Biggest Crypto Gainers Today on DEXTools – Godzilla, AOKIJI, DEE Blue chip cryptocurrency prices are lower across the board on Wednesday in wake of the latest US Producer Price Index (PPI) inflation numbers, which came in hotter than expected.Bitcoin (BTC) was down close to 2.5% on the day and back in the mid-$26,000s, its lowest level of the month so far, having also broken out of its short-term uptrend that had been in play since mid-September.Ether (ETH) was nursing smaller losses and trading...

Blue chip cryptocurrency prices are lower across the board on Wednesday in wake of the latest US Producer Price Index (PPI) inflation numbers, which came in hotter than expected.

Bitcoin (BTC) was down close to 2.5% on the day and back in the mid-$26,000s, its lowest level of the month so far, having also broken out of its short-term uptrend that had been in play since mid-September.

Ether (ETH) was nursing smaller losses and trading in the $1,550 region, though is ominously threatening a break below key support that could open the door to a swift drop back towards the $1,300s.

The likes of Solana (SOL), Cardano (ADA), XRP (XRP) and Dogecoin (DOGE) were all last down 1-5% over the past 24 hours, as per CoinGecko.

While hot inflation data is a concern to the crypto market in so far as it may force the Fed into lifting interest rates even further, and holding them at higher levels for longer, that doesn’t necessarily jibe with recent Fed commentary.

On the contrary, on Tuesday, another Fed policymaker signaled that he didn’t think the bank needs to raise interest rates anymore, after a few other Fed policymakers had argued that the recent rise in long-term US bond yields had done the Fed’s tightening for it.

As a result, US bond yields and the US dollar have been backing off highs in recent days, and this could help put a floor under crypto.

That being said, geopolitics remains a concern as the Israel/Palestine war escalates, and this continues to weigh on crypto sentiment.

With the outlook for blue-chip cryptocurrencies weak, traders will continue to turn to the highly illiquid shitcoin/meme coin markets in the hunt for profitable trading opportunities.

Here are some of the top performers, as per DEXTools.

Godzilla ($GODZILLA)

A new meme coin called Godzilla ($GODZILLA) that only just launched has seen an explosive start to life, surging a stunning more than 550% in the past 24 hours, as per DEXTools.

Its market cap was last around $370,000, amid 24-hour trading volumes of around $720,000, with the token having reached nearly 300 holders and with liquidity of around $220,000.

As per DEXTools’ security audit, the token’s contract doesn’t have any concerning aspects to it, but liquidity isn’t locked so it could still potentially end up as a rug pull.

While the token has a community trust score of 85%, investors should always exercise extreme caution when investing in newly launched meme coin projects.

Marine Admirals Aokiji ($AOKIJI)

A new shitcoin called Marine Admirals Aokiji ($AOKIJI) that launched on Tuesday has been pumping and is up 240% in the past 24 hours, as per DEXTools.

It last had a market cap of around $180,000 amid 24-hour trading volumes of a little over $500,000, with now more than 100 holders and over $160,000 in liquidity.

The token only has two contract alerts, as per DEXTools’ security audit, but unlocked liquidity means that the token remains a rug pull risk.

Dee Jay ($DEE)

A recently launched shitcoin called Dee Jay ($DEE) has pulled back a little from highs, but is still trading with solid 24-hour gains in the region of 50%, as per DEXTools.

The token’s market cap was last around $370,000 amid nearly $1 million in 24-hour trading volumes, with the token having secured around 270 holders and with liquidity of around $280,000.

$DEE only has two token contract alerts, as per DEXTools’ security audit – an antiwhale mechanism and a potential trading cooldown.

Crypto Alternatives to Consider

Shitcoins are very risky, given most have no real value proposition.

For those looking for an even better probability of near-term gains, an alternative high-risk-high-reward investment strategy to consider is getting involved in crypto presales.

This is where investors buy the tokens of up-start crypto projects to help fund their development.

These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.

If an investor can identify such projects, the risk/reward of their presale investment is very good.

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.

Here is a list of 15 of what the project deems as the best crypto presales of 2023.

See the 15 Cryptocurrencies

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.