As crypto markets push higher in wake of US inflation data that has bolstered Fed rate cut confidence and in anticipation of pro-crypto remarks from US President Donald Trump at the Nashville Bitcoin Conference on Saturday, meme coins are popping and are the top crypto gainers today.
Bitcoin (BTC) has pushed up 3.6% in the past 24 hours, per CoinMarketCap and is probing $68,000.
The world’s largest crypto could soon push back to record highs near $74,000 if it can break the downtrend from yearly highs.
Risks remain very much tilted to the upside in the coming months.
That’s because Fed rate cuts are nearing and US politics appears to be a major headwind that could accelerate BTC adoption, including via increased institutional ETF purchases.
On that note, various state pension funds have been in the headlines this week as they begin diversifying into BTC.
Another state pension fund has added Bitcoin to its portfolio.
In an SEC filing this morning, the State of Michigan Retirement System reported owning $6.6 million of the ARK Bitcoin ETF (110,000 shares) as of June 30.
This follows Wisconsin's disclosure last quarter.
Filing:…
— MacroScope (@MacroScope17) July 26, 2024
While Bitcoin’s rally could continue over the weekend, making it a great crypto to buy now, its not a top gainer.
Much smaller, lesser-known and newer meme coins trading in the on-chain decentralized markets take that crown.
Traders often use tools like DEXScreener to identify top crypto gainers today.
Here are some of the top performers on the Ethereum blockchain that traders will be watching.
Top Crypto Gainers Today
American Pepe (USPEPE)
A patriotic US-themed version of the Pepe meme coin called American Pepe (USPEPE) is pumping.
As per DEXScreener, USPEPE is up 870% in the past 24 hours, its market cap reaching $4.1 million.
That pump comes amid a surge of $4 million in trading volumes.
Previous ATH smashed! $USPEPE made America great again. And it makes it even greater day by day!#USPEPE pic.twitter.com/YlAHIIobzS
— AmericanPepe (@USPepeERC20) July 26, 2024
But traders should note that USPEPE’s liquidity it relatively thin at just $300,000, under 10% of its market cap.
A few large sell orders could reverse all of the recent gains.
Traders must remember that on-chain markets are exceedingly volatile and risky.
The must do their own due diligence and never risk more than they can afford to lose.
Gold Standard (BAR)
A fun new shitcoin called Gold Standard (BAR) has been pumping for three days straight.
#4
$BAR @GOLDSTANDARDETH pic.twitter.com/le9K20FR6o
— Gr8erfool.eth (@Neali0o) July 26, 2024
Per DEXScreener, it was last up 168% in 24 hours, amid $2.8 million in trading volumes.
That’s taken its market cap to nearly $6 million, and its liquidity to over $500,000.
The token seems to have a decent standing in the crypto degen community.
It has 242 rocket emoji upvotes to just 38 red flags and 12 poo emojis.
Go+ Security, meanwhile, finds no concerning aspects to its smart contract.
But this doesn’t mean the token isn’t a scam or pump-and-dump scheme.
Traders must exercise extreme caution in shitcoin markets.
Bug (BUG)
Another Matt Furie (the creator of the Pepe cartoon) meme coin is popping.
Bug (BUG), based on a cartoon of one of his other creations, is up 200% in 24 hours.
That’s according to DEXScreener, who puts BUG’s market cap at $2.5 million.
Despite impressive recent returns, that leaves plenty of room for further valuation growth.
Quick Intel and Token Sniffer seem to think the token’s smart contract is clean.
But traders need to be cautious. With just $230,000 in liquidity, a few big sell orders could send the market tumbling in no time.
Crypto Alternatives to Consider – Presales
Rather than investing in highly risky micro-cap meme coins, investors should 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.
15 Best Meme Coins to Buy in July 2024
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