Wednesday was a day of consolidation for major cryptocurrencies, as markets took a breather from their recent pump and focus turned to macro themes like mega-cap earnings, US economic data and next week’s election, though top crypto gainers today in the DEX markets continue to see explosive moves.
As of Asia Pacific Thursday trade, Bitcoin (BTC) is consolidating in the $72,000s, but the stars could be aligning for a push higher.
The latest US GDP growth figures showed the US economy expanding at a healthy 2.8% annualized rate in Q3.
This strength is expected to carry over into the final quarter of the year which could support risk assets like crypto going into the year’s end, especially with the Fed also easing interest rates.
Alphabet and Meta earnings were robust, building on last week’s bumper Tesla numbers, setting up the prospect of a strong end to the year for big tech names.
Most important of all, the US presidential election nears and pro-crypto ex-President Trump remains the strong favourite, according to the betting markets.
That’s a lot of potential tailwinds for Bitcoin and other crypto majors. But some impatient crypto traders are looking for quick gains now.
So they head to the highly volatile and illiquid DEX markets, where new meme coins are popping up constantly.
Its not unheard of for a new meme coin to 100x from its DEX launch price, handing massive gains to early investors.
That’s why there is such fervour amongst traders as they jostle for the next low-cap gem.
But DEX markets are exceedingly risky – most newly launched coins never go on to gain any traction and most are either scams or pump-and-dump schemes.
That being said, here are some top crypto gainers today that traders will be watching on tools like DEXScreener.
Top Crypto Gainers Today on DEXScreener
Solana meme coin mondo (MONDO) is the first notable name on the top crypto gainers today list, having rallied a stunning 4,000% since its launch just under 24 hours go.
Per DEXScreener, its market cap was last around $2.6 million, though a stunning more than $20.9 million in tokens have changed hands.
The sudden surge in interest in the coin appears to have come in wake of a community takeover.
However, this is a common marketing stunt for new meme coins to try to create an aura of legitimacy.
With just $240,000 in liquidity, MONDO’s price could quickly crash to nothing if a few large sellers opted to cash out.
Elsewhere, another Solana meme coin called Hana (HANA) is up 2,200% in 24 hours, making it another one of the top crypto gainers today.
However, this coin looks very fishy. Its chart shows unnatural-looking price action. And the DEXScreener community seems skeptical – it has 8 red flag emoji votes to just 3 rocket ship emoji votes, while its X page suggests a lack of real engagement.
This coin could easily be a scam. Traders must always do their own research before getting involved in risky DEX market investments, and never risk more than they can afford to lose.
A less risky way to find low-cap gems might be getting involved in high-potential crypto presales.
Analysts at cryptonews.com are big fans of a new vote-to-earn, DAO-governed Chicken meme coin called Flockerz (FLOCK), whose fast-moving presale ranks it as one of the top crypto gainers today in the ICO world.
cryptonews.com‘s in-house presale analyst Crypto Arjay explains in the below video why he thinks FLOCK has huge potential.
Buy Flockerz Here
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