Top Crypto Gainers Today on DEXTools – PEPES, WOLF, BVM

cryptonews.com:

As Bitcoin (BTC) consolidates in the $68,000s as trading volumes drop off ahead of the weekend, traders are turning to the on-chain shitcoin markets in the hope of identifying top crypto gainers today.

Bitcoin briefly surpassed $70,000 for the first time on Friday. Ether (ETH) momentarily hit $4,000 for the first time since December 2021.

The major cryptos were boosted by strong continued inflows into spot Bitcoin ETFs, and by macro tailwinds.

Fed Chair Powell’s comments earlier this week that the Fed is close to becoming confident enough on inflation to start cutting interest rates have weighed on the US dollar and US yields this week as traders upped bets on rate cuts starting in June.

Those bets were further supported by US data on Friday which showed the US unemployment rate rising unexpectedly to 3.9%.

But Bitcoin and Ether have both since pulled back from earlier session highs.

As traders take profit on these coins, they are hunting for new opportunities to make a quick buck.

And there is no better place for that that the on-chain shitcoin markets.

Newly launched coins can frequently post gains of as much as 100x in one day.

Of course, the potential for massive gains also comes with the risk that traders could quickly lose everything.

Their illiquidity and volatility mean shitcoin markets aren’t for the faint-hearted.

Here are some of the top-performing coins on Ethereum, as per decentralized exchange analytics tool DEXTools.

A shitcoin called PEPESimpsons ($PEPES) is up around 75,000% on Friday, as per DEXTools.

But traders should beware that this coin appears to be a scam.

Its price chart looks very weird and manipulated.

And honeypot.io think it is a honeypot scam, as per DEXTools’ security audit.

This coin is almost certainly