With major cryptos set to end the week with healthy gains in the wake of the start of a new Fed rate-cutting cycle, traders looking for top crypto gainers today are turning their focus to the volatile on-chain DEX markets.
The Fed just cut interest rates by 50 basis points.
— Anthony Pompliano
Fire up the money printer too and we got a bull market on our hands.(@APompliano) September 18, 2024
Bitcoin (BTC), currently around $62,500, is currently on course to end the week at 5.7%.
Ethereum (ETH), meanwhile, is on course to post nearly 10% weekly gains.
But those gains pale compared to the gains seen by many much smaller tokens in the DEX markets.
Indeed, the top crypto gainers today or on any given day are almost always in the DEX markets.
That's because low liquidity means a relatively small amount of buy pressure exerts huge upward pressure on prices.
Of course, the opposite is also true—DEX tokens can lose their gains just as rapidly as they gained them.
These are very risky markets, not least because most newly launched coins are almost always either scams or pump-and-dump schemes.
That being said, here are some top crypto gainers today according to the DEX analytics tool DEXScreener.
Top Crypto Gainers Today – Which Are They?
Lemonrocks (LEMON)
A new AI project called Lemonrocks (LEMON) has exploded higher since its launch on Thursday.
According to DEXScreener, its market cap was last around $16.8 million, and it had over $600,000 in locked liquidity.
Its 155,000% gain in the past 24 hours makes it one of the top crypto gainers today.
While LEMON looks like a legitimate project, investors must always be cautious.
The token has several concerning aspects, including a modifiable tax and ownership that has yet to be renounced.
Traders must never risk more than they can afford to lose in the DEX markets.
Misha (MISHA)
Elsewhere, the Ethereum meme coin Misha (MISHA), seemingly based on Vitalik Buterin's dog, is one of the top crypto gainers today.
According to DEXScreener, the crypto was up 7,730% in the past 24 hours and reached a market cap of $5.5 million.
The token has seen a whopping $42 million in trading volumes since its launch late Thursday.
And it has amassed liquidity of around $700 million.
That's not bad, though if a major whale wanted to cash out, that still wouldn't be enough liquidity to prevent a massive price crash.
MISHA has one concerning aspect to its smart contract – ownership isn't renounced.
Traders must thus be very careful with this coin and always do their due diligence before getting involved.
WAGIE (WAGIE)
The last name on the top crypto gainers today list is a new Solana meme coin called WAGIE (WAGIE).
WAGIE’s market cap stayed at 1,870% in the past 24 hours, per DEXScreener, taking its market cap to $1.1 million.
The token has just $100,000 in liquidity and could easily crash to zero.
WAGIE also doesn't appear to have much by way of community, with weekly engagement on social media.
A better alternative might be for crypto investors to get involved in high-potential crypto presales.
New crypto projects often sell their native token at a discount to early investors.
Crypto presales usually last a few weeks, giving investors ample time to do their due diligence on a project before getting involved.
Analysts at Cryptonews.com monitor the crypto presale market closely. Here are some of their favorite projects right now.
17 Best Crypto Presales to Invest In Now
Alternatively, check out the video below by Cryptonews.com's in-house presale analyst, Chester, who currently discusses some of the highest potential presales.
The post Top Crypto Gainers Today on DEXScreener – LEMON, MISHA, WAGIE appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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