As the AI stock pump on Wall Street eases and major cryptocurrencies trade mostly trading in the red on Friday, highly risk-tolerant crypto degenerates are hunting for top crypto gainers today in the unregulated on-chain shitcoin markets.
Bitcoin (BTC) and Ether (ETH) were both last down around 1% in the past 24 hours, as per CoinMarketCap.
Both remain close to recent highs at $51,000 and around $2,950 respectively and within in recent ranges.
Traders continue to monitor themes such as Fed rate cuts, the upcoming halving, and an upcoming Ethereum blockchain upgrade.
As the 2024 rally in mega-cap cryptos takes a breather, traders hunting fast gains continue to flock to shitcoins.
Thanks to their tiny market caps, shitcoins and newly launched meme coins often post quick 10x gains.
Of course, just as easily as they can rally, they can also dump.
Indeed, almost all tokens in the shitcoin market are some form of pump-and-dump, rug-pull or scam.
Shitcoin traders use tools like DEXTools, which monitors the tokens trading on decentralized exchanges like Uniswap.
As per DEXTools, here are the top crypto gainers today in the unregulated shitcoin market on Ethereum.
PorkX ($PorkX)
A just-launched Reddit-themed shitcoin called Reddit ($REDDIT) has pumped nearly 240% in the past 24 hours, as per DEXTools.
The pump comes after Reddit filed to go public on Thursday and revealed it holds BTC and ETH.
$REDDIT’s market cap was last around $400,000, with around $190,000 in liquidity.
It has around 1,500 holders and saw $800,000 in 24-hour trading volumes.
This meme coin has been around since May 2023, so is unlikely to be a scam.
But it does have three smart contract alerts, so investors should be very cautious.
Zapicorn ($ZAPI)
Zapicorn ($ZAPI) has pumped another 120% in 24 hours, as per DEXTools, taking its one-week gains to over 1,100%.
Zapicorn claims to be the first memecoin conceptualized by decentralized AI.
Its market cap was last around $4.6 million with around $300,000 in liquidity.
It has an impressive 1,300 holders and has seen 24-hour trading volumes of $1.1 million.
Potential investors should be very cautious with this token, as DEXTools’ code auditor Quick Intel has detected a scam risk.
XRGB ($XRGB)
A just-launched shitcoin called XRGB ($XRGB) has pumped up over 100% on Friday, as per DEXTools.
Confusingly, there are two tokens with different contract addresses masquerading as of the same project.
That’s a big red flag.
XRGB claims to be both a protocol and a blockchain aimed at interoperability for Bitcoin and ERC404 assets.
Perhaps that explains why there are two tokens.
Either way, 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 reveals that the token is mintable, and also has three other concerning aspects.
As a reminder, newly launched coins are nearly always pump and dumps or scams.
So investors should always do their due diligence. There’s no such thing as zero risk.
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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