Blue-chip cryptocurrencies are having another strong day today, with the top crypto gainers seeing increases of up to 16% in 24 hours and 30% in a week.
Today’s bullish performance comes as the market continues to gain momentum en route to what many are expecting will be a full-on bull market in 2024.
Major causes of this potential bull market are likely to come from the SEC formally approving Bitcoin ETFs, as well as from the Fed cutting rates and the next Bitcoin halving in April.
Bitcoin itself is having a relatively quiet day as far as 24-hour movements are concerned, but with the coin now up to $43,500, it has risen by 12.5% in a week and by 159% in the last 12 months.
And while the industry still faces several regulatory challenges, the completion of Ripple’s case with the SEC next year is also likely to provide further clarity and optimism, boosting prices further.
It has also been a good day for meme tokens and junk coins trading (mostly) on DEXes, with the following article providing a rundown of the top crypto gainers today on DEXTools.
PEPEFace (PPFace)
New ‘deflationary’ meme token PEPEFace (PPFace) has had an interesting few days, having gained by approximately 18,000% on Sunday and then collapsed by 99% on Wednesday.
However, as its chart below shows, it has now seemingly come back from the dead, rising by 762% in the past 24 hours and reaching a current value of $0.002216.
DEXTools puts its market cap at around $2.2 million, with a total supply of 1 billion tokens and a holder count of only 288 addresses.
It’s currently trading on Uniswap against Wrapped Ethereum (WETH), and while it has a low project reliability score, its resurgence today may tempt a few traders.
Gemini (GEMINI)
Also trading on Uniswap against WETH, GEMINI has gained by 19,000% in the past 24 hours, according to DEXTools.
So far, it still appears to be rising, with modestly increasing volume and no signs (as of yet) of any rug pull.
As some traders may be aware, this new GEMINI meme token has shamelessly appropriated the name of Gemini, a suite of AI- and machine learning-based tools recently announced by Google.
It isn’t the first junk coin to do this, with Gemini AI (GEMINI) pumping and dumping earlier in the week.
#PeckShieldAlert #slippage Gemini Ai $Gemini has dropped -99.58%
The address 0x6Caa…3129 has swapped 4,248,342,655,043,365.9 $GEMINI for 133.97 $WETH (~$299.7K)
*Note*: The #rugpull token may share the same name as the legitimate ones pic.twitter.com/ST60nxpWYI— PeckShieldAlert (@PeckShieldAlert) December 7, 2023
Traders should therefore proceed with caution.
Sect Bot (SECT)
Unlike GEMINI and PPFace, Sect Bot (SECT) is a bonafide cryptocurrency project, with the coin being the native token of a recently launched Telegram bot that incentivizes competition among traders.
It listed on Uniswap on December 6, and is currently trading against Ethereum (ETH), with the token being up by 3,700% in the past 24 hours.
Also in contrast to the two coins above, Sect Bot has a more tangible and significant online presence, with its Twitter account having around 2,700 followers and with the project claiming 500 Telegram groups are now using its bot.
The adoption is exploding. Already over 500 groups and 350,000 members have access to our bot.
You can expect this number to increase drastically.🤝
Be prepared for global call competitions to win ETH rewards!
Stay tuned!
Higher.#SectBot #Launch #TogetherWeExcel
— Sect Bot (@thesectbot) December 7, 2023
As such, it may be one to watch for the future.
Crypto Alternatives to Consider
While the above are the top crypto gainers today on DEXTools, they potentially carry risks, so many traders may prefer to look elsewhere for market-beating gains.
There are numerous other new alts that come with more solid fundamentals and use cases, with some of these currently holding their presales and looking to list very soon.
Bitcoin ETF Token (BTCETF)
One of the strongest of these is Bitcoin ETF Token (BTCETF), an ERC-20 cryptocurrency that has now raised more than $3 million in its ongoing sale.
Insights from @Fidelity Jurrien Timmer shed light on a potential #BitcoinETF approval.
Will it trigger a ‘sell-the-news’ reaction or attract a new wave of stakeholders? 🤔📈
What impact do you think the #SEC‘s decision on a #Bitcoin #ETF will have on the market sentiment?
— BTCETF_Token (@BTCETF_Token) December 8, 2023
What’s attracted investors to BTCETF is that the token plans to burn 25% of its total supply over time.
It will execute burns of 5% of its supply whenever Bitcoin ETFs or Bitcoin itself reaches particular milestones, with the first coming when an SEC-approved Bitcoin ETF reaches a trading volume of $100,000.
Its aggressive deflationary tokenomics could potentially boost its price over time, with investors able to join its presale by going to its official website.
Meme Kombat (MK)
One other highly promising presale coin Meme Kombat (MK), an ERC-20 cryptocurrency that has raised $2.6 million to date.
HUGE buy to push the $MK presale past $2.5 million!!!
Get ready for your NFTs🤩 pic.twitter.com/a9BnCNNjsL
— Meme Kombat (@Meme_Kombat) December 6, 2023
While Meme Kombat is ostensibly another meme token, it is also a decentralized gambling platform, albeit with a difference.
In contrast to online casinos, it will enable its users to place bets on AI-generated battles between memes.
It will randomize these battles and process their events on the Ethereum blockchain, making results transparent and fair.
It will also visualize battles in real-time, providing users with an entertaining focus for their bets against each other (or against the platform).
As with Bitcoin ETF Token, it’s set to launch in the New Year, with the coin available now via its website.
Given the fundamentals of both tokens and the novel use cases, both have a very strong chance of rallying big once they list on exchanges, and becoming top crypto gainers in their own right.
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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