Top Crypto Gainers Today – EPENG, MATT, BARON
As major cryptos struggle, despite just released softer-than-expected US CPI data that has helped shore up Fed rate cut bets starting September, traders are looking to on-chain markets as they hunt top crypto gainers today.
Bitcoin (BTC) slipped back below $58,000 during US trading hours as sell pressure at the 200DMA kept weighing.
Ethereum (ETH), meanwhile, pushed a little higher, but remained stuck in the mid-$3,100s.
Continued selling from miners and Mt Gox creditors, who are currently being repaid a huge amount of BTC, may keep major cryptos under pressure for some time.
That will tempt impatient traders to turn to riskier, more volatile cryptos, such as those traded on-chain.
Indeed, the top crypto gainers each day are normally newly launched coins on blockchains like Ethereum or Solana.
Most of these newly launched tokens have very thin liquidity and are either scams or pump-and-dumps.
But some can post massive gains. And savvy traders, if they get in and out at the right time, can bag huge gains.
That said, here are some top crypto gainers today on Ethereum, as per DEX monitoring tool DEXScreener.
A newly launched shitcoin called Elephant Penguin (EPENG), which appears to be based on a Family Guy character, is up big on Thursday, having risen 24,000% in the past 24 hours as per DEXScreener.
Its market cap was last around $1.1 million, with $1.8 million in 24 hour trading volumes.
Traders should be very cautious about this token. It has five concerning aspects to its smart contract, as per Go+ Security.
These include a modifiable tax, unrenounced ownership and a hidden owner.
Another just launched shitcoin called Matt (MATT) has rallied 100% in 24 hours, taking its market cap to $9.3 million.
Thats
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