Every cryptocurrency investor or crypto enthusiast is aware of the fact that the crypto market is volatile. However, there are some crypto coins that are highly volatile, which means you may get instant profits or abrupt losses at extreme levels.
Do you want to have a brief view of the prices of various crypto coins? If yes, it is better to visit OKX, which depicts the latest prices of cryptocurrencies. In addition, it can help you understand which crypto coins are experiencing extreme volatility.
Top 8 New Cryptocurrencies That Have Highest Volatility
In general, the crypto market itself is unstable, but the below-listed new crypto coins show volatility at peak levels, which is considered a risky investment.
1. Shiba Inu (SHIB)
Shiba Inu, a well-known meme coin, is a highly volatile cryptocurrency with accumulated volatility of 30230007%. SHIB is the Shiba Inu ecosystem’s coin that was introduced in the mid-2020s with a very low initial value. As a result, it has a lot of room for expansion and also volatility.
SHIB’s launch on major exchanges in 2023 increased its market valuation and helped the coin set new records. With Elon Musk’s tweet about his new Shiba Inu dog, the price has surged greatly. Only on the first day of the month, this cryptocurrency had increased by 300 percent.
2. RED KISHU
Here is one of the newest cryptocurrencies which experiences volatility at extreme levels. Red Kishu is a deflationary coin that levies fees on all transactions except purchases. The fees levied on all non-buy transactions are used to reward and safeguard all the accounts of Red Kishu’s holders.
This cryptocurrency reached an all-time high of $0.000000000034 on Nov 18, 2023. Right after two days, that is on, Nov 20, 2023, it has reached an all-time low value. With that, we can understand how unstable this crypto coin is.
3. MultiStarter (MSTART)
MultiStarter cryptocurrency is also a new crypto that has an unstable coin value. For instance, one day the investment will result in positive profits, and the next day, it may fall into huge losses. The all-time high price of MSTART is $0.03346228 (Jan 07, 2023), and the all-time low value of this crypto coin is $0.00075422 (recorded on Feb 24, 2023).
The next one is Gala which is an Ethereum token that has grown popular due to its capacity to power Gala games. In 2023, this Ethereum-based crypto coin provided investors with tremendous gains, up to 32000 percent (from the beginning to the ending of the year). Due to the sudden surge of value, it is considered a highly volatile crypto. In addition to that, Gala Game is a blockchain gaming platform.
5. Polygon (MATIC)
MATIC is the Polygon network native token, and it has achieved 7462 percent volatility in 2023. The token’s value is $0.0018 at the beginning of 2023. It had already reached $0.043 in a little less than 30 days. After a period of fluctuation, the price jumped to $0.77 in May and reached a new high of $1.70 in the month of June. Its future trajectory is similar to that of other cryptocurrencies, with a sharp drop in value and a subsequent rise in value, making it more volatile.
6. Nodeseeds (NDS)
Nodeseeds cryptocurrency has NDS as its crypto token which is another digital token with high volatility. The total market cap is $1,803,237, and the present-day value of one coin is $32.79 (April 8, 2023). It features a limited supply of 100,000, and 55,000 tokens are already in circulation. The all-time highest value of this coin is $341.69, and the lowest value is $24.96.
7. Axie Infinity (AXS)
AXS is an Ethereum token used to power Axie Infinity, which is a blockchain-based game. Users can combat, collect, and develop a digital empire for their pets in this game. AXS has evolved into a non-fungible token (NFT) that can be utilized in games or sold in a marketplace. This crypto coin has witnessed a lot of volatility and it has also generated a lot of money for its investors.
8. Safeswap (SSGT)
Safeswap is another digital currency with SSGT as its token that shows price fluctuations more often. It has a total market cap of $536,077 with a $2,357,875 fully diluted valuation. This crypto coin retains a limited supply of 210,000,000, and 47,744,778 tokens are already being circulated.
Why Are Cryptos So Volatile?
There are plenty of reasons because of which the value of cryptocurrencies is relatively unstable. Here, we have listed the primary reasons that explain why the crypto market is highly volatile.
- The fact that cryptos are new is the fundamental cause of their volatility. All new ideas take time to stabilize and become accepted, and cryptocurrencies are no exception.
- When a well-known personality acquires a specific crypto coin, the price of that digital currency tends to climb. The volatility is deepened. by such influential events or personalities.
- Trading is currently very risky due to the lack of information and rules. Investors make speculative wagers on whether prices will rise or fall, resulting in a quick inflow or outflow, resulting in significant volatility.
- Unlike other assets that are governed or managed by a third party, cryptocurrencies are not regulated by any company, which increases the risk of volatility.
- Using sentiment and emotions while investing in digital coins makes it more unstable.
- Because of the restricted supply, a few entities own significant crypto holdings and may affect the rise and fall of crypto markets by selling or purchasing more. It increases the price volatility.
After thorough research and analyzing various crypto coins over the course of time, we have come to know which cryptocurrencies show high volatility. We have included all the new crypto coins that are extremely unstable, which means you may gain high profits within minutes or lose your investments in just seconds.