Ethereum
Here are your top crypto gainers today on DEXScreener
Last updated: May 17, 2024 at 4:54 p.m. EDT | 3 minutes of reading
As blue-chip cryptocurrencies post a strong weekend, with Bitcoin (BTC), Ether (ETH), and Solana (SOL) up 2.5% to 5.5% each over the past 24 hours , traders are turning to the on-chain meme. coin markets as they search for the top crypto winners today.
Bitcoin surpassed $67,000 on Friday, while Ether and Solana hit the upper $3,000 and $160 levels, respectively.
US CPI data earlier this week bolstered hopes for multiple Fed interest rate cuts later in the year.
American core #inflation The situation is cooling for the first time in 6 months, a relief for the Fed and the financial markets. April’s core CPI, excluding food and energy costs, increased by 0.3% compared to March after +0.4% in the previous month. Over one year, it increased by 3.6% in April after +3.8% year-on-year in March. Generally… pic.twitter.com/0MzgiswrxF
– Holger Zschaepitz (@Schuldensuehner) May 15, 2024
That helped push major U.S. stock indexes back to record highs while weighing on the U.S. dollar and U.S. yields.
Spot Bitcoin ETF inflows also increased this week. According to Block dataentries have already reached $750 million since Monday.
At the same time, more than 500 asset managers have revealed their exposure to the new Bitcoin ETF in their 13F filings.
Among them, major and surprising names, such as Morgan Stanley and a US state pension fund.
In all this bullish news flow, it is no surprise that cryptos are trading with decent momentum.
Let’s not forget that The GameStop Roaring Kitty icon is also back Monday, injecting enormous enthusiasm into meme stock/piece of money markets.
With most major cryptocurrencies still well below yearly highs, the prospects for a continued rally are good.
For some traders, however, the prospect of an increase of 10 to 20% in a few weeks is not enough.
These traders prefer to turn to highly illiquid and volatile on-chain markets.
Traders frequently turn to tools like DEXScreener to search for newly issued cryptos that could quickly grow 100x.
Here are some of the top crypto gainers they will be watching on Ethereum today.
Top Crypto Gainers Today on DEXScreener
SPURDO (SPURDO)
A newly launched coin called SPURDO (SPURDO) is launched on Friday, up 323% in 24 hourss according to DEXScreener.
Its market capitalization was around $1.3 million, following a substantial pullback from the previous session’s highs.
The token has $150,000 in stranded liquidity, plus three concerning issues with its smart contract, identified by Go+ Security.
Traders should always do their due diligence before investing in new coins. Most are scams/pump-and-dumps.
Brett (BRETT)
An Ethereum copycat version of the popular coin Solana Brett (BRETT) is booming, up 200% on Friday.
The one and only $BRETT on ETH.
It’s time to get some.
0x240D6FAF8c3B1A7394e371792A3bf9D28DD65515https://t.co/mLKSrFRyh0
-Brett | ARMY | OG ETH TOKEN (@brettether) May 14, 2024
According to DEXScreenerits market capitalization was approximately $4.6 million with $260,000 of cash tied up.
Go+ Security identifies two smart contract issues, a blacklist and a whitelist.
Amaterasu Omikami (OMIKAMI)
An old coin, Amaterasu Omikami (OMIKAMI), launched in 2022, makes a comeback on Friday.
-Omikami (@Omikamitoken) May 16, 2024
After gaining more than 60% in 24 hours and 250% in two days, OMIKAMI reached a Market capitalization of $10 million.
The token currently has $440,000 in liquidity locked up and is unlikely to be a scam, given its age.
Better Crypto Alternatives to Consider
Trading new meme coins comes with many risks. Of course, some of these coins can be multiplied by 100 times or more.
But it is very unlikely that traders will enter directly at the bottom of the ladder. The vast majority of coins will fall flat and investors will likely not be able to find the liquidity to sell.
Additionally, rapid price action in the meme coin market tends to trigger FOMO among traders. They often fail to do due diligence.
A potentially better alternative to investing in meme coins that have just been launched is to invest in pre-sales.
Here traders have more time to research a project and see if it is right for them.
Investors can make big gains if they can reliably identify projects that are gaining traction.
With so many presales competing for investment funds, it can be difficult to know where to start.
This is why Cryptonews analysts are closely monitoring the presale market. Here are some of their best pre-sales for 2024.
21 Best Crypto Presales to Invest in Now
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.