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Top Crypto Gainers Today on DEXTools
As the surge in AI stocks on Wall Street subsides and leading cryptocurrencies predominantly trade in the negative on Friday, highly risk-tolerant crypto enthusiasts are searching for today’s top crypto gainers in the unregulated on-chain shitcoin markets.
According to CoinMarketCap, Bitcoin (BTC) and Ether (ETH) were both down approximately 1% over the last 24 hours.
Both cryptocurrencies remain near recent peaks of $51,000 and about $2,950 respectively, staying within recent trading ranges.
Traders are keeping an eye on factors such as potential Fed rate cuts, the forthcoming halving, and an upcoming upgrade to the Ethereum blockchain.
As the 2024 rally in major cryptocurrencies pauses, traders seeking quick profits are increasingly turning to shitcoins.
Due to their small market capitalizations, shitcoins and newly introduced meme coins frequently experience rapid 10x gains.
However, just as they can rise swiftly, they can also decline just as quickly.
In fact, nearly all tokens within the shitcoin market are some variation of pump-and-dump schemes, rug pulls, or scams.
Shitcoin traders utilize tools like DEXTools, which tracks tokens traded on decentralized exchanges such as Uniswap.
According to DEXTools, here are the leading crypto gainers today in the unregulated shitcoin market on Ethereum.
PorkX ($PorkX)
A newly launched Reddit-themed shitcoin named Reddit ($REDDIT) has surged nearly 240% in the last 24 hours, as reported by DEXTools.
This increase follows Reddit’s announcement on Thursday regarding its plans to go public and its holdings of BTC and ETH.
The market cap of $REDDIT was last noted at approximately $400,000, with around $190,000 in liquidity.
It has about 1,500 holders and recorded $800,000 in trading volumes over the past 24 hours.
This meme coin has existed since May 2023, making it less likely to be a scam.
However, it does have three smart contract alerts, so investors should exercise caution.
Zapicorn ($ZAPI)
Zapicorn ($ZAPI) has increased another 120% in 24 hours, according to DEXTools, bringing its weekly gains to over 1,100%.
Zapicorn claims to be the first memecoin developed by decentralized AI.
Its market cap was last around $4.6 million with approximately $300,000 in liquidity.
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It boasts around 1,300 holders and has seen 24-hour trading volumes of $1.1 million.
Potential investors should be very cautious with this token, as DEXTools’ code auditor Quick Intel has identified a scam risk.
XRGB ($XRGB)
A newly launched shitcoin called XRGB ($XRGB) has risen over 100% on Friday, according to DEXTools.
Confusingly, there are two tokens with different contract addresses claiming to represent the same project.
This is a significant red flag.
XRGB purports to be both a protocol and a blockchain designed for interoperability between Bitcoin and ERC404 assets.
This may explain the existence of two tokens.
Regardless, its market cap was last around $4.7 million, with just under $200,000 in liquidity and over 1,000 holders.
DEXTools’ smart contract audit indicates that the token is mintable and has three other concerning features.
As a reminder, newly launched coins are almost always associated with pump-and-dump schemes or scams.
Thus, investors should always conduct thorough research. There is no such thing as zero risk.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a highly speculative strategy.
A seemingly harmless project could easily turn out to be fraudulent, 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 from emerging, high-potential crypto projects/protocols at a discounted early price.
These projects then utilize those funds for protocol development and marketing.
While many issues can arise when investing in crypto presales—unforeseen events may hinder a project from achieving its goals—astute presale investors often secure gains of 10x or more.
With numerous 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
The post Top Crypto Gainers Today on DEXTools – PorkX, Zapi, XRGB appeared first on Cryptonews.
