Current Trends in DEX Markets
As major cryptocurrencies linger near their weekly lows, traders are focusing on on-chain decentralized exchanges (DEXs) in search of top crypto gainers. Despite the broader market’s subdued performance, DEXs often feature the day’s leading gainers due to their illiquid nature.
Why DEXs Stand Out
Cryptos traded on DEXs, particularly on blockchains like Ethereum and Solana, frequently experience significant price swings. This volatility is due to their low liquidity, meaning even minor buy or sell pressures can result in substantial price movements. The allure of massive gains—sometimes exceeding 100x—draws traders to these markets. However, it’s crucial to remember that such high returns are rare, and traders often face extreme volatility or potential scams.
Top Crypto Gainers Today
MakeFrens (MF)
MakeFrens (MF) is leading today’s top crypto gainers list. According to DEXScreener, MF surged over 85,000% in the last 24 hours, with a market cap of $4.9 million. Launched recently on Ethereum, it has garnered $800,000 in trading volumes. Despite this, its liquidity stands at only $440,000, less than 10% of its market cap. The token also imposes a 5% buy-and-sell tax, and small sell pressures could lead to a major reversal.
Screaming Rubber Chicken (SRC)
Screaming Rubber Chicken (SRC) is another notable gainer. This Solana-based meme coin has risen nearly 2,000% in the past 24 hours, with its market cap at $1.2 million and trading volumes at $2.2 million. DEXScreener’s security audit indicates no major issues with its smart contract. SRC has also received strong support from the trading community, as evidenced by 427 rocket ship emoji upvotes versus 41 red flag votes.
$OCCER Token
The $OCCER token has increased by 1,277% according to DEXScreener, with its market cap surpassing $800,000. However, it has a liquidity of just $80,000, highlighting the risks associated with trading such tokens.
Alternative to Top Crypto Gainers Today
For those wary of the high risks associated with today’s top crypto gainers, considering presale investments might be a prudent alternative. Cryptonews.com’s presale analyst, Chester, highlights three promising presale projects in the video below. Additionally, you can explore our curated list of the 20 best presales currently available.
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