As major cryptocurrencies stabilize on Friday, but Bitcoin (BTC) remains wedged below key levels of short-term resistance and the market’s near-term outlook thus remains uncertain, impatient traders are turning to the risky on-chain markets as they hunt for top crypto gainers today.
Bitcoin remains stuck below its 200DMA and a downtrend from the June highs.
But Bitcoin could soon rally, with sell pressure from the German government now over, per on-chain data.
Germany has sold all 50,000 of its bitcoin. pic.twitter.com/5AlgBfxXXl
— Joe Consorti
(@JoeConsorti) July 12, 2024
The German state of Saxony dumped 50,000 BTC it confiscated earlier this year in the last few weeks.
But any rally won’t be coming until Bitcoin is able to break above $60,000 on a sustained basis.
So, as they await for greater certainty in blue-chip crypto markets, traders are turning to riskier markets for quick gains.
And no market in crypto is able to deliver fast gains as easily as the on-chain markets.
New meme coins and tokens are launched on blockchains like Ethereum and Solana everyday.
The majority are scams or pump-and-dumps. But, even if they were created with dishonest intentions, some of these coins can post quick 10, 20 or even 100x gains.
That being said, here are some of the top crypto gainers today in on-chain markets, as per DEXScreener.
Top Crypto Gainers Today
Four (FOUR)
A Base meme coin called Four (FOUR) is up 16,000% in the past 24 hours, per DEXScreener. That makes it one of the top crypto gainers today.
That’s taken the token’s market cap to $2.4 million, with trading volumes nearing $1 million.
FOUR’s X account looks very basic, and the token has little other social information.
It also has various issues with its smart contract, as per Go+ Security.
This token is probably a scam, so might be best avoided.
Egg (EGG)
An egg-themed shitcoin called Egg (EGG) is trying to create buzz with giveaways.
As per DEXScreener, it was last up 5,500% in the past 24 hours, taking its market cap to $1.1 million. That makes it on of the top crypto gainers today.
This shitcoin could gain further traction, but does look suspicious. It has five concerning aspects to its smart contract and could easily be a rug pull.
Labubu (LABUBU)
A just launched meme coin called Labubu (LABUBU) has immediately sprung up to a market cap of $2.9 million.
That means it is already up 4,500%, per DEXScreener, who puts it trading volume at $950,000.
While the token has $164,000 in locked liquidity, it could easily still be some sort of scam/rug pull.
Traders must always do their own due diligence before getting involved in crypto markets. And they must never risk more than they can afford to lose.
Crypto Alternatives to Consider
As noted, on-chain shitcoin markets are exceedingly risky. Token prices move fast and can easily catch investors out.
And that’s not even going on to mention the risk of scams. Investors might want to instead consider an alternative strategy – meme coin presales.
Meme coin presales are very risky too. But the fact that the token hasn’t been launched yet gives investors more time to properly research what they are getting involved in, and plan a trading strategy.
Analysts at Cryptonews.com keep a close eye on the presale market and they have compiled a list of their favorite meme coin presales worth checking.
15 Best Meme Coins to Buy in July 2024
The post Top Crypto Gainers Today on DEXScreener – FOUR, EGG, LABUBU appeared first on Cryptonews.
