Memecoins have been flying, and for investors who are new to crypto, it’s money time. These high-risk assets only surge during times of market certainty when animal spirits reign supreme. Bonk ($BONK) has already rallied 2,300% and is rising, but does $BONK have more bounce, or is the bonking party over?
What does $BONK’s outrageous success dictate for other memecoins? Is the scene changing? Which will be the top 5 cryptos to invest in from this sector? Has Bonk’s success paved the way for Galaxy Fox ($GFOX) to rally even higher?
Galaxy Fox ($GFOX) Missed $BONK?
Galaxy Fox’s presale shows that investors who missed buying Bonk early are not missing the chance to be early adopters of $GFOX. Funding has flown past $200,000, and this play-to-earn token has become one of the top cryptos to buy right now.
Bonk’s success shows that speculative appetite is high. Additionally, it displays how fearsome the rallies will be for meme coins that have not yet experienced a bull market. Galaxy Fox does have two overwhelming advantages, even over $BONK.
Firstly, its Web3 runner places it in the GameFi narrative. Secondly, the $GFOX tokenomics are in a league of their own compared to other meme coins.
Most meme coins introduce some sort of burn and lock-in value for investors via deflation. Galaxy Fox takes this further, introducing its own token burn and crucially minting the majority of coins at the TGE. Early holders will suffer no dilution. Even staking rewards within the ecosystem are funded by taxes instead of emissions.
Early stakers in Galaxy Fox’s Stargate module will be the greatest winners earning in a deflationary asset. Yield on a deflationary has long been the dream of many DeFi protocols, and finally, $GFOX makes it a reality. Alongside growth predictions forecasting a potential 3,900% surge before the end of the year, the above point to why $GFOX is seen as one of the top 5 cryptos to invest in before the bull market begins.
Bonk ($BONK) Is the Party Over?
Bonk’s explosive success highlights that investors want to take risks and win big. It’s been tearing up the charts, introducing new yearly highs almost every other week. $BONK has shown the upside potential of fresh memecoins in the current macro environment. In the last month alone $BONK’s market cap has grown from $13 million to well over $250 million.
It has spawned thousands of copycat projects already, and for the first time in crypto history, Solana ($SOL) has become the hotbed of memecoin activity.
Bonk’s future success remains intrinsically tied to $SOL’s performance with most of Bonk’s gains coming from traders within the Solana ecosystem rotating profits. Still, Bonk’s incredible momentum makes it one of the best cryptocurrencies to buy before 2024.
Closing Thoughts: A New Generation of Memecoins Yet to Experience a Bull Market
This new generation of meme coins launch against a spectacular backdrop. Institutional money will flow into crypto in early 2024. Months later the halving will occur, and Powell will cut rates and turn the printer back on. Investors need to think bigger; protocols like Galaxy Fox will shatter all expectations.
Participate in the presale today and become a meme coin connoisseur before the bull market begins in earnest. $GFOX is one of the top 5 cryptos to invest in pre-bull, and adding a 100X gem to a portfolio has never been so easy.
Learn more about $GFOX here:
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The post 2,300% and Rising – Does $BONK Have More Bounce, or is the Bonking Party Over? (and what does its success say about the future of memecoins?) appeared first on CoinJournal.
