Top Crypto Gainers Today on DEXScreener – KING, SWAPUZ, MOJO
By Joel Frank
Updated on:
May 29, 2024 00:30 EDT
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Read time: 2 min
Top Crypto Gainers Today on DEXScreener – KING, SWAPUZ, MOJO / Source: Cryptonews
Cryptocurrency markets have had a quiet start to the week, with major coins trading within recent ranges. However, traders seeking top crypto gainers today have turned their attention to the more volatile and unpredictable on-chain altcoin markets.
Bitcoin (BTC) is currently trading in the $68,000s, having dipped from above $70,000 due to concerns over movements in the Mt Gox wallet.
Ethereum (ETH), on the other hand, is trading in the $3,800s. Traders are eagerly awaiting the launch of recently approved Ethereum ETFs.
Later in the week, core PCE inflation data could potentially shake up the market. It is expected to show a decline in month-on-month core price pressures from 0.3% in March to 0.2% in April. This would be a relief to the market and increase confidence in the possibility of Fed rate cuts later in the year.
The political and regulatory landscape is also favoring the market. US Presidential candidate Donald Trump recently expressed pro-crypto views, and the SEC’s approval of Ethereum ETFs indicates a weakening anti-crypto sentiment in the US.
Major cryptocurrencies could soon test their recent highs. However, traders looking for faster gains are drawn to the risky on-chain markets.
New meme coins and shitcoins are launched daily, offering the potential for quick gains of 10x or more. However, traders must be cautious as the majority of these newly launched coins are scams or pump-and-dump tokens. Thorough research is essential, and traders should never risk more than they can afford to lose.
That being said, here are today’s top crypto gainers according to DEX analytics tool DEXScreener.
Top Crypto Gainers Today
King of Memes (KING)
A newly launched Solana meme coin called King of Memes (KING) has seen an increase of nearly 750% in the past 24 hours. The token currently has a market cap of $642 million. However, there are suspicious details surrounding this token, such as its low locked liquidity of $670,000 and trading volume of only $2.4 million since its launch. The community’s lack of trust is evident through the 12 red flag votes compared to the one rocket and fire emoji votes. The meme coin’s X account has also been restricted, indicating a high likelihood of it being a scam.
Swapuz (SWAPUZ)
Another questionable coin, Swapuz (SWAPUZ), has achieved a massive market cap shortly after its launch. As per DEXScreener, SWAPUZ’s market cap is currently around $420 million, with the token experiencing a growth of 640,000% since its launch. However, similar to KING, this growth has occurred despite relatively low trading volumes of $4.8 million. The coin’s X account has also had no notable activity since last year. Given the suspicious circumstances, traders are advised to steer clear of this coin.
MOJO The Gorilla (MOJO)
A recently launched Ethereum meme coin known as MOJO The Gorilla (MOJO) has surged by nearly 80,000% since its launch. This increase has taken its market cap to $3.1 million, with $250,000 in locked liquidity. However, Go+ Security has identified two concerning aspects of the token’s contract. Despite appearing less scammy than the previous two coins, traders should still be cautious as most newly launched tokens are pump-and-dump schemes.
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