For me cheap coins are priced under 1 cents..
Cheap price under 1 cent ? I don't think that we can put a price on what we call "cheap coin", for exemple few years ago when Bitcoin was at 1 or 2$ we can say that it was a cheap price.
And looking for low supply coins under 1 cent will be really difficult in my opinion... Even if it depends what you are calling low supply, for me a low supply would be under 10 millions but some people can say that it is low supply only under 1 million.
You are right, finding low supply coins under 1 cent is impossible right now. I'd call "low supply" under 21 millions btw...