The world of cryptocurrency is constantly evolving, with new trends and tokens emerging every day. One of the latest trends to take the spotlight on Thursday is the rise of AI-themed coins on DEXTools. Coins like Worldcoin (WLD), SingularityNET (AGIX), and Render (RNDR) have seen significant gains of 25-40% in just 24 hours. This surge in AI-themed tokens has attracted the attention of crypto degens, who use DEXTools to monitor the on-chain movements of meme coins and shitcoins.
The Allure of Micro-Cap Shitcoins
Micro-cap shitcoins have long been a favorite among crypto degens due to their potential for fast, exponential gains. While broader market conditions may impact the performance of these tokens, such as Bitcoin’s recent stagnation in the $51,000-53,000 range, meme coins continue to pump and dump on a daily basis. Despite the risks involved, investors are drawn to the allure of high-risk, high-reward investments in the on-chain shitcoin market.
Among the top crypto gainers on DEXTools today is BabySora ($BABYSORA), a newly launched meme coin inspired by OpenAI’s Sora product. The coin has skyrocketed by nearly 9,700% since its launch, with a market cap of around $1.6 million and over 250 holders. However, investors are warned to proceed with caution, as there is a possibility that BabySora could be a honey pot scam.
Onyx Protocol ($XCN), a peer-to-peer lending platform, has also experienced a significant surge of 800% on Thursday. With a market cap of $400,000 and 13,500 holders, the token has seen impressive trading volumes of $4 million in the past 24 hours. While Onyx Protocol has been around for almost a year and is less likely to be a scam, investors should still exercise due diligence before investing.
Another AI-themed shitcoin making waves on DEXTools is SORAFI ($SORAFI), which has seen a 700% increase in value. With a market cap of $240,000 and liquidity of $175,000, SORAFI is a newly launched coin that carries inherent risks. Newly launched coins are often susceptible to pump and dump schemes or scams, making them a risky investment choice for crypto degens.
Risks of Investing in Low-Cap Shitcoins
It is important for investors to be aware of the risks associated with investing in low-cap shitcoins. While these tokens may offer the potential for high returns, they also come with a high degree of risk. An innocent-looking project could turn out to be a scam, and a few large sell orders could cause the price to plummet by 80% or more. It is crucial for investors to conduct thorough research and exercise caution when diving into the world of meme coins and shitcoins.
For those seeking a potentially less risky investment strategy, getting involved in crypto presales may offer a better risk-reward ratio. By participating in presales, investors can secure tokens of up-and-coming crypto projects at a discounted early price. While there are risks involved in presale investments, savvy investors have been able to secure gains of 10x or more. With hundreds of presale projects on the market, it is important for investors to carefully analyze and assess the potential of each project before committing their funds.