Top Crypto Gainers Today on DEXTools – Data, CATBOY, SONA
Blue chip cryptocurrencies have pushed to fresh multi-month/year highs on Monday, but their impressive gains are dwarfed by the gains being enjoyed by top crypto gainers today in the on-chain shitcoins markets.
Bitcoin (BTC) just pushed into the mid-$53,000s for the first time since late-2021 in a knee-jerk, short liquidation-driven move.
Ether (ETH), meanwhile, was last trading in the mid-$3,100s, both seemingly supported by ETF-related tailwinds.
BTC and ETH were both lost up close to 4% in the past 24-hours.
Whilst that’s impressive, it’s nothing compared to the gains that shitcoins can experience in even shorter time periods.
That’s because, owing to their tiny market caps and liquidity, a small amount of buy pressure can trigger big moves.
Here are some of the top crypto gainers today in Ethereum’s on-chain market, as per DEXTools.
Top Crypto Gainers Today
DataToken ($DATA)
A recently launched shitcoin called DataToken ($DATA) is up over 11,000% on Monday, as per DEXTools.
But its still tiny market cap of only $165,000 suggests the token is nothing to get excited about.
$DATA last had liquidity or around $185,000, around 300 holders and $65,000 in 24-hour trading volumes.
While it looks like a dodgy coin, it has a squeeky clean audit record, with no smart contract issues identified.
Catboy ($CATBOY)
A shitcoin called Catboy ($CATBAY) has pumped up nearly 1000% on Monday.
Its market cap was last around $1.77 million, with around $440,000 in liquidity, as per DEXTools.
It has an impressive more than 900 holders and has seen 24-hour trading volumes of $1.2 million.
The token has been around for nearly three months.
But it has a concerning eight smart contract issues, including a modifiable tax, which was last at 3%.
Sonata Network ($SONA)
Decentralized launchpad protocol Sonata Network ($SONA) has suddenly pumped to fresh all-time highs in the past two sessions.
$SONA was last up over 200% in the past 24 hours, as per DEXTools.
Its market cap was last around $2.5 million, with around $300,000 in locked liquidity.
Despite good progress in recent days, traders should remember that low-cap coins are nearly always pump-and-dumps or scams.
So investors should always do their due diligence. There’s no such thing as zero risk.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily turn out to be a scam, and a few big sell orders could easily drive the price 80% lower.
A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales.
The idea is that investors secure tokens of up-and-coming, high-potential crypto projects/protocols at a discounted early price.
These projects then put those funds to work, paying for protocol development and marketing.
While lots can go wrong when investing in crypto presales—unforeseen circumstances can prevent a project from delivering on its vision—savvy presale investors routinely secure gains of 10x or more.
With hundreds of presale projects vying for investor funds, analysts at Cryptonews have been combing the market.
Here are 14 of the presale projects with the highest potential.
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.