Top Crypto Gainers Today on DEXScreener – FWUG, SED, ZHOA

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Joel Frank

Author

Joel Frank

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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Last updated:

August 23, 2024 08:31 EDT

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While it was a fairly tame/mixed day in major crypto markets, as traders await a key speech from Fed Chair Jerome Powell on the monetary policy outlook this Friday, micro-cap on-chain DEX markets were ablaze, with some top crypto gainers today notching huge exponential gains.

Anyone can issue a new coin in the on-chain DEX markets.

And that means hundreds of new coins are popping up every day, the vast majority being either scams, rug pulls or pump-and-dumps.

Even if a coin isn’t a scam, and is backed by a promising, legitimate project, risks are still high.

That’s because almost non-existent liquidity means that small buy/sell orders can trigger huge price moves.

These moves can easily catch traders off guard. It’s not uncommon for a coin to pump 10x then dump 90% within a few hours.

As a result, the top crypto gainers of each day are almost always to be found in on-chain DEX markets.

Traders often use tools like DEXScreener as they search for top crypto gainers today.

Here are some trending coins that traders will likely be monitoring, per DEXScreener.

Top Crypto Gainers Today – Which Are They

FWUG (FWUG)

A new Solana meme coin called FWUG (FWUG) is enjoying a strong pump, gaining 250% in the past 24 hours per DEXScreener.

The coin’s market cap is still at a modest $200,000, meaning plenty of room left to run to the upside.

That said, it has just $46,000 in locked liquidity. A tiny sell order (say $10,000) could crash the price by a large amount.

Traders must do their due diligence before buying, and must never risk more than they can afford to lose.

Smoking eagle dog (SED)

Another Solana meme coin called smoking eagle dog (SED) is gaining momentum, up nearly 200% in 24 hours. That makes it another one of the top crypto gainers today.

It last had a market cap of $770,000, still small. But its liquidity is also thin at only around $100,000.

However, this coin appears to have a lot of community support. Per DEXScreener, it has over 3,000 rocket emoji upvotes, to just 20 red flag emoji votes.

Chengpang Zhoa (ZHOA)

A Binance Smart Chain-based meme coin themed on jailed ex-Binance CEO Chengpang Zhoa called ZHOA is up 200% in 24 hours, per DEXScreener.

That means it ranks amongst the top crypto gainers today.

It has a few concerning aspects to its smart contract, however, per a Go+ Security audit.

This coin could well be a scam.

Alternatives to Top Crypto Gainers – Presales

Rather than investing in high-risk micro-cap top crypto gainers today, investors may instead want to consider meme coin presale investing.

Analysts at Cryptonews.com keep a close eye on the presale market.

They have compiled a list of meme coin presales that they think have a lot of potential.

16 Best Meme Coins to Buy

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.