Top Crypto Gainers Today on DEXScreener – SLUMBO, NCAT, BABYWOLF
Joel Frank
Last updated: June 21, 2024 12:41 EDT | 2 min read
Best Crypto to Buy Now June 21 – Bitcoin, Fantom, Ethereum Name Services / Source: Cryptonews
As the more established cryptocurrencies struggle, with Bitcoin (BTC) falling to the mid-$63,000s as ETF outflows increase, miner sell pressure continues, and the German government looks to sell off its holdings, investors are turning their attention to the highly volatile and illiquid micro-cap markets in search of the top gainers in the crypto space today.
Bitcoin remains within its multi-month ranges, and the same can be said for most major altcoins. In these “boring” market conditions, traders who seek volatility often explore the micro-cap markets, which are always active.
The term “micro-cap markets” refers to the on-chain crypto markets, where tokens can be issued and traded without any restrictions. New coins are launched daily on blockchains like Ethereum and Solana. However, the majority of these coins are scams or pump-and-dumps, lacking any long-term value.
Nevertheless, if these tokens start to gain traction, they can sometimes experience significant gains of 100 or even 1,000 times their initial value. On the other hand, they can also become worthless in an instant, especially in the event of a rug-pull.
With that being said, let’s take a look at some of the top gainers in the crypto market today, as identified by DEXScreener.
Top Crypto Gainers Today
Slumbo (SLUMBO)
According to DEXScreener, Slumbo (SLUMBO), a Solana-based meme coin that was just launched, has seen an increase of over 69,000% today. The token currently has a market cap of around $2.7 million, with locked liquidity of approximately $130,000. It is worth noting that due to its small market cap, there is still room for potential growth. However, like most newly launched meme coins, SLUMBO is likely to be another pump-and-dump scheme.
Baby Landwolf (BABYWOLF)
Another meme coin called Baby Wolf (BABYWOLF), which is based on the Base protocol, has experienced a surge of 4,600%, as reported by DEXScreener. However, the token has dropped over 50% from its session highs, and its market cap is currently only $85,000. While it is uncertain whether this meme coin will gain traction, its low market cap presents an opportunity for significant gains if it does.
As always, investors should conduct thorough research before getting involved in micro-cap meme coin markets.
NCAT (NCAT)
NCAT (NCAT), a new meme coin based on Solana, has seen a 4,600% increase since its launch, with a market cap of approximately $17 million, making it one of the top gainers in the crypto market today, according to DEXScreener. However, its liquidity is reported to be only $90,000, which is relatively low for a meme coin with a $17 million market cap. This suggests that even a small amount of sell pressure on DEX could result in a significant price decline. It is worth noting that NCAT only has a Telegram link, which raises some concerns, and its community vote score on DEXScreener further indicates a lack of trust in the token. These factors suggest that this coin is likely a scam.
Crypto Alternatives to Consider
Instead of investing in questionable micro-cap meme coins, investors should consider participating in meme coin presales. The analysts at Cryptonews.com closely monitor the presale market and have compiled a list of meme coin presales that they believe have significant potential.
15 Best Meme Coins to Buy in June 2024
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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.
