Here are the top crypto gainers today on DEXScreener

Last updated: May 7, 2024 at 8:38 p.m. EDT | 4 minutes of reading

Traders today are turning to tools like DEXScreener to find top crypto gainers on on-chain markets / Source: Cryptonews

On a mostly bearish day in the cryptocurrency market on Tuesday, Render (RNDR), Kaspa (KAS) and Tron (TRX) are the biggest gainers in crypto today and some of the only coins trading in the green at over the last 24 hours.

Each of these altcoins last increased between 1.5 and 5% in the last 24 hours.

Bitcoin (BTC), meanwhile, fell 1.2% on Tuesday to the all-time low of $62,000, after once again finding resistance at its 50DMA.

Although the world’s largest cryptocurrency remains significantly higher than last week’s lows, it suggests the bulls have not regained full control.

This shouldn’t be too surprising. THE The SEC hit Robinhood with a Wells notice this weekonce again putting US regulatory uncertainty in the spotlight.

The outlook for Bitcoin remains one of consolidation for the months to come. First, the summer months are generally not particularly exciting for BTC.

Second, post-halving rebounds generally don’t propel the price to new highs for about 4-6 months. The last halving took place only a few weeks ago.

Moreover, Fed rate cuts not expected before the end of the year. And a lot could still change that could push expectations for top-line cuts into 2025, such as continued U.S. economic strength and high inflation.

As a result, Bitcoin lacks the narrative strength to propel it higher at present. It will likely remain stuck in the recent $56,000-$74,000 ranges.

Bitcoin is not among the top crypto gainers today, and might not do so for some time as it languishes in recent ranges. Source: TradingView

With blue-chip cryptocurrencies unlikely to generate much excitement in the coming months, traders are looking for alternatives.

Given the prospect of getting rich quick, on-chain markets, which are highly volatile and illiquid, are one of the places traders are turning to.

They often use tools like DEXScreener to find the top gainers in crypto today.

But investors need to remember this: almost all new coins issued on-chain are scams, rug pulls, or pumps and dumps.

That being said, here are some of the top crypto gainers today on Ethereum according to DEXScreener.

Top Crypto Gainers Today on DEXScreener

WalletAI (WALLETAI)

A supposed just-launched AI wallet token called WalletAI (WALLETAI) is pumping on its first day.

The token is up 21,500%, according to DEXScreener, with a market cap of $1.6 million and $230,000 in locked liquidity.

But traders should be careful with this token. There is no information on his DEXScreener page – no Twitter, no website. Nothing.

Go+ Security also identifies three issues with its smart contract, including a 5% buying and selling tax.

This token could easily be some sort of rug pull or pump and dump scam. Investors should always do their due diligence.

BOBO (BOBO)

A just-launched shitcoin called Bobo (BOBO) is up 8,000% on the day, according to DEXScreener.

Its last market capitalization was $3.4 million, with $250,000 in cash released.

Like WalletAI, there is no information on its DEXScreener page. Investors should always familiarize themselves with a project before purchasing its token.

When they read a draft, they should not consider the red flags they notice, or the gut feelings they have that something is wrong.

BOBO only has one smart contract issue, according to Go+ Security.

Mew on ETH (MEW)

A cat-themed coin called Mew on ETH (MEW) rose over 3,000% in 24 hours, according to DEXScreener.

Despite these impressive gains, its market capitalization remains low, at just over $200,000. The token also has $70,000 in locked liquidity.

https://twitter.com/MewErc20/status/1787997709380571445

MEW seems designed for cat fans in the crypto space who might be fed up with the dominance of dog coins.

The meme coin has a telegram group that already has 144 subscribers.

Just because this piece contains more information than the others on this list doesn’t mean it can be trusted.

Investors should never risk more than they can lose in on-chain markets.

Best Alternative to Consider – Wiener AI (WAI)

Investors tempted to get into risky and speculative plays obviously have a high risk tolerance.

This risk appetite might be better served by a different strategy that, while risky, has higher upside potential.

The strategy in question is presale investing, which involves buying the tokens of upstart crypto projects before they gain traction.

Investing in pre-sale is risky because projects may not deliver on their promises or may not be adopted.

But if investors are able to reliably identify projects with high potential, they can realize significant gains.

A fun new AI meme coin called Vienna AI (WAI) has caught the attention of Cryptonews analysts.

The dog-themed meme coin Sausage offers a suite of practical AI trading capabilities and has already raised over $1.2 million.

Interested investors should act quickly, as the price of WAI will increase in 8 hours.

Currently priced at $0.000704, investors are buying WAI with a market cap of around $45 million.

But investors could be looking at gains of 10x or more if WAI manages to become a market leader.

Not only is WAI an exciting coin with AI capabilities, but it is also a passive income gem.

20% of the supply has been allocated to staking rewards. Presale investors are currently earning a massive 1,091% APY.

At this rate, investors can double their initial pre-sale investment in less than a month.

Buy Wiener AI here

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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