The latest strong-then-expected US GDP numbers for Q3, which also pointed at higher-than-expected inflation last quarter, have done little to impact cryptocurrency markets on Thursday, where the focus primarily remains on bullish narratives such as institutional adoption (with spot Bitcoin ETFs expected to soon get the green light in the US) and safe-haven demand.
Bitcoin (BTC) was last trading a touch lower in the past 24 hours in the $34,300s, while Ether (ETH) was last close to 2% higher over the same time period.
Bitcoin could soon find fresh bullish momentum with the cryptocurrency soon expected to enjoy a bullish “golden cross” – where its 50DMA moves above its 200DMA.
Ether, meanwhile, has broken convincingly back to the north of its 200DMA and is sat comfortably above $1,800, with bets rising for a near-term pump back to the north of the $2,000 level.
Most other major blue-chip cryptocurrencies are little moved on Thursday, though Dogecoin (DOGE) and Shiba Inu (SHIB) were up 12% and 8% in the last 24 hours, a sign that risk appetite is picking up in the market.
While crypto markets are flashing strong signals that the bull market has returned, the best place to secure quick exponential gains remains within the highly illiquid and volatile shitcoin/meme coin market.
Here are some of the top-performing low-cap coins, as per DEXTools.
Stakify ($SIFY)
A shitcoin called Stakify ($SIFY) that was launched earlier this week has pumped nearly 200% in the last 24 hours, making it one of the best-performing low-cap coins, as per DEXTools.
The token, which claims to power a platform that bridges innovation and yield in Decentralized Finance (DeFi), last had a market cap of around $1.5 million and 24-hour trading volumes of around $840,000.
$SIFY has nearly $200,000 in locked liquidity and close to 500 holders, but has a highly concerning 30% sell tax, which is modifiable to potentially even higher, as per DEXTools’ security audit.
Investors should be very careful that the token could therefore be a scam.
HairyPlotterFTX ($FTX)
A shitcoin called HairyPlotterFTX ($FTX), which is attempting to ride on the momentum of the ongoing trial of ex-FTX CEO Sam Bankman-Fried has been pumping in recent days.
$FTX was last up close to 200% in the past 24 hours, as per DEXTools, amid $160,000 in 24 hour trading volumes, and last had a market cap of around $300,000.
The token has over 1,300 holders and over $100,000 in locked liquidity, and only has one security alert regarding its smart contract, as per DEXTools’ security audit.
BarbieCrashBandicootRFK888Inu ($SOLANA)
Another shitcoin with a wild name called BarbieCrashBandicootRFK888Inu ($SOLANA) is pumping on Thursday, continuing its string of strong gains over the past four days.
$SOLANA was last up close to 200% in the last 24 hours, as per DEXTools, amid over $600,000 in 24-hour trading volumes.
The shitcoin’s market cap was last over $2 million, with over 2,100 holders and around $260,000 in unlocked liquidity.
The token’s smart contract only has one concerning aspect, as per DEXTools’ security audit.
Crypto Alternatives to Consider
Shitcoins can offer huge potential returns, but also come with a lot of risk.
Those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
See the 15 Cryptocurrencies
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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