Blue chip cryptocurrency markets are experiencing mixed to modestly positive movements on Tuesday as traders remain cautious ahead of the highly anticipated US Federal Reserve’s interest rate decision on Wednesday. Bitcoin (BTC) has seen a 1.5% increase in the last 24 hours, trading around $27,200, with strong support above its 21-day moving average (DMA) at $26,200. Ether (ETH), on the other hand, is trading just under $1,650 and has managed to break above its 21DMA, indicating a potential positive shift in momentum for both cryptocurrencies.
Despite negative reports regarding Ethereum founder Vitalik Buterin and major whales transferring $60 million worth of holdings to crypto exchanges, Ether has not shown much response. This lack of reaction may be due to the announcement that crypto asset management giant Grayscale has applied for a new Ether Futures ETF.
However, ETH has fallen to its lowest level against BTC in over 14 months, as BTC continues to outperform it. With trading conditions expected to remain subdued before the key Fed meeting on Wednesday, traders are turning their attention to the shitcoin/meme coin markets in search of volatility opportunities.
One of the best-performing low-cap coins is PogeX ($POGEX), which has rallied nearly 500% on Tuesday, reaching a market cap of over $2 million. The token has gained nearly 500 holders and has over $300,000 in partially locked liquidity. PogeX claims to be the first centralized exchange focusing primarily on meme coins through spot and derivatives, positioning itself as the next big meme project.
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Another strong performer in the low-cap coin market is XMoon ($XMoon), which has seen a close to 300% increase from its DEX launch price. Although its market cap is just over $110,000, it has over $200,000 in liquidity. However, this liquidity is not locked, raising concerns about a potential rug pull scam.
Dark Forest ($DARK), an older shitcoin, is attempting to stage a comeback. It has seen a 150% increase in the last 24 hours, making it one of the best-performing low-cap coins. Despite trading around $0.07 per token, it is still significantly below its all-time high price of $1.17 in mid-August. The token has a market cap of around $350,000, with locked liquidity of just over $70,000.
While these shitcoin investments carry high risks, there is an alternative high-risk-high-reward strategy to consider – getting involved in crypto presales. This involves buying tokens of up-start crypto projects to help fund their development. These tokens are often sold at low prices and have a history of delivering exponential gains to early investors. However, it is crucial to thoroughly research these projects and evaluate their teams and visions before investing in their presales.
For investors interested in crypto presales, Cryptonews has compiled a list of 15 projects deemed as the best crypto presales of 2023. These projects are carefully vetted by the Cryptonews team, offering potential opportunities for high returns.
It is important to note that investing in crypto carries high risks, and this article is provided for informational purposes only and should not be considered investment advice. Always conduct thorough research and consider your risk tolerance before making any investment decisions.
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.
