Bitcoin (BTC) recently experienced a brief dip below $26,000 for the first time in over a week. Although it has since recovered to around $26,200, it has been unable to regain its position above its 21-day moving average (21DMA). This lack of upward momentum is reflective of Bitcoin’s overall bearish trend. As a result, it is projected to end Q3 with losses of approximately 15%. One factor contributing to this decline is the rise in US government bond yields, which reduces the appeal of non-yielding assets like Bitcoin.
Ether (ETH), the second-largest cryptocurrency, is also trading below its 21DMA, signaling a bearish market sentiment. It is currently priced just below $1,600. Looking ahead, the most significant macro event to monitor is the release of US Core PCE Inflation data on Friday. This data is crucial as it serves as the Federal Reserve’s preferred measure of inflation.
Considering the anticipated quietness in the crypto market before the release of the inflation data, traders may turn to the market of low-cap coins in search of short-term gains. These coins, often referred to as “shitcoins” or “meme coins,” have the potential for significant price fluctuations. Here are some of the top-performing low-cap coins identified by DEXTools, a platform that provides insights and analysis for decentralized exchanges.
GeneraitivAI ($GIA) is experiencing a significant price increase since Sunday. This coin claims to be a community-driven AI platform that rewards AI contributors for their efforts. According to DEXTools, $GIA has gained nearly 100% in the past 24 hours and is poised to reach its previous all-time highs in the $0.40s per token. It currently has a market cap of over $2.5 million, with locked liquidity amounting to over $530,000. However, it is worth noting that $GIA’s token contract has some concerning aspects, including a modifiable 5% buy and sell tax, as well as functions that allow unfair interference with trade.
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ZkTsunami ($:ZKT) is another low-cap coin that has experienced a 50% pump on Monday. This platform aims to provide transactional anonymity through ZK-AnonSNARK technology. Currently, $:ZKT has a market cap of nearly $2.0 million, with locked liquidity totaling $240,000 and a substantial number of holders. However, caution is advised before investing in $:ZKT as its token contract also presents concerns, such as a 4% buy and sell tax, and the potential for unfair trade interference. Additionally, it has a 60% upvote record based on DEXTools’ community trust score.
Prophet ($PROPHET) is a new shitcoin that has gained nearly 50% in value on Monday. The project claims to offer prediction market capabilities. With a market cap of close to $2 million and almost 1,200 holders, $PROPHET exhibits strong price performance. However, it shares similar concerns with other low-cap coins, such as a 5% buy and sell tax that can be modified and functions that enable unfair interference with trade. Furthermore, $PROPHET has a 55% downvoting rate on DEXTools, indicating potential risks associated with investing in this coin.
While these low-cap coins may present opportunities for near-term gains, they are inherently risky due to their speculative nature. For individuals seeking even higher-risk, higher-reward investments, participating in crypto presales can be an alternative strategy. In presales, investors purchase tokens from emerging crypto projects to contribute to their development. These tokens are typically priced at a discount, and history has shown that presale investments have the potential for significant returns. However, it is essential to thoroughly research and identify promising projects with strong teams and visions.
Cryptonews has compiled a list of what they consider to be the best crypto presales of 2023, consisting of 15 projects. This list can serve as a starting point for investors interested in exploring presale opportunities.
It is crucial to note that cryptocurrency is a highly volatile asset class, and investing in it carries substantial risks. The information provided in this article is for informational purposes only and should not be construed as investment advice. Investors must be aware that there is a possibility of losing all their capital.
