As major cryptos struggle, despite just released softer-than-expected US CPI data that has helped shore up Fed rate cut bets starting September, traders are looking to on-chain markets as they hunt top crypto gainers today.
Bitcoin (BTC) slipped back below $58,000 during US trading hours as sell pressure at the 200DMA kept weighing.
Ethereum (ETH), meanwhile, pushed a little higher, but remained stuck in the mid-$3,100s.
Continued selling from miners and Mt Gox creditors, who are currently being repaid a huge amount of BTC, may keep major cryptos under pressure for some time.
That will tempt impatient traders to turn to riskier, more volatile cryptos, such as those traded on-chain.
Indeed, the top crypto gainers each day are normally newly launched coins on blockchains like Ethereum or Solana.
Most of these newly launched tokens have very thin liquidity and are either scams or pump-and-dumps.
But some can post massive gains. And savvy traders, if they get in and out at the right time, can bag huge gains.
That said, here are some top crypto gainers today on Ethereum, as per DEX monitoring tool DEXScreener.
Top Crypto Gainers Today
Elephant Penguin (EPENG)
A newly launched shitcoin called Elephant Penguin (EPENG), which appears to be based on a Family Guy character, is up big on Thursday, having risen 24,000% in the past 24 hours as per DEXScreener.
Its market cap was last around $1.1 million, with $1.8 million in 24 hour trading volumes.
Traders should be very cautious about this token. It has five concerning aspects to its smart contract, as per Go+ Security.
These include a modifiable tax, unrenounced ownership and a hidden owner.
Matt (MATT)
Another just launched shitcoin called Matt (MATT) has rallied 100% in 24 hours, taking its market cap to $9.3 million.
Thats according to DEXScreener, who puts its 24 hour trading volumes at $1.2 million.
MATT began as a private presale that reportedly raised $500,000 privately.
Crypto is Inactive, it’s time to invest in Private Sales
Previous summer, the biggest profit brought me Private Sales and I decided to discover public one
I came across @MATTCOINETH and let me explain why I am bullish
➨ $MATT Team just raised $500k in Institutional… pic.twitter.com/NlCcPNWnmt
— Ronin (@DeRonin_) July 9, 2024
The token has four issues with its smart contract, as per Go+ Security. That doesn’t mean its necessarily a scam or pump-and-dump.
Investors must always do their own research before investing in on-chain crypto markets. And they must never risk more than they can afford to lose.
Mini Donald (BARRON)
A meme coin themed on Donald Trump’s youngest son Barron Trump is pumping on Thursday, and is one of the top crypto gainers today.
https://twitter.com/MiniDonaldETH/status/1811395819444318526
As per DEXScreener, its market cap was last $3.9 million, with $350,000 in locked liquidity.
The token has also seen an impressive $5.9 million in trading volumes in the past 24 hours.
While this token does look legit on the face of it, it could easily still be a pump-and-dump like most others.
Crypto Alternatives to Consider – Presales
Rather than investing in the potentially scammy micro-cap meme coins, investors should consider meme coin presale investing.
Analysts at Cryptonews.com keep a close eye on the presale market. They have compiled a list of meme coin presales that they think have a lot of potential.
15 Best Meme Coins to Buy in June 2024
The post Top Crypto Gainers Today – EPENG, MATT, BARON appeared first on Cryptonews.
