Top Crypto Gainers Today on DEXTools – POP, INEDIBLE, BEBE
A surging US Dollar Index (DXY) and rising US government bond yields on Monday capped gains in major cryptocurrencies, but this hasn’t stopped the top crypto gainers today on DEXTools from pumping.
The overall market dampening was fueled further by fresh hawkish commentary from the US Federal Reserve Chair Jerome Powell over the weekend that was underscored by last Friday’s bumper US jobs report. The Fed Chairman once again argued for patience on rate cuts in an interview aired on Sunday.
Despite the relatively tepid market conditions, $POP, $INEDIBLE and $PANDORA pumped and emerged as the top crypto gainers today on DEXTools. Their low liquidity enabled relatively small buy pressure to result in exponential gains.
All of this is helping to cap the Bitcoin (BTC) price under $43,000, which was last around $42,600.
Background Market Analysis for Top Crypto Gainers
A much stronger-than-expected ISM Services PMI report released on Monday is also helping to cap the gains in crypto, as it gives the market more reason to suspect further off Fed rate cut bets.
As per the CME’s Fed Watch Tool, the money market-implied probability that the Fed would cut interest rates by 25 bps in March was last around 15%, down from closer to 50% one week ago.
But Bitcoin and the broader market remain fairly well underpinned.
BTC is for now easily holding above support in the $42,000 area.
That’s probably because net flows into spot Bitcoin ETFs have been strong in recent sessions.
As per CoinShares, Bitcoin ETFs attracted $700 million in net flows last week.
With major cryptos like Bitcoin consolidating, degens hunting for quick exponential gains are turning to the shitcoins markets.
Small-cap cryptocurrencies are almost always pumping and nearly always also take the mantle for the biggest crypto gainers each day.
That’s because their low level of liquidity means that relatively small buy pressure can easily result in fast exponential gains.
While blue-chip cryptocurrencies can offer good upside prospects, traders looking to make quick profits usually turn to low-cap markets.
That being said, here are some of the top crypto gainers today on web3’s best-known decentralized exchange (DEX) tool DEXTools.
Top Crypto Gainers Today
Popeye ($POP)
A shitcoin called Popeye ($POP) is the top crypto gainer today on DEXTools on Ethereum.
It was last up over 900% in the past 24 hours.
$POP’s market cap was last around $500,000 million.
That’s according to DEXTools, which puts the token liquidity at around $300,000 with nearly 600 holders.
As per DEXTools’ security audit, the token has four concerning aspects to its smart contract.
Inedible Coin ($INEDIBLE)
A token called Inedible Coin ($INEDIBLE) has been pumped since Sunday.
As per DEXTools, it was last up around 180% in 24 hours.
That makes it one of the top crypto gainers today, with its market cap lasting around $1.9 million.
The token has nearly $260,000 in locked liquidity, reducing rug pull risk.
It also has three smart contract alerts.
BEBE ($BEBE)
An experimental shitcoin called Pandora (PANDORA) is up over 200%, making it one of the top crypto gainers today.
As per DEXTools, the token’s market cap was last around $46 million, with around $13.6 million in locked liquidity.
$PANDORA has four smart-contract alerts.
Crypto Alternatives to Consider
Low-cap coins can offer huge potential returns but also come with a lot of risk.
For 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:
See the 15 Cryptocurrencies in Presale
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.
