Following a choppy day in blue-chip crypto markets on March 12 that saw Bitcoin (BTC) hit fresh all-time highs (ATHs) above $73,000 before dropping as low as the $68,000s, markets are stabilizing and traders are turning to on-chain shitcoin markets to hunt for top crypto gainers today.
Profit-taking and long-liquidations saw BTC reverse sharply lower after fresh ATHs were printed above $73,000.
But Bitcoin has since rebounded strongly back towards $72,000, and remains 13% up in seven days, as per CoinMarketCap.
Indeed, Bitcoin is up a staggering 47% in 30 days, propelled higher by a powerful wave of ETF demand.
Bulls remain very much in control, and there remains an outside chance that the cryptocurrency can challenge $100,000 soon.
That’s because hype surrounding the halving in April, which will halve BTC’s inflation rate, is yet to hit fever pitch.
The prospect of quick potential 40% gains from here means Bitcoin certainly ranks as a great crypto to buy for near-term gains.
But some highly risk tolerant investors are seeking gains an order of magnitude greater.
10-20x gains are possible to find in some corners of the altcoin market, if an investor gets lucky.
But a place where it is much more common to find cryptos pumping 10-20x in short time period is in the on-chain shitcoin markets.
On-chain markets refer to smart-contract-based crypto tokens issued on top of the blockchains like Ethereum and Solana and traded via decentralized exchanges.
There is virtually no barrier for anyone to create a new shitcoin at any time.
On-chain shitcoin markets are, unsurprisingly, highly illiquid and volatile.
Newly launched coins can easily 10 or even 100x in one day.
They can just as easily lose nearly all of their value in an instant.
Traders should also be warned that most shitcoins are either scams or pump-and-dump schemes.
Due diligence is crucial before getting involved in these risky markets.
All that being said, here are some of the top crypto gainers today on DEXTools.
Top Crypto Gainers Today
Animax AI ($ANAI)
A just launched “AI” use case shitcoin called Animax AI ($ANAI) has pumped up 6,000% on Tuesday, as per DEXTools.
That has seen its market cap rise to just over $900,000, with 115 holders.
The token has $250,000 in locked liquidity, reducing rug pull risk.
That being said, the token could still be a scam.
As per DEXTools’ smart contract audit, Honeypot.io thinks it is a honeypot scam.
HubAI ($HUBAI)
Another just launched “AI” shitcoin called HubAI ($HUBAI) has pumped 2,800% in the past 24 hours, as per DEXTools.
The shitcoin’s market cap was last around $600,000, and it has locked liquidity of around $220,000.
But there is disagreement amongst smart contract auditors over whether it’s a honeypot scam or not.
Investors should be very careful to do their due diligence.
Pigeon Park ($PGENZ)
A recently launched P2E gaming token called Pigeon Park ($PGENZ) is pumping.
As per DEXTools, it was last up 550% in the past 24 hours.
Its market cap, meanwhile, was last $2.27 million, with around $1.2 million in locked liquidity.
Alternatives to Consider – Smog (SMOG)
Shitcoins are highly risky. Most are either outright scams or, at the very least, pump-and-dump schemes designed to leave unsuspecting investors holding the bag.
A much better strategy is to look for more established meme coins that already have a presence but haven’t seen a massive pump just yet.
One such meme coin is a recently launched Solana coin called Smog (SMOG).
Its price has pumped nearly 6x since late February to reach a market cap of $170 million, as per DEXTools.
The dragon-themed token markets itself as offering Solana’s greatest airdrop of all time.
Traders can qualify for the airdrop by buying and holding SMOG on Solana, or staking the token on Ethereum.
Even though its market cap remains modest, SMOG already boasts a strong community.
Indeed, as per birdeye.so, it already has nearly 100,000 holders.
Given all the excitement about Solana airdrops in recent months, SMOG could gain significant interest in the coming weeks.
SMOG could deliver at least 10x gains to investors, hence its rank in the best crypto meme coins to buy now.
Traders should note that they can clinch a 10% discount when buying SMOG directly through the project’s website.
They can also stake their tokens for a 42% APY.
The post Top Crypto Gainers Today on DEX Screener – LICK, SPACEX, PEPES appeared first on Cryptonews.