These tokens under $1 can soar in 2023

1. Shiba Inu

Shiba Inu is a meme coin (a joke coin with a lovable character icon) that was launched in August 2020 as a parody of its great predecessor, Doge, a meme coin that has quickly gained a following since its release with the goal of becoming the leading decentralized coin in order to take the place of the ever-popular Doge coin.

The secret behind the popularity of SHIBs is their low price, which at the time of this writing is about $0.000009954, making them an attractive "affordable investment" for newcomers to the virtual currency market, but the wise reader knows that a low price per SHIB does not mean it is a cheap and affordable investment.

SHIBs have certainly attracted the attention of many investors, but what about SHIBs, which, in any honest virtual currency, would have the utility and utility to drive their price? Now that SHIBs are a speculator's toy, their price volatility is inexplicably high, and their huge total issuance of 589 trillion tokens poses a risk of near-term inflation that may linger in price formation over the long term.

2. RenQ Finance (RENQ)

RenQ Finance is a decentralized finance (DeFi) platform that aims to provide a one-stop shop for various fintech services, including lending, borrowing, and staking The platform is built on the Ethereum blockchain and operates on its native token, RENQ.

RenQ Finance is clearly distinct from other DeFi platforms, most notably its emphasis on community governance: the platform is fully decentralized, with decisions made by the community rather than by centralized, authoritarian control, making it an attractive option for investors seeking a more democratic approach to finance.

RenQ Finance is making great strides in practical trials and technology partnerships: the platform has already formed partnerships with many major blockchain projects and raised over $15 million in presales; with these partnerships and funding, RenQ Finance will continue to expand its services and attract more users.

RenQ Finance is currently in the final stage of its presale, selling for $0.055, 150% higher than the initial presale price of $0.02. RenQ Finance has attracted tremendous interest from investors, and the project has already sold out quickly in its seven presales; this final stage could also sell out within days, which could bring the launch of RenQ Finance about two months ahead of schedule.

3. Cardano (ADA)

Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) in 2015, designed as a third-generation blockchain platform that could offer scalability, interoperability and sustainability.

One of the features that distinguishes Cardano from other blockchain platforms is its scientific approach to development: the project is led by IOHK, a high-tech company with a research team composed of academic researchers who contribute peer-reviewed papers as deliverables to the development of blockchain technology.

Cardano's development is based on the design principles of "scalability," "interoperability," and "sustainability," and the project is built on the more energy-efficient proof-of-stake consensus algorithm rather than the proof-of-work algorithm employed in Bitcoin and other early virtual currencies.

In addition, Cardano has successfully implemented smart contracts on its platform, an essential feature for building decentralized applications and enabling DeFi functionality; the project's native token, ADA, is used for transaction fees and staking rewards, making it an indispensable part of the Cardano ecosystem.