The crypto market is currently in an exciting place, with signs that the industry is finally emerging from the crypto winter and heading towards another bull market. New tokens are being launched almost every day to solve real-world problems using blockchain technology.

Some new tokens see huge gains in a short span of time, with one of the most famous recent examples being Pepe, with one early investor seeing a $260 investment rise to $8 million.

The challenge for crypto investors is to determine which of these new projects has the potential to deliver significant returns. In this guide, we’ll highlight the best new cryptocurrencies to invest in for 2023.

How We Picked the Best New Crypto Launches to Buy

When selecting the best new cryptos to buy today, we considered several key factors that could boost their adoption and price.

To make our list, new cryptos needed to demonstrate an original value proposition, sufficient online visibility and community engagement, a clear business strategy for project growth, and genuine potential for price gains.

We sourced information from the different coins’ websites and social media channels. We also used third-party data sources such as CoinMarketCap, DEXTools, PooCoin, and more. Finally, we talked to crypto analysts and investors and scanned social media to find out which coins are hot and which aren’t.

Token Utility and Innovation

In the world of crypto, original ideas that serve a genuine need have the highest sticking power.  Anyone can mint a new token and start selling it online. But to gain any real traction, new coins need to offer something new and different.

The native tokens of the respective platforms, YPRED and TUK, are known as “utility tokens” because they are used to carry out some platform-specific function and can’t be replaced by another cryptocurrency.

Some projects have grand plans to change the world as we know it, while others are focused on smaller improvements to make everyday life a bit easier.

eTukTuk is the first electric vehicle charging solution to make use of BNB chain’s “opBNB” layer two solution, which uses cutting-edge optimistic rollups to scale functionality and reduce gas fees on the blockchain.

Many new projects and decentralized apps (dApps) are built on Ethereum, a layer-1 blockchain, and the second-largest crypto after Bitcoin.

Its popularity, speed and efficiency mean it is the top network for dApp builders, with projects having a combined worth (TVL – Total Value Locked) of almost $23 billion, according to DeFiLlama.

All that said, not every coin has to serve a real-world purpose to create returns for investors. Meme coins famously have no utility. $PEPE, for instance, jumped almost 10,000% earlier this summer despite having no purpose other than providing some laughs.

Originality

Beyond utility tokens, originality isn’t limited to technical innovation, it can also take the form of imaginative novelty. Our list of new cryptocurrencies includes coins that fall into both categories.

In the past, the best meme coins like Dogecoin, Shiba Inu and $PEPE  have generated a significant return on investment without being associated with a new technology platform or developing any new use cases.

Instead, meme coins typically rely on a well-designed website, original marketing strategies and community support to attract investors – sometimes to incredible results.

However, there have been more failures than successes in the meme coin world, which has been likened to buying a lottery ticket. The nature of investing in that particular niche makes research all the more important.

Crypto Whitepaper and Roadmap

When assessing the quality and potential of new crypto projects, it’s important to pay attention to each project’s website, whitepaper and roadmap.

A crypto project’s whitepaper explains what the project is about, how its tokenomics work, and more. From the whitepaper, investors should have a clear sense of what gap the token is filling and how it’s different from existing projects.

Reading project whitepapers can also help investors identify red flags that a project hasn’t been properly thought through. Any contender for the best new crypto to buy should clearly articulate the project’s vision and tokenomics.

The whitepaper also includes a project’s roadmap. This lays out a timeline of development for a token, and usually includes estimated dates for its presale launch, ICO, and major events like token burns. Depending on the specific project, roadmaps might also outline related product launches such as staking opportunities, NFT mints or airdrop promotions.

A good roadmap should give concrete time estimates for how long developments will take. Roadmaps can be ambitious, but they should also be realistic in their projections.

Community Activity

Community engagement is critical for the continued success of any new crypto – cryptocurrencies don’t just attract investors out of nowhere.

An active community of supporters is needed to generate the all-important social media buzz that gives new coins visibility and draws investment.

The meme coins on our list of new cryptos to watch, such as Wall Street Memes (WSM), benefit from large pre-existing communities that they are able to tap into.

The r/WallStreetBets subreddit has over 14 million members and Wall Street Memes, an offshoot, has gathered more than a million followers across its social media pages.

The size of projects’ social media following was also taken into account, as was their track record for communicating with users and investors.

However, as outlined in more detail below, followers can be bought so high engagement plus a large following is a truer indicator of community interest.

Marketing and Social Engagement

It would be almost impossible for any new cryptocurrency release to succeed without a solid marketing strategy.

Accordingly, we considered factors such as marketing spend and social engagement when researching the best new cryptocurrency to buy.

Social engagement metrics such as likes often have a strong correlation with cryptocurrency prices. For example, when the $PEPE token surged by over $250% in 24 hours in early May, it was accompanied by a huge spike in the volume of tweets referencing the meme coin.

Famously, billionaire Elon Musk helped DOGE pump to all-time highs in early 2021 by regularly posting about the token, as well as appearing on Saturday Night Live.

His takeover of Twitter, which has now been rebranded X, also allowed DOGE to pump in late October 2022, while an April Fool’s Joke where he changed the logo to a Shiba Inu doge, also saw huge volume for DOGE.

Musk has since been named in a class-action lawsuit accused of manipulating the price of Dogecoin.

Price Performance and Potential Returns

Finally, it wouldn’t be a satisfactory guide on the best new cryptocurrency to buy without an assessment of the potential returns offered by each token.

Some new crypto projects include price targets in their roadmaps. For example, the team behind WSM intends to achieve a market capitalization of $1 billion. Although investors should keep in mind that coin developers are prone to outlandish predictions, having an ambitious roadmap that incorporates a target price is a good starting point.

Of course, many of the coins on this list are still in their presale phase or have only just hit the open market. Without historical price data, it is difficult to carry out the kind of statistical analysis normally used in forecasting.

That being said, the speed with which coins like $YPRED sold out during their presale indicates high demand. Other promising signs that a token will produce returns include significant hype on social media and bullish price predictions by crypto analysts.

Where sufficient historical data exists, we incorporated technical analyses into our assessment of new cryptocurrency releases.

Reviewing the Best New Crypto Launches to Buy

Having covered some of the key considerations, read on to discover the best new cryptocurrency to invest in now.

1. Wall Street Memes (WSM) – The Best Crypto Investment Opportunity in 2023. $WSM Has Already Raised Over $25M, Earned 1.1M Views on Social Media, and Been Tweeted By Elon Musk

Wall Street Memes ($WSM) is a celebration of meme culture inspired by the r/WallStreetBets subreddit. With this token, the team sticks it to traditional finance while also creating a fun community where crypto enthusiasts and meme coin lovers can come together.

One of the top new cryptocurrency launches, Wall Street Memes launched in May with a lofty goal of raising more than $30 million. Within 24 hours of the presale opening, the project had sold an impressive $100,000 worth of $WSM tokens.

Now, just 12 weeks later, Wall Street Memes has sold more than $25 million worth of $WSM. Coins are currently available to buy for $0.0334, with the next price increase set to take place in just a few days.

Wall Street Memes has been a success by almost every measure. The project has more than 1.1 million views on social media and more than 260,000 followers on Twitter. Wall Street Memes jokes have even been retweeted by Elon Musk, the king of memes himself.

The wild success of this project comes as little surprise to the development team. The same developers were behind the Wall Street Bulls NFT collection, which sold out in 32 minutes last October.

The Wall Street Memes roadmap identifies an ambitious target of a $1 billion market capitalization, which would value each token at $0.50.

If it achieves that goal, even presale participants who onboard during the final round will still see a nearly 15x return on their initial investment. Investors who got in during the early stages of the presale will stand to earn even more.

Crypto analysts like Jacob Bury have called $WSM the next meme coin to 10x.

Wall Street Memes has a total token supply of 2 billion $WSM tokens. Half of these will be sold in the presale. Another 30% of tokens will be used for marketing, while 10% will be reserved for CEX listings and 10% for DEX listings.

To stay updated with the presale, join the Wall Street Memes Telegram channel.

2. Sonik – Stake-2-Speed Meme Cryptocurrency is Priced at $0.000014 on Presale, $88K Raised in 2 Days

One of the newest cryptocurrency tokens to buy on presale is Sonik ($SONIK), a new meme token inspired by the ‘Sonic the Hedgehog’ character. Sonik is the meme version of SEGA’s popular franchise, but is in no way connected with this brand.

Instead, Sonik wants to become one of the top meme tokens, and soar its way to a $100 million market cap. $SONIK has a total token supply of 299,792,458,000. This particular number has been chosen because it is the speed at which light travels in meters per second.

Half of this token supply has been allocated for the ongoing token presale. Through the presale round, one can buy $SONIK for only $0.000014 per token. Notably, users can take advantage of Sonik’s staking mechanism and earn passive income. After purchasing $SONIK on presale, you can stake the token and get an APY (Annual Percentage Yield) of 820%. This number is subject to change as the number of staked tokens rises.

Currently, nearly 3 billion tokens have been staked on the ecosystem. 40% of the total token supply will be released through the staking mechanism over the next four years. To maintain stability, 10% of the supply will be used for DEX liquidity.

In only two days since the presale launched, Sonik has collected nearly $90K. The presale hard cap target is $2,098,547. Afterwards, Sonik will be listed on the Uniswap DEX. The project wants to eventually reach a $100 million market cap. Since many meme cryptocurrencies soar after the exchange listing, $SONIK could quickly gain momentum and head right for the $100 million goal in the long-term.

For more information, read the Sonik whitepaper and join the Telegram channel.