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The leaders in the memecoin sector have experienced a tough week and the recent wave of liquidations has caused the big players to collapse. The emerging ones have proven to be more resilient and, while the most important investors are selling large memecoins, the exact opposite is happening in the opposite sector.
Dogecoin ($DOGE) has dropped by almost 10% this week, while Shiba Inu ($SHIB) has dropped by 8%. Meanwhile, Galaxy Fox ($GFOX) has had an incredible surge, and not even this situation has been able to stop its progress. Is the great transition to the next generation of memecoins already underway? Could $GFOX and similar new cryptocurrencies be the best cryptocurrencies to buy in this cycle?
Tough week for the main memecoins
Large-cap memecoins have experienced a significant loss of liquidity, with the latest drop causing $DOGE to plummet by 10% in the last seven days and $SHIB by 8% in the same period. Dogecoin still ranks among the top ten cryptocurrencies, while Shiba Inu holds the top spot in the cryptocurrency rankings. The size of these projects makes them much more vulnerable to changes in general sentiment compared to smaller ones.
The $21 billion market cap of Dogecoin and the nearly $16 billion of Shiba Inu also include many investors ready to sell at the first sign of weakness. In every cycle, there is a rotation from old projects to new ones, and the recent price action of these giants of 2021 indicates that this transition is already underway.
The most attractive feature of Memecoins is their ability to generate giant returns. Unfortunately, $DOGE and $SHIB no longer possess this quality, and this initial sell-off could be part of a broader rotation. Realistically, $DOGE may be a great cryptocurrency for beginners entering the world of memecoins for the first time. However, anyone looking to achieve the highest possible returns with cryptocurrencies must look beyond.
Galaxy Fox ($GFOX): betting on the next generation
Galaxy Fox offers incredible upside potential and is among the best cryptocurrencies to buy. It has not yet been launched on open markets and has not yet surpassed its growth phase. The current development phase of $GFOX is equivalent to buying $DOGE at the beginning of 2021, and its retail launch promises a wild ride. Galaxy Fox is a third-generation memecoin that is raising the standards for both earnings and entertainment.
The implementation of a Web3 endless runner game that offers rewards each season is just one of the new additions to the project, while the staking reward program has driven its massive initial growth. Having already raised over $5.2 million and showing no signs of slowing down, this project has all the initial indicators of a winning underdog. The P2E game places $GFOX in the GameFi narrative and remains one of the only tokens available to investors that enjoys dual narrative support.
The review of Galaxy Fox regarding typical memecoin tokenomics has proven popular among investors, while the addition of a token burn system, taxation, and staking program has unlocked some new interesting mechanisms. Thanks to the burn, $GFOX holders enjoy an indirect accumulation of value, stakers earn a native yield on a deflationary asset, and the taxation system directs capital into the ecosystem to drive growth significantly.
This proactive approach to growth and the futuristic tokenomics model are something that the old generation of memecoins cannot compete with. That’s why, in every cycle, newcomers inevitably surpass their predecessors.
Conclusion: a new cycle means new leaders
Do not make the mistake of holding overvalued dinosaurs from the last cycle, instead of tokens launched in this cycle. The same rules apply every four years and the best cryptocurrencies to buy are always the new market players.
The opportunity of Galaxy Fox is a clear example of the difference in growth between old and new cryptocurrencies. $GFOX can easily achieve a rally of 50 times, maybe even 100 times, in this cycle, while holders of $DOGE and $SHIB will be lucky to see a 3 times increase. Join the future and participate today in the presale of Galaxy Fox.
Find out more about $GFOX here:
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*This article has been paid for. Cryptonomist has not written the article nor tested the platform.
