$SHIB edges close to $DOGE; The pre-sale of $GFOX has reached 2 million dollars

Although $BTC has historically been a poor performer in Q1, the start of a new year is generally an optimistic time for market sentiment. But deflation and loose monetary policy have added fuel to those anticipating a reversal in trends until January. Now in the year In 2024, the year promises to be an exciting one for crypto investors as a perfect storm of conditions is brewing on the horizon.

A strong performance from leading market cap cryptocurrencies underscored the strength of digital assets – and the higher the risk ladder, the higher the gain. Memecoins Coins like $BONK have grabbed a lot of attention in the past few months.

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Shiba Inu ($SHIB) gained on $DOGE

The assumption that market leader Dogecoin will perform better has so far been proven false. Memecoin investors have shown that they prefer small market values ​​and large multiples.

The two main reasons behind Shiba Inu's recent performance are the $SHIB burn rate, with over 150 million tokens burned in recent days, as well as increased whaling activity. These larger, more capitalized investors seem to be taking advantage of the memecoin mania and targeting $SHIB because of its liquidity and low market cap.

This situation played out on the wider ecosystem. The reversal of Pepe ($PEPE) by Bonk ($BONK) is another prime example of memecoin traders opting for fresh narratives and low market prices. And when $BONK followed up again, Dogwifhat ($YF) was next to ride.

$SHIB's rise above $DOGE is an example of a larger trend toward smaller, faster-moving projects, which shows no sign of abating as 2024 begins.

Galaxy Fox ($GFOX): An up-and-coming Memecoin/P2E hybrid

Galaxy Fox is one of these new competitors, garnering attention and funding. It brings a unique perspective to the memecoin space by integrating the classic P2E component into the ecosystem.

Integrating utility for token holders has always been a controversial path for memecoins born as speculative vehicles. However, the launch of the Shiba Inu Shibarium certainly pushed the project forward as a whole. Could memecoins be ushering in a new era in which owners can improve their ability to speculate and entertain?

Galaxy Fox P2E is a classic runner game similar to Temple Run but with a Web3 twist. At the end of the season, it pays out prizes to the top 20% of users. One thing to note about Galaxy Fox is that the unique ownership of $GFOX means investors gain exposure to both developments in GameFi and increased speculation in the memecoin arena. Galaxy Fox is another entry by integrating a tax system (6% buy and sell) to support various ecosystem features.

2% of this amount goes directly to stakeholders, introducing a direct link between ecosystem growth/user acquisition and payouts. It also means the Galaxy Fox will skip printing tokens for inflation. Another 2% goes to the liquidity pool to facilitate deep liquidity and a smooth trading experience. And the final 2% goes to the treasury, which funds marketing efforts and community initiatives.

Closing Thoughts: New Cycle, Valuation and Next Team

A new cycle is beginning, and some analysts believe that market volatility may decrease significantly as institutional funds grow the industry. But before that happens, there may be one last big bang for memecoins.

The Galaxy Fox presale is an opportunity to join a new small cap project early. With a current market cap hovering around $2 million, it sits well as a small market coin with a strong memecoin/GameFi narrative, making it an attractive option for investors with an appetite for higher risk projects.

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