Top Crypto Gainers Today On DEXScreener – EGOD, SMERF, HARAMBE
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Top Crypto Gainers Today on DEXScreener – EGOD, SMERF, HARAMBE
With major cryptocurrencies stuck within their recent ranges as traders digest Ethereum ETF approvals and the better-than-expected US economic data released this week, traders are turning to on-chain markets in pursuit of today’s top crypto gainers.
Bitcoin (BTC) was last trading just below $69,000, up 4% this week.
Ethereum (ETH), meanwhile, is changing hands for $3,700, up over 21% this week.
Both cryptocurrencies are currently trading 4-5% below their previous weekly highs.
Ethereum ETF approvals are a major bullish catalyst, but macro headwinds appear to have slowed the market’s momentum.
As blue-chip cryptos struggle, traders chasing volatility are turning to alternative assets.
And on-chain markets are the perfect place to make quick gains or losses.
Here are some of today’s top crypto gainers on Ethereum decentralized exchanges (DEX), according to DEXScreener.
Today’s Top Crypto Gainers
EGOD (EGOD)
A new meme coin called EGOD (EGOD) to commemorate the death of Kabosu, the Shiba Inu dog who served as the inspiration for the invention of Dogecoin, emerged on Friday and is performing well.
The token is last up 15,900% since its launch, according to DEXScreener.
Its market capitalization was last at around $1.1 million, with liquidity of $200,000.
Degen Smerf (SMERF)
According to DEXScreener, a new shitcoin called Degen Smerf (SMERF) is up 7,800% since its launch
Its market cap was last seen at around $300,000, with $70,000 in locked liquidity.
Although the token only has one issue in its smart contract, according to a Go+ Security audit, that doesn’t mean it isn’t a scam.
Traders should keep in mind that almost all newly launched coins are either scams or pump-and-dumps. Traders need to do their due diligence before getting involved.
Harambe (HARAMBE)
Elon Musk tweeted that he was in heaven with Harambe in commemoration of Kabosu’s death.
This has sparked the creation of a new Harmabe meme coin. According to DEXScreener, it was last up 10,400% and had a market cap of $1 million.
The token has $176,000 in locked liquidity and two concerning issues with its smart contract.
Better alternative to consider
Investing in newly launched meme coins comes with risks.
Yes, some of these coins could increase 100x. But the vast majority will fail and investors may never be able to find the liquidity to sell.
Their rapid price movement tends to trigger FOMO in traders who neglect the necessary due diligence.
A potentially better alternative to investing in just-launched meme coins is investing in presales.
Here, traders have more time to research a project and see if it is right for them.
If a trader can reliably identify projects that end up gaining traction, they can actually make big profits.
Cryptonews analysts are closely monitoring the presale market. Here are some of their top pre-sales for 2024.
22 Best Crypto Pre-sales to Invest In Now
Disclaimer: Crypto is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
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