The post BONK, WIF, and PEPE Slump Double-Digits While $GFOX Looks Unstoppable appeared first on Coinpedia Fintech News
Disappointing US inflation data triggered caution across the cryptocurrency market, hitting meme coins particularly hard. $BONK, $WIF, and $PEPE all experienced double-digit losses as investors shield away from highly volatile assets. However, $GFOX stands out. It has stunned analysts and investors by demonstrating the ability to surpass most popular cryptocurrency coins in terms of growth.
$BONK Slumps 35% From All-time High. Can It Rebounce?
$BONK meme coin, dubbed the ‘dog coin’ of the people, began as a free airdrop to the Solana community back in 2022. Its immediate popularity sparked a buying frenzy, resulting in a 30% price surge within the first 48 hours.
Earlier in the month, $BONK price continued to surge amidst the bull rally, reaching a new all-time high of $0.00004704 and shattering its previous record of $0.00003419.
However, $BONK Slumped by 35% from its recent all-time high, signifying a massive market correction. As the market adjusts to the price plunge, $BONK remains a strong contender. Analysts expect that it could still rally again to new heights.
$WIF Faces Major Turbulence, Slumps 12% as Investor Confidence Wanes
After the release of last month’s US inflation data, the resulting market turbulence seems to affect meme coins significantly. This is evident in the 12% drop experienced by $WIF within 24 hours. It now trades at $2.85. The performance of the meme coin sector mirrors a broader market downturn that has also shaved 6% off Bitcoin’s (BTC) price. Despite reaching an all-time high earlier, BTC now trades at $68,118.
The sudden bullish momentum on Tuesday, March 12th, fizzled out by Thursday. With $WIF’s Relative Strength Index (RSI) near 50, a significant decline seems unlikely unless Bitcoin weakens. Even then, WIF should find solid support at $2.
$PEPE Struggles to Maintain Foothold Amidst Market Pressures
The price of $PEPE fell sharply by 17% after rising to an all-time high of $0.0001064. This correction was probably caused by a mix of whale profit-taking, an overextended rally, and Bitcoin’s decline below $70,000.
The price of $PEPE is currently hovering around the 38.2% Fibonacci retracement level. Should there be continued selling pressure, it can breach the 38.2% support level and drop as low as $0.000006. A breach of this crucial horizontal support, which corresponds to the 50% retracement level, could indicate decreasing buyer strength.
Given the current positive market sentiment, the token’s price is likely to rise. This optimism is fueled by rising volumes of Bitcoin ETFs, the potential for Ethereum ETFs, and the approaching Bitcoin halving. Based on this, enthusiasts anticipate a bright future.
$GFOX: New Meme Token with Great Potential
Galaxy Fox is a web3 based platform with special functionality. $GFOX is the native token of Galaxy Fox, which also doubles as a play-to-earn platform with an exciting explorative runner game.
$GFOX is not just a memetoken, it’s a cryptocurrency with a lot of functionality and use cases. Despite the meme market’s recent decline, $GFOX is increasingly getting more popular and reaching significant milestones in its presales which is currently at the last stage.
With more than $3.4 billion tokens sold and over $5 million generated, $GFOX has cemented its place as one of the most profitable presales in the history of memetokens. As it stands early investors in the token are in course to reap a maximum ROI of about 450% by the time it launches on exchange platforms.
The Galaxy Fox ecosystem uses $GFOX as its in-game currency, which is essential for incentivizing players. Players receive incentives based on how well they perform in games. As a reward, they receive points that they can exchange for $GFOX tokens. Additionally, 50% of the money made via the sale of in-game assets goes to the top 20% of players.
There is also a reward for staking the tokens, this reward comes from Galaxy Fox’s Stargate which is the central reward hub in the Galaxy Fox ecosystem. Also, with every transaction within its ecosystem, Galaxy Fox takes 6% tax and royalties in which 2% goes into the liquidity pool, 2% to the treasury, and 2% into the staking pool.
Conclusion
Dissatisfying US inflation data has dampened investor enthusiasm for some crypto assets, leading to a sharp decline in the meme coin sector. $BONK, $WIF, and $PEPE all experienced double-digit losses. However, $GFOX continues to defy expectations with a thriving presale. Galaxy Fox, with its innovative strategy and increasing community, is already disrupting the meme coin landscape.
There’s a 15% discount if you join the Galaxy Fox ecosystem right now. Visit the website to buy $GFOX tokens and join the telegram community for latest updates!
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