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As significant cryptocurrencies are poised to conclude the week with substantial gains following the initiation of a new Federal Reserve rate-cutting cycle, traders seeking leading crypto gainers today are shifting their attention to the fluctuating on-chain DEX markets.
The Fed has just reduced interest rates by 50 basis points.
Activate the money printer as well, and we could have a bull market ahead.— Anthony Pompliano
(@APompliano) September 18, 2024
Bitcoin (BTC), currently trading at approximately $62,500, is on track to finish the week with a 5.7% increase.
Ethereum (ETH), on the other hand, is expected to achieve nearly 10% in weekly gains.
However, these increases are modest compared to the gains observed in many smaller tokens within the DEX markets.
In fact, the leading crypto gainers today or on any given day are typically found in the DEX markets.
This is due to low liquidity, where a relatively small amount of buying pressure can create significant upward momentum in prices.
Conversely, DEX tokens can also lose their gains just as swiftly as they accumulate them.
These markets are highly speculative, particularly since most newly launched coins are frequently either scams or pump-and-dump schemes.
Nonetheless, here are some of the top crypto gainers today as reported by the DEX analytics platform DEXScreener.
Top Crypto Gainers Today – Which Are They?
Lemonrocks (LEMON)
A new AI initiative named Lemonrocks (LEMON) has surged since its debut on Thursday.
As per DEXScreener, its market capitalization was recently around $16.8 million, with over $600,000 in locked liquidity.
Its astonishing 155,000% increase in the last 24 hours positions it among the top crypto gainers today.
While LEMON appears to be a credible project, investors should always exercise caution.
The token has several red flags, including a modifiable tax and unrenounced ownership.
Traders should never invest more than they can afford to lose in the DEX markets.
Misha (MISHA)
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In another instance, the Ethereum meme coin Misha (MISHA), seemingly inspired by Vitalik Buterin’s dog, is among the top crypto gainers today.
According to DEXScreener, the cryptocurrency surged 7,730% in the past 24 hours, achieving a market cap of $5.5 million.
The token has recorded an impressive $42 million in trading volumes since its launch late Thursday.
It has accumulated liquidity of approximately $700 million.
While this is significant, if a major whale decided to cash out, it may not provide sufficient liquidity to avert a substantial price drop.
MISHA has one concerning feature regarding its smart contract – ownership has not been renounced.
Therefore, traders should proceed with caution regarding this coin and always conduct thorough research before participating.
WAGIE (WAGIE)
The final entry on the list of top crypto gainers today is a new Solana meme coin called WAGIE (WAGIE).
WAGIE’s market cap increased by 1,870% in the past 24 hours, according to DEXScreener, bringing its market cap to $1.1 million.
The token has only $100,000 in liquidity and could easily plummet to zero.
WAGIE also seems to lack a strong community presence, with minimal weekly engagement on social media.
$WAGIE IS LIVE ON SOL
CA – 3AbsZWRZ2uEXcX6p757nX2UpxhjGNyhFaVQieU2ecxW8
CHART – https://t.co/zgo4Czsvgy
TG – https://t.co/ewIvlXghiF
WEB – https://t.co/ALZeXXEfwi pic.twitter.com/uakXl3houc— $WAGIE (@wagietoken) September 19, 2024
A potentially better option for crypto investors could be to engage in high-potential crypto presales.
New crypto projects often offer their native tokens at a discount to early investors.
Crypto presales typically last a few weeks, providing investors ample opportunity to conduct their due diligence on a project before participating.
Analysts at Cryptonews.com closely monitor the crypto presale market. Here are some of their preferred projects at the moment.
17 Best Crypto Presales to Invest In Now
Alternatively, viewers can check out the video below by Cryptonews.com’s in-house presale analyst, Chester, who is currently discussing some of the highest potential presales.
The post Top Crypto Gainers Today on DEXScreener – LEMON, MISHA, WAGIE appeared first on Cryptonews.
