Bitcoin (BTC) has experienced a week of consolidation, with its price hovering in the $26,600 range. This level is consistent with where it began the week as traders analyze recent macro developments. One of these developments is the push for higher US yields, with rates reaching multi-year or even decade highs following the hawkish leaning Fed policy announcement.
As the world’s largest cryptocurrency by market capitalization, Bitcoin is currently trading within a range of $24,750 to $28,500. The market is closely monitoring the evolving macro backdrop, including tight financial conditions, institutional adoption, and US crypto regulatory policy.
On the other hand, Ether (ETH) has not fared as well and is currently trading just below $1,600. This represents a decrease of over 2% for the week. Ether’s failure to rise above the 21-day moving average (DMA), which has acted as a strong resistance in recent months, has led to concerns among bears who predict a potential retest of summer lows below $1,550.
With major blue-chip crypto markets experiencing subdued trading conditions, many traders are turning to shitcoin and meme coin markets in search of volatility. DEXTools have identified some of the best-performing low-cap coins in these markets.
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One such coin is The Bear ($BEAR), which launched just a few hours ago but has already witnessed explosive growth. According to DEXTools, $BEAR has surged around 300% compared to its initial launch price on DEX. It has achieved a market capitalization of over $330,000 with trading volumes reaching $1.6 million. The token has also secured over $300,000 in locked liquidity and has undergone a security audit by DEXTools, indicating that it is likely not a scam.
Another notable shitcoin is Calcium ($CAL), which was launched on Thursday but has experienced a significant pullback from its previous highs. Despite this, $CAL is still up over 340% in the past 24 hours, making it one of the best performers according to DEXTools. It has a market capitalization of just over $900,000 and has accumulated more than 1,700 holders. However, there are concerns about its liquidity, as it has $130,000 in unlocked liquidity, which may indicate a potential rug pull. Nevertheless, DEXTools security audit suggests no concerning aspects to its token contract.
MANE ($MANE) is another shitcoin that launched earlier in the day but has since retraced from its initial highs. It is currently trading around $0.0047, having reached $0.008 at its peak. Trading volumes for $MANE have reached $1.9 million, and it has achieved a market capitalization of approximately $470,000. The token has over 400 holders and nearly $100,000 in partially locked liquidity. However, the DEXTools security audit highlights five contract alerts, including the modifiability of the token’s transaction tax and the possibility of pausable transfers.
While shitcoins are considered risky due to their lack of a real value proposition, there is an alternative high-risk-high-reward investment strategy worth considering: crypto presales. Investors can participate in presales by purchasing tokens from up-and-coming crypto projects to help fund their development. These tokens are typically sold at low prices and have historically delivered significant gains for early investors. However, it is essential for investors to carefully research these presale projects and identify those with promising teams and revolutionary crypto applications/platforms.
Cryptonews has compiled a list of 15 crypto presales that they deem as the best for 2023. These projects have undergone extensive analysis to provide investors with potential opportunities for high returns. However, it is crucial to remember that crypto investments are high-risk assets, and this article is for informational purposes only and should not be considered investment advice.
In conclusion, Bitcoin is consolidating within a specific range, and traders are closely monitoring macro developments. The performance of Ether has been less impressive, and there is a focus on shitcoin and meme coin markets for volatility. DEXTools has identified some of the best-performing low-cap coins, such as The Bear ($BEAR), Calcium ($CAL), and MANE ($MANE). Additionally, investors can explore the risky yet potentially rewarding world of crypto presales for investment opportunities.
