10 Cryptocurrencies To Buy In 2023 That Could Double Your Money

Top Cryptocurrencies that could double your money

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Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Last Updated December 28th 2022
16 Min Read

The cryptocurrency market has been highly volatile in late 2022, with most cryptocurrencies losing by double digits. If you are new to crypto, this can be pretty confusing, and leave you wondering, will 2023 be good for cryptocurrencies. 

Well, crypto moves in cycles, and pumps always follow dumps. With this background in mind, what cryptocurrencies could give the best ROI in 2023? Let’s explore the market a little to find out. 

In this article, we’ll be analyzing the top 10 cryptocurrencies that have the potential to double your money in 2023. 

Best Cryptocurrencies To Invest Your Capital 

The year 2021 has been a roller coaster for the broader cryptocurrency market, and for individual cryptocurrencies.   

This is the year when cryptocurrency market capitalization has come close to the $3 trillion mark. It is also the year when some cryptocurrencies have rallied by thousands of percentages.   

However, the market has also experienced a huge correction recently and currently has a market cap of $2.3 trillion. That said, the selloff has eased off, and bearish momentum is in decline. 

This could spell good tidings for the market going into 2023. So what are some of the best coins that could double your money?

The Top 10 Cryptocurrencies That Could Double Your Money In 2023:

  • Dogecoin
  • Floki Inu
  • Solana
  • Sandbox
  • Shiba Inu
  • Enjin
  • Polygon
  • Cardano
  • Avalanche
  • Terra Luna


1. Dogecoin (DOGE)

Dogecoin (DOGE) triggered the meme coin rally of late 2020 and peaked in May this year. However, since the crypto crash of May and June, Dogecoin has never recovered. 

In fact, it seems to have fizzled out, and many meme coins have come up in since then and taken the limelight away from Dogecoin. The crash of Dec 3rd put even more pressure on Dogecoin, and it is now trading at prices it last tested back in June. 

However, looking ahead into 2023, Dogecoin has the most realistic chance of doubling your money compared to many other cryptocurrencies. This all has to do with the Doge-1 mission. The Dogecoin-funded mission involves Elon Musk and his space company, SpaceX.

While little has been said about the Doge-1 mission lately, the mission is a wildcard that could send Dogecoin rocketing in Q1 of 2023. That’s because if the mission comes to fruition, Elon Musk would most likely hype it up, and DOGE rallying by 100% would be attainable. 

The best part is that Dogecoin is now in a buy zone. It is currently trading at a multi-month support level, a low-risk entry point. If the Doge-1 mission happens, and Dogecoin bounces off this support, doubling in price would push it to $0.32. That’s a realistic target considering that Dogecoin was only recently trading close to this level, with no significant news. 

Even if the Doge-1 mission does not happen, a broader market pump could easily push Dogecoin to the $0.30 to $0.32 price level. It has already happened in the crypto pump of the last few months.  

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Floki Inu (FLOKI)

Floki Inu (FLOKI) lost more than 32% of its value in the selloff of Dec 3rd. However, even before this market crash, Floki Inu was about 50% off its November peak of $0.0003406. Before the latest crash, it was in recovery and is now trading at a key monthly support level at $0.0002202. 

Considering that the broader market seems to have stabilized after the Dec 3rd flash crash, chances of a recovery going into 2023 are quite high. This by extension, means that Floki Inu could rally again as well. For a meme coin that easily does thousands of percentage gains, a 100% price recovery is easily attainable. If meme coin fever spills over into 2023, there is every reason to believe that Floki Inu could double your money easily. 

Every indication that meme coins will be an important pillar to the crypto market in 2023.

For starters, more people are now investing in meme coins than ever before. Investors have been drawn in by the mega returns that meme coins have recently given investors. Since Floki Inu is one of the bigger and better-known meme coins, an increase in investor interest in this segment of the market could see it rally in 2023.

Besides, this token is named after Elon Musk’s dog, and any tweet from him about his dog or pretty much anything meme-related could easily see Floki Inu rally. The biggest kicker that could push the price of Floki Inu and other meme coins would be an Elon Musk tweet about the Doge-1 mission. This could send meme coins themed around Elon Musk, his dogs, and all into a mega rally.

Simply put, Floki Inu, at its current price level, is low-risk crypto that could double your money in 2023. 

Read Also: 7 Weird Cryptos To Watch In 2023

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Solana (SOL)

Solana (SOL) has emerged as one of the strongest competitors to Ethereum. Its potential has not escaped investors’ eyes, and it has been one of the best-performing cryptocurrencies year-to-date. 

Solana’s biggest strengths are its scalability and low-cost transactions. Solana can handle over 50k transactions, and its transactions have been proven to be below $0.01 per transaction. 

These factors have seen it rally, and they are the same ones that could see it double in price in 2023. That’s because it will keep drawing in developers looking to launch Dapps or mint NFTs. 

At the same time, Solana is likely to keep drawing investors looking to capitalize on new project launches. Its low transaction costs pretty much guarantee that investors can get as many tokens as possible of Solana projects without fees eating into such investments. 

To understand how big of a deal this is, you need to try and buy an ERC token on a decentralized exchange like Uniswap. You will notice that unless you are making a very big purchase, fees will most likely eat into a significant percentage of your money. 

Considering that Solana is deflationary, growing adoption pretty much guarantees that it will keep going up over time. With the current excitement around NFTs and the Metaverse, projects focused on these areas could launch at an accelerated rate going into 2023. The result could be an explosion in Solana’s value

For Solana to double your money in 2023, it would need to be trading at roughly $400 per token. That’s easily attainable for SOL considering that it went from pennies to over $200 in less than a year. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Sandbox (SAND)

Sandbox (SAND) easily stands out amongst cryptocurrencies that can double your money in 2023.

It has already doubled money for many investors this year, considering that it was up by over 108% in the past month.

Sandbox’s potential as an investment has a lot to do with the opening up of the Metaverse space. 

There is a lot that has been going on in the Metaverse space over the last few years. However, only after the recent rebrand of Facebook to Meta has this space truly opened up. 

Sandbox has benefited from the hype that followed, but it also has news that has pushed it significantly over the past month. One of the most anticipated Sandbox news was the launch of a play-to-earn game called Alpha that happened a few days ago. 

Going into 2023, as more play-to-earn games come up in the Sandbox Metaverse, the value of the SAND token will go up. That’s because it is the SAND token that is used to power the Sandbox Metaverse ecosystem. 

It is also noteworthy that Sandbox’s recent rally has created lots of awareness about SAND amongst investors. As such, many investors fearing to miss out on the Metaverse space are likely to jump on it. This will likely create a self-sustaining cycle where SAND keeps going up over time. 

Related to this is that investors can stake SAND tokens, a factor that could take a huge number of SAND tokens out of circulation going into 2023. 

With these factors at play, SAND’s potential to gain by 100% in 2023 is high. If the broader market turns out bullish in 2023, then SAND could easily gain by more than 100%.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Shiba Inu (SHIB)

Shiba Inu (SHIB) is another meme coin that can help investors double investments in 2023. Since its launch in 2020, Shiba Inu has easily emerged as one of the best-performing assets ever, with a return of over 50,000,000%. 

The interesting aspect to Shiba Inu is that despite such a historic rally, it still has upside momentum. In October, this was evident in its price action when it rallied by 1100%. 

Going into 2023, there is a lot to look forward to for SHIB investors. For starters, Shiba Inu is now one of the most famous meme coins out there. It is so popular that it recently flipped Dogecoin, the coin it was created to mimic. 

Thanks to its widespread popularity, SHIB is likely to take the lion’s share of money flowing into meme coins going into 2023. Now that investors have already seen these coins' potential, there is a good chance that more money could flow into them in 2023. 

Shiba Inu also has the advantage of being deflationary. Since its launch, Shiba Inu’s supply has been going down. There was an accelerated token burn when Vitalik Buterin decided to burn 90% of all the tokens donated to them back in April. For context on how SHIB’s supply is dropping, 2 billion SHIB were burned in November. As more SHIB are burned, it will likely impact its price, going into 2023.

Shiba Inu has also been in a correction for the past week, and the selloff accelerated on Dec 3rd alongside the broader market. SHIB is now trading at $0.00003846, a key multi-week support level.

If SHIB were to rally by 100% from this price, it would trade at around $0.000076. That’s way lower than the highs it hit in October, hence easily attainable. All it would take would be a pump in the broader market, and SHIB could easily do more than 100% in 2023. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Enjin (ENJ)

Enjin (ENJ) is another cryptocurrency that could easily double your money in 2023. While it has been around for a while, it was largely a sleeper and only came to life in 2021. This is not a fluke either, Enjin’s rally in 2021 has a lot to do with the increased investor interest in NFTs and of course, the Metaverse. 

Enjin has shot up in popularity because one of its primary use cases is in the launch and exchange of NFTs. Enjin is also in the process of launching a Metaverse platform and is crowdsourcing $100 million for it.

Considering how big the Metaverse is, especially now that Facebook and Microsoft have put it in the limelight, the impact on cryptocurrencies like Enjin could be huge. Evidence of the momentum that these cryptocurrencies have is in their massive rebound after the correction of Dec 3rd. Enjin has bounced back by over 17%. The other Metaverse cryptocurrencies, such as Sandbox, have recovered quite strongly too. 

This is an early indicator that if the broader market turns out bullish again in 2023, Enjin doubling in price within 2023 is possible. Besides, after this week’s price drop, Enjin doubling in price would not necessitate a crazy increase in market capitalization. 

Enjin is currently trading at $2.92, and if it were to gain by 100%, that would give it a valuation of $5.84. That’s highly attainable considering that it made a high of $4.66 in late November, without any important news. 

Now with work ongoing on the Enjin Metaverse and the Metaverse space set to get even bigger in 2023, Enjin may hit prices over $6 within the year. Crypto may be volatile at the moment and can go either way. However, if doubling money in a year is the goal, Enjin is definitely among the safer bets.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Polygon (MATIC)

Polygon (MATIC) also makes it to the list of cryptocurrencies that could double your money in 2023. If its bounce back from the recent crypto meltdown is anything to go by, then Polygon has the momentum for a parabolic run in 2023. 

However, it is not just about its price action at the moment that justifies its potential to rally in 2023. The fundamentals point to a potentially big runner. At its core, Polygon is an Ethereum layer-2 scaling solution. Therefore, once Ethereum fully transitions to Ethereum 2.0, the use case for Polygon will grow exponentially as well. 

While the shift to Ethereum 2.0 has been slow, most of the work is already done, and it’s expected that it will be through by 2023. According to a blog post by the Ethereum Foundation, Milestone five of the shift to Ethereum 2.0 was recently hit in a testnet environment. This is a big deal and means that the shift could be through in early 2023. 

Once the transition is complete, most Ethereum transactions will shift to layer two solutions such as Polygon. Considering that Polygon already has a huge ecosystem of projects running on top of it, such a move will boost its success. 

On this basis, if the crypto market starts 2023 bullish, Polygon could more than double your money within the year. Organic demand combined with market-wide momentum could see it hit $6 or more in 2023. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

8. Cardano (ADA)

Cardano (ADA) has underperformed the market over the last two months. Since FOMO around the launch of Cardano smart contracts died out in early October, there has been little going on with ADA’s price.  

However, that’s not to say that ADA should be written off. Cardano still stands out as one of the platform blockchains that could compete with Ethereum and give it a run for its money. 

One of Cardano’s biggest attributes Cardano is the ability to combine decentralization with scalability. Many of the projects that are now taking pride in breakneck transaction speeds, and low transaction costs, do so at the expense of decentralization. 

Cardano cracked this problem using a scientific approach to development. Through its peer-reviewed Ouroboros Proof-of-Stake algorithm, Cardano solves the trilemma of security, decentralization, and scalability. 

This may not seem like a big deal short term, but with the risks that come with using centralized systems, the value of decentralization will become important over time. This puts Cardano in a unique position for long-term growth. 

In the short term, Cardano is set to benefit from the growing investor interest in NFTs. 

Recently, a Twitter account named Cardano Community announced the launch of Fractionalized NFTs on Cardano’s Plutus. This is a big deal as it could open up the ownership of NFTs by all, regardless of how small the amount they want to invest is. 

With NFTs set to get even bigger thanks to the explosion of the Metaverse, Cardano could see an increase in demand in 2023. If the broader market turns out bullish next year, momentum could accelerate, and Cardano doubling in price next year is plausible. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

9. Avalanche (AVAX)

Avalanche (AVAX) has been a big runner this year and recently made its debut as one of the 10 largest cryptocurrencies by market cap.

While it dipped in late November, just like the rest of the market, there is a good chance that Avalanche could sustain this year’s momentum going into 2023. The pointers for such a possibility are already there, especially in terms of adoption. A few days ago, a DeFi project called Alpha launched on Avalanche. As more of these projects launch, Avalanche’s upside momentum will only get stronger. 

Avalanche’s success has a lot to do with its scaling capabilities. Like Solana, Avalanche has the capacity to scale with ease, and its transactions are low-cost. This has made it perfect for the launch of DeFi projects and NFTs.

Considering that NFTs are emerging as the next big thing in crypto, the demand for Avalanche will go up in 2023. The result could be a rally that would see Avalanche easily double in value at some point within the next year. 

Besides, from a look at its technicals, it is logical to expect Avalanche to double in value within the next year.

Avalanche has been in an accelerated correction throughout the first few days of December. However, selling volumes are in decline, an indicator that the worst of the selloff could be over. 

If Avalanche bounces off its current price, it would only need to hit $169.98 to double your money. This target is pretty attainable considering that in its November rally, Avalanche came pretty close to this price level when it hit a high of $147.5. 

In the event that the market turns bullish in 2023, Avalanche could easily push through the $200 mark, which is more than double its current price. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

10. Terra Luna (LUNA)

Terra Luna (LUNA) has been one of the top crypto performers over the last few months, and for a good reason. This blockchain is taking the Web 3.0 space by storm. It has become a perfect way to launch algorithmic stablecoins that can be used cross-chain. It has also become a perfect launchpad for Web 3.0 Dapps that can scale easily. 

Terra Luna’s success is evident in that more than 100 projects run on the Terra blockchain today. As more of them launch, the value of the LUNA token will grow. In fact, the upsurge in stable coins, Dapps, and NFTs launching on Terra Luna has pushed up the value of LUNA recently, making it one of the most valuable blockchains by market cap. 

Another aspect of Terra Luna is that the more investors use Terra Luna stable coins, the higher the value of LUNA goes. That’s because when investors use these stable coins, they trigger value capture for LUNA.

This places LUNA in a good position to double in value in 2023. Demand for Terra Luna will also be pushed by the recent price rally that has brought it to the attention of investors who hitherto may never have known about it. 

For LUNA to double your money in 2023, it would need to be trading at around $128. That’s quite a realistic expectation without necessitating an unrealistic market capitalization. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Key Takeaways 

  • Floki Inu, Dogecoin, and Solana are three top cryptocurrencies that could double in 2023. The three have fundamental strengths that could push their prices in the coming year. 
  • All 10 cryptocurrencies have strong fundamentals, and some have big news coming up. 
  • While all 10 cryptocurrencies have a rich history, it doesn’t mean that their past performance will necessarily repeat in the future. 
  • It is advisable to do more research before committing to any of them. 
  • Lastly, you need to know that there are no guarantees in cryptocurrency investing. Having tempered optimism that takes cognizance of risks will improve your odds. 

Read More:

Which Cryptocurrency Will Explode Next In 2023?

The Top 7 Cryptos To Buy For 2023 And Where To Buy Them

Good Cryptocurrencies To Buy Now? 4 Altcoins In Focus

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