On March 19th, crypto witnessed another mass leverage flush. Each time these drastic price drops hit markets, they are driven by perp markets rather than spot holders. Traders are leveraging up big-time, and massive drawdowns become inevitable when funding gets too heated.
Solana ($SOL) and Avalanche ($AVAX) stand strong during bear market, and presales have proven to be another pocket of resilience. Galaxy Fox ($GFOX) pumped during the downturn, and forecasts now predict that $GFOX could 50X this year. Time to dive into the power of relative strength and what cryptos to buy now during this ongoing dip.
Solana ($SOL) and Avalanche ($AVAX) Stand Strong During Downturn
Solana and Avalanche both managed to post modest gains as the broader market saw heavy losses. These gains may appear relatively meager at first glance, but understanding that most other leading altcoins, including other members of the top ten cryptocurrencies, are down double digits this week paints a different picture.
Relative strength during drawdowns is an excellent way to discover the best cryptocurrencies to buy and hold for the cycle. Posting gains while markets tumble means buyers have been waiting for a dip. At this mid-market stage, large investors are doubling down on their winners, following the famous crypto advice: ‘Average, winners, average.’
Instead of averaging into losing positions, smart crypto investors aggressively add to their winning positions. A winning position has proven it is already a winner, and $SOL and $AVAX standing strong during this mini-bear market proves that the market still has an appetite for the alternative layer one trade. These tokens will become outperformers later on in the cycle.
Galaxy Fox ($GFOX) Eyes 50X Move
Galaxy Fox is expected to rally 50X before the year closes, and the confluence of factors driving this presale is incredible. Funding has shot past $5.2 million as investors use the presale to shelter from volatility. The base case is becoming an early adopter of a next-gen memecoin during the memecoin supercycle. This is an excellent value proposition.
Many are asking what cryptos to buy now, and Galaxy Fox provides the perfect answer. It is part of the up-and-coming cohort of memecoins that will inevitably replace last cycle’s market leaders. Galaxy Fox takes a new approach and has blended two unique genres under its hybrid model.
It integrates a play-to-earn game with a lucrative financial incentive, adding a dose of competition and entertainment to the ecosystem and, most importantly, an excellent hook for new users. This P2E is an infinite runner game but with a Web3 twist. The top-ranked players earn cash prizes at the end of each season, and the protocol’s NFT collection has been added, allowing digital collectibles holders to supercharge their odds of winning thanks to unique stat boosts.
Borrowing the classic deflationary angle from the meme genre, Galaxy Fox has an aggressive token burn, which will drive value via scarcity. Another notable feature of this ecosystem is its staking rewards program. With a flywheel between participation, development, and earning materializing $GFOX is ready to start flying later this year.
Closing Thoughts: Watching Relative Strength
During dips, all crypto investors should ask themselves what cryptos to buy now. Avalanche and Solana are solid picks among majors but already in the mid-bull market stage investors would be lucky to net 3X returns.
Anyone who truly wants to make it this cycle needs to be buying small caps. Galaxy Fox’s 50X price prediction highlights the difference in upside potential between small caps and majors. Want a piece of the action? Join this exciting journey today.
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