-Ethereum ETF approvals spark renewed interest in $ETH ecosystem meme coins
– PEPE meme coin breaks multiple ATHs, sees colossal $14M+ whale transactions
– Low-cap Galaxy Fox introduces innovative play-to-earn meme coin model
This week, the crypto community celebrated victory as the SEC approved Ethereum ETFs. With this major development, meme coins that are part of the Ethereum ecosystem could potentially do well in the upcoming period.
Let’s analyze two intriguing projects: the big-cap PEPE and the low-cap, recently launched Galaxy Fox ($GFOX) meme coin.
$PEPE Price Prediction: Historic Gains and Whale Activity
The $PEPE price performed well recently, repeatedly smashing all-time high after all-time high in May. Its latest record peak was around $0.000015, though $PEPE is currently trading at $0.0000137, down 5% today amid a broader market pullback. However, zooming out to the weekly time frame shows $PEPE is actually up 35% over the last 7 days.
One prominent crypto analyst, Altcoin Sherpa, shared his PEPE journey, initially buying a 5-figure sum when it had a mere $10 million market cap. Had he held that entire position until today, it would have ballooned into an 8-figure windfall.
While he did sell near the recent top in 2023 for a solid profit and kept a moonbag, the potential missed gains were substantial. However, the analyst remains pragmatic, acknowledging that in crypto, there will always be trades where you exit too early or late – the key is to learn and move forward.
Whales have been making their moves as well. According to blockchain analytics firm SpotOnChain, a single Ethereum whale address withdrew a staggering 982.56 billion $PEPE tokens worth over $14 million from Binance across just two transactions in the past day. This demonstrates high conviction among major players.
AltFINS’ technical analysis suggests the uptrend for PEPE is just getting started. Their report states $PEPE has confirmed a bullish breakout from a channel up pattern by surging above the $0.000012 resistance level.
Based on Fibonacci extension levels, the analysts sees the next major resistance targets at $0.0000148 (78.6% extension) and $0.0000164 (100% extension). While PEPE is currently overbought with an RSI over 75, AltFINS recommends buying any dips back towards the $0.000012 key level that was previously resistance.
Galaxy Fox – A Play-to-Earn Meme Coin
While PEPE is a large-cap veteran, Galaxy Fox ($GFOX) is a newcomer with a tiny $650k market cap. However, its modest 1 billion token circulating supply out of 5 billion total means it has ample room to run.
The project marries meme culture with a play-to-earn model through an upcoming web3 endless runner game. In the game, players pilot warcraft to collect points while battling enemies in an endless runner format. The goal is to earn enough points to rank in the top 20% of the leaderboard each season, securing $GFOX token rewards based on their placement.
To gain a strategic edge, players can purchase unique NFT asset boosts that provide temporary attribute enhancements to their aircraft. This layer of NFT integration adds game theory dynamics. The web3 endless runner launched on May 11th, 2024, when Galaxy Fox’s play-to-earn model fully commences.
Beyond just earning GFOX through gameplay, the token also powers the ecosystem. Players can spend their hard-earned GFOX on additional features, upgrades, and NFTs within the game’s economy. This two-way utility aims to foster an engaging, rewarding, and sustainable cycle.
Conclusion
To sum it up, In the wake of Ethereum ETF approvals igniting the ecosystem, both PEPE and Galaxy Fox might potentially present compelling meme coin opportunities to watch, though from different angles.
PEPE has already demonstrated its explosiveness, setting new all-time highs and seeing colossal whale transactions worth over $14 million. Coupled with technical analysts projecting further upside towards the $0.0000164 level, PEPE could be gearing up for continuation of its historic run.
On the other hand, Galaxy Fox is taking an approach by combining memes with a play-to-earn game model and NFT utilities, aiming to create an immersive, rewarding ecosystem around its $GFOX token. Its tiny $650k market cap could also present an attractive entry point for an under-the-radar meme coin project.
Learn more about $GFOX here:
