Top Cryptocurrency Performers Today on DEXScreener – STOP, DOEGE, THICC

Major cryptocurrencies faced challenges on Friday as attention shifted back to significant spot Bitcoin ETF outflows primarily influenced by GBTC, prompting traders seeking rapid exponential gains to turn their focus to the on-chain shitcoin markets in search of today’s leading crypto performers.

According to CoinMarketCap, Bitcoin (BTC) has risen by 2.5% over the last 24 hours, trading in the mid-$63,000 range.

In contrast, other prominent cryptocurrencies such as Ether (ETH), Solana (SOL), and XRP (XRP) experienced declines of up to 5% during the same timeframe.

As reported by Zerohedge, GBTC has decreased to 356,000 BTC from 619,000 BTC just two months prior.

GBTC only has 356K bitcoins left to liquidate, down from 619K two months ago

— zerohedge (@zerohedge) March 21, 2024

Traders have been offloading GBTC since its transition to a spot ETF.

This is attributed to:

• Its relatively high fee (1.5%),
• Traders who acquired GBTC at a significant discount to NAV in 2023 prior to its ETF conversion taking profits,
• Bankrupt crypto firms (such as FTX, Celsius, and BlockFi) liquidating their holdings.

While the selling pressure from GBTC may continue in the short term, it is unlikely to pose a long-term obstacle to the market.

Consequently, major cryptocurrencies are expected to rebound and reach new peaks later this year, with Bitcoin enthusiasts targeting $100,000.

In the interim, traders eager for quicker profits will persist in exploring the on-chain markets.

On-chain markets refer to the trading space for digital assets that have been 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 (DEX) and potentially on centralized exchanges if they gain sufficient traction.

They are often categorized as meme coin (or shitcoin) markets, where virtually anyone can issue a token at any moment.

This accessibility results in these on-chain markets being rife with scams and pump-and-dump schemes.

However, shitcoin markets are the only venues where tokens can surge in value by 50-100x.

Here are some of the top crypto gainers today on Solana that traders will be observing, according to DEXScreener.

Top Crypto Gainers Today

Stop ($STOP)

A newly launched anti-racism token named Stop ($STOP), which seems to be advocating against the emergence of racist tokens on Solana, has surged 130,000% in the past 24 hours, as reported by DEXScreener.

The token’s market capitalization was last recorded at $2.2 million, with $120,000 in locked liquidity.

It has also achieved an impressive $9.5 million in trading volume since its inception.

However, despite the token’s seemingly positive and altruistic intentions, it does not guarantee that it is not a scam.

Traders are advised to conduct thorough research in the on-chain shitcoin markets, as most tokens are either scams or part of pump-and-dump schemes.

Doege ($DOEGE)

A playful alternative to Dogecoin called Doege ($DOEGE) is experiencing a surge on Solana this Friday.

It has increased by 35,600% in 24 hours, according to DEXScreener.

However, its market cap remains modest at just $800,000, with $100,000 in locked liquidity.

It appears to have solid community backing, with 563 “rocket” votes on DEXScreener compared to 28 “shitcoin” and 40 red flag votes.

Thicc ($THICC)

A shitcoin known as $THICC has risen by 130% in 24 hours, reaching a market cap of $2.7 million.

According to DEXScreener, the token’s 24-hour trading volume stands at a substantial $30 million.

Additionally, over 10,000 unique wallets have engaged in trading this pair, which is a noteworthy accomplishment.

Nevertheless, investors should refrain from investing in a coin solely based on impressive statistics. Always conduct your own research beforehand.

Crypto Alternatives to Consider

Investing in low-cap shitcoins carries significant risk.

A seemingly harmless project could easily prove to be a scam, and a few large sell orders could swiftly reduce the price by 80%.

A strategy that remains risky but may offer a better risk-reward balance is participating in crypto presales.

The concept involves investors acquiring tokens from emerging, high-potential crypto projects/protocols at a discounted early price.

These projects utilize the funds to support protocol development and marketing efforts.

While numerous issues can arise when investing in crypto presales—unexpected events may hinder a project from achieving its goals—astute presale investors often 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 presale projects with the highest potential.

See the 14 Cryptocurrencies

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