The values of the leading memecoins Shiba Inu ($SHIB) and Pepe ($PEPE) have declined recently. This trend has been shared by the broader memecoin market. This lack of momentum has caused the market cap of the memecoin sector to decline.
Galaxy Fox ($GFOX) has defied the bearish outlook of the meme coin market. The project has remained bullish and has hit the $350K milestone. Let’s find out why $GFOX is the cryptocurrency to buy now.
What you'll learn 👉
Major Meme Coins Struggle With Momentum
The cryptocurrency market recently recorded a surge of interest as prices across the board spiked. While the prices of the best altcoins increased, major memecoins Shiba Inu and Pepe faced a decline in momentum. $SHIB and $PEPE were ranked as the best memecoins to buy earlier in the year.
The decline has stunned many $SHIB holders as the Shiba Inu network has hit some recent milestones. Firstly, the number of non-zero $SHIB addresses has soared above 1.26 million, an increase of approximately 15,000% since February 2021.
In addition, the number of long-term $SHIB holders has soared to a new high. These are bullish signs that are expected to cause an increase in the price of Shiba Inu. Despite this, $SHIB has struggled to remain among the best memecoins to buy. The Shiba Inu price has declined by more than 10% failing to break above $0.00001000 in November.
The case has been the same for Pepe coin. The price of $Pepe has declined by more than 11% on the weekly chart. In addition, the trading volume has dropped, hinting at a potential decreasing interest from investors. This bearish outlook has contradicted the bull flag formation crypto analyst, ElijaBoom spotted on $Pepe.
Galaxy Fox Enters Bullish Mode, Passing $350k
Galaxy Fox ($GFOX) is one of the few memecoins that has broken the bearish sentiment of Pepe and Shiba Inu. The project has been on a bullish ride attracting gamers and investors. As a result, Galaxy Fox has raised over $350,000 in the first few weeks of its presale.
The funds would be used for the development of the Galaxy Fox gaming ecosystem. This is where $GFOX is different from other memecoins. While the likes of $PEPE and other memecoins are fueled by only hype, $GFOX is backed by an actual gaming ecosystem. The ecosystem will feature a P2E game, NFT collections, and a digital marketplace, among other features.
Gamers have shown a massive interest in the immersive Endless Runner game set in a galaxy where foxes rule supremely. Players will run through different worlds to rank on top of a tiered leaderboard. This leaderboard has been integrated for prize issuing. The higher a player ranks, the greater their rewards. This profitable system has made $GOFX a top cryptocurrency to buy now.
Gamers will exchange, buy, and sell their rewards for cash on the marketplace. Galaxy Fox has also introduced unique NFTs to be incorporated into the runner game. They are some of the coolest NFTs as they serve as power-ups to characters.
Closing Thoughts
The hybrid infrastructure of Galaxy Fox has made $GFOX one of the best cryptocurrency to buy now above other memecoins. This can be seen in the growing interest the project has recorded in the first few weeks of its presale.
Because of this, analysts are more optimistic about the project than they are about $PEPE and $SHIB. While 1$GFOX token is now being offered for just $0.00066, analysts have predicted a surge to $0.05 before the year ends. This makes now a great time to stack the $GFOX token in its crypto presale.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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