Anxiety over the anticipated approval (and possible rejection) of a spot Bitcoin ETF caused a sudden decline in the price of Bitcoin. In light of this, the whole cryptocurrency ecosystem gave in to sell pressure. And as a result, more volatile cryptos like $BONK witnessed a significant decrease. Meanwhile, $GFOX, the native token of Galaxy Fox, has surpassed $2.3 million. Here are some reasons to add this token to your portfolio, since it is predicted to outperform many other well-known memecoins.
$BONK falls by 20%; Will It Bounce Back?
After a promising start, $BONK has dropped by 20%. $BONK is the third largest meme coin by market cap after Dogecoin and Shiba Inu. Price action on $BONK is closely linked to Solana (SOL) and Solana’s (SOL) fortunes have also been unstable.
$BONK was last trading at around the level of $0.0000135, as traders try to see whether the Solana-based meme coin will be able to consolidate above key support at the level of $0.0000125.
This means that compared to the mid-December highs that ran above $0.000035, $BONK has dipped by over 60%. Having said this, $BONK’s price action over the last couple of weeks paints a rather pessimistic picture. Therefore, in the short-term, $BONK price predictions are bearish. However, with a market cap of $820 million, long-term investors have no cause for worry as there is still room for 10x growth.
With Continued Success in its Presale, Galaxy Fox Soars Beyond $2.3 million
Galaxy Fox’s presale has continued to grow by leaps and bounds. This unique meme coin has been the center of attraction as more investors scurry to get the best cheap crypto to buy. Investors spot a chance in this meme coin to turn their investments into massive returns by the end of the series.
The broader crypto market bull-run is in its early stages, having started just over a few months ago, and this gives $GFOX plenty of room to pump after its presale series. Analysts cite the case of other meme coins such as Dogecoin ($DOGE) and Shiba Inu ($SHIB) which reached market caps in the tens of billions in 2021 and see $GFOX doing something similar.
Galaxy Fox combines the best of both worlds of meme coins and GameFi. At the heart of the ecosystem is a Web3 endless runner game that is immersive, entertaining and very rewarding. For example, there is a revenue share for the top 20% of players each season funded by in-game purchases.
There is a maximum of five billion $GFOX tokens in supply. Tokens are distributed towards liquidity, ecosystem development, and rewards. This gives an assurance that the project succeeds far into the future. Again, the token burn mechanism strategically makes tokens more valuable over time by reducing the number of tokens in circulation. Now at stage six of the presale, over $2.3 billion $GFOX tokens have already been sold.
Conclusion
Even though $BONK witnessed a sharp price decline, there is still a long way to go in the current bull-run. Thus while the short term sentiment is bearish, there is a great chance for a comeback and investors can still get 10x returns or more. On the other hand, Galaxy Fox has performed beyond expectations and based on its unique fundamentals, experts believe it can do 50x by the time it get listed on exchange platforms.
Don’t miss out on juicy returns. Join the smart investors and lock in your position in the Galaxy Fox presale. By buying $GFOX tokens today, you would get a 15% discount! visit the website and join the Telegram community to get started.
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