As the week comes to a close, most major cryptocurrencies experienced a decline, ending Friday’s session in the red. The market downturn is attributed to rising nerves ahead of the US Presidential election, prompting traders to be more cautious as they head into the weekend. However, this uncertainty hasn’t deterred some investors from diving into on-chain decentralized exchanges (DEX) in search of promising crypto gainers.
Decentralized Exchange (DEX) Markets Thrive
Despite the general market pullback, traders are increasingly turning to decentralized exchanges, particularly due to the allure of newly launched DEX tokens. These tokens often display incredible volatility, posting gains of over 10 times their original value within just a few hours. This volatility is primarily due to low liquidity levels, meaning that even modest buy or sell orders can significantly affect the price.
To capitalize on these quick opportunities, traders utilize tools such as DEXScreener to identify new and trending tokens that offer the potential for rapid gains.
Spotlight on Top Crypto Gainers
Today, several tokens have distinguished themselves in the DEX market, showing remarkable gains. Leading the pack is a Solana-based AI meme coin known as Dasha (VVAIFU), which has surged by over 1,000% in the last 24 hours according to DEXScreener data. This meteoric rise has propelled its market cap to approximately $4.5 million, supported by a trading volume of $3.1 million within the same period. The coin is generating significant buzz, particularly as it attempts to attract attention from social media figures like @truth_terminal.
Another standout performer is Pesto (PESTO), which has experienced a dramatic 400% increase in the past day. With its market cap hovering around $4.3 million and around $600,000 in locked liquidity, PESTO is gaining traction among traders looking for meme coins with potential.
Additionally, the Degen Spartan AI (DEGENAI) coin has not gone unnoticed, witnessing a 350% rise within 24 hours, leading it to achieve a market cap of about $2.3 million per DEXScreener. As with many AI-themed meme tokens, while they are currently capturing the interest of investors, a majority of them could ultimately fall prey to scams or be prone to rapid price fluctuations typical of pump-and-dump schemes.
Investing Wisely in the AI Crypto Space
For investors seeking high returns in this fast-paced market, it may be more prudent to consider investing in fundamentally sound AI crypto projects at an early stage via presales. Advanced strategies might involve keeping an eye on expert previews and analysis from reliable sources. For instance, Cryptonews.com’s analyst, Crypto Chester, has shared insights on two promising AI presale projects which are highlighted in a recent video.
Moreover, readers interested in refining their investment strategies can explore Cryptonews.com’s top presale picks, featuring the best opportunities in the continually evolving cryptocurrency landscape.
As the cryptocurrency world evolves, investors must remain vigilant, conducting thorough research and analyzing market trends to make informed decisions while navigating through the volatility that characterizes this exciting field.