Top Cryptocurrency Performers Today on DEXScreener – SHIELD, INNO, DAMM

SHIELD, INNO, and DAMM are the leading crypto gainers today in the micro-cap on-chain markets, according to DEXScreener / Source: Cryptonews

With bearish sentiment prevailing in the wider crypto market on Monday, driven by ongoing concerns regarding the strained Iran/Israel situation and the latest robust US economic data, which is likely to further dissuade the Fed from reducing interest rates, crypto traders are turning their attention to the on-chain micro-cap markets in search of today’s top crypto gainers.

Bitcoin was recently trading close to $63,000, aiming to retest its weekend lows around $61,000. BTC has significantly declined from session highs near $67,000.

Other prominent altcoins, including Ether, Solana, XRP, and Toncoin, have also experienced sharp declines from their session peaks.

Reports indicating that Israel plans to respond “clearly and forcefully” to Iran’s weekend attack have unsettled market sentiment.

❖ ISRAEL REPORTEDLY TO HIT BACK ‘CLEARLY AND FORCEFULLY’

The Israeli war cabinet has resolved to retaliate “clearly and forcefully” against the missile and drone assault executed by Iran on Saturday, as reported by The Times of Israel on Monday, citing the local broadcaster Channel…

— *Walter Bloomberg (@DeItaone) April 15, 2024

However, sentiment had already been fragile following stronger-than-anticipated US retail sales data released earlier in the day. With the US economy performing well and inflation trending negatively, the rationale for imminent Fed rate cuts is diminishing.

10-year Treasury yields have increased by over 45 basis points this month. Following today’s unexpectedly high retail sales figures, traders are not anticipating a full rate cut until November. pic.twitter.com/xcXcVDT3s2

— Lisa Abramowicz (@lisaabramowicz1) April 15, 2024

This is why US bond yields and the US dollar continue to rise sharply, presenting a significant challenge for crypto.

In light of the bearish environment in the blue-chip crypto market, it is not surprising that traders are shifting their focus to on-chain markets.

Regardless of market conditions, newly launched meme coins and shitcoins consistently experience surges.

Indeed, on-chain markets are among the few areas where traders can achieve 10x or greater returns in a single day.

Of course, with high potential rewards come substantial risks. On-chain markets are characterized by extreme volatility, low liquidity, and are often rife with scams and pump-and-dump schemes.

Traders should always conduct their own research prior to investing and never risk more than they can afford to lose.

That said, here are some notable crypto gainers today on Ethereum that are likely to attract traders’ interest.

SHIELD (SHIELD)

A newly launched coin named Shield (SHIELD) has surged 21,400% since its debut on Monday.

According to DEXScreener, the token’s market capitalization stands at $2.1 million, with liquidity at $280,000.

The token has recorded $420,000 in trading volume since its launch.

However, the token has six concerning features in its smart contract, according to Go+ security.

These include a modifiable tax and unrenounced ownership. Traders should exercise caution with this shitcoin.

InnovateAI (INNO)

Another recently launched token, InnovateAI (INNO), has risen 5,400% on Monday.

However, as per DEXScreener, its market cap was approximately $1.1 million, with liquidity at $253,000.

Traders should be cautious with tokens that have low liquidity. A minimal volume of sales could lead to a significant price drop.

A Better Way to Make Quick Gains

Shitcoins present the possibility of rapid gains, but they are highly risky. This risk arises not only from their illiquidity and volatility but also from the fact that many are scams or pump-and-dump schemes.

A potentially more effective method for achieving quick exponential gains in crypto is to invest in crypto presales.

Emerging web3 projects frequently offer their native tokens at substantial discounts to early investors to support development.

If crypto investors can identify projects with strong use-cases, clear vision, and capable teams, they may be able to sell their presale tokens for a significant profit later, assuming the project gains traction.

However, with numerous presales competing for investor capital, it can be challenging to determine where to focus first.

Fortunately, analysts at Cryptonews dedicate considerable time to exploring the presale market for promising projects.

Here are their 19 preferred presales at the moment.

See the 19 Crypto Presales

Alternatively, view this video from Cryptonews’ Crypto Arjay, who discusses some of the top presales currently available.

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