Top Crypto Gainers on DEXTools Today – X, KITE, SHAUN -TGN

Broader cryptocurrency markets remain subdued, with bitcoin (BTC) trading just above $29,000 and ether (ETH) still in the mid-$1,800 range ahead of the US Federal Reserve’s upcoming policy announcement on Wednesday.

Given the lack of good trading opportunities in blue-chip names, swordsmen continue to scour the highly speculative meme coin market for coins that can yield handsome profits in the short term.

Here are some of the top winning Ethereum-based coins of the day, according to DEXTools.

X (X)

In the wake of Elon Musk’s rebranding of Twitter to “X”, which will reportedly be an everything application that includes advanced financial services, dozens of shitcoins of the same name have sprung up and meme coin swords are piling up.

X(X) is the latest such shitcoin and, according to DEXToolshas already risen 150x from the launch price of the decentralized exchange (DEX).

The token currently has a market cap of around $300,000, has already seen an impressive trading volume of over $50,000 in just a few hours, and has already accumulated over 300 holders.

The token has a pretty decent 85/99 DEXT score and doesn’t appear to be a scam, though the token is almost certainly just another pump and dump trying to piggyback on the recent Twitter rebrand.

kite (KITE)

Beware of a scam coin called Kite (KITE) that tops the list of DEXTools gainers.

KITE is up 100x from when trading was possible earlier on Tuesday.

The chart shows an impressive near-constant line higher for its price.

But KITE comes with a hitch.

According to the token contract, there is 100% sales tax associated with it DEXtools’ audit.

So if you buy KITE, even if the price goes up, you lose everything if you sell.

Stay away from this coin and always make sure to take a closer look at DEXTools’ audit before buying a shitcoin, just in case such a scam has crept into a token contract in an attempt to rob you.

Shaun (SHAUN)

A Shaun the sheep-themed shitcoin called SHAUN is getting quite a bit of traction on Tuesday.

Since launching earlier today, SHAUN has already pumped about 13x to a market cap of over $1 million, with SHAUN at record highs at the time of writing.

The coin does not appear to be a scam token, with a score of 99/99 DEXTools and with 83.3% community trust.

The shitcoin already has 250 holders and an impressive trading volume of around $1.2 million.

The still small market cap and nice price action suggest it could keep pumping, but make sure you use DYOR before you invest, and remember that in the shitcoin world you can quickly lose your entire initial investment!

Better alternative to a Shitcoin

The volatility of the shitcoin market tends to attract investors, but most of these coins have no underlying utility or project vision, which means that almost all of them eventually end up as worthless coins.

Investors looking for a strong short-term profit opportunity should instead look at promising pre-sale projects, such as some of the projects explored by Cryptonews.com.

Here’s a project the team is a big fan of.

BTC20 (BTC20)

Billed as ‘Bitcoin on Ethereum’ and as an opportunity for members of the cryptocurrency community to buy bitcoin at the price of $1 in 2011, a new token called BTC20 has gained a lot of hype.

The tokenomics are designed to mimic bitcoin – a token supply limit of 21 million BTC20, with tokens released to BTC20 strikers (instead of miners) on the exact same issuance schedule as bitcoin.

Some argue that BTC20 is even better than bitcoin, as it runs on an eco-friendly, energy-efficient Proof-of-Stake Ethereum blockchain, rather than an energy-hungry Proof-of-Work chain like bitcoin.

According to the project white paperwants to raise BTC20 at least $3 million, although it could be as high as $6 million, through the sale of BTC20 tokens at $1 each.

With the project already raising nearly $2 million in just a few days, traders must act quickly to secure their spot.

Buy BTC20 here

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.