Key Points:
- Major cryptocurrencies like Bitcoin and Ether are trading with a modestly positive bias, but remain within recent ranges.
- Volatility levels are at historic lows as the market awaits clarity on US regulation and spot Bitcoin ETF approvals.
- Illiquid meme coin markets continue to be volatile.
- Shitcoin called SPURDO has seen a stunning 2,000x increase in price since its launch.
- FOOM and FRENS are other shitcoins that have experienced significant gains.
- Investing in crypto presales is an alternative high-risk-high-reward strategy for those seeking near-term gains.
Crypto Market Update: Modestly Positive Bias
In the last 24 hours, major cryptocurrencies like Bitcoin and Ether have shown a modestly positive bias, with Bitcoin up close to 1% and Ether slightly in the green. However, both remain stuck within recent price ranges. Volatility levels continue to be at historic lows, as the market eagerly awaits more clarity on themes such as US regulation and spot Bitcoin ETF approvals. While the broader market remains quiet, illiquid meme coin/shitcoin markets remain volatile as usual.
Shitcoin Performers: SPURDO, FOOM, and FRENS
Among the best performers in the shitcoin market, SPURDO has experienced a stunning 2,000x increase in price since its launch on Sunday. With a market cap of around $3.75 million and over $3 million in trading volumes in the past 24 hours, SPURDO has attracted over 1,150 holders. FOOM, another shitcoin, has seen a 300% increase in price on Monday, reaching around $0.000000078. Its liquidity is over $4 million, but not locked. Farmer Friends (FRENS) has also been pumping in the last few hours, with a market cap of around $1.5 million and locked liquidity of around $220,000. However, concerns have been identified regarding the token’s contract, so caution is advised.
Consider Crypto Presales for High-Risk-High-Reward Investments
Shitcoins are highly risky investments with little value proposition. For those seeking better probabilities of near-term gains, participating in crypto presales can be an alternative high-risk-high-reward investment strategy. In presales, investors buy tokens of up-start crypto projects to fund their development. These tokens are usually sold cheaply, and there is a history of presales delivering exponential gains to early investors. It is important to identify projects with strong teams and a revolutionary crypto application/platform. To help with this, here is a list of 15 of the best crypto presales of 2023.
Hot Take
While major cryptocurrencies are showing a modestly positive bias, the market’s overall volatility remains low. However, the shitcoin market continues to be volatile, with SPURDO, FOOM, and FRENS gaining significant traction. Investing in crypto presales may offer better probabilities of near-term gains, but it is crucial to carefully evaluate projects for their potential and risks.
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