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Meme coins have captured the crypto market this cycle, outperforming mid-cap alts and even the king of cryptos, $BTC, by a wide margin. While most of the gains have predominantly come from recently-launched small cap memes, especially in the Solana ecosystem ($WIF and $BOME are top examples), $DOGE is finally waking up with a 32% increase over the past week. Investors are now wondering if this will spark a long-awaited rally for $DOGE, reminiscent of 2020.
Meanwhile, newcomer Galaxy FOx ($GFOX) is turning heads with an ICO nearing the $6 Million level. Can this new ICO crypto become a top 100 cryptocurrency?
Every cryptocurrency team that releases a coin into the market is hoping that their coin will quickly gain value and rise to become a top 10 altcoin. $GFOX, the latest new ICO crypto in the market, is no different.
$GFOX is a meme coin project that hopes to proliferate and transform. Towards this goal, the project offers a range of features that align with meme coin ethos while also offering lots of utility.
The main attraction to the $GFOX ecosystem is the play-to-earn web-3 running game. This game is designed to offer players exciting gameplay that also rewards players with real cash. Players are called upon to strive for the top 20% of positions on the leaderboard.
Those who win are rewarded with in-game currencies that they can exchange for $GFOX tokens. This allows players to make an income on the side while also enjoying a great game. The ecosystem also offers temporary attribute boosts and $GFOX NFTs that can help the players differentiate themselves and gain an advantage over other players.
$GFOX NFTs is a collection of 3,000 artworks that are inspired by the different characters of the Galaxy Fox ecosystem. These tokens are available to mint directly on the $GFOX website. Once you mint yours, you can start trading them on the $GFOX marketplace or third-party marketplaces like OpenSea.
Another feature that makes $GFOX stand out as the best new ICO crypto to invest in is its staking platform. This platform has a stargate that collects 2% of every $GFOX transaction. The funds collected are used to form a prize fund that is used to reward loyal $GFOX holders. Investors who lock up their tokens immediately become eligible for a proportionate share of the $GFOX stargate.
The token burn feature also helps this new ICO crypto shine as a great investment opportunity. This feature makes $GFOX a deflationary token that gains more value as it becomes more popular. As people join the platform, the token burn feature reduces the circulating supply of $GFOX by burning tokens, hence creating a sense of scarcity. This increases the inherent value of $GFOX.
Physical merchandise is another unique feature that is rarely offered by cryptocurrency projects. This feature includes a line of fashion items and collectibles that allow $GFOX investors to take a part of the Galaxy Fox ecosystem home with them. Although a seemingly simple feature, physical merchandise can take $GFOX from just another new ICO crypto and propel it into one of the most recognized brands in the world.
$GFOX is now in the final stages of its presale. With only 9% of presale coins left, $GFOX has raised over $5.44 million. This is a lot of money, and the team is determined to ensure that each coin is used for its intended purpose. This is where the token treasury comes in. The treasury is put in place to enhance accountability within the $GFOX ecosystem, ensuring that coins are distributed as originally laid out in the $GFOX tokenomics report.
$DOGE has shown outstanding performance, rising by about 91% in the past 30 days. For $0.1 and a market cap of $26.7 billion, $DOGE now stands as the 8th largest cryptocurrency by market cap and the largest meme coin ever. This performance has put a gap between $DOGE and $SHIB on the list of top 100 cryptocurrencies by market cap.
Previously, $SHIB had appeared very ambitious, climbing to become one of the top 10 cryptocurrencies by market cap. Ranking at number 10, $SHIB was only one spot behind $DOGE, which was the 9th largest cryptocurrency by market cap. $SHIB has since fallen off the list of top 10 cryptocurrencies, while $DOGE is seen to be headed for the moon.
The battle of the memes is still ongoing, and $DOGE is proving to be the indisputable leader of all meme coins. Not only is it the pioneer, but also the leading meme coin by market cap. Additionally, it has managed to put a gap between its position and that of its largest rival $SHIB. The only question remains, will smaller memes like $GFOX follow suit? Can this new ICO crypto rise to become a top 100 or even a top 10 cryptocurrency? Only time will tell.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
