DEXTools Logo / Source: DEXTools X Account
Blue-chip cryptocurrencies continue to consolidate within recent intra-day ranges, with Bitcoin (BTC) hovering in the upper $37,000s just below yearly highs as traders digest the latest US inflation figures and commentary from Fed policymakers.
Core PCE Price Index inflation figures for October came in as expected at 0.2% MoM, underpinning bets that the Fed won’t need to hike interest rates again and may start cutting rates in early 2024, though various Fed policymakers on Thursday warned that more rate hikes remain a possibility.
Bitcoin bulls will remain optimistic about the cryptocurrency’s short-term price prospects, with the cryptocurrency having continually found strong support at its 21DMA in recent weeks and threatening a break towards $40,000.
A recent uptick in demand for the Proshares’ Bitcoin Strategy ETF, a US-based bitcoin futures ETF that recently hit an all-time high in asset under management (AUM), shows that optimism about near-term spot Bitcoin ETF approvals remains high and institutions continue to position themselves in the expectations of more BTC price upside.
Dips may continue to be aggressively bought into for now.
Elsewhere, Ether ETH), BNB (BNB), XRP (XRP) and Solana (SOL) are all roughly flat on the day, in fitting with the tone of consolidation.
With blue chip markets quiet, crypto traders looking to turn quick exponential profits will continue to turn to the highly illiquid and volatile shitcoin/meme coin markets.
Here are some of the biggest gainers of the day according to decentralized exchange (DEX) analytics websites DEXTools.
Eternal AI ($MIND)
A shitcoin called Eternal AI ($MIND) that was launched on Thursday has seen explosive upside of more than 10,000% in the past 24 hours, as per DEXTools, making it the best-performing shitcoin of the day.
The token’s market cap was last around $1.65 million, with 24-hour trading volumes of around $1.9 million and just over 900 holders.
The token also has around $225,000 in locked liquidity, but investors should be cautious given its 5% buy and sell tax, other smart-contract issues (as per DEXTools’ audit) and its downvote rating on the platform of around 43%.
BABYFROGE ($BABYFROGE)
A shitcoin called BABYFROGE ($BABYFROGE) that was launched on Thursday has seen explosive upside of more than 7% in the past 24 hours, as per DEXTools, making it one of the best-performing shitcoins of the day.
The token’s market cap was last around $400,000, with 24-hour trading volumes of around $400,000 and just over 350 holders.
The shitcoin also has liquidity of around $180,000, though it isn’t locked, so investors should be cautious of a potential rug pull attempt.
Betrock ($BETROCK)
Crypto casino token Betrock ($BETROCK) has pumped more than 300% in the last 24 hours, as per DEXTools, making it a top-performing shitcoin.
Its market cap was last around $235,000, with around $80,000 in locked liquidity and 24-hour trading volumes of around $200,000.
But investors should be aware of its 3% and 3.31% buy and sell taxes and a few other concerning aspects to its token smart contract, as identified by DEXTools’ audit.
Crypto Alternatives to Consider
Shitcoins can offer huge potential returns but also come with a lot of risk.
Those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
The post Top Crypto Gainers Today on DEXTools – MIND, BABYFROGE, BETROCK appeared first on Cryptonews.