With major cryptos likes Bitcoin (BTC) and Ether (ETH) consolidating close to two-week highs in the $70,000 and $3,600 areas, traders are turning to the on-chain shitcoin markets to find top crypto gainers today as they hunt for quick gains.
On-chain markets refer to the market for digital assets that have been issued directly on top of an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges (DEX), and also perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets and virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
But shitcoin markets are the only place to find tokens that can rally in the 50-100x region.
Here are a few of the top crypto gainers today on Ethereum that traders will be monitoring, as per DEXScreener.
Top Crypto Gainers Today
Voidz ($VDZ)
Voidz ($VDZ) has been pumping hard since its launch two days ago.
As per DEXScreener, it was last trading with gains of around 135,000% in the past 24 hours.
$VDZ’s market cap was last around $10.8 million, with just under $600,000 in liquidity.
Whilst those are very impressive numbers for a recently launched coin, traders should exercise extreme caution.
$VDZ has various concerning aspects to its smart contract that suggest it could be a scam.
Its tax (currently 5% buy and sell) is modifiable and Transfers are pausable.
Shiva Inu ($SHIV)
Another recently launched shitcoin called Shiva Inu ($SHIV) is also pumping hard.
As per DEXScreener, it was up 65,000% in 24 hours, reaching a market cap of $2.7 million. It also has $224,000 in locked liquidity, reducing rug pull risk.
But this token also has some concerning smart contract aspects, such as a modifiable tax.
It’s crucial that shitcoin traders always do their due diligence. These are very dangerous markets.
Decentralized Cloud Infrastructure ($DCI)
Decentralized Cloud Infrastructure ($DCI) is up 13,000% since launching on Ethereum earlier today.
Its market cap has now reached close to $3 million amid $1 million in trading volumes. The token also has $427,000 in locked liquidity.
But its issuer retains the power to change the token’s tax. This means, at any moment, they could jack up the tax to 100% and essentially steal all investors’ tokens.
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
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.
Read the full article here
