Top Crypto Gains Today – According to DEXScreener

Last Updated: May 29, 2024 12:30am EDT | 2 minute read

Top Crypto Gains Today on DEXScreener – KING, SWAPUZ, MOJO / Source: Cryptonews

It’s been a quiet start to the week for cryptocurrency markets, with most major coins stuck within recent ranges, albeit certainly close to multi-week highs, and with traders chasing the best today cryptocurrency gains instead of turning to the more volatile and unpredictable on-chain altcoin. markets.

Bitcoin (BTC) it last traded at $68,000, having fallen from above $70,000 on nervousness in Mt Gox’s portfolio movements.

Ethereum (ETH), meanwhile, was last at $3,800. Traders continue to await word on when the recently approved Ethereum ETFs will actually launch.

Core PCE inflation data released later in the week could shake things up in the market.

Data is expected to show that month-on-month core price pressures fell to 0.2% in April from 0.3% in March.

This would be a relief for the market and boost confidence Fed rate cuts they will arrive by the end of the year.

The policy and regulatory landscape is also a boon to the market at this time.

Candidate for the presidency of the United States Last week, Donald Trump made further comments in favor of cryptocurrencies.

And the SEC’s recent U-turn in approving Ethereum ETFs indicates that the anti-crypto movement in the US is losing power.

Major cryptocurrencies could soon repeat recent highs. But traders looking for faster profits will be attracted to risky on-chain markets.

New meme coins AND shitty coins they launch every single day. If traders can get in early on a coin that ends up gaining traction, they can make quick gains of 10x or more.

Of course, traders must remember that the vast majority of these newly launched coins are scams or pump-and-dump tokens.

Almost none retain any long-term value. Traders must do their research and never risk more than they can afford to lose.

With that said, here are some of the top cryptocurrency gains today according to the DEX analysis tool DEXScreener.

Top cryptocurrency gains today

King of memes (RE)

A newly launched Solana meme coin called King of Memes (KING) has surged nearly 750% in the past 24 hours.

DEXScreener states that the token has already managed to reach a market capitalization of $642 million.

But something seems very fishy with this token. It only has $670,000 in cash tied up.

And it has only recorded $2.4 million in trading volume since its launch.

The DEXScreener user community also seems to not trust the coin.

It has only one rocket and fire emoji vote, but 12 red flag votes, suggesting trust is low.

The meme coin X account it was also limited.

It is very likely that this token is a scam. Traders should probably stay away.

Swapuz (SWAPUZ)

Another suspicious-looking coin called Swapuz (SWAPUZ) was also able to reach a huge market capitalization shortly after launch.

SWAPUZ’s market capitalization was about $420 million, according to DEXScreenerwith the token up 640,000% since launch.

But as with KING, this rally was achieved despite relatively low trading volumes of $4.8 million.

That of the coin X account it also hasn’t seen any notable activity since last year.

Things don’t seem right. Traders would do their best to stay away.

MOJO The Gorilla (MOJO)

A recently launched Ethereum meme coin called MOJO The Gorilla (MOJO) has grown nearly 80,000% since launch.

https://twitter.com/Ethereum_Mojo/status/1795594443124531234

As per DEXScreenerwhich brought its market capitalization to $3.1 million, with $250,000 in cash tied up.

Go+ Security identifies two concerning aspects of the token contract.

Just because this meme coin seems less scammy than the first two on this list doesn’t mean it’s risk-free.

Traders should always remember that most newly launched tokens are pump-and-dump schemes.

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