Bitcoin (BTC) is consolidating in the $26,600s on Friday, roughly in line with where it started the week as traders digest recent macro developments, like a further push higher in US yields to new multi-year/decade highs in wake of this week’s hawkish leaning Fed policy announcement.
The world’s largest cryptocurrency by market capitalization remains wedged close to the middle of a multi-week $24,750-$28,500ish range as markets assess the evolving macro backdrop (financial conditions remain tight) and themes such as institutional adoption and US crypto regulatory policy.
Ether (ETH), meanwhile, hasn’t been holding up so well and was last trading just under $1,600, over 2% down on the week, following this week’s failure to push back above the 21DMA, which has been acting as strong resistance in recent months.
Ether bears continue to eye a potential retest of summer lows underneath $1,550.
Subdued trading conditions in major blue chip crypto markets mean that traders continue turning to shitcoin and meme coin markets in the hunt for volatility.
Here are some of the best-performing low-cap coins, as per DEXTools.
The Bear ($BEAR)
A new shitcoin called The Bear ($BEAR) that only launched a few hours ago has seen an explosive start to life.
As per DEXTools, $BEAR is already up around 300% versus its DEX launch price and has already been able to attain a market cap of over $330,000 amid $1.6 million in trading volumes.
The token has over $300,000 in locked liquidity and no concerning aspects to its token contract, as per DEXTools’ security audit, suggesting the token probably isn’t a scam.
A shitcoin that launched on Thursday called Calcium ($CAL) has seen a big pullback from yesterday’s highs.
$CAL was last trading around $0.0045 per token, down from as high as $0.017 on Thursday.
However, its price remains higher by over 340% in the past 24 hours, making it one of the best performers, as per DEXTools.
Its market cap was last just over $900,000 amid $5.7 million in 24-hour trading volumes, with the token having now managed to accumulate more than 1,700 holders.
The token has $130,000 in unlocked liquidity, which means it could still be a rug pull.
But the token has no concerning aspects to its contract, as per the DEXTools security audit.
A shitcoin called $MANE that launched earlier in the day is pulling back from its earlier highs.
$MANE was last around $0.0047, having hit highs earlier in the session around $0.008 amid trading volumes of $1.9 million so far on the day.
Its market cap was last around $470,000, with the token having accumulated over 400 holders.
$MANE has nearly $100,000 in partially locked liquidity and has 5 contract alerts, as per the DEXTools security audit, which include that the token’s transaction tax (currently 0%) may be modifiable and that transfers might be pausable.
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.