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Traders utilize platforms such as DEXScreener to identify the leading crypto gainers today. Source: DEXScreener’s X Account
As prominent cryptocurrencies experience declines on a Friday marked by a further hawkish adjustment of Fed rate cut expectations, investors seeking top crypto gainers today are turning to the highly illiquid and volatile on-chain markets for rapid returns.
The most recent US jobs report was robust, and several Fed officials indicated that it is premature for rate cuts.
Bitcoin fluctuated between $66,000 and $68,500 and was last down nearly 5% for the week.
Other significant cryptocurrencies also faced losses. Solana (SOL) was last down 5.5% over 24 hours, while Dogecoin (DOGE) decreased by 3%, according to CoinMarketCap.
Instead of entering the bearish blue-chip market, many prefer to invest in newly launched on-chain tokens.
On-chain markets pertain to the trading of digital assets that have been directly issued on top of an existing blockchain.
For instance, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can subsequently be traded on decentralized exchanges (DEX) and potentially on centralized exchanges if they gain sufficient traction.
They are often categorized as meme coin (or shitcoin) markets, and virtually anyone can create a token at any moment.
Consequently, these on-chain markets are rife with scams and pump-and-dump schemes.
However, shitcoin markets are the only venues where tokens can surge in the 50-100x range.
Here are some of the leading crypto gainers today on Ethereum that traders will be observing, according to DEXScreener.
Top Crypto Gainers Today
MUFFIN (MUFFIN)
A newly launched shitcoin named MUFFIN (MUFFIN) has surged 17,000% in 24 hours, according to DEXScreener.
Despite these substantial gains, the token’s market capitalization remains quite small at just $674,000.
Its liquidity pool currently has $94,000 locked. The 24-hour trading volume stands at a respectable $1.2 million, with nearly 500 unique wallets having engaged in trading the token.
DEXScreener’s smart contract audit highlights two issues with the token’s smart contract. It is essential for shitcoin investors to conduct thorough due diligence before making investments.
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Otherwise, they may easily fall victim to a scam or rug pull.
PRIVAGO (PVGO)
A recently introduced decentralized VPN protocol called Privago (PVGO) has increased by 4,583% in 24 hours, according to DEXScreener.
The shitcoin last recorded a market cap of $850,000. It has experienced $1.5 million in 24-hour trading volumes and has unlocked liquidity of $213,000.
The Quick Intel audit of its smart contract reveals a significant 25% sell tax on the token. Therefore, potential investors should exercise caution.
Graphitect Token (GPT)
A newly launched shitcoin known as Graphitect Token (GPT) has risen by 2,600%, according to DEXScreener.
$2.1 million in trading volumes have elevated the token’s market cap to $462,000. The token also has $160,000 in locked liquidity.
GPT imposes a 5% buy and sell tax and features a “whitelist,” according to Go+ Security. Traders should be very careful when investing in this coin, as it could easily still be a rug pull or scam.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a highly speculative strategy.
An ostensibly legitimate project could easily turn out to be a scam, and a few large sell orders could swiftly reduce the price by 80%.
A strategy that remains risky but arguably offers a better risk-reward ratio is participating in crypto presales.
The concept is that investors acquire tokens of emerging, high-potential crypto projects/protocols at a discounted early price.
These projects then utilize those funds for protocol development and marketing.
While numerous issues can arise when investing in crypto presales—unforeseen events may hinder a project from achieving its goals—astute presale investors frequently secure 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 of the presale projects with the highest potential.
See the 14 Cryptocurrencies
The post Top Crypto Gainers Today on DEXScreener – MUFFIN, PVGO, GPT appeared first on Cryptonews.
