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As leading cryptocurrencies face profit-taking amid rising anxiety ahead of next week’s US presidential election, traders have turned to the on-chain DEX markets in search of today’s top crypto gainers that may provide quick returns.
Bitcoin (BTC) has retreated to test the $70,000 mark, while significant altcoins have experienced even greater declines.
Ethereum (ETH), Solana (SOL), and BNB (BNB) have dropped between 3.5% and 5.5% over the last 24 hours.
Some investors may view this dip as an opportunity to secure short-term profits—once the uncertainty surrounding the election dissipates, markets could receive a boost to rally towards the end of the year, supported by a robust US economy and a Federal Reserve that is gradually lowering interest rates.
However, instead of aiming for 2-3x returns on an altcoin, some traders might opt to engage with highly speculative micro-cap coins that present substantial upside potential.
Indeed, the possibility of achieving 50-100x returns is a significant draw for traders seeking top crypto gainers in the DEX markets today.
Nonetheless, DEX markets carry considerable risks—many coins are either fraudulent, part of pump-and-dump schemes, or fail to maintain any genuine value.
Due to their low liquidity, even a minor amount of selling pressure could lead to a price crash just as swiftly as a small influx of buying pressure could cause a price surge.
Traders frequently utilize tools like DEXScreener while searching for today’s top crypto gainers. Here are some notable movers they are likely monitoring.
Top Crypto Gainers Today on DEXScreener – Which Are They?
A meme coin on Ethereum, known as Shiba $WING (WING), which claims to have been created by the original Shiba Inu logo owners, is the leading performer on today’s top crypto gainers list, boasting an impressive 145,000% increase in the last 24 hours according to DEXScreener.
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Good evening $WING fam
Did you know that we are the proud owners of the globally recognized Shiba Inu Logopic.twitter.com/wXKsS70wPX
— Shiba Wing Token (@tokenshibawing) October 31, 2024
pic.twitter.com/wXKsS70wPXHowever, the chart for this new coin shows strong signs of being a pump-and-dump. It experienced a rapid increase right after its launch and has been on a downward trend since then.
In addition, another entry on the top crypto gainers today list is BUCKS (BUCK), a new meme coin on Solana that has surged over 92,000% in 24 hours, reaching a market capitalization of $1.3 million.
Similar to WING, traders should exercise caution when considering this coin—it has very limited social media engagement, indicating a lack of a genuine following or community, which is essential for any successful meme coin.
Lastly, a new meme coin on Base called Hedge Fund AI (HEDG) has risen just over 5,000% in the past 24 hours, achieving a market cap of $1 million.
The token claims to function as a DAO/AI investment protocol, and there appears to be some interest in it on X.
That said, traders must always keep in mind the risks associated with trading on DEX markets and should never invest more than they can afford to lose.
A potentially better strategy for discovering low-cap gems might involve participating in meme coin presales.
Analysts at cryptonews.com are continuously tracking the market for high-potential projects. Here are some of their top selections as we approach November.
21 Best New Meme Coins to Buy in October 2024
The post Top Crypto Gainers Today on DEXScreener – WING, BUCKS, HEDG appeared first on Cryptonews.
