Here are the top cryptocurrency gains today on DEXScreener

Last updated: May 7, 2024 8:38 pm EDT | 4 minute read

Traders are turning to tools like DEXScreener as they seek the best cryptocurrency gains in the on-chain markets today / Source: Cryptonews

On a mostly bearish day in the cryptocurrency market on Tuesday, Render (RNDR), Kaspa (KAS), and Tron (TRX) are the top crypto gainers today and some of the only coins trading in the green over the past 24 hours.

Each of these altcoins it has increased between 1.5 and 5% in the last 24 hours.

Bitcoin (BTC), meanwhile, fell 1.2% on Tuesday to lows of $62,000, after finding resistance once again at its 50DMA.

While the world’s largest cryptocurrency remains broadly higher from last week’s lows, that suggests the bulls have not regained full control.

This shouldn’t be a surprise. THE The SEC hit Robinhood with a Wells Notice this weekputting US regulatory uncertainty once again under the spotlight.

The outlook for Bitcoin remains one of consolidation for the coming months. First, the summer months tend not to be particularly exciting for BTC.

Second, post-halving rallies typically do not push the price to new highs for about 4-6 months. The last halving occurred just a few weeks ago.

Furthermore, The Fed’s rate cuts are not expected until the end of the year. And much could still change, pushing expectations for major cuts into 2025 as continued U.S. economic strength and high inflation.

As a result, Bitcoin does not have the narrative strength to push it higher at this time. It will likely remain stuck within the recent ranges of around $56,000-$74,000.

Bitcoin is not among the top cryptocurrency gainers today, and may not be for some time as it languishes within recent ranges. Source: TradingView

With blue-chip cryptocurrencies likely not to inspire much in the coming months, traders are looking for alternatives.

Given the prospect of getting rich quick, highly volatile and illiquid on-chain markets are one place traders are turning.

Today they often use tools like DEXScreener to search for the best cryptocurrency gains.

But investors need to remember: Almost all new coins issued on-chain are scams, pull-pulls, or pump-and-dumps.

With that said, here are some of the top cryptocurrency gains today on Ethereum as per DEXScreener.

Top cryptocurrency gains today on DEXScreener

AI Wallet (WALLETAI)

A newly launched rumored AI wallet token called WalletAI (WALLETAI) is pumping in its first day.

The token is up 21,500%, according to DEXScreener, with a market capitalization of $1.6 million and locked liquidity of $230,000.

But traders should be cautious with this token. He has no information on his DEXScreener page: no Twitter, no website. Nothing.

Go+ Security also identifies three issues with its smart contract, including a 5% purchase and sales tax.

This token could easily be a scam of some kind. Investors should always do their due diligence.

BOBO (BOBO)

A newly launched bullshit coin called Bobo (BOBO) rose 8,000% on the day, according to DEXScreener.

It last had a market capitalization of $3.4 million, with $250,000 in unlocked cash.

Like WalletAI, it has no information on its DEXScreener page. Investors should always familiarize themselves with a project before purchasing its token.

As they read up on a project, they shouldn’t consider the warning signs they notice or the gut feeling they feel that something isn’t right.

BOBO only has a smart contract problem, as per Go+ Security.

Mew on ETH (MEW)

A cat-themed meme coin called Mew on ETH (MEW) surged more than 3,000% in 24 hours, according to DEXScreener.

Despite these impressive gains, its market capitalization is still small, just over $200,000. The token also has $70,000 in locked liquidity.

https://twitter.com/MewErc20/status/1787997709380571445

MEW seems designed for cat fans in the crypto space who may be fed up with the dominance of dog meme coins.

The meme coin has a Telegram group that has already amassed 144 members.

Just because this coin contains more information than the others on this list doesn’t mean it can be trusted.

Investors should never risk more than they can lose in on-chain markets.

Best Alternative to Consider – Wiener AI (WAI)

Investors tempted to dive into risky, speculative coins obviously have a high-risk tolerance.

This risk appetite might be better met with a different strategy that, while also risky, has higher upside potential.

The strategy in question is presale investing, which involves purchasing tokens of emerging crypto projects before they gain traction.

Presale investments are risky because projects may not deliver on promises or achieve adoption.

But if investors can reliably identify high-potential projects, they can make big gains.

A new funny AI meme coin called Vienna AI (WAI) attracted the attention of Cryptonews analysts.

The Sausage Dog-themed meme coin offers a number of useful AI trading features and has already raised over $1.2 million.

Interested investors need to move quickly, as the WAI price will increase in 8 hours.

Currently priced at $0.000704, investors are buying WAI at a market cap of around $45 million.

But investors could see gains of 10x or more if WAI manages to become the market leader.

Not only is WAI an exciting meme coin with AI features, but it is also a passive income gem.

20% of the offering went towards staking rewards. Presale investors are currently earning a whopping 1091% APY.

At this rate, investors can double their initial pre-sale investment in less than a month.

Buy Wiener AI here

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

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