The main reason is that a lot of these coins lack real utility, don’t have experienced teams backing them, don’t plan out their tokenomics wisely, and basically, their value hinges heavily on community support.
This has been the case for a new Solana-based meme coin dogwifhat, as it starts to lose its ground against the new competitor, Galaxy Fox ($GFOX).
What makes these two different? The article will talk about the main differences between these two meme coins and explain why $GFOX is one of the best meme coins to buy.
What you'll learn 👉
Why is dogwifhat Falling?
Dogwifhat ($WIF) is a meme coin that joined the Solana blockchain in November 2023. This project thrives on community engagement and has gained quite a following thanks to its straightforward and entertaining concept – a token featuring a dog wearing a hat.
A major factor in this coin’s success was the lively and entertaining community that quickly spawned around it. This, combined with Solana’s recent remarkable growth and the achievements of $BONK, another meme coin on the Solana blockchain, fueled investors’ hopes that $WIF would follow a similar path to success.
However, when market conditions turn bearish or new trends and projects emerge, things can shift, and that’s exactly what happened with dogwifhat. It turns out that having a coin with no real utility and basic tokenomics doesn’t hold up well when market conditions become less favorable, leading to a significant drop in its price. In the last 24 hours, $WIF dropped by 5%, and considering the volatile atmosphere around the crypto market, nothing seems to support its growth.
What about Galaxy Fox?
Meanwhile, Galaxy Fox seems to be learning from the mistakes of its ‘ancestors,’ building a project that’s not only a meme coin with utility and deflationary tokenomics but also a P2E token integrated into the engaging Web3 runner game.
This simple runner game alters the gaming experience for any background gamer and investor, giving them an equal chance to participate in weekly marathons and secure spots at the top of the leaderboard (20% of players on the leaderboard are rewarded from the Prize Pool).
Notably, the vast Galaxy Fox ecosystem also includes an NFT marketplace, a hub where players purchase attributes and boosters and increase their competitive edge inside the game.
That’s still not all – Galaxy Fox can be staked, too. Stargate is a reward pool that accumulates 2% from every purchase and sale and, later on, distributes it to long-term stakers.
And now a few words about tokenomics – only 5 billion of $GFOX tokens will ever be created, and the number will constantly be reduced with the burning methodology. This makes $GFOX the first scarce meme coin that actually cares for its future and aims to reward its loyal community long-term.
Besides dogwifhat, Galaxy Fox is outperforming some other popular meme coins, and its ICO success is an obvious indicator of this. The presale has already sold $3 million worth of tokens, giving the project a strong start once it launches. Also, early adoption is encouraged through a dynamic price model – The cost of $GFOX increases at each presale stage.
So far, 7 stages have passed, and 3 more are yet to come. Analysts are already ranking $GFOX as one of the top choices when it comes to the best meme coins to buy. So, if you’re interested in exploring something new and revolutionary beyond the usual top 10 altcoins, $GFOX might just be your best shot.
Galaxy Fox is clearly not only the best ICO crypto on the current market but also one of the best meme coins to buy. So, if you wish to be a part of something innovative that will grow and evolve, make sure to get involved today!
Learn more about $GFOX here:
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A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters