Article Title: Exciting Crypto Winners Today on DEXScreener – EGOD, SMERF, HARAMBE
Author: Joel Frank
Date: May 24, 2024
Duration: 2 minutes
(Source: Cryptonews)
Image Caption: Top Crypto Gainers Today on DEXScreener – EGOD, SMERF, HARAMBE
As major cryptocurrencies remain trapped within recent ranges, with traders analyzing the approval of the Ethereum ETF and the release of unexpectedly strong US economic data this week, investors are now turning to on-chain markets in search of the most profitable cryptocurrencies of the day.
Bitcoin (BTC) is currently trading just below $69,000, experiencing a 4% increase this week. Meanwhile, Ethereum (ETH) is being exchanged in the $3,700 range, with a growth of over 21% this week. However, both cryptocurrencies are currently trading 4-5% below their previous weekly highs. The approval of the Ethereum ETF has acted as a significant bullish catalyst, but macroeconomic headwinds have hindered the market’s momentum.
As the established cryptocurrencies face difficulties, traders are exploring alternative assets in search of volatility. The on-chain markets are the ideal platform for making quick profits or losses.
Below are the top-performing cryptocurrencies on Ethereum decentralized exchanges (DEX) today, according to DEXScreener.
Top Crypto Gainers Today:
EGOD (EGOD)
A new meme coin paying tribute to the late Kabosu, the Shiba Inu dog that inspired the creation of Dogecoin, has emerged on Friday and is performing exceptionally well. The token has seen a staggering 15,900% increase since its launch, as reported by DEXScreener. Its market capitalization is currently around $1.1 million, with $200,000 in liquidity.
Degen Smerf (SMERF)
Another newly introduced coin, called Degen Smerf (SMERF), has experienced a remarkable 7,800% increase since its launch, as per DEXScreener. Its market capitalization is currently around $300,000, with $70,000 in locked liquidity. It is important to note that this token has only one issue in its smart contract, according to a Go+ Security audit, which does not necessarily mean it is not a scam. Traders must exercise caution and conduct thorough research before getting involved.
Harambe (HARAMBE)
Elon Musk’s tweet commemorating the death of Kabosu, stating that he is in heaven with Harambe, has led to the creation of a new meme coin named Harambe. It has seen an impressive increase of 10,400%, as reported by DEXScreener, with a market capitalization of $1 million. The token has $176,000 in locked liquidity and two concerning issues with its smart contract.
A Better Alternative to Consider
Investing in newly launched meme coins comes with high risks. While some of these coins may experience significant growth, the majority are likely to fail, leaving investors unable to find liquidity for selling. The rapid price movements often trigger FOMO (Fear of Missing Out) among traders, causing them to neglect necessary due diligence.
A potentially better alternative to investing in just-launched meme coins is to consider presales. This allows traders more time to research a project and determine if it aligns with their investment strategy. Identifying projects that gain traction reliably can lead to substantial profits.
The analysts at Cryptonews closely monitor the presale market. Here are some of their top presales for 2024.
22 Best Crypto Presales to Invest In Now
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a potential risk of losing all invested capital.
