Following an eventful final week in February, where Bitcoin surged by almost 30%, the popular market maker is now hovering around the $65,000 level. While $BTC catches its breath, investors have shifted their gaze to memecoins which have remained laid back in the past few weeks while $BTC took center stage.
In the past 72 hours, memecoins have seen a face-melting explosion in price. Top on the list of mememcoins that have experienced a recent price surge are $SHIB, $WIF, and $GFOX.
What you'll learn 👉
What’s happening to $SHIB?
Shiba Inu ($SHIB) price coincided with a general upturn in the crypto market. Hence, the token has attracted bullish sentiments and a subsequent influx of new investors. In the past one month, $SHIB has surged by over 40%, outperforming major cryptocurrencies like Bitcoin and Ethereum.
According to Analysts, $SHIB’s price is a product of several factors. Some analysts have speculated that $SHIB’s increased price is not mere coincidence with a general market upturn. According to them, the general bullish sentiment in the cryptocurrency market, with $BTC trading above $60,000 and other altcoins reaching multi-year highs is responsible for $SHIB’s price performance.
On the other hand, some analysts have hinted that $SHIB’s new privacy-enhancing tool; Fully Homomorphic Encryption (FHE), is responsible for its new price. According to this group of analysts, investors are attracted to the tools on-chain data protection and its potential to increase the token’s utility.
As per $SHIB’s continued price surge, market predictions are quite limited. A few analysts have made long-term predictions for a price increase of 280% to 3000%. However, there is very little evidence to support this stake. Other analysts have suggested that while SHIB’s price potential is positive, it is unlikely to replicate its 2021 bull run.
Hence, these analysts expect the token to be influenced by the general market sentiments.
Latest Updates on $WIF
Dogwifhat ($WIF) has witnessed a price surge of over 100% in a matter of days. With the current price of about $1.9 and a 24-hour trading volume of $232.47 million, analysts have attributed the token’s price surge to a number of factors.
As with $SHIB, some analysts have linked $WIF’s current price to recent market activity. These analysts believe that the market’s 24-hours trading volume of over $233 million has contributed to $WIF’s price surge.
Another group of analysts have also attributed the surge of interest in $WIF to its community hype and price speculation. They believe that the hype around the token on social media platforms has contributed to its price surge. The speculations around $WIF’s spot listing have further fueled the interest in the token.
Despite the speculations about the current price, very little is known about the token’s price potential. This is perhaps why more investors have moved to $GFOX.
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Show more +$GFOX Heads for Retail Debut
Galaxy Fox ($GFOX) is a new memecoin with multiple price potential and investment benefits. The token has gone through 8 presale stages and is currently worth $0.002178. Each stage comes with a new price, yielding more profit for early investors.
Galaxy Fox has raised over $3.8 million in its presale phase. The token price has gone from $0.00066 to $0.002178 across eight stages. The presale is designed to incrementally increase the token price giving early investors a 450% ROI. The token’s price is expected to increase to $0.002904 when it is launched. Hence anyone who invests now will make about 70% off the token.
Asides its price potential, Galaxy Fox has outstanding utilities. The token combines its play-to-earn mechanics with meme features that allow users to earn rewards during a game, from staking their tokens, and selling of NFTs.
Galaxy Fox has also implemented a staking mechanism where 2% of transaction fees go into its Stargate community prize pool. This strategy was designed to encourage community engagement and rewards participants.
$GFOX is considered a good buy by analysts, crypto enthusiasts and investors because of its consistent price rise at each presale stage. The project’s commitment to providing multiple utilities and its potential to be a game-changer in the crypto space makes it an attractive investment opportunity.
Final Thoughts
$SHIB’s price has been influenced by the market’s bullish sentiments and its new privacy-enhancing tool. Hence, its potential for further price increases will likely be correlated with the overall cryptocurrency market. Similarly, $WIF’s price surge is driven by market activity, outperformance, community excitement, and derivatives trading with weak evidence for further growth in the coming months.
However, $GFOX is part of a different bunch. The token has had a steady price rise during its presale stages. It combined meme coin features and play-to-earn benefits have made it an appealing investment option for investors. If you are interested in a strong presale token with potential growth opportunities, $GFOX is the perfect token. Join the community today.
Visit Galaxy Fox Presale | Join the Community
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