Here are your top cryptocurrency gains today on DEXScreener

Last Updated: May 24, 2024 7:25pm EDT | 2 minute read

Top cryptocurrency gains today on DEXScreener – EGOD, SMERF, HARAMBE / Source: Cryptonews

As major cryptocurrencies have remained stuck within recent ranges as traders digest Ethereum ETF approvals and warmer-than-expected U.S. economic data released this week, traders are turning to on-chain markets as they search for major cryptocurrency earnings today.

Bitcoin (BTC) last traded just below $69,000, up 4% this week.

Ethereum (ETH), meanwhile, is changing hands at $3,700, up more than 21% this week.

Both cryptocurrencies are currently trading 4-5% below their previous weekly highs.

Ethereum ETF Approvals represent an important bullish catalyst, but macroeconomic factors appear to have scuppered the market’s momentum.

As blue-chip cryptocurrencies struggle, traders are turning to alternative assets as they hunt for volatility.

And on-chain markets are the perfect place to make quick profits or losses.

Here are some of the top cryptocurrency gains today on Ethereum decentralized exchanges (DEX)as per DEXScreener.

Top cryptocurrency gains today

EGOD (EGOD)

A new meme coin that pays homage to the death of Kabosu, the Shiba Inu dog who inspired the creation of Dogemonetacalled EGOD (EGOD) was born on Friday and is performing well.

The token is up 15,900% since its launch, as per DEXScreener.

Its market capitalization was approximately $1.1 million, with liquidity of $200,000.

Degenerate Smerf (SMERF)

A new coin called Degen Smerf (SMERF) has grown 7,800% since its launch, according to DEXScreener.

Its market capitalization was around $300,000, with $70,000 in cash tied up.

Even if the token has only one flaw in its smart contract, according to an audit by Go+ Security, that doesn’t mean it isn’t a scam.

Traders must remember that almost all newly launched coins are scams or pump-and-dumps. Traders must do their due diligence before getting involved.

Harambe (HARAMBE)

Elon Musk tweeted to commemorate Kabosu’s death, saying he is in heaven with Harambe.

This spurred the creation of a new meme coin Harmabe. The latest was up 10,400%, as per DEXScreenerwith a market capitalization of $1 million.

The token has $176,000 in locked liquidity and two issues related to its smart contract.

Best alternative to consider

Investing in newly launched meme coins is fraught with risks.

Yes, some of these coins could 100x. But the vast majority will fail, and investors may never be able to find the cash to sell.

Their rapid price action tends to trigger FOMO in traders, who neglect to do the required due diligence.

A potentially better alternative to investing in newly launched meme coins is to invest in presales.

Here, traders have more time to research a project and see if it is right for them.

In fact, if a trader can reliably identify projects that end up gaining traction, he can make big profits.

Cryptonews analysts keep an eye on the presale market. Here are some of their best pre-sales for 2024.

22 Best Cryptocurrency Presales to Invest in Now

Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

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