Top Cryptocurrency Gainers Right Now on DEXScreener: VANGOCH, EBULL, and KEK

Posted by cryptonews Crypto News August 29, 2024 2.7k Views

Top Crypto Gainers Today on DEXScreener / Source: Cryptonews

Top cryptocurrency performers today on-chain DEX markets are witnessing explosive volatility as Bitcoin (BTC) consolidates near $59,000 as traders process the most recent Nvidia earnings numbers, which sparked choppy after-market trading conditions for traders.

A new Solana meme coin called Kek (KEK) is up an impressive 300% in the past 24 hours, per DEXScreener.

With locked liquidity of only about $40,000, that still leaves its market cap at a modest $15,000.

But traders need to exercise caution when dealing with this coin. This is because users of DEXScreener seem to be suspicious, as evidenced by the token receiving 64 rocket ship emoji votes compared to 75 red flag emoji votes.

Trader caution should be exercised when investing more than they can afford to lose, as KEK could easily be a rug pull.

In other news, EBULL (EBULL), a Base meme coin, is currently among the top cryptocurrency gainers.

Per DEXScreener, it was up 212% in the past 24 hours.

However, those gains have only brought it to a little over $13,000 in locked liquidity and a market cap of about $40,000.

This implies that significant EBULL price movements could be triggered by very little buy or sell pressure.

That could fool a trader quite easily. In fact, traders need to keep in mind that on-chain DEX markets are extremely volatile due to their low liquidity.

The final name on the top crypto gainers today list worth mentioning is a Tron-based meme coin called VanGogh (VANGOCH).

Per DEXScreener, VANGOCH was last up just over 150% in the past 24 hours.

Due to this, its market value has increased to $4.4 million, with approximately $500,000 in locked liquidity.

24 hour trading volumes are also impressive at nearly $15 million.

VANGOCH seems to be a genuine meme currency. Justin Sun, the founder of Tron, has given it shoutouts.

Additionally, it has an excellent vote ratio on DEXScreener, with 728 votes for rocket emojis and only 37 votes for red flag emojis.

Better Alternative to Top Crypto Gainers Today

Even though a meme coin like VanGoch might appear like a wise investment, traders need to be aware of the dangers associated with on-chain DEX markets.

That is to say, nearly all tokens are either scams or pump-and-dumps.

The person who created the token, those who support it, and other unseen parties are nearly always trying to make a quick profit.

Therefore, in these markets, investors should never take on more risk than they can afford to lose.

Crypto presale investing is an alternative investment strategy that is worth considering, albeit still risky.

Due to the volatility of on-chain DEX markets, traders are more likely to experience FOMO and make poor investment decisions.

On the other hand, a presale is by definition a private sale of a token prior to its release on the market.

Presales typically last a few weeks, giving potential investors enough time to thoroughly investigate a project before committing to it. There is much less risk of FOMO.

Presales are still dangerous since a project might not live up to expectations.

However, they can be an excellent way to invest early and cheaply in a cryptocurrency with a lot of potential.

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