Altcoins
Top Crypto Gainers Today on DEXTools – 10000X, BabyGrok, SaFLok
Last Updated: December 4, 2023 at 6:49 PM EST | 3 minutes of reading
Blue chip cryptocurrency markets are booming on Monday, led by Bitcoin (BTC), which just surpassed $42,000 for the first time since April 2022, snapping its four-day winning streak to top 10 %.
A cocktail of bullish catalysts are cited to support the BTC rally, including: 1) continued near-term optimism spot Bitcoin ETF approvals which raises optimism about institutional adoption, 2) an improving macroeconomic outlook investors bet a Fed rate cut cycle is near3) chat Qatar’s sovereign wealth fund steps in to buy BTCand other factors such as bullish technicals and the upcoming BTC halving.
Bitcoin bulls will expect a near-term test of the next major resistance level just below $43,000 within a few days, and possibly a retest of 2022 highs around $48,000 before the end of the year.
Ether (ETH), meanwhile, was last up 3% in the past 24 hours and hit new yearly highs above $2,200.
Although the near-term outlook for major cryptocurrencies is strong, investors looking for quick exponential gains will continue to gravitate toward highly illiquid cryptocurrencies. shit/piece of money markets.
Here are some of the biggest gainers according to the decentralized exchange analysis website DEXTools.
10,000X ($10,000X)
A shitcoin called 10000X ($10000X) that launched last week saw an impressive 800% pump in the last 24 hours according to DEXToolsmaking it one of the best performing shitcoins of the moment.
$10,000 of liquidity.
According to the DEXTools security audit, the token has three smart contract alerts, so investors should be careful as the token could be a scam.
Baby Grok ($BABYGROK)
A shitcoin called Baby Grok is up 500% in the last 24 hours, according to DEXTools.
$BABYGROK last had a market capitalization of around $4.4 million, with the token amassing over 900 holders.
Bulls should be aware that the latest price rally was fueled by just $265,000 in 24-hour trading volumes and that liquidity is thin at just $110,000, so a few large sell orders could quickly see all recent gains reversed.
Safefloki ($SaFLok)
A new shitcoin called Safefloki ($SaFLok) has exploded over 300% in the last 24 hours, according to DEXTools.
The token last had a market cap of around $165,000, locked liquidity of around $156,000, just under 250 holders, and an impressive 24-hour trading volume of $670,000.
But investors should be wary of three concerning aspects of its smart contract, as identified in DEXTools’ security audit, including the possibility that the token is a so-called honeypot scam.
Crypto Alternatives to Consider
Shitcoins can offer huge potential returns, but also carry a lot of risk.
Those looking for a better probability of short-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of new crypto projects to help fund their development.
These tokens are almost always sold cheaply, and there is a long history of presales offering huge exponential gains to early investors.
Many of these projects have fantastic teams and a great vision behind them to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward ratio of their pre-sale investment is very good.
The Cryptonews team spends a lot of time going through pre-sale projects to help investors.
Here is a list of 15 of what the project considers to be the best crypto presales of 2023.
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website you agree to our terms and conditions. We may use affiliate links in our content and receive a commission.