{"id":55924,"date":"2023-09-01T19:36:30","date_gmt":"2023-09-01T23:36:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/biggest-crypto-gainers-today-on-dextools-parrot-anubis-soju\/"},"modified":"2023-09-01T19:36:33","modified_gmt":"2023-09-01T23:36:33","slug":"biggest-crypto-gainers-today-on-dextools-parrot-anubis-soju","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55924","title":{"rendered":"Biggest Crypto Gainers Today on DEXTools \u2013 PARROT, ANUBIS, SOJU"},"content":{"rendered":"
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Bitcoin exchange inflows have reached one-month highs according to data from Glassnode, signaling increasing selling pressure as the price of Bitcoin has fallen below $26,000.<\/p>\n

The one-day moving average of bitcoin’s exchange net flow reached $9.75 million on August 16, marking the highest level seen in the past month.<\/p>\n

Glassnode also reported that the amount of bitcoin sent to exchanges recently hit a 4-month high of approximately 370 BTC.<\/p>\n

Despite Bitcoin’s price dipping under $26,000, some cryptocurrencies are making gains. What are the biggest crypto gainers today on DEXTools?<\/p>\n

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The metric is designed to monitor the cumulative transfer of Bitcoin to and from wallets that belong to centralized exchanges.<\/p>\n

A high positive figure indicates growing reserves on exchanges, which typically precedes periods of selling activity.<\/p>\n

Bitcoin has fallen over 20% from highs of around $28,000 last week, erasing gains made following a court victory by Grayscale over the SEC regarding a bitcoin spot ETF.<\/p>\n

The decline comes as the SEC postponed decisions on several bitcoin ETF applications that were anticipated on Friday, September 1.<\/p>\n

According to analyst Ki Young Ju of CryptoQuant, bitcoin velocity recently hit a 3-year low, suggesting that long-term holders are inclined to sell at current levels. The Average Dormancy metric has also risen, meaning more older coins are being spent.<\/p>\n

“Although the current price is below the 2021 all-time high, it\u2019s evident that long-term bitcoin holders are capitalizing on the surge and changing hands,” said Ju.<\/p>\n

“The market psychology is atrophied, the turnover rate has fallen, and the old hands are changing hands – it seems to be a difficult condition for a strong rise right now.”<\/p>\n

Bitcoin is currently trading around $25,800, down over 60% from its all-time high of nearly $69,000 in November 2021.<\/p>\n

Some analysts say further declines may occur if inflows to exchanges remain elevated.<\/p>\n

With bitcoin exchange flows indicating selling pressure, some traders may want to rotate into altcoins with stronger technicals.<\/p>\n

PARROT, ANUBIS, and SOJU are some of the biggest crypto gainers today on DEXTools, posting significant surges despite Bitcoin’s lackluster price performance.<\/p>\n

PARROT Takes Flight: Soaring 1,490.71% – Will the Meme Coin Resurge?<\/strong><\/h2>\n

PARROT has emerged as one of the top gainers today, posting a rise of 1,490.71% as of writing.<\/p>\n

After achieving a noteworthy high with an almost 4,200% increase, the meme coin has weathered some selling pressure, which has brought its price down to the current level of $0.0000005557.<\/p>\n

As PARROT hovers around its earlier support zone, anticipation builds over a potential resurgence or an additional downturn.<\/p>\n

Looking at the 15-minute technical indicators for PARROT, the 20 EMA currently stands at $0.0000007055, while the 50 EMA is at $0.0000006387.<\/p>\n

Both these figures are above the current price, suggesting a bearish trend in the short term.<\/p>\n

The RSI currently stands at 40.82. Typically, an RSI below 30 indicates oversold conditions, while an RSI above 70 signals overbought conditions.<\/p>\n

The current RSI for PARROT sits in a neutral zone, suggesting a balance between buying and selling pressures.<\/p>\n

The immediate support level, as indicated by the Fibonacci retracement level of 0.236, sits at $0.0000005466. If the price dips below this level, it could signal a continuation of the bearish trend.<\/p>\n

On the upside, a horizontal resistance zone has been established between $0.0000006045 and $0.0000006398. This zone coincides with the Fib 0.382 level at $0.0000005998 and Fib 0.5 level at $0.0000006428 respectively.<\/p>\n

If the price of PARROT can break through this resistance zone, it could trigger a bullish reversal, potentially leading to further gains.<\/p>\n

Traders are advised to exercise vigilance and observe how PARROT behaves at these critical support and resistance levels.<\/p>\n

Depending on whether it can maintain support or break through resistance, we could see a continuation of the current bearish trend or a potential bullish reversal.<\/p>\n

ANUBIS: Bearish Trend Ahead? Key Indicators Suggest Caution<\/strong><\/h2>\n

Following yesterday’s surge of nearly 1,300%, ANUBIS continues to chart an upward trajectory with an additional gain of 68.13% so far today.<\/p>\n

However, since reaching an intraday high of $0.0001839, the cryptocurrency has seen a retracement to the current level of $0.0001330 and seems to be trading sideways in recent hours.<\/p>\n

This has led to speculation among traders and market analysts of a potential bearish trend emerging.<\/p>\n

The 15-minute technical indicators for ANUBIS show the 20 EMA at $0.0001386, slightly above the current price, and the 50 EMA at $0.0001323, just below the current price.<\/p>\n

The 100 EMA is further down at $0.00010774, indicative of the cryptocurrency’s previous lower trading range.<\/p>\n

This close trading of the 20 and 50 EMA might suggest a bearish crossover could be on the horizon, which would be a signal for traders to potentially brace for a downturn.<\/p>\n

The RSI is presently at 45.49. This is well within the neutral zone (30-70), highlighting the market’s current indecision. In this context, the RSI indicates a balanced market, not tilting heavily towards either the bulls or the bears.<\/p>\n

The immediate resistance for ANUBIS lies at the 15-minute 20 EMA of $0.0001386.<\/p>\n

Following this, the next significant barrier for the bulls to overcome would be the horizontal resistance zone of $0.0001496 to $0.0001526. This area could pose a challenge, as it would require a strong buying momentum to break through.<\/p>\n

On the flip side, immediate support can be found at the horizontal support levels of $0.0001291 to $0.0001336.<\/p>\n

This range aligns closely with the 15-minute 50 EMA of $0.0001323, which could act as a safety net if the price faces downward pressure.<\/p>\n

Despite the impressive gains in the last two days, the close proximity of the 20 and 50 EMAs, combined with the current sideways trading pattern and neutral RSI, point towards a potential bearish outlook for ANUBIS.<\/p>\n

Traders are advised to keep a close eye on these key technical indicators and prepare for a possible shift in market sentiment.<\/p>\n

SOJU: From 5,450% Surge to Consolidation – What’s Next?<\/strong><\/h2>\n

Today’s DEXTools crypto trading narrative has been dominated by SOJU, which is witnessing a surge of 1,674.24% so far today.<\/p>\n

At one point during the frenzied trading, it catapulted by a massive 5,450%, notching an intraday high of $0.009952.<\/p>\n

Following this dramatic surge and a period of retracement, SOJU is now consolidating above a horizontal support zone that lies between $0.003532 to $0.003829.<\/p>\n

The 5-minute chart offers insightful details into SOJU’s price action. The 20 EMA currently lies at $0.003988, slightly above the current price.<\/p>\n

Meanwhile, the 50 EMA stands at a slightly higher level of $0.004485. These EMAs are considered crucial indicators of short-term market sentiment, and their positioning suggests a mild bearish bias, given that the current price is below both these levels.<\/p>\n

However, traders should note that the Relative Strength Index (RSI), currently at 47.19, indicates a neutral market condition. This implies that the SOJU’s price has room to maneuver in either direction.<\/p>\n

The immediate resistance for SOJU lies at the 20 and 50 EMAs of $0.003988 and $0.004485, respectively.<\/p>\n

A break above these EMAs could see the price test the next horizontal resistance zone, between $0.004665 and $0.005073.<\/p>\n

On the flip side, should SOJU’s price dip, the immediate support level to watch is the aforementioned horizontal zone between $0.003532 and $0.003829.<\/p>\n

A successful hold at this level could provide a solid base for SOJU to stage another rally. Traders are advised to closely monitor SOJU’s price movements in relation to the EMAs and the RSI.<\/p>\n

A potential bullish scenario could be a break above the 20 and 50-period EMAs, which could pave the way for further upside. Conversely, a drop below the current support zone could signal a temporary pullback.<\/p>\n

Other Cryptocurrencies to Consider<\/strong><\/h2>\n

For those engaged in cryptocurrency investments and looking to diversify their holdings, it might be advantageous to participate in presales of promising new cryptocurrency ventures.<\/p>\n

This method allows investors to gain early access to tokens at significantly reduced prices compared to the proposed initial public offering price.<\/p>\n

Although it carries a certain level of risk, investing in presales of projects that eventually prosper post-launch can yield significant profits.<\/p>\n

Numerous presale tokens are supported by proficient founding teams and showcase pioneering ideas that could radically change the blockchain industry.<\/p>\n

Spotting these potential game-changing projects early on and obtaining tokens during the presale phase offers considerable growth potential if the venture thrives post-launch.<\/p>\n

However, the risks are just as substantial. If the project teams fail to execute their strategies, presale investors could face financial losses.<\/p>\n

Despite everything, the gains could be extraordinary if a presale investment turns out successful.<\/p>\n

The market analysts at Cryptonews.com utilize their sector expertise and experience to assess upcoming presales and pinpoint notable opportunities based on the team’s proficiency and the project’s unique offering.<\/p>\n

After a rigorous evaluation, they have curated a list of presale offerings that demonstrate immense potential due to the skill of their teams and the novelty of their ideas.<\/p>\n

For cryptocurrency investors who are willing to take on higher risk, participating in these carefully chosen presales could potentially provide profitable investment opportunities in 2023 and beyond.<\/p>\n

New Cryptocurrencies to Buy In 2023<\/p>\n

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.<\/sub><\/i><\/p>\n<\/p><\/div>\n