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The crypto market, including Bitcoin (BTC) and Ether (ETH), remains largely unchanged after US Producer Price Index inflation data for July. The market’s total capitalization is at $1.136 trillion, with blue chip cryptos trading within the same ranges for the past two months. Traders are keeping an eye on updates regarding Bitcoin ETF applications and US regulations. With improving inflation and optimism for Bitcoin ETF approvals, the risks seem tilted to the upside. However, traders looking for quicker profits are turning to the volatile meme coin market, which comes with high risks and low liquidity.
1. StrongX (STRONGX): A new shitcoin that has seen an 850% increase in the last 24 hours. It has a market cap of $880 million and over $2.7 million in trading volumes. The token has over 500 holders and locked liquidity, reducing the risk of a rug pull.
2. Messier 87 (M87): A token claiming to be the native token of a DeFi platform. It has surged nearly 5x in the last 24 hours, with a market cap of $4.2 million and locked liquidity. However, DEXTool’s GoPlus audit scan has identified 6 alerts, indicating potential risks.
3. 0x1 (0x1): The token powering AI smart contract generation platform 0x1.tools. It has seen a 200% increase in the last 24 hours and has the potential to retest its all-time highs. The token has a liquidity lock but large transaction taxes.
Better Alternatives to Consider:
– Wall Street Memes (WSM): The online retail stock investing community has launched its own meme coin, generating a lot of hype and raising over $23.1 million.
– XRP20: An improved version of XRP that runs on the Ethereum blockchain. It has raised $2.04 million and offers a passive income opportunity for staking.
Hot Take:
While the mentioned coins have performed well in the last 24 hours, they may not hold much value in the long run. It’s important to exercise caution and consider alternative options such as Wall Street Memes and XRP20, which have gained significant traction and support from experts and influencers.
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