As major cryptocurrencies nervously await Israel’s response to Iran’s missile attack on Tuesday and important US economic data coming up later this week, crypto degenerates are flocking to the always volatile on-chain DEX markets on the hunt for top crypto gainers today.
Bitcoin (BTC) was roughly flat in the $61,000 area over the past 24 hours, per CoinMarketCap.
Most other major meme coins, meanwhile, were trading in the red.
Solana (SOL) was down 3%, Ethereum (ETH) was down 3.6% and XRP (XRP) was down 11.5% over the same time period.
Regarding the geopolitical situation, things are likely to get worse before they get better.
Indeed, risks seem tilted strongly towards a major Israel/Iran war breaking out – Israel is expected to respond powerfully, prompting a new response from Iran.
And the tit-for-tat blows could quickly escalate into full-blown conflict.
So even if US economic data is strong this week, pushing back against US recession fears, major crypto prices could well decline further.
That could reflect the growing risk that a major Middle Eastern war disrupts global oil and gas flows, which could itself cause a global recession.
With hopes for a strong “uptober” seemingly up in smoke, its no wonder that traders are flocking to the DEX markets.
Regardless of market conditions, there are always new meme coins performing well, purely based on retail investor hype.
Here are some top crypto gainers today in the DEX markets that traders will be keeping an eye on.
Top Crypto Gainers Today in the DEX Markets – Which Are They?
Nailong (NAILONG)
A new Solana meme coin called Nailong (NAILONG) has seen an explosive start to life.
Since launching early on Wednesday, it has pumped up over 3,000% or more than 30x, per DEXScreener.
Its market cap was last $1.9 million, with an impressive $14 million in trading volumes so far. The crypto has $168,000 in locked liquidity, not bad for a shitcoin.
That said, if a whale wanted to cash out, the price could quickly crash.
Nailong seems active on social media and attempting to grow a community.
But that doesn’t mean the coin isn’t some kind of scam or pump-and-dump scheme.
Traders must always be cautious in the DEX markets.
FLOOS (FLOOS)
Another Solana meme coin called FLOOS (FLOOS) is one of the top crypto gainers today on DEXScreener.
Last up 256% in 24 hours, FLOOS has reached a market cap of $4.6 million, with an impressive $539,000 in locked liquidity.
The token appears to be popular with the DEXScreener user community.
It has over 900 rocketship emoji votes and 311 fire votes to just 19 red flag emoji votes.
It also seems to be getting pretty good social media engagement, with close to 2,000 followers on X.
That doesn’t mean this meme coin will have longevity, however.
Almost none do, so traders must never risk more than they can afford to lose.
CHOW (CHOW)
The final name on the top crypto gainers today list worth mentioning is CHOW (CHOW), a BNB meme coin.
After pumping 112% in the past 24 hours, CHOW has a market cap of just under $3.0 million, per DEXScreener.
After breaking above an intra-day downtrend, CHOW could be about to accelerate to the upside.
However, Go+ Security has identified two aspects of its smart contract that are concerning. This crypto could easily be a scam, so traders need to be very careful.
Better Alternative to Consider
While still risky, and alternative investment strategy worth considering is crypto presale investing.
The volatility of on-chain DEX markets leaves traders exposed to FOMO, raising the risk they make a bad investment decision.
By contrast, the very definition of a presale means a private sale of a token ahead of its market launch.
Presales normally last a few weeks, allowing investors time to research a project before getting involved fully. FOMO risks are much lower.
Presales remain risky – a project may fail to deliver on its promises.
But they can be a great way to get into a high-potential crypto early and at a discount price.
Cryptonews.com keeps a close eye on the presale market. Here are some of their top picks.
16 Best Crypto Presales to Invest In Now
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