Top crypto Gainers Today - DEX Market Buzz
While major cryptocurrencies are in a buoyant mood on Friday as risk appetite across financial markets improves, the top crypto gainers today are all to be found in the on-chain DEX markets. Newly launched crypto tokens with tiny market caps and little liquidity are surging exponentially higher within a short timeframe.
bitcoin (BTC) is up 2% in the past 24 hours, trading around $59,500 and eyeing a retest of its 50DMA at $60,000. Major cryptos have been pushing higher this week alongside stocks and gold in anticipation of a widely expected rate cut from the Fed next week.
Speculative risk assets like crypto thrive in an environment of easing financial conditions. Retail participation in crypto rises, particularly for newly launched on-chain DEX tokens. So, what are the top crypto gainers today according to DEXScreener?
Top crypto Gainers Today - Which Are They?
Department of Government Efficiency (Doge)
The Department of Government Efficiency (Doge) is a copycat version of a meme coin inspired by Elon Musk memes. This ethereum-based token has surged by a staggering 370,000% in the past 24 hours. With a market cap of $8.8 million and low liquidity, caution is advised as copycat coins often underperform or could be potential scams.
The original Doge meme coin's market cap reached $20 million at one point, emphasizing the speculative nature of these tokens.
Dark Wolf (DWOLF)
Another top gainer today is Dark Wolf (DWOLF), a Solana meme coin that has surged over 160,000% since its launch, reaching a market cap of $2.3 million. Despite impressive trading volumes, the token has low locked liquidity, posing risks of rapid price crashes.
MY DOG IS THE DEV (DEV)
MY DOG IS THE DEV (DEV), another Solana meme coin, has seen a strong 22,000% rally since its launch, with a market cap of $15 million. While popular among users, caution is necessary as most newly launched DEX tokens could be either scams or pump-and-dump schemes.
For a safer alternative, crypto investors may consider high-potential crypto presales where projects offer native tokens at discounted rates for early investors to fund development. This strategy allows ample time for research and potentially high returns if successful projects are identified.
Staying informed about crypto presales and monitoring market trends can lead to lucrative investment opportunities in the increasingly dynamic world of digital assets.
