These are the 5 best performing coins of 2024

As 2024 approaches its home stretch, the crypto market has seen some notable artists who have challenged volatility and made remarkable gains. These top-performing coins have achieved their status through strategic developments, adoption milestones, and increasing buying pressure, fueling notable price increases.

In this analysis, BeInCrypto unveils the top five cryptocurrencies of 2024 and reveals the factors that propelled their success. The article also tests whether these assets can maintain their momentum and make similar progress in 2025.

MANTRA (OM)

OM, the native token of the MANTRA layer 1 blockchain, is at the top of the best performing altcoins in 2024. This year, The price of MANTRA has increased by 9,445%. This massive price increase could be linked to the growing demand for coins related to the real-world asset (RWA) narrative, which MANTRA fits into.

For many, RWA has the potential to unlock wealth for investors around the world. As a result, MANTRA has engaged in several collaborations, which has increased the demand for OM. At the start of the year, the OM price was around $0.040.

However, it reached an all-time high of $4.60 on December 11. Currently, OM is down 22.25% from that high and trading at $3.58. On the daily chart, OM reaches a new all-time high almost every time it breaks out of a descending triangle.

As we saw above, this happened in June. A similar situation also occurred between November and December. With the token forming a similar trend, there is a chance that it will rise again. If this happens, the price could reach $5.50 in the first weeks of 2025.

However, if the demand for RWA tokens decreases, this might not happen. Instead, the value could fall below $2.50.

Mog Coin (MOG)

Mog Coin is second on the list of best performing coins in 2024. MOG is an Ethereum-based meme coin that has increased in price by 5,337% this year. For context, the Ethereum blockchain hasn’t had many coins this year.

But for MOG, he stood out and achieved a record level from $0.0000040 on December 6. At press time, the token is trading at $0.0000022 and has recently fallen 47.70% from that high.

From a technical perspective, the daily chart shows that the Awesome Oscillator (AO) has fallen into the negative region. AO uses recent and historical price movements to measure momentum.

When the reading is positive, the momentum is bullish. But since it is negative, the momentum around MOG is bearish. If it holds, the value of the meme coin could drop to $0.0000016. However, if buying pressure increases, the forecast could be invalidated in the short term.

Popcat (POPCAT)

Another meme coin on the list of top performing coins of 2024 is POPCAT. As the name suggests, POPCAT is a cat-themed coin. But unlike MOG, it is built on Solana.

This year, the value of POPCAT increased by 3,169%. However, at first it was more than that, especially during the second quarter of the year.

But a notable sell-off brought the price of the coin down even to $0.73.

At $0.73. POPCAT is down 64% from its all-time high of $2.05. On the daily chart, the token appears close to the oversold zone. Indeed, the relative strength index (ROI), which measures momentum, is down at 32.20.

As a reminder, a cryptocurrency becomes overbought when the RSI reaches 70.00 or more. It is oversold when it drops below 30.00. It therefore appears that the Solana meme piece nearing the end of its correction.

If validated, the coin’s value could rebound as high as $1.28 as long as buying pressure kicks in. Over the coming year, the meme coin’s value could be higher if demand continues to increase. However, if the market as a whole falls into a down cycle, this might not be the case.

Aerodrome Financing (AERO)

AERO, the governance token of Aerodrome Finance, an automated market maker (AMM) and decentralized exchange (DEX), has become one of the best performing cryptocurrencies in 2024.

Built on the Base network, AERO has gained ground due to the widespread adoption of the Coinbase Layer-2 solution.

Additionally, the token’s rise was amplified by a key development: Binance listing AERO on its perpetual market. This listing has significantly improved liquidity and affordability, contributing to a staggering 1,981% annual price increase.

Currently, AERO’s price is $1.47, with the daily chart showing significant support around $1.05. Despite this, the Moving Average Convergence Divergence (MACD) has fallen into the negative region.

This drop indicates bearish momentum around the token. If the momentum remains bearish, AERO price could drop to $1.07 in the near term. Failing to defend the $1.05 support could make the situation worse as the value could drop to $0.89.

On the other hand, if the bulls defend the support at $1.05, the trend could change. In this regard, the altcoin could rise towards $3.

AIOZ Network (AIOZ)

AIOZ is fifth on the list of top performing coins of 2024. Year to date (YTD), AIOZ price has increased by 624.40%. This price increase could be linked to the fundamentals of the project around Artificial Intelligence (AI) and the Decentralized Physical Infrastructure Network (DePIN).

AI and DEPIN held their place as one of the strong narratives of 2024. Thus, a combination of both sectors ensured that AIOZ price soared to a yearly high of $1.20.

Despite being one of the best performing cryptos of the year, the daily chart shows that AIOZ has fallen below the 20-period exponential moving average (EMA) in blue and is about to slide into below the 50 EMA (yellow).

If the altcoin price falls below 50 EMA, then AIOZ could face a prolonged correction to $0.58. On the other hand, an increase above these indicators could invalidate this thesis, and the price could rise towards $2.