Altcoins
Top Crypto Gainers Today on DEXScreener – MDAI, COCO, TARGET
Last updated: March 15, 2024, 8:21 p.m. EDT | 2 minutes of reading
On a day when crypto markets succumb to profit taking, traders are turning to the on-chain shitcoin markets in order to look for top crypto gainers today that could generate quick profits.
Bitcoin (BTC) was last trading around $68,000, down about 3.5% over the past 24 hours. Ether (ETH), meanwhile, is down about 4.2% over the same period and is trading near $3,700.
Both cryptos continue to trade with gains of over 30% over 30 days, driven primarily by huge Spot Bitcoin ETF request.
But ETF buyers were strong enough to support the market on Friday. More traders started taking profits in the second half of the week as the macroeconomic backdrop turned into a headwind.
DXY and US yields rose this week as macro traders reduced their bets on Fed rate cuts following the latest CPI and PPI inflation figures.
Some believe that $74,000 may have been the peak before Bitcoin halving. If blue-chip markets are to spend the next few weeks consolidating/falling, on-chain shitcoin markets suddenly become more attractive.
On-chain markets refer to the market for digital assets that have been issued directly on an existing blockchain.
For example, the Shiba Inu (SHIB) the token is issued on Ethereum like a ERC-20 token.
These tokens can then be traded on decentralized exchanges, and perhaps also on centralized exchanges if they become large enough.
They are often called shit markets because virtually anyone can issue a token at any time.
As a result, these on-chain marketplaces are full of scams and pump-and-dump schemes.
Here are some of the top crypto gainers today on Ethereum that traders will be watching.
Top Crypto Gainers Today on DEXScreener
MindAI ($MDAI)
An AI shitcoin called MindAI ($MDAI) is up 6,753% in the last 24 hours, according to DEXScreener.
This makes him the leading crypto gainer on Ethereum today.
Its market capitalization was around $1.2 million, with just over $250,000 in cash tied up.
Potential investors should be very cautious of this coin, however, considering five concerning aspects of its smart contract.
These included; an editable tax, suspended transfers, a 5% buying and selling tax, and a whitelist function.
COCO ($COCO)
A shitcoin called Coco is up 1,800% in the past 24 hours, according to DEXScreenermaking it one of the top crypto gainers today.
Its market capitalization was $3 million, with $274,000 in cash tied up. There are also no smart contract issues.
But even if the token doesn’t look like a scam, shitcoins are all still very risky. The token is probably still a pump and dump scam.
Zero risk does not exist in the shitcoin market.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
A seemingly innocent project could easily turn out to be a scam, and a few large sell orders could easily drop the price by 80%.
A strategy that is still risky, but arguably offers a better risk-reward ratio is get involved in crypto presales.
The idea is that investors get tokens from promising, high-potential crypto projects/protocols at a discounted anticipated price.
These projects then put these funds to use, financing the development and commercialization of the protocol.
Although many things can go wrong when investing in cryptocurrency presales (unforeseen circumstances can prevent a project from realizing its vision), savvy presale investors routinely achieve gains of 10x or more.
With hundreds of pre-sale projects vying for investor funds, Cryptonews analysts have been combing the market.
Here are 14 of the pre-sale projects with the greatest potential.