On days when the crypto market consolidates, and Bitcoin (BTC) pumps following the news of favorable US economic data, it is customary for the crypto market to see major altcoins struggle. In this case, savvy traders shift their focus to the day’s top crypto gainers and surf through tools like DEXScreener to find big movers coasting through on-chain markets.
The anticipation of the US CPI and Federal Open Market Committee’s (FOMC) interest rate decisions have favorably affected the stocks and the crypto markets. According to data released, the month-on-month CPI is unchanged, while the year-on-year tally is 0.1% lower than the forecast.
At press time, Bitcoin is trading at $68,713 after recovering from $66,334, a 4% increase in 24 hours. Ethereum (ETH) is trading in the range of $3,555, while SOL, BNB, DOGE, and ADA are up by 2.04-2.8%.
With blue-chip assets not likely to excite much due to their prices, many traders are on the hunt for alternatives.
On-chain markets offer short-term profit potential but come with risks. Traders use tools like DEXScreener to identify the top crypto gainers today.
Investors must remember the risks that accompany such markets, however. Anyone can issue a coin in the on-chain market and nearly all new coins issued are potential pump-and-dump schemes.
Here are today’s top crypto gainers, according to DEXScreener.
Top Crypto Gainers Today
Kim Kardashian (BOOTY)
A newly launched meme coin called $BOOTY on the Solana blockchain, which is dubbed the popular Kim Kardashian, is pumping really hard.
The new Solana meme coin is up over 23,400% since launch, as per DEXScreener.
That pump has seen its market cap hit $564.5 million, and the token also has nearly $67,000 in locked liquidity.
The token does not have any observable smart contract or Go+ Security flaws, but that doesn’t guarantee that it’s legitimate.
Roaring Muscle Pepe (RMP)
The Solana memecoin is another new token that is pumping on Wednesday.
The new token, which launched about an hour ago, mimicked the viral mania of Pepe and the media visibility of Keith Gill, the American financial analyst and investor popularly known as Roaring Kitty.
According to DEXScreener, the RMP price has pumped 46,400% since its launch and is currently trading at around $215 million in market cap and about $370,000 in locked liquidity.
Game Cat (GMC)
A new token called Game Cat (GMC) is up big on Wednesday, gaining 6,300% in 24 hours.
That’s according to DEXScreener, which places its market cap at $310.3 million.
The token seems to be taking after the popular GameStop stock, which was also impacted by Keith Gill’s influence.
$GMC is Airdropping 8,888,888 Tokens! 🪂
– Like, RT and drop your $SOL address
– Follow and turn notifications onCheck your wallet in 24 hours pic.twitter.com/f6nU42ECBl
— GameCat (@GameCatSolana) June 12, 2024
Traders should be extremely cautious with this token, however. It has quickly grown to about $300M in market cap, with just 529 holders and two liquidity providers holding 99% of the supply.
Better Crypto Alternatives to Consider
Investing in brand new memecoins is very risky. It’s true that some of these coins could increase in value by 100 times or more.
But most traders won’t be able to buy in at the lowest price. The majority of memecoins will fail, leaving newbie investors as exit liquidity.
Price changes can cause FOMO (Fear of missing out), leading investors to rush in without researching. A better option is investing in crypto presales.
With presales, the investor has more time to study a project and see if it’s a good fit for them. Investors can make big profits if they can find projects that become popular.
With so many presales competing for investment, it can be difficult to know where to start.
That’s why analysts at CryptoNews closely watch the presale market and they have identified some of the top presales to invest in 2024.
Instead of chasing the latest memecoin craze, investors may find more stability by exploring thoroughly researched presale opportunities recommended by industry experts.
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.
