Top Crypto Gainers Today on DEXScreener – PEIPEI, MAGAA, eef

Top Crypto Gainers Today on DEXScreener – PE, PEPE, BENCH / Source: Cryptonews

On a day when blue-chip cryptos were in an upbeat mood on fresh evidence of a softening US labor market, micro-cap altcoins trading on decentralized exchanges took to limelight as the top crypto gainers today.

Bitcoin (BTC) rose 2.5% in the past 24 hours to challenge $71,000. Meanwhile, BNB was up 11%, Solana (SOL) was up 4% and Toncoin (TON) was up 13%.

The US JOLTs Job Openings report for April saw job openings decline to 8.06 million from 8.49 million in March.

That was the lowest reading since June 2021, and bigger than the expected drop to 8.35 million.

It also marked a continuation of the cooling off of demand for labor seen since 2022. Job openings peaked above 11.5 million in May 2022.

The latest data helped bolster confidence that the Fed will be cutting interest rates by September.

As per a CME’s tool , the market-implied odds of at least one rate cut by September was last over 65%. That’s up from under 60% one day go, under 45% one week ago and around 33% one month ago.

Rate-cut bets thus explain the market’s upbeat mode. And this optimism was also felt in the market for microcap cryptos trading on-chain.

Traders hunting quick exponential gains often turn to the on-chain markets as they hunt new high-potential meme coins/cryptos.

Newly launched tokens often post quick 50-100x gains. Of course, most end up being pump-and-dumps, or rug-pull scams of some sort.

So traders need to be exceedingly careful when stepping into on-chain markets. Here are some top crypto gainers today on Ethereum that they will be watching.

Top Crypto Gainers Today

PeiPei (PEIPEI)

Another Pepe Coin spin-off, this one called PeiPei (PEIPEI) is pumping hard on Wednesday.

https://twitter.com/peipeicoinerc/status/1798091265344430158

It was last up 130,000% in 24 hours, ranking it as the hottest coin on DEXScreener .

It has already been able to achieve a market cap of $7.6 million, with other $450,000 in locked liquidity.

The token only has one concerning aspect to its smart contract, as per Go+ Security, it’s probably just another pump-and-dump. Traders should thus tread very carefully.

MAGAA (MAGAA)

A new Donald Trump-themed meme coin called MAGAA (MAGAA), which stands for Make America Great Again, Again, is pumping.

Up 27,500% in 24 hours as per DEXScreener , MAGAA last had a market cap of $14.5 million.

The token has seen an impressive $5.7 million in 24-hour trading volumes and has $1.3 million in locked liquidity.

But traders should be very careful, as token transfers are pausable, according to Go+ Security. The token could easily be a scam.

eef (eef)

A shitcoin called eef (eef) has jumped up 7,300% since its launch, as per DEXScreener .

Its market cap was last around $2.5 million, with over $18.2 million in 24-hour trading volumes.

While the token has no issues with its smart contract, as per Go+ Security and Quick Intel, that doesn’t mean it’s safe.

Traders must always do their due diligence before investing in a newly launched coin. And they should never risk more than they can afford to lose.

Crypto Alternatives to Consider

Altcoins are a great way to make quick gains in crypto. Most of the above-mentioned coins are already too well-established to provide traders with gains of upwards of 10x, however.

For those bigger gains, traders will need to get in super early on newer coins.

For risk-tolerant investors looking to add upside exposure to their portfolios, presale investing is potentially a good strategy.

Web3 startups often sell their token at an early discount in presales to fund development and build hype.

With so many presales on the market, it can be tough to know where to start. Here are some of Cryptonews’ top picks.

15 Best Crypto Presales to Invest In Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.