Another round of memecoin mania? dogwifhat ($WIF) and Bonk ($BONK) recover lost ground, but Solana ($SOL) memecoins still weak overall. Are market leaders signaling a trend reversal? Galaxy Fox’s ($GFOX) presale rages above $2.5 million, and increased appetite for presales and memecoins leaders does suggest that a fresh round of speculation will break out in the coming weeks. If the local bottom is already in, what are the top 5 cryptos to invest in before the next wave? Will another $BONK-like rally occur?
dogwifhat ($WIF) and Bonk ($BONK) Recovery Rally
Bonk saw a rally eerily reminiscent of Shiba Inu ($SHIB) late last year, and for anybody early to the trade, it was the top crypto to buy in the last quarter of 2023. dogwifhat made a similarly impressive rally through December, and for the first time in crypto’s history, the bulk of memecoin trading was taking place on Solana.
But the fun did not last long, and both suffered heavy retracements, with $BONK suffering a 75% drawdown and $WIF wicking down more than 85%. However, dogwifhat and Bonk appeared to reach local bottoms on the 7th of January and have been trending upward since. $WIF and $BONK are reclaiming lost ground, and despite the broader memecoin market looking weak on Solana, a sustained upward trajectory could be on the cards for these tokens.
Weakness for Solana memecoins is rocket fuel for Bonk and dogwifhat as liquidity consolidates and flows back to market leaders. But all an investor has to do is pull up a chart of any superstar memecoin and realize there is usually only ever one blow-off top. Despite this recovery, market participants have more fertile options. Galaxy Fox being an obvious contender.
Galaxy Fox ($GFOX) Rages Past $2.5 Million
Galaxy Fox is breezing through its presale and moving rapidly through each stage. Currently in stage 6 (already 98% filled), soon there will be a 15% price leap as it transitions to stage 7. The launch gets closer and closer, and the window of opportunity to become an early $GFOX adopter is closing. Set to enter open markets in bullish sentiment is a massive boon and post-TGE, all protocol mechanisms will go live.
Presale participants will immediately be able to stake their tokens in the Stargate module- the ecosystem’s rewards hub. Staking rewards will start flowing, and all price discovery will feed these payouts thanks to $GFOX’s buy and sell taxes. The token burn will begin, and $GFOX will have a down-only total supply post-launch. Again, thanks to the taxation system, $GFOX suffers no inflationary token emissions, giving early holders another significant advantage. No dilution and earning passive income right off the bat! $GFOX’s position as one of the top 5 cryptos to invest in makes perfect sense.
The play-to-earn element cannot be missed, and players will compete globally on a Web3 runner game to finish the season in the top 20%. These skilled players will earn rewards at the end of each season, and within this ecosystem, players can even purchase NFTs to upgrade their in-game stats. Galaxy Fox’s impressive offerings explain its early success in fundraising, and its GameFi/ memecoin crossover positioning could make it the top crypto to invest in this year.
Closing Thoughts: Q1 2024 Memecoin V2?
Investors are eager for speculation, and risk-taking behavior is on the increase. Macro conditions look great, and risk-taking pays big dividends in this environment. The exact backdrop that makes a memecoin mania V2 incredibly likely to happen this quarter. Regarding returns, all the top 5 cryptos to invest in now are memecoins and presales.
Presales like Galaxy Fox launching in these buoyant conditions will enjoy explosive price discovery rounds, and $GFOX’s current price is a steal. Its value proposition will unfold this quarter, and retrospectively, participating in this ICO will be seen as a no-brainer. Join today and be early to the next 100X memecoin.
Learn more about $GFOX here:
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