Today’s Leading Cryptocurrency Performers on DEX Screening: LICK, SPACEX, PEPES
In the dynamic world of cryptocurrency, Bitcoin’s price has soared, fueled by an unprecedented weekly influx into crypto Exchange Traded Products (ETPs), marking a significant milestone.
On March 11, amidst fluctuating blue-chip crypto markets that saw Bitcoin (BTC) ascend to new all-time highs above $73,000, only to retreat to the $68,000s, the focus has shifted towards on-chain markets seeking notable gains. Despite a sharp pullback due to profit-taking and long-liquidations, Bitcoin rebounded robustly, maintaining a strong 13% growth over seven days, as highlighted by CoinMarketCap.
This surge in Bitcoin’s value, a robust 47% increase over the last 30 days, is largely driven by surging ETF demand, keeping bulls firmly in charge. The buzz around the upcoming halving in April, set to slash BTC’s inflation rate, has yet to peak fully, suggesting a potential push towards the $100,000 mark in the near term.
Risk-tolerant investors, aiming for even higher returns, are exploring the altcoin market, notorious for its potential to yield 10-20x gains if luck strikes. A significant chunk of these high-risk, high-reward opportunities lies within the on-chain “shitcoin” markets, characterized by their highly illiquid and volatile nature. These markets, built on blockchains like Ethereum and Solana, are accessible through decentralized exchanges, presenting a breeding ground for newly minted tokens that can skyrocket or plummet in value rapidly.
While these markets offer the allure of substantial gains, traders are cautioned against the high prevalence of scams and pump-and-dump schemes, underscoring the importance of thorough due diligence.
Amidst this backdrop, DEXTools has highlighted some of the day’s top crypto gainers, drawing attention to projects like Animax AI ($ANAI), HubAI ($HUBAI), and Pigeon Park ($PGENZ), each showcasing significant pumps. However, the inherent risks of these ventures, including potential scam accusations, necessitate a cautious approach from investors.
For those seeking safer alternatives, established meme coins like Smog (SMOG) on the Solana blockchain offer a compelling proposition. With a strong community backing and a significant market presence, SMOG presents a more stable investment opportunity within the volatile meme coin landscape, potentially yielding substantial returns without the heightened risk associated with less established tokens.
