As blue-chip crypto markets swoon on Tuesday, traders hunting for top crypto gainers today are flocking to the on-chain shitcoin/meme coin markets in the hope of securing quick 10x gains.
Bitcoin (BTC) and Ether (ETH) are both down around 5% in 24 hours, as markets swoon amid macro headwinds.
Strong US manufacturing data on Monday has been interpreted by the market as likely to delay Fed rate cuts.
The US dollar and US bond yields have since vaulted higher, pressure US stocks and the crypto market.
Bitcoin was last trading near $66,000, having dipped as low as the $64,000s earlier in the day. The US government moved $2.1 billion of its confiscated Silk Road Bitcoin to Coinbase earlier, triggering jitters of a fire-sale.
Ether, meanwhile, was last trading just under $3,300.
Rather than jumping into the bearish blue-chip market, many would prefer to bet on newly launched shitcoins.
On-chain markets refer to the market for digital assets that have been issued directly on top of 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 perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets and 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 various blockchains that traders will be monitoring, as per DEXScreener.
Top Crypto Gainers Today
HashAI (HashAI)
A just-launched supposedly AI shitcoin called HashAI (HashAI) is up 1,000,000% in 24 hours, as per DEXScreener.
The Ethereum launched token has a market cap of last around $94 million.
Its liquidity pool, meanwhile, has $1.9 million, which has been locked.
24-hour volumes sit at $17 million, with over 3,000 unique wallets having traded the token.
These are very impressive numbers. But traders should beware.
DEXScreener’s smart contract audit reveals seven issues with the token’s smart contract.
These include that the 5% buy and sell tax is modifiable. Moreover, ownership hasn’t been renounced and there is a trading cooldown function.
It’s crucial that shitcoin investors always do their due diligence before investing.
Else they could easily fall prey to a scam or rug pull.
SOLIDX (SOLIDX)
A recently launched shitcoin called SOLIDX (SOLIDX) is also up 1,000,000% in 24 hours, as per DEXScreener.
The PulseChain-launched coin last had a market cap of $227 million.
Despite that heft valuation, it only saw $2.5 million in 24-hour trading volumes. Also, it only has a comparatively tiny liquidity pool of $400,000.
The Quick Intel audit of its smart contract shows no concerning issues.
Still, potential investors should be very careful.
Susan (SUSAN)
A new Solana meme coin called Susan (SUSAN) has pumped up 227,000% since its launch on Tuesday, as per DEXScreener.
$9.5 million in trading volumes have taken the token’s market cap to a solid $2.8 million. The token also $120,000 in locked liquidity.
Traders should be very cautious investing in this coin, as it could easily still be a rug pull or scam.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily 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
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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