This Shiba Inu (SHIB) Rival Might Be the Next Meme Coin to Explode – Here’s Why

Meme coin investors are always on the lookout for those low-cap gems that can potentially explode in price. Coins like Shiba Inu (SHIB), dogwifhat (WIF), and Pepe Coin (PEPE) have already achieved massive market capitalizations, making it challenging to replicate the astronomical gains witnessed in their early stages. 

However, one of those low-cap meme coins that have caught the attention of investors is Galaxy Fox (GFOX), currently boasting a market cap of around $600,000. As some whales cash in on SHIB, let’s explore why this Shiba Inu rival might potentially be the next meme coin to explode.

Galaxy Fox (GFOX) – Best Meme Coin to Buy Now?

GFOX had an extended crypto presale where they successfully raised over $6 million. Subsequently, in April 2024, they launched on Uniswap and Dextools. Following the initial profit-taking by presale investors, the price pumped over 400%, but it later retraced to its current levels of around $0.0006, with a market cap of just around $650,000.

But what exactly is Galaxy Fox? The project launched a beta version of their web3 endless runner game on May 11th, 2024, where players can earn GFOX tokens based on their in-game performance. 

The top 20% of players on the leaderboard each season will receive rewards that can be exchanged for GFOX tokens, creating an incentive for skilled gameplay. Players can purchase unique NFT assets that provide temporary attribute boosts, adding a strategic layer to the gameplay. 

In the game, players will pilot war aircraft, collect points, battle enemies, and aim to secure a high rank on the leaderboard to earn rewards.

This platform enables investors to lock their $GFOX tokens into the ecosystem, entitling them to a share of the staking rewards. These rewards are distributed from the 2% transaction tax levied on every $GFOX transfer. While the staking platform provides investors with an opportunity to generate passive income, it also serves as a means to foster a sense of value and appreciation for loyal members of the Galaxy Fox community.

The project’s tokenomics include a deflationary supply and transaction taxes that reward stakers, preventing dilution for early holders. 

The total supply is capped at 5 billion GFOX tokens. While the team’s marketing campaign will be crucial to expand awareness, they are already advertising on various crypto media outlets such as Analytics Insights.

Shiba Inu Whales Cash in on SHIB

According to SpotOnChain, a whale recently took a $3.2 million profit (x2) from Shiba Inu (SHIB) after 2.6 years. The whale had bought 199 billion SHIB (estimated cost: $1.68 million) from Coinbase and DEXs between October 10, 2021, and September 11, 2023. 

They then deposited all their SHIB holdings (now worth $4.88 million) to Coinbase 3 hours ago, realizing an estimated profit of $3.2 million (+191%). After losing $176,000 in the initial trade in 2021, the whale has likely learned the lesson of patience!

While Shiba Inu is undoubtedly a prominent meme coin with a substantial market capitalization of over $14.5 billion, it becomes increasingly challenging to achieve significant profits as the market cap grows. Furthermore, whales cashing in their SHIB holdings might not be a positive sign, as evidenced by SHIB’s 4% decline today.

Conclusion

All in all, Galaxy Fox (GFOX) might potentially present an intriguing opportunity for meme coin investors seeking the next potential breakout. With its gameplay, tokenomics, and low market cap, GFOX could potentially attract a broader audience and witness substantial growth. 

On the other hand, Shiba Inu (SHIB) remains a formidable player in the meme coin space, but its massive market capitalization may limit the potential for exponential gains. The recent whale activity and price dip serve as reminders of the volatility inherent in the meme coin sectort, emphasizing the importance of diversification and risk management strategies.

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