Biggest Crypto Gainers Today on DEXTools – SHIBARIUM, SNAKE, CBot

cryptonews.com:

Altcoins have been selling off on Tuesday, with the likes of XRP, Dogecoin (DOGE), Cardano (ADA), Solana (SOL), Polkadot (DOT) and Polygon (MATIC) falling between 4-7% over the course of the last 24 hours.

The combination of a continued steady crawl higher in long-dated US government bond yields to fresh yearly highs, plus continued poor risk appetite in the US stock market with the S&P 500 now at more than one-month lows, is probably weighing on sentiment.

Bitcoin (BTC) was last trading around three-quarters of a percent lower on the day in the $29,100s, while Ether (ETH) was last trading down close to 1% on the day near $1,830.

Earlier US Retail Sales data for July was stronger-than-expected, doing little to alter narratives that the US economy remains a long way from falling into recession, which is arguably crypto-positive, as long as it doesn’t lead to expectations for more Fed rate hikes.

Broadly, while altcoins have been falling, the big blue-chip names remain stuck within recent ranges and trading conditions remain somewhat boring as traders await catalysts like Wednesday’s FOMC Meeting Minutes release and a possible judge ruling on Grayscale’s lawsuit versus the SEC over their rejection of the former’s spot Bitcoin ETF application last June.

Traders looking for the prospect of quick gains thus continue to turn to the shitcoin/meme coin markets in droves in the hunt for the next 10 or 100x token.

Here are some of the best-performing coins on Tuesday, as per DEXTools.

As hype surrounding the upcoming launch of the alpha version of the Shiba Inu ecosystem’s Ethereum layer-2 scaling blockchain Shibarium grows in light of the success of its beta testnet, various shitcoins are trying to piggyback off of the Shiba Inu