Top Crypto Gainers Today on DEXScreener – RWIF, DUMB, GME
Trading conditions were broadly bearish on Tuesday as traders focused on a hotter-than-expected US PPI report and commentary from Fed Chair Jerome Powell, with traders having to turn to the on-chain meme coin markets in the hunt for top crypto gainers today.
Bitcoin (BTC) and Ether (ETH) were both down around 2% in the past 24 hours, as per CoinMarketCap.
Focus in the market has now mostly shifted to Wednesday’s release of US CPI and Retail Sales data.
This could be a major market catalyst depending on how it impacts Fed rate cut bets.
One reason why Bitcoin and Ether, last at $61,500 and $2,880 respectively, are down substantially from earlier yearly highs is that the US economy has remained hotter than expected this year.
Please US CPI, be merciful to us sinners! pic.twitter.com/ejX8jR99bB
— Daniel Cunha (@cunhans) May 15, 2024
Traders will be hoping for evidence that the rise in price pressures seen in recent months is beginning to reverse.
That could come as a relief to the market. But even if a bounce is incoming, major cryptos mostly remain tightly locked within recent ranges.
Big moves are unlikely to come in anytime soon. The same can not be said for the highly illiquid on-chain crypto markets.
Indeed, these markets were set alight this week by GameStop icon Roaring Kitty’s abrupt return.
Meme coins in honour of the 2021 meme stock craze leader have been spring up left, right and center.
Here are some top crypto gainers today as per Decentralized Exchange (DEX) analytics tool DEXScreener.
A recently launched Solana meme coin called Roaring Kitty Wif Hat (RWIF), a combination of popular meme coin dogwifhat and Roaring Kitty, is ripping higher since its launch.
As per DEXScreener, it was last up 95,000% in the past 24 hours.
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