The Potential Price Crash of Shiba Inu as Galaxy Fox and Newer Projects Surge in the Bull Market
Find out why Shiba Inu Hodlers could crash the price of $SHIB in the upcoming crypto rally and why Galaxy Fox will experience an explosive growth.
One of the most memorable moon shots in the history of the cryptocurrency market came from Shiba Inu ($SHIB) and its meteoric rise. However, it’s no longer considered the best meme coin to buy during this bull market as $SHIB has found it difficult to sustain any positive momentum. Meanwhile, $SHIB hodlers from the last cycle will undoubtedly dump their bags at the first sign of any significant price increase to recover their losses.
In search of higher profits, many investors have shifted their focus to newer projects like Galaxy Fox ($GFOX) . Let’s examine in detail why investors are switching to more recent projects.
What you'll learn 👉
Why Shiba Inu ($SHIB) HODLERS Have Been Moving To New Projects
In 2023, Shiba Inu was ranked as the best cryptocurrency to buy because of its insane profits. However, the price of $SHIB has since plunged by more than 90% from its all-time high. The Shiba Inu team has made several attempts to add utility to the project, but none has yielded a positive price response.
Year-to-date, Shiba Inu has recorded a mere 6% increase while the broader crypto market has increased by more than 100%. IntoTheBlock reported that this has led to a steep decline in $SHIB profitability. According to the October report, only 9% of all Shiba Inu coin holders were in profit.
The report also highlighted the uneven distribution of Shiba Inu tokens as a reason why the meme coin has struggled. 78% of the $SHIB circulating supply is concentrated among the largest ‘whale’ holders. As a result, many $SHIB investors are scouting the market for the best meme coin to buy in the current bull market.
What Galaxy Fox Offers That Interests Investors
Galaxy Fox ($GFOX) has emerged as a potential replacement for Shiba Inu thanks to its unique features and bullish potential. $GFOX has been ranked as one of the best crypto to invest in, especially for investors who are looking for growth in the bull market. The utility and earning opportunity Galaxy Fox provides to gamers has made it a stand-out crypto.
Unlike other meme coins, Galaxy Fox offers utility with its play-to-earn (P2E) gaming platform. GlobeNewswire reported that the play-to-earn (P2E) gaming market is expected to reach $2.84 billion by 2028. Galaxy Fox has built a web3 runner game to be part of this huge growth.
Gamers within the ecosystem can play the exciting intergalactic game and earn rewards and assets from competitions and quests. Top gamers can win $GFOX tokens, some of the coolest NFTs, and in-game assets. $GFOX is an ERC-20 coin. These rewards can be traded in the Galaxy Fox marketplace for real cash.
As a unique blend of two ecosystems, Galaxy Fox has been projected to topple popular meme tokens like Dogecoin and Pepe. This has made Galaxy Fox the best meme coin to buy in the bull market. Analysts have forecasted a 50x parabolic rise for the $GFOX token in the bull market.
Solving the Tokenonics Challenges of Shiba Inu
Another major benefit of $GFOX is its dedication to solving the tokenomic problems of other meme coins. Firstly, the project was created with a maximum supply of 5 billion tokens to limit the number. 70% of this supply would be sold via public crypto presale where everyone can participate freely.
10% of the total supply has been set aside for competition and prizes while another 10% is for the development of the Galaxy Fox ecosystem. Only 5% has been reserved for the team to limit the problem of large whale holders plaguing $SHIB. The last 5% will make up the treasury fund.
Galaxy Fox has also incorporated a deflationary mechanism into its token to ensure its price increases over time. Currently, in the early stages of the presale, $GFOX is priced at $0.00066.This solid infrastructure added to the unique gaming model has made Galaxy Fox one of the best ICOs to date.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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