Top Crypto Gainers Today on DEXScreener - HABIBI, CATDOG, CICADA
Top Crypto Gainers Today on DEXScreener – HABIBI, CATDOG, CICADA
Author Joel Frank Author Joel Frank About Author Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology... Author Profile Share Copied Last updated: August 13, 2024 04:58 EDT
Why Trust Cryptonews With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards , ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews
As the broader crypto market rallies in wake of softer-than-expected US PPI inflation data that helped spur Fed rate cut bets, and amid hopes that Wednesday’s CPI data further strengthen the rate cut narrative, traders are flocking to the highly volatile on-chain micro-cap markets as they hunt for top crypto gainers today.
🚨Just In: June US PPI annual inflation rises 2.2%, below expectations for 2.3%.
Core PPI inflation increased 2.4% Y/Y, compared to forecasts for a gain of 2.7%.
Looks like a September rate cut is coming. pic.twitter.com/MklYeZojVi — Jesse Cohen (@JesseCohenInv) August 13, 2024
Bitcoin (BTC) broke briefly back to the north of the $61,000 level on Tuesday amid a near 3% intra-day rally.
And most other major altcoins were also in the green, taking their cue from a US equity market rally.
As Fed rate cuts near, blue-chip cryptos could continue their recover and challenge recent highs.
That said, impatient traders looking for a faster path to riches often turn to the higher risk, higher reward on-chain micro-cap markets.
Micro-cap tokens trading on DEXs like Uniswap and Raydium can see huge exponential intra-day moves, thanks to the low liquidity.
Traders are often come to these markets due to the allure of going from “rags to riches”.
After-all, its not unheard of that a trader secures 100x or more gains on their initial capital.
Of course, these instances are exceedingly rare. More often than not, traders will lose most of, if not all, of their capital invested.
That’s not just because micro-cap coins are highly volatile. But micro-cap markets are replete with scams and pump-and-dumps.
Indeed, every traders base assumption should be that all newly launched tokens are scam until proven otherwise.
That said, here are some top crypto gainers today on DEXScreener that trader will be monitoring.
Top Crypto Gainers Today
A newly launched Solana meme coin called Habibi (HABIBI) has pumped up over 500,000% since launch, per DEXScreener.
That has seen the token claim a still small market cap of $400,000, making it one of the top crypto gainers today. HABIBI also has locked liquidity of nearly $500,000, more than 100% of its market cap.
That reduces the risk that a big sell order will trigger a massive price crash.
That doesn’t mean HABIBI is a safe coin to invest in, however. The community is suspicious of the token, with 11 red flag emoji votes to just 9 rocket emoji votes on DEXScreener.
The token also doesn’t appear to have any social media presence, another red flag.
CATGOD (CATDOG)
That makes it amongst the top crypto gainers today, although its market cap has only reached $100,000.
That suggests its still exceedingly early to get into this coin.
However, the community is highly suspicious. The token has almost no positive emoji votes, and eight red flag votes.
An Ethereum real-world GameFi coin called Cicada 3301 (CICADA) is up over 33,000% since its launch, per DEXScreener.
CICADA’s market cap was last around $1.9 million, with just shy of $300,000 in partially locked liquidity.
This coin could have potential to go much higher. Its at the heart of a fast-growing real world quest completing game, where the first users to complete the entire series of quests will win a big reward.
The game’s posters, randomly posted all over the USA, are already being scanned lots.
Our posters have been scanned over 28k times. Never expected these numbers! pic.twitter.com/CJ67OzqETh — Cicada 3301 (@cicada3301oneth) August 10, 2024
And the grand prize is already at over $30,000.
Currently sidequests cost $5 to spin for and are valued at $5000 each one! First to solve main quests are sitting at $10000 each treasure chest! — Cicada 3301 (@cicada3301oneth) August 13, 2024
Of course, this could just be an elaborate pump-and-dump scheme.
But if Cicada 3301 does garner a solid community, that’s the foundation for a higher valuation.
Alternative to Volatile On-chain Coins – Crypto Presale
Investors may want to consider meme coin presale investing rather than investing in top crypto gainers today in the micro-cap meme coins, which are exceedingly risky.
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
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.