With blue-chip crypto prices under pressure on Tuesday, as pre-halving profit-taking following Bitcoin’s recent all-time highs and pessimism regarding the falling likelihood of spot Ether ETFs getting approval before the summer weigh on the market, traders looking to turn a quick profit are flocking to the on-chain meme coin markets on the hunt for top crypto gainers today.
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, 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 Ethereum that traders will be monitoring.
Top Crypto Gainers Today on DEXScreener
Byte ($BYTE)
A just-launched shitcoin called Byte ($BYTE) has pumped up 12,000% on Tuesday, as per DEXScreener.
Its market cap was last around $1.8 million, with around $30,000 in liquidity.
That’s impressive stuff for a first day of trade. But investors should be very cautious with this token.
The token has five concerning aspects to its smart contract, including that it is mintable, its tax is modifiable, and it has a 7% buy and sell tax.
VPS ($VPS)
Another just-launched shitcoin called IGET ($IGET) is pumping. It was last up over 9,000% on Tuesday, as per DEXScreener.
Its market cap remains a modest $1.1 million, with liquidity a decent $225,000.
Even though DEXScreener identifies no smart contract issues, investors should be very cautious with this coin.
There is no such thing as a zero-risk investment in the shitcoin markets.
Telenode ($TGPU)
A token called Book of Pepe ($BOPE) is up 80% in under 24 hours, as per DEXScreener.
Its market cap was last around $1.6 million with $150,000 in locked liquidity.
But investors shouldn’t let locked liquidity lure them into a false sense of security regarding this coin.
The token has three concerning aspects to its smart contract. Those include a potentially modifiable tax.
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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