Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Top Crypto Gainers Today on DEXTools – 420, WOPE, PEP / Source: Cryptonews
On a day marked by geopolitical unrest in the Middle East, which led to significant declines of over 10% in most major altcoins within the last 24 hours, traders turned their attention to the on-chain shitcoin markets in search of today’s top crypto gainers.
Israel is preparing for a potential counterstrike from Iran following the elimination of IRGC military leaders in Syria. Reports surfaced on Friday indicating that the US is deploying warships to position itself for Israel’s defense.
JUST IN: The United States has committed to DEFENDING ISRAEL if Iran launches an attack. Iran has warned that this will make the US a target. pic.twitter.com/Esn0bPXWFX
— Jackson Hinkle
(@jacksonhinklle) April 12, 2024
JUST IN: The United States has committed to DEFENDING ISRAEL if Iran launches an attack. Iran has warned that this will make the US a target. pic.twitter.com/Esn0bPXWFXSince the Hamas attack on Israel on October 7th, tensions in the Middle East have escalated, culminating in Israel’s severe counteroffensive in Gaza.
Bitcoin has remained relatively stable compared to the broader market, experiencing a decline of only 4.5% to $67,000, which positions it approximately 9% below its recent peak near $74,000.
As Bitcoin is increasingly regarded as a form of digital gold, it may experience a rally if tensions involving Iran, Israel, and the US escalate further.
However, with the halving approaching and expectations for Fed rate cuts diminishing, investors might be hesitant to invest heavily.
Instead, they may be looking for opportunities within the highly illiquid and volatile on-chain shitcoin markets.
On-chain markets pertain to the trading of tokens that are directly issued on blockchains such as Ethereum and Solana. The term “shitcoin” reflects the reality that many of these tokens are fraudulent, pump-and-dump schemes, or lack genuine utility.
Nonetheless, on-chain shitcoin markets are among the few venues where traders can achieve gains of 10x or more in less than 24 hours.
Below are the top crypto gainers today on Ethereum that traders are monitoring, according to DEXTools.
Potential investors are reminded to conduct their own research into tokens and to never invest more than they can afford to lose.
Top Crypto Gainers Today
42 times 10 (420)
A newly launched meme coin known as 42 times 10 (420) has surged 1,750% on Friday, according to DEXTools.
Despite these substantial gains, the token’s market capitalization was approximately $150,000, with around $40,000 in liquidity.
The token also has fewer than 100 holders and recorded $28,000 in trading volume over the past 24 hours.
According to DEXTools’ smart contract audit, the token has three concerning elements within its smart contract. Traders should exercise caution with this highly illiquid shitcoin.
Related Posts
WojakPepe (WOPE)
A new hybrid meme coin combining elements of Pepe and Wojak, called WojakPepe (WOPE), has increased by 550% on Friday.
DEXTools estimates the token’s market cap at $1 million and liquidity at $100,000.
The token currently has just over 550 holders and 24-hour trading volumes of $6.2 million. This is a notable performance for its first day of trading.
However, the token has two concerning aspects in its smart contract, according to DEXTools.
The utility of the token remains unclear, so traders should be cautious with this shitcoin.
pepcoin (PEP)
A new meme coin referred to as the “retard cousin of Pepe,” named pepcoin (PEP), has risen 1,150% on Friday.
However, DEXTools reports that its market cap was only around $60,000, with $25,000 in liquidity and 220 holders.
This indicates that a minimal volume of sales could lead to a significant price drop. Traders should be very careful with such an illiquid coin.
A Better Way to Make Quick Gains
Shitcoins present the possibility of rapid gains, but they carry substantial risks. This is not only due to their illiquidity and volatility but also because 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 a significant discount to early investors to support development.
If crypto investors can identify projects with strong use cases, clear visions, and capable teams, they may be able to sell their presale tokens for a considerable profit later, assuming the project gains traction.
However, with numerous presales competing for investor attention, 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 18 preferred presales at the moment.
See the 18 Crypto Presales
Alternatively, view this video from Cryptonews’ Crypto Arjay, who discusses some of the top presales currently available.
The post Top Crypto Gainers Today on DEXTools – 420, WOPE, PEP appeared first on Cryptonews.
