As major cryptocurrencies anxiously anticipate Israel’s response to Iran’s missile attack on Tuesday and await key US economic data later this week, crypto enthusiasts are turning to the volatile on-chain DEX markets in search of today’s top crypto gainers.
Bitcoin (BTC) remained stable around the $61,000 mark over the past 24 hours, according to CoinMarketCap. Most other major meme coins, however, were in the negative. Solana (SOL) fell by 3%, Ethereum (ETH) declined by 3.6%, and XRP dropped by 11.5% during the same period.
The geopolitical tensions are likely to worsen before improving. Indeed, the risk of a significant conflict between Israel and Iran appears high, with Israel expected to retaliate strongly, leading to further responses from Iran. Such exchanges could rapidly escalate into a full-scale conflict. Even if US economic data is favorable this week, quelling fears of a US recession, major crypto prices might still fall. This could reflect the increasing risk of a major Middle Eastern conflict disrupting global oil and gas supplies, potentially triggering a global recession.
Despite market conditions, there are always new meme coins performing well purely based on retail investor excitement. Here are some top crypto gainers today in the DEX markets that traders are monitoring.
**Top Crypto Gainers Today in the DEX Markets – Which Are They?**
**Nailong (NAILONG)**
A new Solana meme coin called Nailong (NAILONG) has experienced a remarkable surge. Since its launch early on Wednesday, it has skyrocketed over 3,000%, or more than 30 times its initial value, according to DEXScreener. Its market cap recently reached $1.9 million, with an impressive $14 million in trading volumes so far. The crypto has $168,000 in locked liquidity, which is notable for such a coin.
That said, if a large holder wanted to cash out, the price could quickly plummet. Nailong appears active on social media and is attempting to build a community. However, this doesn’t mean the coin isn’t a potential scam or pump-and-dump scheme. Traders should always exercise caution in the DEX markets.
**FLOOS (FLOOS)**
Another Solana meme coin, FLOOS (FLOOS), is among the top crypto gainers today on DEXScreener. It has increased by 256% in 24 hours, achieving a market cap of $4.6 million, with $539,000 in locked liquidity. The token is popular with the DEXScreener user community, boasting over 900 rocketship emoji votes and 311 fire votes compared to just 19 red flag emoji votes. It also has strong social media engagement, with nearly 2,000 followers on X. However, this doesn’t guarantee the coin’s longevity. Most meme coins don’t last, so traders should never risk more than they can afford to lose.
**CHOW (CHOW)**
The last notable crypto gainer today is CHOW (CHOW), a BNB meme coin. After surging 112% in the past 24 hours, CHOW has a market cap just under $3.0 million, according to DEXScreener. After breaking above an intra-day downtrend, CHOW might be poised for further gains. However, Go+ Security has identified concerning aspects of its smart contract, suggesting the possibility of it being a scam. Traders need to be very careful.
**Better Alternative to Consider**
While still risky, an alternative investment strategy worth considering is crypto presale investing. The volatility of on-chain DEX markets leaves traders vulnerable to FOMO, increasing the risk of poor investment decisions. In contrast, presales allow for private token sales before market launch, typically lasting a few weeks, giving investors time to research projects thoroughly. Although presales come with risks—projects might not fulfill their promises—they offer a chance to invest in high-potential crypto early and at a discount.
Presales can be an effective way to get involved early with promising cryptos.
Twitter: “This is what happens when everyone tweets ‘uptober’ – Honey (@honey_xbt) October 1, 2024”
