Article Title: Hot Crypto Winners Today on DEXScreener – EGOD, SMERF, HARAMBE
Joel Frank
Updated:
May 24, 2024 19:25 EDT
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Reading Time: 2 minutes
Today’s top crypto gainers are making waves on DEXScreener as major cryptocurrencies struggle to break free from recent ranges. Traders are now turning their attention to on-chain markets in search of the best performing cryptocurrencies today.
Bitcoin (BTC) is currently trading just below $69,000, showing a 4% increase for the week. Ethereum (ETH), on the other hand, is changing hands in the $3,700s, experiencing a significant 21% increase for the week. However, both cryptocurrencies are currently trading 4-5% below their previous weekly highs.
Although the recent approval of Ethereum ETFs has been a positive catalyst, overall market momentum has been hindered by macro headwinds. As a result, traders are exploring alternative assets in search of volatility.
The on-chain markets, particularly decentralized exchanges (DEX), have become the ideal platform for traders to quickly make gains or losses. Here are the top-performing cryptocurrencies today on DEXScreener:
EGOD (EGOD)
A new meme coin, EGOD (EGOD), has emerged to pay tribute to the late Kabosu, the Shiba Inu dog that inspired the creation of Dogecoin. Since its launch, EGOD has seen a staggering 15,900% increase in value, with a market cap of approximately $1.1 million and $200,000 in liquidity.
Degen Smerf (SMERF)
Another notable cryptocurrency is Degen Smerf (SMERF), which has experienced a remarkable 7,800% increase since its launch. The market cap for SMERF currently stands at around $300,000, with $70,000 in locked liquidity. However, it is important to note that despite passing a Go+ Security audit, the token still has one issue in its smart contract, raising concerns about its legitimacy.
Harambe (HARAMBE)
In response to Elon Musk’s tweet commemorating Kabosu’s death, a new meme coin called Harambe has emerged. Harambe has shown a significant increase of 10,400%, with a market cap of $1 million and $176,000 in locked liquidity. However, there are two concerning issues with its smart contract that raise caution among traders.
Considering the high risks involved in investing in newly launched meme coins, it is crucial for traders to exercise caution and conduct thorough due diligence. While some of these coins may offer substantial returns, the majority are likely to disappoint investors who struggle to find liquidity for selling.
Instead, traders may find better alternatives by investing in presales. This allows for more time to research a project and determine its suitability. By identifying projects that gain traction, traders have the potential to earn significant profits.
For the top presales to consider in 2024, Cryptonews analysts closely monitor the market. However, it is important to note that investing in crypto is a high-risk endeavor, and this article is provided for informational purposes only and should not be considered investment advice. There is a possibility of losing all invested capital.