Crypto Bulls Continue to Dominate
The crypto market is currently experiencing a bullish trend, with Bitcoin (BTC) reaching new record highs above $73,000 and Ether (ETH) hovering around $4,000. While established cryptocurrencies offer strong growth potential, traders looking for even higher gains are turning to the on-chain shitcoin markets, despite their volatility and illiquidity.
Launching a token on blockchains like Ethereum, BNB, or Solana is relatively easy, resulting in a constant influx of new coins that are traded on decentralized exchanges (DEXs). While most of these coins turn out to be scams or pump and dumps, some have the potential to reach market caps in the hundreds of millions.
π Top Crypto Gainers Today on Ethereum
πΈ BullFrogInu ($BULLFROG)
BullFrogInu ($BULLFROG), a recently launched shitcoin, has seen a staggering 28,200% increase in just 24 hours, pushing its market cap to $2.35 million. However, it has fewer than 50 holders and a trading volume of only $65,000, raising suspicions about its legitimacy. DEXTools’ smart contract audit even suggests that it could be a honeypot scam.
π€ Animax AI ($ANAI)
Animax AI ($ANAI), another recently launched shitcoin focused on artificial intelligence (AI), has surged by 1,000% in one day. Its market cap now stands at just over $1 million, with 125 holders. While the token has $270,000 in locked liquidity to reduce the risk of rug pulls, DEXTools’ smart contract audit indicates that it might still be a scam.
β‘οΈ Pulse ($PULSE)
Pulse AI ($PULSE), a newly launched shitcoin, has experienced a massive 5,270% pump within 24 hours, bringing its market cap to over $500,000. With $120,000 in liquidity and nearly 300 holders, the token imposes a 5% buy and sell tax and has triggered two smart contract alerts. Potential investors are advised to exercise caution and conduct thorough due diligence before investing.
π‘ Alternatives to Consider – Smog (SMOG)
While shitcoins are highly risky, there are more established meme coins that offer potential gains without the extreme volatility associated with on-chain shitcoin markets. One such coin is Smog (SMOG), a dragon-themed token launched on the Solana blockchain.
Since late February, Smog’s price has surged nearly sixfold, resulting in a market cap of $170 million. The token positions itself as offering Solana’s greatest airdrop of all time. Traders can qualify for the airdrop by purchasing and holding SMOG on Solana or staking the token on Ethereum.
Despite its modest market cap, SMOG already boasts a strong community with nearly 100,000 holders. As Solana airdrops have garnered significant attention recently, SMOG could attract increased interest in the coming weeks and potentially deliver at least 10x gains to investors.
π₯ Hot Take: Choose Wisely and Conduct Due Diligence
While the on-chain shitcoin markets may offer the allure of astronomical gains, they also come with significant risks. Most of these coins turn out to be scams or pump and dumps. Therefore, it is crucial for traders to exercise caution and thoroughly research any investment opportunities in the crypto market.
Consider diversifying your portfolio by including more established meme coins like Smog (SMOG), which have the potential for significant growth without the extreme volatility associated with shitcoins.
Remember to always do your due diligence and carefully evaluate the legitimacy and potential of any cryptocurrency before investing your hard-earned money.
Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension. Guiding both seasoned navigators and curious newcomers, Wyatt’s insights serve as a compass for astute decision-making amidst the ever-shifting currents of cryptocurrencies. With the artistry of a linguistic craftsman, they skillfully craft narratives that enrich the evolving tableau of the crypto landscape.
