Top Crypto Gainers Today on DEXScreener – Moonwalk, FIRST, PEPER
As Bitcoin (BTC) regains poise on Tuesday to the north of $61,000, having momentarily dipped as low as the mid-$58,000s on Monday amid concerns about Mt Gox-related sell pressure, traders are hunting for top crypto gainers today that might be able to hand them quick gains.
Long bankrupt crypto exchange Mt Gox will begin repaying some 140,000 BTC to its credits next month.
This news triggered a 4.6% drop in the Bitcoin price on Monday, as investors bet that creditors would dump holdings.
But some analysts pushed back against this idea. Creditors have a decade to cash in on their holdings via selling their claims.
creditors have been stuck in mt gox bankruptcy for 10+ yrs–finally trustee says in-kind distribution of #BTC #BCH will begin in july. we think fewer coins will be distributed than people think & that it will cause less #bitcoin sell pressure than market expects
here's why 👇
— Alex Thorn (@intangiblecoins) June 24, 2024
That could mean that most creditors are, at this point, long-term holders who are less likely to sell.
Bitcoin also came close to hitting its 200DMA. This major moving average tends to act as a strong area of support during bull markets.
Altcoins markets, meanwhile, were mixed on Tuesday. ETH was last trading with gains of around 1.25% in 24 hours, as per CoinMarketCap.
Solana (SOL), XRP (XRP), Dogecoin (DOGE) and Cardano (ADA), meanwhile, were down 1-3% over the same time period.
As major cryptos struggle close to recent lows, traders looking for quick gains are turning to more volatile coins.
Many will be using tools such as DEXScreener to scour the on-chain markets for top crypto gainers today.
Here are some top performers they will be keeping a close eye on.
Top Crypto Gainers Today
Moonwalk (MOONWALK)
A new Michael Jackson-themed meme coin called Moonwalk (MOONWALK) has seen an explosive start to life.
MOONWALK, based on SOL, just launched and has already clinched a market cap of $5.7 million.
That’s according to DEXScreener, who puts its volume so far at $1.2 million.
However, MOONWALK, up over 62,000% since its launch, has just $42,000 in liquidity.
That means a tiny amount of sell pressure could easily crash the token to zero.
Potential investors must always remember – most newly launched meme coins are scams or pump-and-dumps.
They can quickly lose all of their initial investment into the on-chain markets.
First (FIRST)
A joke Solana coin called First (FIRST) is up over 68,000% on Tuesday, continuing strong momentum since launch on Monday.
The token claims to be a “test token” and jokingly advices investors not to buy it.
That hasn’t stopped it from reaching a $4.3 million market cap, and accruing $11 million in 24-hour trading volumes.
As per DEXScreener, the token only has $130,000 in locked liquidity.
Like with Moonwalk, that means relatively limited sell pressure could cause a major FIRST price crash.
Investors ought to tread very carefully.
Baby Pepe (PEPER)
A baby version of Pepe called Baby Pepe (PEPER) is currently trending.
The shitcoin is up close to 50,000% since its launch, having now reached a $4.5 million market cap.
The token has also already seen an impressive $10.4 million in trading volumes.
That said, you never know if those volumes have been artificially inflated in order to bolster the token’s appeal.
Indeed, some X users called out the token, claiming it has fake followers, fake volume and fake comments.
Fake followers, fake volume, fake comments…🚨
— babypepemama (@slavery2pepe) June 25, 2024
Buy at your own peril.
Better Alternative to Shitcoins – Crypto Presales
Sure, some of these coins could 100x.
But the vast majority will fall flat, and investors might never be able to find the liquidity to sell.
A potentially better alternative to investing in just-launched meme coins is to invest in presales.
With presales, traders have more time to research a project and see if it is a good fit for them.
Indeed, if traders can reliably identify projects that end up gaining traction, they could make big gains.
Analysts at Cryptonews keep a close eye on the presale market. Here are some of their top presales for 2024.
14 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.
