Exploring the Top crypto Gainers Today on DEX Markets
As bitcoin hovers around the $59,000 mark, traders are closely watching the market dynamics. Amidst this, on-chain decentralized exchanges (DEX) are seeing significant volatility in top-performing cryptocurrencies.
A relatively new Solana-based meme coin named Kek (KEK) has surged by a remarkable 300% in the last 24 hours, as per data from DEXScreener. Despite this impressive rally, the coin's market capitalization remains modest at $150,000, with only about $40,000 in locked liquidity.
Traders need to exercise caution when dealing with KEK as user sentiment on DEXScreener indicates potential red flags associated with the coin. With 75 red flag emoji votes against 64 rocket ship emoji votes, there may be risks of a rug-pull scenario. It is essential for traders to only invest amounts they are prepared to lose.
Another Top Performer: EBULL
EBULL (EBULL), a base meme cryptocurrency, has also emerged as one of the top gainers in the crypto market today. Recording a staggering 212% surge in the past 24 hours, EBULL's market cap is currently around $40,000, with approximately $13,000 locked in liquidity.
Due to its low liquidity, EBULL remains highly susceptible to sudden price swings, posing potential challenges for traders. The volatile nature of on-chain DEX markets demands careful risk management to navigate through price movements.
VanGogh: The Tron-Based meme coin
Among the top gainers, VanGogh (VANGOCH), a Tron-based meme token, has risen by over 150% in the last 24 hours. With a market capitalization of $4.4 million and nearly $500,000 locked in liquidity, VanGogh has also attracted significant trading volume of close to $15 million.
Unlike some dubious meme coins, VANGOCH has garnered positive attention, receiving endorsement from Tron's founder, Justin Sun. Furthermore, the token boasts a favorable vote ratio on DEXScreener, with 728 rocket emoji upvotes compared to just 37 red flag emoji votes.
Considering a Safer Investment Strategy
While the allure of quick gains in meme coins may be enticing, the risks inherent in on-chain DEX markets cannot be overlooked. Most tokens in these markets are either scams or subject to pump-and-dump schemes, making them risky investments.
For traders seeking a potentially safer investment approach, exploring crypto presales could offer a more structured strategy. These private token sales allow investors time to conduct thorough due diligence before committing capital, thereby reducing the risk of impulsive investment decisions driven by FOMO.
Although presales also carry risks of project failure, they provide an opportunity to access promising crypto projects at discounted prices before they hit the open market. By staying vigilant and researching thoroughly, investors can mitigate risks associated with volatile on-chain DEX markets.
For those interested in exploring crypto presales, Cryptonews.com curates a list of top picks to consider for upcoming token sales. These carefully selected projects may offer investors a potential entry point into high-potential crypto assets at favorable terms.
Remember, investing in crypto assets carries high risks, and it is essential to conduct thorough research and practice risk management strategies. This article serves for informational purposes only and should not be considered as financial advice.
