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Most cryptocurrency markets took a break on Wednesday from their recent surge, which was driven by anticipation over a Fed rate drop. Instead, traders focused on finding today's top cryptocurrency gainers on the DEX markets.
The biggest cryptocurrency in the world saw a recent decline of about 1.25% on the previous day. On Wednesday, the price of bitcoin (BTC) dropped by nearly $63,000 as investors awaited the release of crucial US inflation data on Friday and a speech by Fed Chair Jerome Powell on Thursday.
The majority of other significant cryptocurrencies were suffering comparable losses except for Solana and Toncoin. Now, let’s find out what happened next in October.
Crypto Prediction of October
Major cryptocurrencies often have a good October, and the beginning of a new Fed rate-cutting cycle increases the probability of gains next month. Any rise that starts in October may pick up speed in November as the US election becomes more unpredictable.
Before the year is out, Bitcoin might reach $100,000 and even higher record highs. However, on-chain DEX markets are more unpredictable and riskier, and traders seeking faster profits frequently move towards them.
They generally look for the top cryptocurrency gainers of the day using tools like DEXScreener.
Top Crypto Gainers on DEXScreener
1. ESTEE
One of the top cryptocurrency gainers today is ESTEE, an Ethereum meme coin with a Shiba Inu pattern that has increased by more than 5,000% in the last day. With slightly more than $120,000 in closed liquidity, its market capitalization was last at $1.2 million.
A worrying feature of ESTEE's digital contracts is a "trading cooldown," which means that the issuer has the ability to stop trading at any time. Even the token's X page appears extremely limited.
It is advisable for traders to avoid this cryptocurrency as it has the potential to be a fraud.
2. HDMI
Holy Drunk Midget (HDMI), a popular Solana meme coin, has increased by over 3,000% or 30 times in the last day, according to DEXScreener. When it last had a market value of almost $3 million, it had approximately $200,000 in frozen liquidity.
However, just because HDMI appears to be a harmless currency doesn't imply it isn't a fraud or an illicit trade of some kind. In the DEX markets, traders should always remember never to take on higher risks than they are willing to lose.
3. DOGGO
Doggo Inu (DOGGO), an Ethereum meme coin, is the last name on the list of the top cryptocurrency gainers today. Its market capitalization has increased by about 1,400% in the last four hours, and its liquidity is slightly more than $320,000. A Security investigation also found no alarming aspects of its smart contract.
Due to the fluctuation of on-chain DEX markets, traders are more likely to suffer from FOMO and make poor investment decisions.
