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Traders Flocking to On-Chain Shitcoin Markets
As major cryptos edge back from their post-Fed meeting highs, traders looking to turn a quick profit are flocking to the on-chain shitcoins markets as they hunt top crypto gainers today. Bitcoin (BTC) has slipped back to trade in the mid-$65,000s, now down 4% on the day. Ether (ETH), meanwhile, is falling back towards $3,400, though both remain substantially above Wednesday’s lows.
Meme Coins on Solana Blockchain
Blue-chip cryptos are struggling against a wave of profit-taking-driven sell pressure, while many newly launched shitcoins and meme coins are pumping. Meme coin trading on Solana has exploded recently thanks to the blockchain’s low fees and fast transactions.
On-Chain Markets and Potential Risks
On-chain markets refer to the market for digital assets that have been issued directly on top of an existing blockchain. These tokens can then be traded on decentralized exchanges (DEX), and also perhaps on centralized exchanges if they get big enough. They are often referred to as meme coin (or shitcoin) markets and virtually anyone can issue a token at any time. As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
Top Crypto Gainers Today on Solana
- Koala AI (KOKO): A just-launched shitcoin called Koala AI (KOKO) has pumped up 380,000%, with a market cap of around $16.2 million and nearly $5 million in trading volumes.
- God of Meme (GODME): Another just-launched meme coin called God of Meme ($GODME) is up over 9,000% in 24 hours, with over $8.5 million in trading volume.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy. An innocent-looking project could easily turn out to be a scam. A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales. Savvy presale investors routinely secure gains of 10x or more.
High-Potential Presale Projects
With hundreds of presale projects vying for investor funds, analysts have been combing the market. Here are 14 of the presale projects with the highest potential.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
