Major blue-chip crypto prices are under modest pressure on Monday, with Bitcoin (BTC) recently dipping below $29,000 once again and eyeing a retest of monthly lows, and Ether (ETH) testing the $1,800 and eyeing a retest of its 200DMA.
There doesn’t seem to be any news driving the bearish price action, with traders likely booking some profit ahead of the release of the highly anticipated monthly US Consumer Price Index inflation report later in the week.
Importantly though, Bitcoin and Ether are both nearing a retest of their 2023 uptrends, a break below which could signal a bearish shift in the market’s near-term momentum, even if fundamental catalysts don’t warrant a move lower.
With blue chip cryptos under pressure, crypto traders looking for a better prospect of near-term gains continue to turn to the meme coin/shitcoin market.
Here are some of Monday’s best performers as per DEX Tools.
科太币 (科太币)
A coin called 科太币, which means Tether in Chinese, has been exploding higher in the past three days and, as per DEXTools, was up north of 900% in the last 24 hours.
At the current price of $0.000000013, xxx is now up a staggering 2600x versus its decentralized exchange (DEX) launch price of $0.000000000005.
Its total market cap is currently around $5.5 million, with over 2,800 holders and around $400,000 in liquidity, though this liquidity isn’t locked, so traders should be wary of a possible rug pull.
科太币’s contract has been verified by GoPlus on DEXTools, and they have identified one alert – the contract has a function that allows the creator to limit the maximum amount of transactions or the maximum token position for a single address.
That means any degens wanting to jump into 科太币should be aware that they could easily lose everything if the token’s issuer wanted to place limits on their wallet.
科太币thus remains a highly risky bet.
Toshi (TOSHI)
Cat-themed meme coin Toshi launched earlier in the day and has seen a massive pump in the last few hours.
It was last trading around $0.0000009, up 6x versus its DEX launch price of closer to $0.00000013, and now has a market cap of around $190,000, with 24-hour trading volumes of also close to $200,000.
The token has nearly $200,000 in liquidity, though this isn’t locked, and just over 200 holders.
As per DEXTools, GoPlus have identified no concerning aspects to the token’s contract though whether it has a buy or sell tax is as of yet unknown.
Kitty (KITTY)
Another cat-themed meme coin called Kitty has also been getting some traction on Monday.
Kitty has been gliding higher since its launch two days ago, gaining over 400% in the last 24 hours, as per DEXTools.
Its market cap was last around $120,000, with around $90,000 in trading volumes over the past 24 hours.
Traders of this coin should beware of its very low liquidity of only around $20,000 and the token issuer’s ability to potentially place limits on transactions, as identified by GoPlus in their contract audit.
Evil Pepe (EVILPEPE)
Evil Pepe has been making a strong comeback since bottoming out over the weekend at around $0.00007 per token.
EVILPEPE was last around $0.00035, up 5x versus these recent lows and up nearly 300% in the last 24 hours.
The token is eyeing a potential retest of its all-time highs hit last week in the $0.0006 area and could be setting up for a big pump.
The token’s market cap is currently around $2.3 million, with around 3,200 holders and nearly $700,000 in trading volumes in the past 24 hours.
Importantly, Evil Pepe has locked liquidity of nearly $500,000, meaning traders don’t need to worry about a possible rug pull.
Moreover, the token has a 99/99 DEXTscore and GoPlus have identified no problems with the tokens contract, meaning it almost certainly isn’t a scam coin.
With variations of the Pepe Coin having done well in recent months, Evil Pepe is a good candidate to pump.
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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