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**Top Performing Cryptocurrencies Today on DEXScreener – SOLGUN, MAD, USPEPE**
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By Joel Frank
Last updated: July 4, 2024, 11:48 EDT
2 min read
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Today’s top cryptocurrency performers on DEXScreener include SOLGUN, MAD, and USPEPE, according to Cryptonews.
As major cryptocurrencies face significant price declines on Thursday, driven by sell-offs in the Bitcoin (BTC) spot markets amid further selling from the German government and concerns over Mt Gox repayments, traders seeking high returns are turning to the volatile and less liquid on-chain markets.
Bitcoin has dropped below its 200-day moving average to its lowest level since early May, hovering in the $56,000 range. Ethereum is also under pressure, with expectations of revisiting the $3,000 mark following delays in new Ethereum ETF approvals. Most other major coins are seeing substantial declines, as reported by CoinMarketCap.
In bearish market conditions, traders are increasingly venturing into riskier assets in pursuit of profit. Often, the biggest gainers in the cryptocurrency space are found in the on-chain markets, where new coins are introduced daily. However, many of these are associated with scams or pump-and-dump schemes. Yet, some manage to achieve massive gains, scaling from initial market caps in the hundreds of thousands to hundreds of millions.
For many traders, the allure of transforming a modest investment into substantial wealth is a powerful draw of the on-chain markets. These traders frequently utilize tools like DEXScreener to identify trending coins.
Here are the top cryptocurrency performers today on DEXScreener:
**Top Cryptocurrency Gainers Today on DEXScreener**
**SolGun Sniper (SOLGUN)**
A newly launched “shitcoin” on the Solana blockchain, SolGun Sniper (SOLGUN), has surged by approximately 640,000%, according to DEXScreener. Its current market cap stands around $5.9 million, with liquidity very thin at $136,000. SolGun Sniper operates as an automated trading bot on Solana, boasting a substantial user base, per its X account. However, caution is advised, as seemingly innocent coins can easily turn out to be scams in the volatile on-chain markets, potentially resulting in total loss of invested capital.
**Mad (MAD)**
Another Solana-based “shitcoin,” Mad (MAD), has seen remarkable growth in its second day of existence, surging by 390,000% in the past 24 hours as per DEXScreener. It currently holds a market cap just over $8 million and has garnered a considerable following, with over 20,000 followers on X and nearly 14,000 on Telegram. Nevertheless, discerning what is genuine in the cryptocurrency realm is challenging, as metrics like follower counts, trading volumes, and market caps can be artificially inflated to lure unsuspecting investors into scams. Traders must exercise utmost caution when navigating on-chain markets.
**American Pepe (USPEPE)**
An emerging copycat of the popular Pepe meme, American Pepe (USPEPE), has shown a significant increase of over 63,000% in the past 24 hours according to DEXScreener, with a market cap of $2.9 million and trading volumes of $6.9 million. Despite its smart contract being assessed positively by Go+ Security, and its growing presence in the community, potential investors must conduct thorough due diligence. Investments in cryptocurrencies, particularly in micro-cap meme coins, carry substantial risks.
**Consider Crypto Alternatives**
Rather than focusing on speculative micro-cap meme coins, investors may explore opportunities in meme coin presales. Cryptonews.com analysts closely monitor this sector and have compiled a list of promising meme coin presales for June 2024.
**15 Best Meme Coins to Buy in June 2024**
**Follow Us on Google News**
Disclaimer: Cryptocurrency investments are high-risk endeavors. This article serves informational purposes and does not constitute financial advice. Investors should be prepared to lose all invested capital.
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This version retains the essence and factual details of the original article while presenting the information in a fresh, fluent manner without grammatical errors.