Top Crypto Gainers Today on DEXScreener – CLYDE, Jud, BRUTE

Bitcoin top crypto gainer
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Hassan Shittu
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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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The cryptocurrency market experienced significant turbulence on June 11 as Bitcoin (BTC) and altcoins plunged into correction territory.Bitcoin dipped to nearly $66,000 amid traders’ anticipation of the upcoming U.S. inflation report and Federal Reserve meeting. Altcoins followed suit, with Ethereum’s ether (ETH), Solana (SOL), dogecoin (DOGE), Cardano’s ADA, and Chainlink’s LINK all enduring losses ranging from 6% to 9%.This downward movement led to over $250 million in liquidations of leveraged derivatives trading positions across crypto assets, marking the second substantial leverage flush within a week.

One primary reason for this pullback was investors’ “de-risking from crypto assets ahead of the May Consumer Price Index (CPI) report and the Federal Reserve meeting. Analysts noted that Bitcoin’s responsiveness to economic data has been significant, with its 30-day correlation with U.S. equities reaching its highest level since 2022.

The Federal Open Market Committee (FOMC) meeting and the release of interest rate outlooks, particularly the “dot plot, were considered major market movers.

Additionally, deviations in Bitcoin futures open interest on different exchanges suggested strategic moves by large players, potentially indicating accumulation strategies amid retail sell-offs. Some analysts viewed the downturn as an opportunity to accumulate coins.

Notably, the GameStop (GME) stock rally reversal also influenced sentiment within the cryptocurrency space. The decline in GME stock prices led to losses in related meme tokens, reflecting the interconnectedness between traditional stocks and certain cryptocurrencies.

Moreover, Bitcoin’s decline was also linked to the robust May employment report from the U.S., strengthening the U.S. dollar and contributing to rising Treasury yields. This, in turn, impacted Bitcoin’s valuation and raised concerns about potential further sell-offs.

Despite the sell-off, some market observers pointed out positive signs indicating a potential quick recovery.

Top Crypto Gainers Today

CLYDE (CLYDE)

A newly emerged token, CLYDE, is topping the list today. CLYDE is a Pacman-like game in which players compete in tournaments.According to data from DEXScreener, CLYDE has witnessed an astonishing surge, gaining a remarkable 15M% in just 24 hours.

This meteoric rise has propelled its market capitalization to a staggering $235 million as of this writing.

On June 5, Clyde announced the launch of their new token, $CLYDE, to take place on June 8. The launch started with a market capitalization of $100K.

According to Clyde, post-launch, users are encouraged to add $CLYDE to their @Blast_L2 deck for a chance to win the Blast Gold jackpot. Additionally, Blast Gold tournaments will be available for play after the launch.

Investors and traders closely monitor this unprecedented rally, and CLYDE is attracting substantial attention because it’s on top.

jud boolishgam (Jud)

Among today’s gainers that did pretty well is Jud, a token that has skyrocketed by over 1M% within 24 hours, according to data provided by DEXScreener. This unprecedented spike has propelled Jud’s market capitalization to an impressive $58.1 million. While the surge in value attracts significant attention from DEXScreener, it’s essential to note that Jude also does not have a community, making it no different from the last two. Traders are urged to proceed cautiously and conduct comprehensive research before engaging with these tokens.

Brute the Brett Killer (BRUTE)

BRUTE is a newly introduced token as well. BRUTE appears to be giving traders who missed the rise of WIF, Pepe, and Brett an opportunity to be involved. Within just 24 hours, BRUTE has surged by an astounding 1M%, and crossed 2,000 holders, according to DEXScreener.This rapid escalation has driven BRUTE’s market capitalization to an impressive $662 million.

Crypto Alternatives to Consider

Altcoins offer opportunities for quick gains in the crypto market. However, many well-established coins may not provide the potential for gains of upwards of 10x. For larger returns, investors need to get in early on newer coins.

However, trading newly launched meme coins is risky. While some might 100x or more, most will not, and finding liquidity to sell can be challenging. The fast price action of the meme coin market often triggers FOMO, leading traders to neglect due diligence.

A potentially better alternative is to invest in presales. This approach gives traders more time to research projects and determine if they align with their investment goals. Identifying projects that reliably gain traction can lead to significant gains.

For risk-tolerant investors seeking upside exposure, presale investing can be a promising strategy. Web3 startups often sell their tokens at an early discount during presales to fund development and build hype.

With many presales vying for investment funds, it can be tough to know where to start. Here are some of Cryptonews top picks for 2024.

15 Best Crypto Presales to Invest In Now

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