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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Shiba Inu ($SHIB) is one of the most popular names in the cryptocurrency market. As one of the top meme coins to buy, $SHIB is on the watchlist of many investors. However, an analyst has advised against HODLing Shiba Inu for long periods.
The analyst has listed the best cryptos to buy instead of $SHIB. Read on to find out why Galaxy Fox ($GFOX), Bonk ($BONK), and Immutable ($IMX) are considered better alternatives.
Shiba Inu ($SHIB) emerged as the top Dogecoin competitor in 2021. Despite remarkable efforts to rebrand the project as more than a meme coin, $SHIB has failed to rally. Analysts have listed other meme coins to buy because of its tokenomics.
At the current burn rate, 2.1 trillion $SHIB tokens will be burned in the next 50 years. In comparison, there are over 589 trillion in circulation. Unless there's a massive improvement in burn rate to increase the scarcity of the Shiba Inu coin, HODLing the meme coin isn't advised.
Galaxy Fox ($GFOX) has been listed as one of the best meme coins to buy now because it solves the primary issues of $SHIB. From the onset, the project has integrated utility in the form of a blockchain gaming ecosystem.
While the excitement of meme culture is retained, Galaxy Fox will provide opportunities for its users to earn from the project. Players will be rewarded for competing in events within the immersive virtual world of Galaxy Fox. As they rank higher up the intergalactic leaderboard, their rewards will be increased.
Another significant improvement is in the tokenomics of the project. While $SHIB has over 589 trillion tokens in circulation, $GFOX will only ever mint 5 billion. This smaller token number gives it greater room for price increases.
Also, as an ERC20 coin, $GFOX supports a token burn mechanism from the first day of its launch. $GFOX has already recorded successes in its crypto presale, rising by more than 70% to reach $0.001122 per token. However, HODLers have been projected to benefit from an ROI of 100x.
Instead of launching on Ethereum, Bonk was launched on the Solana network. As the first dog-themed meme coin on Solana, Bonk achieved instant success. In 2023, $BONK has increased by more than 5,000%, making it one of the top meme coins to buy.
Like $GFOX, Bonk was launched with utility. The project was created to bring back liquidity to Solana-based decentralized exchanges (DEXs). This continuous utility means the price of $BONK could continue to increase – plus it's a much newer coin than $SHIB with a far lower market cap, representing far better growth potential.
Immutable has made a name for itself in the gaming world. The project looks to expand its reach with a new partnership. Immutable and Transak (a popular payment provider) have entered a strategic partnership.
The partnership is aimed at bringing payments to blockchain games. This partnership could make the $IMX coin one of the best cryptocurrency investments. From its price of $2, analysts have projected a high of $4 for $IMX in the coming months.
These are the three best altcoins to invest in, as $IMX, $Bonk and $GFOX appear to be in a far better position to rally than $SHIB. However, as a one-of-a-kind project, Galaxy Fox holds the most potential to lead the bull market. So check out the Galaxy Fox presale today!
