top 10 cryptocurrencies provide a range of opportunities to explore in the world of digital assets;

Pikamoon ($PIKA)

Pikamoon’s remarkable presale achievement, where it sold out just 7 days into a 60-day countdown, generating over $1.3 million in sales, sets a new standard for presale token launches, especially those debuting on tier-1 Centralized Exchanges (CEXs). This is a rare feat in the crypto space, highlighting the project’s legitimacy and potential.

Upon launch on Bitget, MEXC and Uniswap the token amassed an impressive 24 hour trading volume of over $10 million, whilst also enjoying a price appreciation of close to 700%.

The momentum built through global influencer campaigns, which are set to continue post-launch, underscores the confidence and enthusiasm surrounding PIKA. Influencers, drawn by the strong community and the tangible progress represented by the beta version of Pikamoon’s platform, have played a pivotal role in amplifying its visibility and appeal. 

We have 100+ Crypto Influencers partnered with #Pikamoon 🙌
All spreading the bullish news of $PIKA globally 🌍
Learn more via medium – https://t.co/cRivtvVeIv
🟡$250 GIVEAWAY🟡
(RT / Like / Tag 2 Friends) pic.twitter.com/PoM1mA2JdT

— Pikamoon (@PikaMoonCoin) March 23, 2024

 

Moreover, Pikamoon’s approach, mirroring the success trajectories of billion-dollar GameFi projects like Axie Infinity (AXS), Illuvium (ILV), and The Sandbox (SAND), positions PIKA as a contender to be 2024’s standout project in the space. The transparency demonstrated by a fully doxed team and the direct engagement through the founders’ podcast further solidify its standing as a premier investment choice in the rapidly evolving GameFi sector.

The development of an open-world metaverse by Pikamoon’s in-house team reflects a strategic vision akin to Sky Mavis’s approach with Axie Infinity, allowing for unparalleled control over the creative process and ensuring that the platform meets the community’s needs and expectations at every turn. 

 

With over 15,000 community members and 7,500 beta testers already on board, Pikamoon is not just building a game; it’s cultivating a vibrant ecosystem underpinned by direct feedback and active participation from its users. 

This level of engagement and the promise of a metaverse tailored to the desires of its community make Pikamoon not just a compelling short-term investment in the crypto world but also a project with the depth and infrastructure to sustain long-term interest and growth. 

The combination of a robust, transparent foundation, a clear vision for the future, and the enthusiastic backing of a rapidly growing community positions Pikamoon as an unrivaled opportunity for investors looking to capitalize on the dynamic possibilities of GameFi.

Polkadot DOT

Polkadot stands out as a notable short-term investment in the cryptocurrency world, thanks to its unique ability to enable interoperability and scalability across diverse blockchain networks. This feature is pivotal as it addresses the critical challenge of seamless communication between different blockchains, enhancing Polkadot’s significance in the crypto space. 

The platform’s rapid ecosystem growth, with projects spanning various sectors, underscores its versatility and developer interest, essential factors for its short-term growth potential. Technologically, Polkadot distinguishes itself with advanced features like parachains and a sophisticated consensus mechanism, coupled with an on-chain governance model that ensures smooth updates. 

These aspects make it adaptable and potentially more stable against market shifts. Polkadot’s credibility is boosted by its strong team and market recognition, attracting investors looking for solid fundamentals and growth prospects.

Currently, Polkadot’s potential is amplified by the increasing demand for blockchain interoperability and the speculative dynamics of the crypto market, which could drive investment inflows and price appreciation in the short term. However, the volatile nature of cryptocurrencies calls for careful research and diversified investment strategies to navigate potential risks effectively.

Ripple XRP

Ripple’s XRP stands out in the cryptocurrency world, boasting a solid reputation for swift transactions, minimal fees, and an eco-friendly approach. At its core, XRP thrives on the XRP Ledger, a decentralized blockchain that champions efficiency through its innovative consensus protocol. Unlike the energy-intensive Proof-of-Work (PoW) method, the XRP Ledger employs a trust-based validation system, significantly reducing environmental impact and enabling a staggering throughput of up to 1,500 transactions per second.

These features, swift transaction times and low fees, are particularly appealing to traders looking for lucrative short-term investment opportunities. In the fast-paced realm of cryptocurrency trading, XRP’s efficiency and cost-effectiveness are invaluable. Furthermore, its widespread popularity ensures ample liquidity, making it easy for investors to swiftly enter and exit positions at any time.

 

Price volatility in XRP tends to be mild, with daily fluctuations often just a few cents. This characteristic makes it a prime candidate for scalping strategies, where traders capitalize on minor price movements to secure profits.

Behind the scenes, a dedicated development team works tirelessly to enhance the XRP Ledger, promising ongoing improvements and innovations. Such commitment suggests a bright future for XRP, positioning it alongside leading cryptocurrencies like Bitcoin and Ethereum.

XRP’s combination of speed, affordability, liquidity, and slight volatility shapes it into an attractive choice for those eyeing short-term investments in the cryptocurrency space.

Solana SOL

Solana stands as a cutting-edge blockchain platform, designed with scalability at its heart. It’s renowned for its remarkable speed, boasting the ability to process nearly 65,000 transactions per second. This impressive feat is achieved through its innovative Proof of History consensus mechanism, which enables network-wide time synchronization among nodes.

In the realm of DeFi, Solana has quickly climbed the ranks, earning the moniker of an “Ethereum-killer” due to its rapid growth and potential to challenge established platforms.

With its unparalleled speed, Solana has captured the attention of investors, making it a highly sought-after blockchain. It boasts exceptionally low transaction fees, averaging at just $0.00025, adding to its appeal.

However, Solana faces hurdles in achieving seamless interoperability with Ethereum, limiting its smart contract capabilities to those specifically designed for its network. Additionally, the platform has encountered multiple network outages, raising concerns about its reliability among users.

Solana is a platform that marries speed with cost-efficiency, making it a standout in the blockchain space. Despite facing challenges in interoperability and network stability, its strengths continue to attract significant interest from the DeFi community and investors alike.

Avalanche AVAX

Avalanche (AVAX) is a pioneering platform that excels in executing thousands of transactions each second, ensuring a trustless and decentralized environment suitable for payments, staking, and network security.

AVAX stands out for its swift transaction processing capabilities, efficiently handling thousands of transactions per second without compromising on lack of trust or decentralization.

The platform’s reward system is designed to encourage active involvement, offering incentives for users to participate and contribute to the growth of the Avalanche ecosystem. With its flexible infrastructure, AVAX caters to a wide range of blockchain projects, providing developers with the tools to innovate and develop a variety of applications within its ecosystem.

As a newcomer, AVAX faces stiff competition from established giants like Ethereum, which may affect its market share and overall adoption. To become a validator on the Avalanche network, there’s a significant entry barrier, requiring a stake of 2,000 AVAX tokens, which may deter potential validators.

Unlike some other platforms, Avalanche does not penalize validators who act maliciously or negligently by stripping them of their staked AVAX, which raises concerns about the network’s security and integrity.

Avalanche offers an innovative and efficient blockchain solution highlighted by its fast transaction speeds and incentives for active participation. However, it navigates challenges such as fierce competition and high entry barriers for validators, alongside security concerns due to the absence of penalties for misbehaving validators.

Polygon MATIC

Recently, Polygon (MATIC) caught everyone’s attention due to a massive whale transaction, where a whopping 26 million MATIC tokens were transferred to Coinbase. This move significantly shook up Polygon’s price and its market dynamics, leading to a swift dip and a quick recovery. 

However, gaining strong momentum remains a challenge for MATIC. Despite the price fluctuations between $0.592 and $0.957, with the 10-day and 100-day Moving Averages indicating a slight upward trend, the Relative Strength Index suggests the market might be a bit overheated.

As we dive deeper, we notice the market’s sensitivity to large transactions, reflected in the current trend of more funds leaving than entering. This could point to a period of market consolidation. 

Key support and resistance levels highlight the potential for volatility, yet the long-term outlook and adoption of Polygon’s layer-2 solutions will play crucial roles in defining its future market position. Essentially, understanding market sentiment and the impact of significant players is crucial for navigating the highs and lows of Polygon’s journey.

Dogecoin DOGE

Dogecoin, originally conceived as a playful spin on Bitcoin, has evolved beyond its joke origins to capture the hearts of investors worldwide, largely thanks to its association with the beloved “Doge” meme. 

This unique foundation has not only sustained its relevance in the cryptocurrency market but also rallied a vibrant and dedicated community around it, including high-profile endorsements from figures like Elon Musk and Vitalik Buterin. 

However, it’s crucial for investors to remember that Dogecoin remains a memecoin at its core, lacking intrinsic value and practical applications, relying solely on community support for its valuation. 

Furthermore, Dogecoin’s unlimited supply poses a risk of inflation, diluting its value over time. This blend of cultural impact and economic considerations makes Dogecoin a unique yet speculative investment that demands careful consideration.

Shiba Inu SHIB

Shiba Inu (SHIB) emerged on the cryptocurrency scene with the ambitious aim to surpass Dogecoin’s success, drawing inspiration from the same Shiba Inu dog breed and enjoying a surge in popularity thanks to Elon Musk’s influence. 

Unlike typical memecoins, Shiba Inu has evolved into an expansive ecosystem, featuring its own decentralized exchange (ShibaSwap), a project incubator, additional tokens (LEASH and BONE), and even a Shiba Inu Rescue Association. 

Its status as a top pick for short-term investment opportunities in the crypto market is attributed to its high liquidity, volatility, and the hype that surrounds it. A notable instance of its hype-driven success was when Elon Musk’s announcement of acquiring a Shiba Inu dog sent the SHIB token’s price soaring by nearly 300%. 

The key to capitalizing on SHIB for short-term gains lies in staying abreast of the latest news and monitoring its social media buzz closely. Given its low cost per token and frequent price fluctuations within a narrow range, SHIB is particularly appealing for scalping strategies. 

The combination of its volatility, liquidity, and susceptibility to public sentiment positions SHIB as an attractive choice for investors looking for short-term gains in the cryptocurrency market.

ApeCoin APE

ApeCoin (APE) is the native token of the Bored Ape Yacht Club (BAYC) NFT collection, which is widely known in the NFT space. It’s often recommended for short-term investment due to its versatility and liquidity. APE serves various purposes within the BAYC ecosystem, such as providing incentives, access, payments, and governance.

The value of ApeCoin tends to fluctuate significantly, especially in response to events within the crypto industry. Its connection to the popular BAYC NFT collection means that any news affecting the collection could impact APE’s price.

For traders looking for short-term gains, ApeCoin is considered a favorable option, as its price often experiences notable swings, ranging from a few cents to several dollars. However, profiting from APE requires considerable effort, much like any other short-term investment in cryptocurrencies.

 

ApeCoin is favoured by many traders for short-term investment due to the widespread popularity of the Bored Ape Yacht Club NFT collection and the volatility of APE’s price.

Cardano ADA

Cardano is a decentralized blockchain project aimed at facilitating peer-to-peer transactions through an open-source platform. It incorporates smart contracts into its structured architecture, ensuring scalability and adaptability while maintaining robust security measures.

Its Proof-of-Stake (PoS) algorithm is considered more energy-efficient than Ethereum’s Proof-of-Work (PoW) system, leading to lower transaction costs and reduced environmental impact. The platform is designed to handle a high volume of transactions per second, making it highly scalable for decentralized applications (DApps) and smart contracts.

Cardano employs the Haskell programming language, known for its safety features, to ensure a secure environment for complex smart contracts and DApps, thereby enhancing overall platform security.

However, despite its advantages, Cardano is relatively new and has not yet achieved widespread adoption compared to platforms like Ethereum, resulting in fewer available DApps and smart contracts. Making a profit from ADA involves significant effort, similar to other short-term investments in cryptocurrencies.

Critics also argue that while Cardano is decentralized to some extent, concerns have been raised regarding token distribution and governance within the platform.

Types of Short Term Trading 

Short-term trading can be categorized into three main types: scalp trading, day trading, and swing trading. 

• Scalp Trading: Scalp trading involves buying and selling crypto within very short time frames, typically from 1 to 15 minutes, to profit from small price movements ranging from 1% to 3%. This strategy requires making numerous trades per day and relies on high market volatility.
• Day Trading: Day trading, similar to scalp trading but focusing on higher price movements, operates within time frames from 15 minutes to 1 day. Profits usually range from 5% to 15%. Day traders make fewer trades per day compared to scalpers and aim to close all positions by the end of the day. They rely on technical analysis and crypto news to capitalize on market trends.
• Swing Trading: Swing trading targets even higher price movements over longer time frames, ranging from a couple of days to a few weeks. Profits can range from 15% to 100%. This strategy involves making fewer trades, typically a couple per month, and requires advanced technical and fundamental analysis skills.

While scalp trading offers quick profits without extensive analysis, it demands significant time investment. Day trading yields quick profits too but requires technical and fundamental analysis and is moderately time-consuming. Swing trading, while the least time-consuming, offers the potential for significant profits but demands advanced analysis skills and carries higher risk.

Factors to Consider for Short Term Crypto Investment

Short-term cryptocurrency investments, which typically involve holding assets for a few days to a few months, require careful consideration due to the volatile and unpredictable nature of the crypto market. Here are several key factors that investors should consider:

• Accessibility: A cryptocurrency’s availability across various exchanges, both centralized and decentralized, is crucial. We also considered whether it can be directly traded with fiat currencies, simplifying the buying and selling process.
• Market Cap: All the cryptocurrencies listed among the best are within the top 100 by market capitalization. While a high market cap doesn’t necessarily mean the project is superior, it indicates significant community interest and resilience to market manipulation due to the substantial capital required.
• Sector Leadership: The cryptocurrency market comprises various sectors like Proof-of-Work, Proof-of-Stake, decentralized finance, non-fungible tokens, etc. We aimed to showcase leading projects in each sector to demonstrate the diversity in the crypto and blockchain space.
• Functional Products: Highlighted cryptocurrencies must have a working product rather than relying solely on promises. We prioritize coins with a functioning mainnet and tokens with utility in operational products or governance in active decentralized protocols. Occasionally, we feature upcoming projects, but only those highly anticipated by the community.
• Team and Development: Projects led by transparent, qualified teams receive preference. Active development is also valued, as ongoing progress indicates commitment. While anonymity among project founders isn’t always a dealbreaker, transparency is generally favoured.
• Market Volatility: Cryptocurrencies are known for their high volatility. Short-term investors need to be prepared for sudden and significant price movements. Understanding historical volatility patterns of specific cryptocurrencies can be beneficial.
• Liquidity: Liquidity refers to how easily a cryptocurrency can be bought and sold at stable prices. High liquidity means that transactions can be executed quickly and at predictable prices, which is crucial for short-term trading.
• Market Trends and Sentiment: Short-term crypto investments often rely on the ability to anticipate market movements based on current trends and the overall market sentiment. This requires staying informed about news, technological developments, regulatory changes, and community sentiment, which can all influence prices.
• Technical Analysis: Many short-term investors use technical analysis, which involves studying price charts and trading volumes to identify patterns and predict future movements. Knowledge of technical indicators, such as moving averages and resistance levels, is important for making informed decisions.
• Fundamental Analysis: Although more commonly associated with long-term investing, fundamental analysis, which assesses the intrinsic value of a cryptocurrency based on news, industry developments, technological advancements, and the broader economic environment, can also be useful for short-term investors to gauge market sentiment.

Current State of 2024 Crypto Market

The 2024 crypto market is expected to continue its upward trajectory, according to experts. While growth has been steady, it’s anticipated to surge this year as more businesses adopt digital currency. 

Ethereum, in particular, has seen significant popularity, inching closer to mainstream acceptance each day, despite concerns about potential capacity limitations and high fees. Cryptocurrencies, including Ethereum, are increasingly resembling traditional cash in terms of popularity and usage, making spending them in stores and online more accessible. 

Alongside this, emerging trends such as GameFi, where gaming intersects with decentralized finance, are gaining prominence. Projects like Pikamoon, a new entrant in the GameFi space, are launching, adding to the diversification of the crypto verse.

Experts also predict that a wider range of industries will be inclined to engage with crypto, as concerns about past exchange scandals and scams diminish over time and new security measures emerge. These developments may prompt large corporations to reconsider their stance on crypto, even if they had previously abandoned it.

Conclusion

That’s it! Now you understand what short-term crypto trading is, which cryptocurrencies are good for short-term gains, and how to get started. Just choose a reliable crypto exchange and begin trading! Remember, the crypto market is highly volatile and unpredictable. 

What’s a top-performing asset today might not be tomorrow. Trading carries significant risk, so only invest what you can afford to lose. Meanwhile, Pikamoon offers an interesting investment opportunity by combining meme coin appeal with GameFi. Its upcoming launch and unique features suggest it could be influential. With a transparent team, active community, and innovative gaming products, Pikamoon stands out.

Also, always do your own research (DYOR), carefully analyze the crypto market, and stay updated on industry news and trends.

FAQS

What is the difference between short-term and long-term crypto investments?

Short-term crypto investments typically involve holding assets for a few days to a few months, aiming to profit from quick price movements in the market. On the other hand, long-term investments involve holding assets for an extended period, often years, with the expectation of significant growth over time.

How do I choose the right cryptocurrency for short-term investment?

When selecting a cryptocurrency for short-term investment, consider factors such as volatility, liquidity, market trends, team transparency, project fundamentals, and technical analysis indicators. It’s essential to research each project thoroughly and stay updated on market developments.

What are some common short-term trading strategies?

Short-term trading strategies include scalp trading, day trading, and swing trading. Scalp trading involves making numerous trades within very short time frames to profit from small price movements. Day trading focuses on higher price movements within a single day, while swing trading targets larger price movements over several days to weeks.

What makes Pikamoon stand out among other cryptocurrencies for short-term investment?

Pikamoon distinguishes itself through its innovative approach to GameFi, combining meme coin appeal with tangible gaming products. Its successful presale launch, strong community support, and transparent team contribute to its appeal as a short-term investment opportunity.

How can investors stay informed about Pikamoon’s progress and upcoming developments?

Investors can stay updated on Pikamoon’s progress by following its official social media channels, joining its community forums, participating in developer updates, and monitoring news outlets covering the cryptocurrency and gaming industries. Additionally, attending Pikamoon-sponsored events or webinars may provide insights into its future roadmap and potential growth opportunities.

How can I manage the risks associated with short-term crypto investments?

To manage risks in short-term crypto investments, diversify your portfolio, only invest what you can afford to lose, set stop-loss orders to limit potential losses, stay informed about market trends and news, and consider using technical and fundamental analysis to make informed decisions.

What should I consider before investing in a specific cryptocurrency?

Before investing in a cryptocurrency, consider factors such as its market cap, sector leadership, functional products, team transparency and experience, market volatility, liquidity, current market trends and sentiment, as well as technical and fundamental analysis indicators.

Is short-term crypto trading suitable for beginners?

Short-term crypto trading can be challenging and involves significant risks due to the market’s volatility. Beginners should start with caution, thoroughly research each project, gain an understanding of trading strategies and market dynamics, and consider seeking advice from experienced traders or financial advisors.

Are there any regulatory risks associated with short-term crypto investments?

Regulatory risks can impact the cryptocurrency market, especially regarding the legality of certain tokens, taxation, and regulatory scrutiny. Investors should stay updated on regulatory developments in their jurisdiction and consider how regulations may affect their investment decisions.

How can I stay updated on market trends and news relevant to short-term crypto investments?

To stay informed, follow reputable cryptocurrency news websites, join online communities and forums, follow influential figures in the crypto space on social media platforms, and utilize cryptocurrency tracking apps or platforms for real-time market data and analysis.

Can I use short-term crypto investments as a supplement to my income?

While some traders may generate profits from short-term crypto investments, it’s essential to recognize that trading involves risks, and there are no guarantees of profits. Short-term trading should not be relied upon as a primary source of income and should be approached with caution and proper risk management.

What resources can I use to learn more about short-term crypto trading?

There are various resources available for learning about short-term crypto trading, including online courses, books, tutorials, webinars, and mentorship programs. Additionally, participating in trading communities, attending crypto conferences, and practicing with demo accounts on trading platforms can help improve trading skills.