Major cryptocurrencies are trading with a modestly positive bias on Monday, with the likes of Bitcoin (BTC) up close to 1% in the last 24 hours, and Ether (ETH) slightly in the green, with both still stuck within recent ranges.
Volatility levels remain stuck at historic lows, with Bitcoin near $29,500 and Ether still close to $1,850, as markets await more clarity on themes such as US regulation and spot Bitcoin ETF approvals.
The macro landscape probably won’t provide much by way of catalysts this week, with Tuesday’s US Retail Sales data and Wednesday’s FOMC Minutes release unlikely to change narratives that the US economy remains robust and that the Fed’s aggressive tightening cycle is likely now down, with a few rate cuts coming next year.
Whilst the broader market remains quiet, illiquid meme coin/shitcoin markets remain volatile, as usual.
Here are some of the best performers, as per DEXTools.
spurdo (SPURDO)
A shitcoin called spurdo (SPURDO) that was launched on Sunday has continued pumping into Monday.
Last just above $0.00000005, SPURDO has a market cap of around $3.75 million, with over $3 million in trading volumes in the past 24 hours and over 1,150 holders.
The shitcoin is up a stunning 2,000x versus its Sunday Decentralized Exchange (DEX) launch price of $0.000000000025.
DEXTools’ GoPlus token contract security audit has revealed two alerts (potential limits on transaction numbers and a potential trading cooldown) and the token has a 1% buy and sell tax.
Liquidity, at just over $210,000, isn’t locked, meaning rug pull risks remain.
Foom (FOOM)
A shitcoin called FOOM is up 300% on Monday, making it one of the best performers in the shitcoin market.
FOOM has been around now for a while, and is up more than 600% from its earlier monthly lows in the $0.000000011 area, given it was last trading around $0.000000078.
As per DEXTools’ GoPlus security audit, there is only one concerning aspects to the token contract, no buy or sell tax and over $4 million in liquidity, though this isn’t locked.
The token’s market cap was last around $14 million, with nearly $12 million in trading volumes in the past 24 hours and 1,100 holders.
Farmer Friends (FRENS)
A shitcoin called Farmer Friends (FRENS) has been pumping in the last few hours.
FRENS was last up around 300% on the day in the $0.016 area and eyeing a retest of record highs in the $0.02-3 range.
FRENS has a market cap of around $1.5 million, $180,000 in volumes in the past 24 hours and around $220,000 in locked liquidity.
However, as per DEXTools, GoPlus has identified four concerning aspects to the token’s contract, so meme coin degens should be very careful as the token could be a scam.
Crypto Alternatives to Consider
Shitcoins are very risky, given most have no real value proposition.
For those looking for an even better probability of near-term gains, an alternative high-risk-high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of up-start crypto projects to help fund their development.
These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
See the 15 Cryptocurrencies
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.
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