As crypto markets pump in wake of a more dovish than expected Fed policy announcement, with Bitcoin (ETH) and Ether (ETH) bouncing 11% and 14% from intra-day lows to near $68,000 and $3,500, trader hunting for the top crypto gainers today are flocking to the on-chain markets.
On-chain markets refer to the market for digital assets that have been issued directly on top an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges (DEX), and also perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets because virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
But shitcoin markets are the only place to find tokens that can rally in the 50-100x region.
Here are a few of the top crypto gainers today on Solana that traders will be monitoring, as per DEXScreener.
Top Crypto Gainers Today
PIPI ($PIPI)
A Solana-based Pepe alternative called PIPI ($PIPI) is leading the top crypto gainers on Wednesday.
PIPI was last higher by over 65,000% in the past 24 hours, as per DEXScreener. PIPI’s market cap was last around $4.0 million, with nearly $2.9 million in 24 hour trading volumes.
The meme coin has over $220,000 in locked liquidity, a good sign that its issuer isn’t planning a rug pull.
But there are no zero risk investments in crypto, especially this shitcoin space.
PNUT ($PNUT)
Another meme coin called PNUT ($PNUT), a play on the word peanut, is pumping on Wednesday.
PNUT claims to be a Pepe looking squirrel, and is also based on Solana.
PNUT was last up around 88,000% in 24 hours, reaching a market cap of $7.6 million.
That’s according to DEXScreener, who puts its 24-hour trading volumes at an impressive $3.2 million.
The token has locked liquidity of around $330,000. Again, this is a good sign that the developer isn’t planning a rug pull.
FAP ($FAP)
FAP ($FAP), another Solana-based meme coin that appears to be based on the theme of a male sexually pleasing himself, is pumping on Wednesday.
As per DEXScreener, FAP is up 500% in 24 hours, taking its market cap to $4.1 million. Nearly $20 million in tokens changed hands in the past 24 hours, around 5x the token’s market cap.
The token has $1.6 million in locked liquidity, a good sign that it isn’t a rug pull.
But, again, that doesn’t mean that FAP isn’t just another pump-and-dump scheme, like so many meme coins before it.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily turn out to be a scam, and a few big sell orders could easily drive the price 80% lower.
A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales.
The idea is that investors secure tokens of up-and-coming, high-potential crypto projects/protocols at a discounted early price.
These projects then put those funds to work, paying for protocol development and marketing.
While lots can go wrong when investing in crypto presales—unforeseen circumstances can prevent a project from delivering on its vision—savvy presale investors routinely secure gains of 10x or more.
With hundreds of presale projects vying for investor funds, analysts at Cryptonews have been combing the market.
Here are 14 of the presale projects with the highest potential.
See the 14 Cryptocurrencies
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