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Top Crypto Gainers Today on DEXTools
As blue-chip cryptocurrency values face downward pressure on Tuesday, driven by profit-taking ahead of the Bitcoin halving following its recent all-time highs and growing skepticism about the chances of spot Ether ETFs receiving approval before summer, traders seeking quick profits are turning their attention to the on-chain meme coin markets in search of today’s leading crypto gainers.
On-chain markets pertain to the trading of digital assets that are directly issued on an existing blockchain.
For instance, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can be traded on decentralized exchanges and potentially on centralized exchanges if they gain sufficient traction.
They are commonly referred to as meme coin (or shitcoin) markets because virtually anyone can create a token at any moment.
This characteristic leads to these on-chain markets being filled with scams and pump-and-dump schemes.
However, shitcoin markets are the sole venue where tokens can experience rallies in the 50-100x range.
Below are some of the top crypto gainers today on Ethereum that traders will be observing.
Top Crypto Gainers Today on DEXScreener
Byte ($BYTE)
A newly launched shitcoin named Byte ($BYTE) has surged by 12,000% on Tuesday, according to DEXScreener.
Its market capitalization was approximately $1.8 million, with liquidity around $30,000.
This is notable for a first day of trading. However, investors should exercise extreme caution with this token.
The token has five alarming features in its smart contract, including its mintability, modifiable tax, and a 7% buy and sell tax.
VPS ($VPS)
Another newly launched shitcoin, IGET ($IGET), is experiencing a surge, having risen over 9,000% on Tuesday, as reported by DEXScreener.
Its market cap remains a modest $1.1 million, with liquidity at a respectable $225,000.
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Although DEXScreener does not identify any issues with the smart contract, investors should remain very cautious with this coin.
There is no such thing as a zero-risk investment in the shitcoin markets.
Telenode ($TGPU)
A token called Book of Pepe ($BOPE) has increased by 80% in less than 24 hours, according to DEXScreener.
Its market cap was last noted at around $1.6 million, with $150,000 in locked liquidity.
However, investors should not let the presence of locked liquidity create a false sense of security regarding this coin.
The token has three concerning aspects in its smart contract, including a potentially modifiable tax.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a highly speculative approach.
A seemingly harmless project could easily be a scam, and a few significant sell orders could swiftly reduce the price by 80%.
A strategy that remains risky but may offer a more favorable risk-reward ratio is participating in crypto presales.
The concept involves investors acquiring tokens of emerging, high-potential crypto projects/protocols at a discounted early price.
These projects utilize the funds for protocol development and marketing.
While numerous issues can arise when investing in crypto presales—unexpected events can hinder a project from fulfilling its vision—astute presale investors often achieve gains of 10x or more.
With hundreds of presale projects competing for investor capital, analysts at Cryptonews have been analyzing the market.
Here are 14 presale projects with the highest potential.
See the 14 Cryptocurrencies
The post Top Crypto Gainers Today on DEXScreener – BYTE, VPS, TGPU appeared first on Cryptonews.
