By As Bitcoin (BTC) pushed towards $73,000 on Monday and Ether (ETH) above $4,000, the crypto market rally has broadened in favor of recent laggards, with the likes of XRP (XRP) and Litecoin (LTC) experiencing notable pumps–though these coins were far from the top crypto gainers today.
XRP rallied 16% and Litecoin 20% in the past 24 hours, CoinMarketCap data shows.
Bitcoin (BTC) and Ether (ETH), meanwhile, were each up in the region of 4% over the same time period.
The market continues to derive strong support from spot Bitcoin ETF inflows, which come ahead of next month’s halving.
Ethereum is also set to undergo a major upgrade this week that should give a particular boost for layer-2 protocols.
While the outlook for the broader market remains positive, crypto traders looking for quick gains continue to hunt low-cap coins.
And the undoubtedly best, though also riskiest, place to find such coins is in the on-chain shitcoin markets.
On-chain markets refer to the market for assets (like NFTs or ERC-20 tokens) that have been issued on another blockchain.
For example, the Shiba Inu (SHIB) token lives on the Ethereum blockchain as an ERC-20 token.
The thing with on-chain markets is that almost anyone can launch any coin at any time.
On-chain markets are thus a swamp of shitcoins, the majority of which are either scams or pump-and-dump schemes.
Still, thanks to their low liquidity and tiny market caps, shitcoin markets are the only market where an investors can 10x (or more) their initial investment in under 24 hours.
Here are some of the top crypto gainers today in the shitcoin market that traders will be watching.
Top Crypto Gainers Today
OpClouds ($OPC)
A just-launched shitcoin called OpClouds ($OPC) which claims to be transforming decentralized physical infrastructure (DePIN) with decentralized computing resources as a service has seen a big 21,500% pump on its first day of trade, as per DEXTools.
That has seen its market cap rise to $1.97 million, and liquidity reach $250,000.
It’s worth noting that liquidity is locked, reducing the risk of a rug pull.
But Quick Intel’s audit of its smart contract shows there is a hefty 20.9% sell tax.
Investors should always do their due diligence when investing in shitcoins.
HuskyInu ($HUSKY)
Husky-themed meme coin HuskyInu ($HUSKY) is up nearly 22,000% since launching on Monday, as per DEXTools.
That has seen the token’s market cap rise to $876,000 and liquidity to around $270,000.
The token also has close to 300 holders, with $150,000 in volume having changed hands.
DEXTools’ security audit reveals no concerning aspects to the token’s smart contract.
But that doesn’t mean the token isn’t a pump-and-dump scheme for sure.
Again, always do your own research before getting involved in shitcoin markets.
Tao Ceti ($CETI)
Another DePIN shitcoin called Tao Ceti ($CETI) has pumped over 4,500% on Monday, hitting a market cap near $11 million.
The shitcoin has nearly $2.7 million in liquidity and has seen volumes of $1.65 million since launch.
It has a 5% tax but, concerningly, this is modifiable.
Traders should thus be very cautious as the token’s issuer could easily jack this up to 100%.
Alternatives to Consider – Smog (SMOG)
Shitcoins are highly risky. Most are either outright scams or, at the very least, pump-and-dump schemes designed to leave unsuspecting investors holding the bag.
A much better strategy is to look for more established meme coins that already have a presence but haven’t seen a massive pump just yet.
One such meme coin is a recently launched Solana coin called Smog (SMOG).
Its price has pumped nearly 8x since late February to reach a market cap of $270 million, as per DEXTools.
The dragon-themed token markets itself as offering Solana’s greatest airdrop of all time.
Traders can qualify for the airdrop by buying and holding SMOG on Solana, or staking the token on Ethereum.
Even though its market cap remains modest, SMOG already boasts a strong community.
Indeed, as per birdeye.so, it already has over 60,000 holders.
Given all the excitement about Solana airdrops in recent months, SMOG could gain significant interest in the coming weeks.
SMOG could deliver at least 10x gains to investors, hence its rank in the best crypto meme coins to buy now.
Traders should note that they can clinch a 10% discount when buying SMOG directly through the project’s website.
They can also stake their tokens for a 42% APY.
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