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Every bull cycle has featured large shakeouts where over-leveraged players get wiped out. Less-convicted holders sell their spot bags, hoping to buy back lower only to have to buy back higher. The long-term bull trend has not been broken, and in positive sentiment, markets tend to reward investors buying the dip. Weakness in the top ten cryptocurrencies means a bloodbath for altcoins, and this could be the last decent value entry for 2024.
Jim Cramer is a great reverse indicator, and his recent tweet and Bitcoin ($BTC) prediction ‘New theme: Number Go Down’ signals that retail is getting bearish at these levels. Typically, great entry points – which is why smart money is buying the dip. Stack these 3 coins while you can: Ripple ($XRP), Solana ($SOL), and Galaxy Fox ($GFOX).
Galaxy Fox ($GFOX) Presale Shatters $3 Million
Smart money always searches for value lacunas. Bidding the long end of the risk tail while everybody else is fearful is a classic smart money play, and participating in early-stage projects while others are selling creates the opportunity for asymmetrical returns. Galaxy Fox is a presale that has generated impressive traction recently, with its total funding crossing the $3 million mark.
Galaxy Fox is a hybrid protocol that merges elements from the memecoin and play-to-earn genres. It has ideal narrative positioning for 2024, and its ecosystem contains an array of features, giving it broad market appeal. The addictive runner game rewards the top-ranked players, the token burn guarantees a deflationary supply, and staking rewards ensure earning opportunities for all $GFOX holders.
Counted among the top 5 cryptos to buy now for investors seeking to aggressively grow their portfolio this cycle. Presales have historically performed well during uptrends, and Galaxy Fox benefits from launching later this when bullish conditions will likely have reestablished. Smart money is taking advantage of today’s poor sentiment and buying instead of FOMOing in post-launch.
Ripple ($XRP) Returns To Pre ‘Not A Security’ Ruling Levels
Ripple has returned to the same level it traded at before the US judge ruled in its favor in a landmark case. Smart money stepped in aggressively at $0.48, with this key support level offering great value for long-term holds. Ripple remains one of the top ten cryptocurrencies, and its fundamentals continue improving with more users adopting its ledger to settle cross-border payments.
Branded as providing crypto solutions for businesses, Ripple has already begun working on integrating CBDCs. Smart money buying $XRP at this level shows that they expect a solid bounce, and these more sophisticated investors are likely betting on the proliferation of CBDCs within the next several years.
Solana ($SOL) Early Signs of Strength
Solana showed incredible strength in the last quarter of 2023, and judging by the strength of its bounce at $80, lots of sidelined capital took advantage of the recent downturn. Smart money is buying $SOL, and among the top 10 crypto coins, price appreciation expectations are highest for Solana. The rampant increase in ecosystem activity paints a clear picture, and smart money loves improving fundamentals.
A growing user base and increasing trading volume are excellent metrics for any layer one. The rampant rise of memecoins on Solana will likely attract retail investors later in the cycle. Smart money likes layer one trades because of the abundance of liquidity. Given the robust metrics and Solana’s position as a frontrunner this cycle, it is no surprise that smart money is buying the dip.
Closing Thoughts: Smart Money Buying The Dip
Smart money typically buys when others are fearful, and the drawdown for the top ten cryptocurrencies and beyond is an excellent opportunity for them to add to their stack. While the long-term bullish trend remains unbroken, dips are for buying, and smart money knows this.
Presales like Galaxy Fox have huge potential this year, and getting an early entry now is a smart move. In the last cycle, multi-billion dollar valuations were relatively commonplace for P2E projects, and the wealth effect for early holders would be enormous if Galaxy Fox could attain these heights.
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