Top Crypto Gainers Today on DEXScreener – SHIN, SPIKE, PEAR

Top Crypto Gainers Today on DEXScreener – SHIN, SPIKE, PEAR / Source: Cryptonews

As the price of Bitcoin (BTC) pushed back towards its highest since mid-May on a combination of macro tailwinds and strengthening demand for spot Bitcoin ETFs from US investors, investors hunting for top crypto gainers today are diving into the highly illiquid and volatile on-chain markets.

Bitcoin pushed as high as $71,700 earlier on Wednesday as May ADP National Employment data missed expectations .

That comes after softer-than-expected job opening data released on Tuesday. Combined, these data points suggest that Friday’s official jobs report shouldn’t come in too hot.

That’s all contributing to optimism that Fed rate cuts are coming in September, despite still strong service sector activity.

Rate cut bets pushed US 10-year yields to their lowest levels in over a month below 4.30% on Tuesday.

And that is lifting sentiment in the US equity and crypto markets, hence the Bitcoin rally.

Spot Bitcoin ETFs saw their second strongest day of inflows on Tuesday since launching, by the way.

And further upside in BTC suggests inflows have continued on Wednesday. Bitcoin ETFs have attracted inflows of over $2.4 billion in the past month, Bloomberg analyst Eric Balchunas reported on X.

As rate cuts near, as institutional demand swells and as political support for crypto in the US rises and the SEC softens its anti-crypto bias (hence its recent approval of spot Ethereum ETFs), Bitcoin is likely to trade with an upside bias in the near future.

A test of $100,000 this year or next remains very likely. That means Bitcoin is definitely a candidate for best crypto to buy, especially for beginners .

Traders Use Tools Like DEXScreener To Find Top Crypto Gainers Today

However, some high-risk tolerance crypto traders are looking for more than 40% in near-term upside.

Smaller and lesser-known altcoins may be able to deliver investors 5-10x gains.

But those hunting 50x or more gains will need to venture into the treacherous on-chain markets.

On-chain markets refer to the market for crypto tokens issued and traded directly on the blockchain.

Dozens of new coins pop up on-chain every single day. Most are scams or pump-and-dumps.

The key to making 100x gains is to get in on a coin before it catches the zeitgeist and pumps.

Of course, that’s easier said than done. Traders use tools like DEXScreener as they hunt top crypto gainers today.

Here are some big movers that they will be watching on Wednesday.

Shina Inu (SHIN)

A China-themed version of Shiba Inu called Shina Inu (SHIN) is pumping hard on Wednesday.

https://twitter.com/ShinTokenETH/status/1798456311535055153

SHIN was las up 87,000% in 24 hours as per DEXScreener , its market cap is around $5.4 million.

The token only has one issue with its smart contract, as per Go+ Security. That said, traders must always be very careful with newly launched coins.

Spike (SPIKE)

A new shitcoin called Spike (SPIKE) is up 39,700% on Wednesday, as per DEXScreener , its market cap is around $2.1 million.

SPIKE is allegedly based on Pepe cartoon creator Matt Furie’s first cartoon image. Which is why they gifted him 1% of the SPIKE supply.

https://twitter.com/SPIKE0x1984/status/1798385171483554161

That’s a pretty savvy marketing move, which has helped the token reach a market cap of $2.1 million.

As a reminder, traders should remember that almost no newly launched coins go on to hold long-term value.

Pear (PEAR)

A Pear-shaped version of Pepe called Pear (PEAR) is up close to 32,000% on Wednesday, its market cap around $580,000.

PEAR last had liquidity of around $90,000, and refers to itself as the most memeable fruit on Solana.

https://twitter.com/pear_solana/status/1798437149215543696

Alternatives to Consider – Crypto Presales

Investing in the on-chain markets is fraught with risk.

An alternative often overlooked but frequently profitable crypto investment strategy is investing in presales .

Up-and-coming web3 projects often conduct ICOs in order to raise funds for project development.

To attract early interest/investors to their project, they usually sell these tokens at a very low market cap.

That offers presale investors the chance to make big gains.

With so many projects vying for investor funds, it can be tough to know where to start.

Luckily, analysts at Cryptonews.com spend a lot of time combing through the altcoin market in search of high-potential projects.

Here are some of their favorite picks in the market right now.

15 Best Crypto Presale Projects for April 2024

Alternatively, see Cryptonews analyst Crypto Arjay’s top picks in the below video.

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.