Top Crypto Gainers Today on DEXScreener – BEER, WTF, GENIE
As major cryptocurrencies slide amid a continued hangover from Wednesday’s hawkish Fed interest rate projections, with Bitcoin (BTC) back under $67,000 and Ethereum (ETH) under $3,500, traders looking for quick upside are turning to the on-chain micro-cap markets as they hunt for top crypto gainers today.
Bitcoin is currently eyeing a retest of its 50DMA just under $66,000. A break below here would open the door for a drop back to the low $60,000s.
Ethereum, meanwhile, is also eyeing a break below its 50DMA. A break under here could trigger a drop back to its pre-SEC Ethereum ETF approval levels just above $3,000.
For both cryptos, these could be great areas to get involved, with various fundamental tailwinds likely to come in later this year.
While the Fed are projected to cut rates more slowly than before, lower rates are coming in late-2024/2025.
The Fed dot plot projects Fed Funds Rate of 5.1% by the end of 2024. So the median projection of participants is one rate cut this year.
Dems are pressuring for a rate cut now. Will we see a politically motivated rate cut in September ahead of the election? pic.twitter.com/jEe6AWskDn
— Bitcoin Overflow (@btc_overflow) June 12, 2024
Politics could also be a huge boon for crypto, assuming a Donald Trump victory (he is the current favorite).
And ETF-related inflows are likely to be long-term tailwinds for both cryptos.
However, impatient traders looking to generate quick returns won’t want to wait until later this year to start making money.
Such traders often turn to the altcoin markets, or better yet, the on-chain micro-cap markets.
On-chain micro-cap markets refer to the market for crypto tokens issued directly on the blockchain, like SHIB on Ethereum.
Anyone can launch a new token at any point. As a result, new tokens are constantly springing up, most highly illiquid and volatile, and most either scams or pump-and-dumps.
Here are some top crypto gainers today according to DEX analytics tool DEXScreener.
Top Crypto Gainers Today on DEXScreener
Beercoin (BEER)
Following a spectacular insider selling debacle that killed a recent meme coin called BEER, a new copycat coin is pumping.
The new version of Beercoin (BEER) is up 750,000% to a market cap of nearly $460 million, per DEXScreener.
That’s a suspiciously large market cap for a just-launched coin, and could be a result of market manipulation.
The new token’s X account has also been restricted, another red flag. Speaking of red flags, 142 DEXScreener users have voted on the red flag emoji for the token.
Moreover, 44 have voted on the poop emoji, whilst only 13 have voted on the rocket. The community seems to think this is a scam coin and is probably best avoided.
WhatTheFuck (WTF)
A just-launched Solana shitcoin called WhatTheFuck (WTF) is up nearly 1,000,000% on Thursday, as per DEXScreener.
That has taken its market cap to around $750 million, again, suspiciously high for a just-launched coin.
The social media link on the token’s DEXScreener page goes to a weird X account with only four followers and one tweet, the contract code of the token.
That’s another big red flag. With under $700,000 in liquidity, tiny compared to WTF’s market cap, this coin is probably best avoided.
Genie (GENIE)
Andrew Tate-themed meme coin Genie (GENIE) is up 9,800% since launch, per DEXScreener.
Since Andrew Tate launched his own meme coin called Daddy (DADDY), dozens of Tate-themed coins have sprung up.
https://twitter.com/GenieTateOnSol/status/1801242558942654588
Most of these coins will fail to hold any long-term value. But with a market cap of just $10 million, GENIE could yet go higher.
Alternative Investment Strategy to Consider – Presales
The above coins present a lot of risk. For traders looking to turn a quick profit, a better investment strategy to consider might be investing in crypto presales.
Web3 projects often look to raise funds for development via a discount early bird sale of their native token.
Rather than needing to FOMO into the market amid price volatility, presale investors have time to properly scrutinize their investments.
If investors are reliably able to identify presales that gain traction in the market, they can generate huge gains.
Here are some of Cryptonews’ top picks.
15 Best Crypto Presales to Invest In Now
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.
