As crypto markets struggle amid fears that the Biden administration might dump Bitcoin ahead of November’s election, traders hunting for top crypto gainers today are turning to more speculative markets.
Bitcoin (BTC) retreated briefly below $66,000 on Tuesday as traders wait for Wednesday’s Fed meeting.
“The house view is for three Fed rate cuts beginning in September – I don’t dispute that, I’d be happy with two from my perch.”@Citi Research Head of U.S. Equity Research Scott Chronert looks ahead to this week’s FOMC meeting, predicting stocks can still climb higher in 2024. pic.twitter.com/aDDF7M1VeF
— Money Movers (@moneymoverscnbc) July 30, 2024
The Fed could bolster crypto market sentiment, assuming it tees up a rate cut for September.
However, impatient traders looking for quick gains continue to turn to micro-cap altcoins markets.
They use tools such as DEXScreener to monitor the market for newly launched meme coins and shitcoins.
Such assets are exceedingly risky. Most of these newly launched tokens are either scams and/or pump-and-dump schemes.
But these coins sometimes post rapid exponential gains, netting early investors huge profits.
Here are some of the top crypto gainers today on DEXScreener that traders will be watching.
Top Crypto Gainers Today
Tsutsuji (TSUJI)
A newly launched cat-themed Ethereum meme coin called Tsutsuji (TSUJI) is pumping hard on Tuesday.
It was last up over 110,000% since its launch, per DEXScreener.
That’s taken its market cap above $5 million and its liquidity to around $300,000.
The token appears to have a decent community standing, with over 780 rocket ship emoji votes in DEXScreener to 191 red flag emoji votes.
That doesn’t mean the token isn’t a scam of some sorts. And a few big sell orders could see the Tuesday pump quickly reverse.
Traders must do their own due diligence before getting involved and never risk more than they can afford to lose.
Frosty the Polar Bear (FROSTY)
Another just launched meme coin, this one on Solana, called Frosty the Polar Bear (FROSTY) is up 85,000% so far.
That’s taken its market cap to $4.2 million. But with just $250,000 in liquidity, a few big sell orders could see the FROSTY price plummet.
The token seems to be popular in the community. It has over 300 rocket emojis on DEXScreener to just 19 red flag votes.
Of course, as noted above, that doesn’t mean that FROSTY isn’t a scam.
FWOG (FWOG)
Another just launched Solana meme coin called FWOG (FWOG) has pumped a stunning 20,000% to attain a $13.2 million market cap. That makes it a top crypto gainer today.
That’s according to DEXScreener, who last put FWOG’s liquidity at over $600,000.
FWOG has been a very active token so far. It has seen around $90 million in trading volumes so far.
This community-issued meme coin could be on the path to success.
But, as noted, meme coin markets are exceedingly. And just as a coin might be able to 100x, it could also quickly implode by 99%.
Crypto Alternatives to Consider – Presales
Investors may want to consider meme coin presale investing rather than investing in highly risky micro-cap meme coins.
Analysts at Cryptonews.com keep a close eye on the presale market. They have compiled a list of meme coin presales that they think have a lot of potential.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
