As 2024 approaches its final stretch, the crypto market has witnessed standout performers that defied volatility and delivered remarkable gains. These top-performing coins achieved their status due to strategic developments, adoption milestones, and surging buying pressure, fueling notable price hikes.
In this analysis, BeInCrypto unveils the top five cryptocurrencies of 2024 and reveals the factors that propelled their success. The piece also checks whether these assets can maintain their momentum and make similar strides in 2025.
MANTRA (OM)
OM, the native token of layer-1 blockchain MANTRA, is at the crest of the top-performing altcoins in 2024. This year, MANTRA’s price has increased by 9,445%. This massive price increase could be linked to the rising demand for coins linked to the Real-World Assets (RWA) narrative, under which MANTRA falls.
For many, RWA has the potential to unlock wealth for investors globally. As a result, MANTRA engaged in several collaborations, which increased demand for OM. At the beginning of the year, OM’s price was around $0.040.
However, it climbed to an all-time high of $4.60 on December 11. Currently, OM is down 22.25% from that peak and trades at $3.58. On the daily chart, OM hit a new all-time high almost every time it breaks out of a descending triangle.
As seen above, this occurred in June. A similar thing also took place between November and December. With the token forming a similar trend, there is a chance it could surge again. If that happens, then the price might surge to $5.50 within the first few weeks of 2025.
However, if demand for RWA tokens declines, this might not happen. Instead, the value could shrink below $2.50.
Mog Coin (MOG)
Second on the list of the top-performing coins in 2024 is Mog Coin. MOG is an Ethereum-based meme coin whose price has increased by 5,337% this year. For context, the Ethereum blockchain did not have many breakout meme coins this year.
But for MOG, it stood out and reached an all-time high of $0.0000040 on December 6. At press time, the token trades at $0.0000022 and recently dropped 47.70% from that peak.
From a technical point of view, the daily chart shows that the Awesome Oscillator (AO) has dropped to the negative region. The 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 sustained, the meme coin’s value could decline to $0.0000016. However, if buying pressure increases, the prediction might 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 implies, POPCAT is a cat-themed meme coin. But unlike MOG, it is built on Solana.
This year, POPCAT’s value has increased by 3,169%. However, it was initially more than this, especially during the second quarter of the year.
But, a notable sell-off has forced the meme coin’s price down to $0.73.
At $0.73. POPCAT is 64% down from its all-time high of $2.05. On the daily chart, the token seems close to the oversold region. This is because the Relative Strength Index (RSI), which measures momentum, is down to 32.20.
For context, a cryptocurrency becomes overbought when the RSI hits 70.00 or above. It is oversold when it slides below 30.00. Therefore, it appears that the Solana meme coin is nearing the end of its correction.
If validated, then the coin’s value could bounce toward $1.28 as long as buying pressure comes in. In the coming year, the meme coin’s value could be higher if demand continues to surge. However, if the broader market falls into a bear cycle, this might not be the case.
Aerodrome Finance (AERO)
AERO, the governance token of Aerodrome Finance, an Automated Market Maker (AMM) and decentralized exchange (DEX), has emerged as one of the top-performing cryptocurrencies in 2024.
Built on the Base network, AERO gained significant traction 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 significantly boosted liquidity and accessibility, contributing to a staggering 1,981% yearly price increase.
Currently, AERO’s price is $1.47, with the daily chart showing significant support around $1.05. Despite that, the Moving Average Convergence Divergence (MACD) has dropped to the negative region.
This decline indicates bearish momentum around the token. Should momentum remain bearish, AERO’s price might drop to $1.07 in the short term. Failure to defend the $1.05 support might make things worse, as the value could slide to $0.89.
On the flip side, if bulls defend the support at $1.05, the trend might change. In that aspect, the altcoin could rally toward $3.
AIOZ Network (AIOZ)
AIOZ is fifth on the list of the top-performing coins of 2024. Year-to-date (YTD), AIOZ’s price has increased by 624.40%. This price increase could be linked to the project’s fundamentals around Artificial Intelligence (AI) and Decentralized Physical Infrastructure Network (DePIN).
Both AI and DePIN have held their ground as one of the solid narratives of 2024. Thus, a combination of both sectors ensured that AIOZ’s price climbed to a yearly high of $1.20.
Despite being one of the top-performing cryptos of the year, the daily chart shows that AIOZ has dropped below the 20-period Exponential Moving Average (EMA) in blue and is on the verge of slipping below the 50 EMA (yellow).
If the altcoin’s price drops below the 50 EMA, then AIOZ might face an extended correction to $0.58. On the other hand, a rise above these indicators could invalidate this thesis, and the price might rally toward $2.
