The leading cryptocurrencies priced under $1 encompass XRP, Cardano, and Artificial Superintelligence Alliance (ASI).

There’s no denying the recent buzz surrounding Dogecoin, particularly with rampant speculation that Tesla might once again accept it as a form of payment. Dogecoin has seen a 10% rise this year, prompting some crypto investors to believe it could potentially increase tenfold in value, reaching the coveted $1 mark.

However, at its core, Dogecoin remains a meme coin. There are arguably better investments available, all trading for $1 or less. The three budget-friendly cryptos currently on my radar are XRP (XRP -2.82%), Cardano (ADA 0.13%), and Artificial Superintelligence Alliance (ASI). Let’s delve deeper into each of these.

First up is XRP, a long-time favorite among crypto investors. This crypto token has the potential to double in value following the resolution of its legal case with the SEC earlier this summer. Ripple Labs, the company behind XRP, settled the case by paying $125 million in civil penalties, a far cry from the $2 billion the SEC was reportedly seeking. Many XRP supporters view this outcome as a significant victory.

In a base-case scenario, XRP could resume normal operations, potentially driving its price past the $1 threshold. Currently trading around $0.60, this represents a potential 70% gain by year’s end. In an optimistic scenario, some analysts speculate that a successful IPO by Ripple Labs could catapult XRP’s value to $7 or higher.

Of course, these projections should be taken with caution. XRP has seen a 3% drop over the past 30 days and a 10% decline year-to-date. Clearly, there are concerns about XRP’s future upside, even with its regulatory hurdles seemingly resolved.

Next, we have Cardano, which has been significantly undervalued recently. Cardano has dropped 13% over the past 30 days and 44% year-to-date. On paper, these figures make Cardano appear to be a poor investment choice at present.

Nonetheless, Cardano continues to be one of Ethereum’s top competitors and boasts a dedicated community of developers and supporters. Advocates argue that Cardano’s blockchain technology is superior and continues to set performance benchmarks for other blockchains. For instance, Cardano’s recent technological upgrade, known as the Chang hard fork, positions it to become the first-ever fully decentralized blockchain.

The critical question is whether this upgrade holds significance for investors, who often prioritize speed and performance enhancements over decentralization. Yet, Cardano co-founder Charles Hopkinson (who also co-founded Ethereum) asserts that this technological achievement surpasses anything Bitcoin has accomplished: “This dwarfs Bitcoin. It’s unique, and books will be written about what has happened.” Despite his enthusiasm, the market remains largely indifferent for now.

Lastly, my top budget pick is Artificial Superintelligence Alliance (ASI), an AI crypto token currently trading just above $1. This token has surged nearly 75% year-to-date and holds substantial potential for further growth due to the burgeoning AI sector. Presently, ASI ranks as the 28th largest cryptocurrency with a market cap of $3 billion.

If you’re unfamiliar with ASI, it’s understandable. This token emerged from the merger of three prominent AI crypto tokens: Fetch.ai, SingularityNET, and Ocean Protocol. The objective of this merger is to create a unified AI crypto token with the ticker symbol ASI by the end of the merger process. Theoretically, this should simplify investing in AI crypto tokens.

However, the process has proven to be more complex than anticipated since the merger was first announced in March. As of July 1, SingularityNET and Ocean Protocol tokens were consolidated into Fetch.ai tokens, but the Fetch.ai tokens have yet to convert into ASI tokens—a task slated for phase two of the merger process.

Feeling confused? It’s understandable—this complexity might explain why Coinbase Global announced in June that it would not support the conversion of these tokens into ASI. There is a workaround involving swapping tokens between different crypto exchanges and your digital wallet.

The key takeaway is that investing in cryptocurrencies priced under $1 requires thorough due diligence. This applies to Dogecoin, XRP, Cardano, and ASI as well since it trades just above $1. As you might know from shopping experiences, bargain bin items often have some sort of defect.

That said, you might discover a hidden gem among these coins. For instance, Cardano could potentially outperform Ethereum in the long run. Similarly, ASI might emerge as the best investment to capitalize on the AI boom. Nonetheless, ensure you conduct comprehensive research before making any substantial investment decisions.