$WIF and $BONK have recently dropped by a whopping 20% over the past week, compelling many investors to shift their attention to $GFOX, a full utility token poised to take the market by storm on retail launch. The demand for $GFOX tokens is increasing due to its impressive performance in its ongoing presale rounds. Top crypto experts are now recommending this memecoin as a leading cryptocurrency investment that has the potential to experience an incredible price boost this year.
$WIF Sees its First Ever Downtrend; Dipped by Over 20% In 24 hours.
December 19, 2023, marked the day CoinMarketCap began recording the price history of $WIF, the native token of Dogwifhat. At that time, $WIF traded at $0.369, then increased to an all-time high of $0.4814 on January 18.
However, as the overall market began to pullback this month, $WIF’s uptrend saw a reversal. The memecoin experienced an almost 20% drop within 24 hours, moving from $0.298 to $0.24. While some analysts anticipate a further downtrend, others believe that the price of the meme coin has reached its bottom for now and will start to recover soon.
However, because the decline in the price of this meme coin is already affecting the number of its users, it’s much likely that $WIF will see further downside in the coming days.
$BONK’ Rally Interrupted by Massive Selling Pressure
After a sharp rise of 600% around a month ago, which saw the Solana-based memcoin breaking into the top 100 cryptocurrencies by market capitalization, $BONK is now trending downward due to increased sell pressure within the past few weeks.
Although $BONK is experiencing a downtrend, it has been making significant achievements in the industry. One included its recent listing on Binance, which triggered considerable hype from investors.
Data from LookonChain, a blockchain analytics tool, pointed out that the price of $BONK may have dropped due to a trader selling 52.3 billion $BONK, worth $927,000, soon after it got listed on Binance.
LookonChain also noticed that DWFLabs, a global digital asset market maker, dumped 50 billion $BONK onto Binance, worth $1.6 million around that time. This massive trade of $BONK indicated an increase in selling pressure, causing the price of $BONK to drop further.
$GFOX Defies Market Trend, Gains More Recognition
While other top altcoins battle with the general market trends, the recognition Galaxy Fox is gaining is becoming much more vital as it sets out to transform the world of GameFi and turn modest investments into incredible gains.
Galaxy Fox has a total supply of 5 billion $GFOX tokens, and 3.5 billion tokens were made available for its public presale. The remaining tokens will be used to fund upcoming competitions, serve as prizes, be dedicated to the forthcoming development in the ecosystem, and be assigned to the development team of Galaxy Fox.
This platform also has a revenue distribution model designed to support the community’s long-term success. Notably, it ensures a healthy cash flow into the ecosystem by allowing the platform to collect taxes and royalties at 6% on both buy and sell. From the 6% tax on buys, 2% will be rendered to the staking pool; another 2% will be allocated to the treasury. The remaining 2% will go to the liquid pool. Similarly, the 6% tax on selling will follow the same distribution structure as a tax on buying.
The presale of Galaxy Fox is structured in a way that rewards investors, especially the early ones, with substantial investment returns. With its presale split into ten stages, each stage transition is followed by a rise in the presale price of $GFOX. $GFOX is currently in stage 7 of its presale, and those who invested in the token in stage 1 are on track to realize a 450% return.
Nevertheless, it’s not too late to buy $GFOX in its current presale state, as its price will also increase in the remaining three stages.
Conclusion
With the current downtrend $WIF and $BONK are facing, it would be risky not to wait for their recovery before investing in them. This is not the case for $GFOX, which is currently in presale and is predicted to skyrocket in price more than many altcoins due to increased demand.
The earlier the better! Buy $GFOX now. Visit the website today and get a 15% discount. Join the telegram community for the latest updates.
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