Majors rising across the board, stablecoin supply going up, and institutional money scrambling to get on-chain ahead of the Bitcoin ($BTC) Spot ETF. The trajectory is already clear and soon the pre-bull market phase will give way to the authentic bull market. That means another memecoin season is coming.
On-chain data shows seasoned traders frontrunning this event already. Galaxy Fox ($GFOX) has become a target due to its tiny market cap and solid growth strategy. Already dubbed a top crypto to buy now by leading experts, why are early Dogecoin ($DOGE) investors stacking this new memecoin?
Galaxy Fox ($GFOX): For Those That Missed $DOGE
Galaxy Fox is a new memecoin/ P2E hybrid, and its presale has already surged past $400K as early $DOGE investors rotate holdings into what could be the top crypto to buy in 2023. But why has Galaxy Fox overtaken its competition?
This hybrid token model takes the virality and deflationary tokenomics from the memecoin genre and blends them with a classic P2E token. Galaxy Fox’s cosmic characters will even feature on real-world merchandise, and the generated revenue will fund the Treasury. The Treasury in turn then funds marketing efforts and supports community initiatives, activating a user acquisition flywheel.
A classic Web3 runner game and rewards for the top-ranked players each season make up the P2E component. One factor that cannot be ignored is staking rewards. Crypto investors love generating yield, and generating native yield on an single-sided asset allows them to earn passive income and benefit from price appreciation.
Stargate is the reward hub in the Galaxy Fox ecosystem, and it accrues 2% of all buy and sell taxes to fund staking payouts. Due to a lack of token emissions, early stakers will steadily increase the total percentage of supply which they hold. The ability to earn yield on a deflationary asset is exactly why early $DOGE investors have been stacking $GFOX so aggressively and why it is a top crypto to buy now.
The Galaxy Fox ecosystem’s token burn ensures indirect value accrual for all token holders and is the next evolutionary step for the memecoin genre. Holding a memecoin in bullish market sentiment means massive gains. Holding a P2E token as GameFi rallies means enormous gains. Holding a hybrid token like $GFOX in the current market conditions is a fastrack to 100X gains.
Dogecoin ($DOGE) Early Investors Buying $GFOX
Early investors in Dogecoin already know that the most profitable days are over. Those who spotted $DOGE’s viral nature early made themselves incredibly wealthy. Now these investors seek to take their Dogecoin profits and rotate them into the next up-and-coming memecoin: $GFOX.
Dogecoin started the memecoin genre and more than anything acts as a perfect gauge for market sentiment. If $DOGE outperforms majors, it means risk-on conditions thrive. Its recent price action hints that another memecoin mania phase could arrive in the next several weeks, and it makes perfect sense that all early $DOGE investors are already rotating.
Is $DOGE one of the top 5 cryptos to buy now? Absolutely not. Investors who want 100X memecoin gains need to search for micro caps like $GFOX. But will $DOGE perform well in this bull market? Definitely. As the most recognized memecoin, expect $DOGE to catch a decent bid when retail returns to crypto.
Closing Thoughts: Memecoin Mania Will Return
Another memecoin mania phase isn’t a matter of if, but rather of when. Many analysts believe It’s likely to coincide with the first rate cut. When fresh capital pours into crypto, established players will rush to memecoins to maximize returns, and all the volatility will draw newer traders in. Within days, several projects will have 100Xed, and many investors will have become overnight millionaires. The question to ask is: will you be one of the lucky ones who got in early?
Those waiting around on the sidelines for memecoin mania to return, buying into established projects like $DOGE with high market caps, won’t be the ones who become millionaires. It’s the people who take advantage of the opportunity to stack newer coins during the accumulation phase who will be the winners. So participate in the Galaxy Fox presale today and get ahead of the crowd. Make a bet on $GFOX being the top crypto to buy now and participate before the mania descends!
Learn more about $GFOX here:
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The post Why Are Early $DOGE Investors Stacking This New Meme Coin? appeared first on Cryptonews.
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