On a day when major cryptocurrencies remained close to their weekly lows, traders turned to on-chain DEX markets in their search for top crypto gainers.
Even on a good day for the broader crypto market, the top crypto gainers are often found in the DEX markets. This is because cryptos trading on DEXs on blockchains like Ethereum and Solana are usually very illiquid. A relatively small amount of buy or sell pressure can result in significant price swings.
On-chain DEX markets are appealing to traders due to stories of traders achieving 100x or more gains and becoming wealthy from small investments. However, readers should remember that these occurrences are extremely rare. More likely, a trader will get caught on the wrong side of extreme volatility or, worse, the coin they are trading may be a scam or pump-and-dump scheme.
With that in mind, here are some top crypto gainers on DEXScreener that traders are monitoring.
**Top Crypto Gainers Today on DEXScreener**
MakeFrens (MF) is the first notable name on the top crypto gainers list. It was last up over 85,000% in the past 24 hours, per DEXScreener, with a market cap of $4.9 million.
The new Ethereum meme coin launched earlier in the day and has already amassed $800,000 in trading volumes, not bad. However, its liquidity is less than 10% of its market cap at $440,000. A small amount of sell pressure could trigger a big reversal. MF also has a 5% buy-and-sell tax.
Another top crypto gainer today is Screaming Rubber Chicken (SRC), which has seen strong price action. According to DEXScreener, the Solana meme coin was last up nearly 2,000% in the past 24 hours.
Its market cap is a modest $1.2 million, with $2.2 million in 24-hour trading volumes. DEXScreener’s security audit finds no concerning aspects to its smart contract. The token also appears popular in the trading community, with 427 rocket ship emoji upvotes to just 41 red flag votes on DEXScreener.
Finally, $OCCER token is up 1,277% on DEXScreener, with its market cap surpassing $800,000. However, this shitcoin has barely $80,000 in liquidity. Traders must remember the high risks involved in trading these types of cryptos. Almost none will retain any long-term value.
