Top Crypto Winners Today on DEXScreener – Moonwalk, FIRST, PEPER
Joel Frank
Last updated: June 25, 2024, 11:25 EDT | 3 min read
Bitcoin (BTC) is gaining momentum on Tuesday, surpassing $61,000 after briefly dropping to the mid-$58,000s on Monday due to concerns about sell pressure related to Mt Gox. Traders are now searching for the top crypto winners today that can potentially provide them with quick profits.
Mt Gox, a bankrupt crypto exchange, will begin repaying around 140,000 BTC to its creditors next month. This news caused a 4.6% decrease in the price of Bitcoin on Monday, as investors anticipated that creditors would sell their holdings. However, some analysts disagree with this idea, suggesting that creditors have a decade to cash in on their holdings, making them more likely to be long-term holders and less inclined to sell.
Bitcoin also came close to reaching its 200DMA, a significant moving average that typically acts as a strong support level during bull markets.
Meanwhile, altcoin markets showed mixed performance on Tuesday. ETH recorded gains of approximately 1.25% in the past 24 hours, according to CoinMarketCap. On the other hand, Solana (SOL), XRP (XRP), Dogecoin (DOGE), and Cardano (ADA) experienced declines of 1-3% during the same time period.
As major cryptocurrencies struggle near recent lows, traders seeking quick profits are turning to more volatile coins. Many of them are utilizing tools like DEXScreener to scan the on-chain markets for the top crypto winners today. Here are some of the standout performers they are closely monitoring.
Top Crypto Winners Today
Moonwalk (MOONWALK)
A new meme coin inspired by Michael Jackson called Moonwalk (MOONWALK) has had an explosive start. Based on SOL, MOONWALK has already achieved a market cap of $5.7 million since its recent launch. DEXScreener reports its trading volume at $1.2 million. However, MOONWALK, which has surged over 62,000% since its launch, only has $42,000 in liquidity. This means that even a small amount of selling pressure could potentially crash the token to zero. Investors should be cautious as many newly launched meme coins are often scams or pump-and-dumps, resulting in the loss of initial investments.
First (FIRST)
Source: DEXScreener / FIRSTUSD
First (FIRST), a joke Solana coin, has seen a growth of over 68,000% on Tuesday, maintaining strong momentum since its launch on Monday. The token claims to be a “test token” and humorously advises investors not to buy it. Despite this, it has achieved a market cap of $4.3 million and $11 million in 24-hour trading volumes. DEXScreener reports that the token only has $130,000 in locked liquidity. Similar to Moonwalk, this means that relatively limited selling pressure could result in a significant price crash for FIRST. Investors should exercise caution when considering this investment.
Baby Pepe (PEPER)
Source: DEXScreener / PEPERUSD
Baby Pepe (PEPER), a baby version of Pepe, is currently gaining popularity. Since its launch, the token has surged nearly 50,000% and now has a market cap of $4.5 million. It has also recorded impressive trading volumes of $10.4 million. However, it is important to note that these volumes may have been artificially inflated to boost the token’s appeal. In fact, some users have raised concerns about fake followers, volume, and comments associated with the token. Investors should proceed with caution and be aware of the potential risks involved.
A Better Alternative to Risky Coins – Crypto Presales
While some of these coins may have the potential to increase in value significantly, the majority are likely to underperform, making it difficult for investors to find liquidity to sell. A potentially better alternative to investing in newly launched meme coins is to participate in presales. With presales, traders have more time to research projects and determine if they are a good fit for their investment strategy. If traders can identify projects that gain traction, they could potentially make substantial profits. Cryptonews analysts closely monitor the presale market and have identified some of the top presales for 2024.
14 Best Crypto Presales to Invest In Now
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your capital.
