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DEXScreener Reveals Top Performing Cryptocurrencies Today – WALLETAI, BOBO, MEW
By Joel Frank
Updated: May 7, 2024, 20:38 EDT | Duration: 4 minutes
As the cryptocurrency market experiences a mostly bearish day, traders are turning to tools like DEXScreener to identify the top performing cryptocurrencies today in the on-chain markets. Despite the overall downturn, Render (RNDR), Kaspa (KAS), and Tron (TRX) have emerged as the top gainers, with each of these altcoins seeing gains of 1.5-5% in the past 24 hours. Meanwhile, Bitcoin (BTC) has dropped 1.2% to the low $62,000 range, facing resistance at its 50DMA. The Securities and Exchange Commission’s recent Wells Notice to Robinhood has brought regulatory uncertainty to the forefront, indicating that the outlook for Bitcoin may be one of consolidation in the coming months. Additionally, factors such as the lack of expected Federal Reserve rate cuts and the absence of a strong narrative for Bitcoin’s upward momentum contribute to the cryptocurrency’s current stagnation within the $56,000-$74,000 range.
While blue-chip cryptocurrencies may not generate much excitement in the months ahead, traders are exploring alternative options. The highly volatile and illiquid on-chain markets offer the potential for quick gains, and platforms like DEXScreener are instrumental in identifying the top performing cryptocurrencies today. However, it is crucial for investors to exercise caution, as a significant number of newly issued on-chain coins are scams, rug pulls, or pump-and-dumps.
In light of this, here are some of the top performing cryptocurrencies today on Ethereum, as reported by DEXScreener:
Top Crypto Gainers Today on DEXScreener
WALLETAI (WalletAI)
WALLETAI, a newly launched token that claims to be an AI wallet, has experienced a significant surge on its first day. According to DEXScreener, the token has seen a 21,500% increase and currently has a market cap of $1.6 million, with $230,000 in locked liquidity. However, traders should approach this token with caution, as there is no information available on its DEXScreener page, such as official Twitter or website links. Additionally, Go+ Security has identified three issues with its smart contract, including a 5% buy and sell tax. It is essential for investors to conduct thorough due diligence before investing in such tokens.
BOBO (BOBO)
BOBO, another recently launched token, has seen an 8,000% increase in value today, according to DEXScreener. The token currently has a market cap of $3.4 million, with $250,000 in unlocked liquidity. Similar to WALLETAI, BOBO does not provide any information on its DEXScreener page. Investors must take the time to research and familiarize themselves with the project before considering an investment. Go+ Security has identified only one smart contract issue with BOBO.
MEW (Mew on ETH)
MEW, a cat-themed meme coin on the Ethereum blockchain, has experienced a 3,000% increase in value within 24 hours, according to DEXScreener. Despite these impressive gains, the token’s market cap remains relatively small at just over $200,000, with $70,000 in locked liquidity. MEW appears to target cat enthusiasts in the crypto space who are seeking an alternative to dog meme coins. However, investors should not blindly trust this coin solely based on the information provided. It is crucial to exercise caution and never risk more than one can afford to lose in the on-chain markets.
A Better Alternative to Consider – WAI (Wiener AI)
For investors with a high-risk tolerance, the option of presale investing may be more suitable than investing in speculative coins. Presale investing involves buying tokens of upstart crypto projects before they gain traction. Although it carries its own risks, such as the potential failure of projects to deliver on promises or achieve adoption, identifying high-potential projects can lead to significant gains. Wiener AI (WAI), a new AI meme coin with a sausage dog theme, has attracted attention from analysts at Cryptonews. The token offers a suite of AI trading capabilities and has already raised over $1.2 million. Interested investors should act quickly, as the WAI price is set to increase in the next 8 hours. Currently priced at $0.000704, investors can purchase WAI with a market cap of around $45 million. If WAI becomes a market leader, investors could potentially see gains of 10x or more. Additionally, WAI offers passive income opportunities, with 20% of the supply allocated to staking rewards. Presale investors are currently earning a 1091% APY, allowing them to double their initial investment in less than a month.
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Disclaimer: Cryptocurrency is a high-risk asset class, and the information provided in this article is for informational purposes only and does not constitute investment advice. Investors should be aware of the potential loss of their capital.
