Amid a positive start to the week for major cryptos that saw the Bitcoin (BTC) price increase by 1.5%, top crypto gainers today in the DEX markets are posting big gains.
A judge just approved FTX’s bankruptcy plan to see $16 billion in cash returned to creditors.
Some analysts think a big portion of this will return to the cryptocurrency markets.
As long as Israel/Iran tensions don’t spoil the party, “uptober” might be around the corner.
“Uptober” Inbound?
Recent macro data, like last week’s jobs report, suggest that the US economy is holding up well. However, the Fed is still expected to cut interest rates multiple times in the coming quarters to ensure that monetary policy isn’t overly restrictive.
The combination of a still robust economy and falling interest rates is potentially a “goldilocks” combination for cryptos.
Add in the upcoming election, which US President Donald Trump appears to be the favorite for, per Polymarket betting markets, and the delayed tailwinds from the BTC halving, and thinks are potentially looking very good for Q4.
Trump's lead is up to 8.6% in the odds today.
He's nearing his biggest lead since Kamala Harris entered the race. pic.twitter.com/PpJtjyxnZ0— Polymarket (@Polymarket) October 7, 2024
Bitcoin could well still hit $100,000 this year.
Anticipation of a strong end to the year has meme coin markets pumping.
It's a memecoin season. I feel bullish on memes. pic.twitter.com/1qPYufnPOs
— Cryptokking (@cryptokking_) October 7, 2024
According to CoinMarketCap, of the top 100 cryptos by market cap, most of the top crypto gainers today are meme coins.
Neiro on Ethereum (NEIRO) has increased by nearly 40% in 24 hours, Cat in a Dog’s World (MEW) has increased by 24%, and Mog Coin (MOG) has increased by 11%.
Those are impressive gains but pale compared to the top crypto gainers today in the DEX markets.
DEX markets are notorious for their extreme volatility, low levels of liquidity, and the high prevalence of scams.
So, while the prospect of quick 50x gains might tempt investors, they must always do their own research and never risk more than they can afford to lose.
Here are some top crypto gainers in the DEX markets today, per DEXScreener.
Top Crypto Gainers Today on DEXScreener
Bro the cat (BRO)
A new Solana meme coin called Bro the Cat (BRO) is pumping hard, up 5,700% in 24 hours per DEXScreener to a market cap of $5.0 million.
There appears to be a lot of excitement surrounding this coin. It already has over 500 followers on X and appears to be getting decent engagement.
And on DEXScreener, users have voted on the rocket-ship emoji 2,252 times versus just 27 red flags.
An audit also reveals no concerning aspects of the token’s smart contract.
That said, just because it looks innocent doesn’t mean it isn’t some kind of pump-and-dump or liquidity exit scheme.
Pinky the Pineapple (PINKY)
Another Solana shitcoin called Pinky the Pineapple (PINKY) is amongst the top crypto gainers today.
Per DEXScreener, it was up 440% in the past 24 hours, reaching a market cap of $1.3 million amid $8 million in trading volumes.
Like Bro, the Cat, PINKY appears to be getting good social media engagement and has a good emoji vote score on DEXScreener.
But like with BRO, investors should be cautious and do their research before opting in.
Nasdaq420 (NASDAQ420)
According to DEXScreener, an Ethereum meme coin called Nasdaq420 (NASDAQ420) is another one of the top crypto gainers today.
The shitcoin was last up 340% in 24 hours, reaching a market cap above $4.2 million amid $2.8 million in trading volumes.
However, its locked liquidity is less than $200,000, meaning that any big sell orders could quickly cause a price crash.
Newly launched tokens like those mentioned in this top crypto gainers today list are very risky.
Meme coin presales might be a better option. They offer investors a chance to invest in a project before it gets hyped and plenty of time to do their research.
In the video below, Cryptonews.com’s in-house presale analyst, Crypto Arjay, outlines three new meme coins he is most bullish on for October.
Alternatively, check out the list of Cryptonews.com’s favorite meme coin presales below.
19 Best New Meme Coins to Buy in October 2024
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