Altcoins
Top Crypto Gainers Today on DEXTools – POP, INEDIBLE, BABE
Last Updated: February 5, 2024, 9:49 PM EST | 3 minutes of reading
The rise in the U.S. Dollar Index (DXY) and rising U.S. government bond yields on Monday limited major cryptocurrencies’ gains, but that didn’t stop major crypto gainers today on DEXTools to pump.
The overall market slowdown was further fueled by further hawkish comments from US Federal Reserve Chairman Jerome Powell over the weekend, highlighted by last Friday’s bumper US jobs report. THE Fed Chairman once again pleads for patience on rate cuts in an interview broadcast on Sunday.
Despite the relatively tepid market conditions, $POP, $INEDIBLE and $PANDORA advanced and became the top crypto gainers today on DEXTools. Their low liquidity allowed relatively low buying pressure to generate exponential gains.
All of this helps to cap the price of Bitcoin (BTC) below $43,000, down from around $42,600.
Basic Market Analysis for Top Crypto Gainers
A lot ISM Services PMI report stronger than expected released Monday also helps cap gains in crypto, as it gives the market more reason to suspect Fed rate cut bets are further away.
According to CME Fed Monitoring ToolThe money market’s implied probability that the Fed will cut interest rates by 25 basis points in March was last around 15%, down from nearly 50% a week ago.
But Bitcoin and the market as a whole remains quite well supported.
BTC is currently easily holding above support in the $42,000 area.
This is probably because net flows to spot Bitcoin ETFs have been strong in recent sessions.
According to Coin SharesBitcoin ETFs attracted $700 million in net flows last week.
With the consolidation of major cryptocurrencies like Bitcoin, degens looking for quick exponential gains are turning to the shitcoin markets.
Small Cap Cryptocurrencies are almost always dynamic and almost always take on the role of the biggest crypto winners each day.
This is because their low level of liquidity means that relatively low buying pressure can easily lead to rapid exponential gains.
Even though blue-chip cryptocurrencies can offer good upside prospects, traders looking to make quick profits typically turn to small-cap markets.
That being said, here are some of the top gainers in crypto today on Web3 most famous decentralized exchange (DEX) tool DEXTools.
Top Crypto Gainers Today
Popeye ($POP)
A shitcoin called Popeye ($POP) is the top crypto earner on DEXTools on Ethereum today.
It was last up more than 900% in the last 24 hours.
The market capitalization of $POP was approximately $500,000 million.
It depends DEXToolswhich places token liquidity at around $300,000 with almost 600 holders.
According to the DEXTools security audit, the token has four concerning aspects in relation to its smart contract.
Inedible part ($INEDIBLE)
A token called Inedible Coin ($INEDIBLE) has been pumping since Sunday.
According to DEXToolsit increased by around 180% in 24 hours.
This makes it one of the top gainers in crypto today, with a market cap of around $1.9 million.
The token has almost $260,000 in locked liquidity, reducing the risk of an all-in pull.
It also has three smart contract alerts.
BABY ($BABY)
An experimental shitcoin called Pandora (PANDORA) is up over 200%, making it one of the top gainers in crypto today.
According to DEXToolsThe token’s market cap was around $46 million, with around $13.6 million in liquidity locked up.
$PANDORA has four smart contract alerts.
Crypto Alternatives to Consider
Small-cap coins can offer huge potential returns, but also carry a lot of risk.
For those looking for a greater likelihood 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:
See the 15 cryptocurrencies in presale
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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