Memecoins
PEPE and Galaxy Fox ($GFOX)
-Ethereum ETF approvals spark renewed interest in $ETH ecosystem meme coins
– PEPE meme coin breaks multiple ATHs and sees colossal whale transactions of over $14 million
– Low capitalization Galactic Fox presents an innovative coin to win model
This week, the crypto community celebrated victory when the SEC approved Ethereum ETFs. With this major development, meme coins that are part of the Ethereum ecosystem could potentially do well in the coming period.
Let’s analyze two intriguing projects: the recently launched big-cap and low-cap PEPE Galaxy Fox ($GFOX) piece of money.
$PEPE Price Prediction: Historical Gains and Whale Activity
The $PEPE price has performed well recently, repeatedly breaking an all-time high after an all-time high in May. Its last all-time high was around $0.000015, although $PEPE is currently trading at $0.0000137, down 5% today amid a broader market pullback. However, zooming out to the weekly time frame shows that $PEPE is actually up 35% over the past 7 days.
A prominent crypto analyst, Altcoin Sherpa, has shared his PEPE journey, initially purchasing a 5-figure sum when he only had a market cap of $10 million. If he had held this position until today, it would have been an 8-figure windfall.
Although it sold near the recent high in 2023 for a solid profit and retained a moonbag, the missed potential gains were substantial. However, the analyst remains pragmatic, recognizing that in crypto there will always be trades where you exit too early or too late – the key is to learn and move forward.
The whales also made their movements. According to blockchain analysis company SpotOnChain, a single Ethereum whale address withdrew a staggering $982.56 billion PEPE from Binance, worth over $14 million, in just two transactions over the past day. This demonstrates the strong conviction of the main players.
Technical analysis of AltFINS suggests that the PEPE uptrend is only just beginning. Their report states that $PEPE confirmed a bullish breakout of an ascending channel by surpassing the $0.000012 resistance level.
Based on the Fibonacci extension levels, analysts are eyeing the next major resistance targets at $0.0000148 (78.6% extension) and $0.0000164 (100% extension). While PEPE is currently overbought with an RSI above 75, AltFINS recommends buying back any dips towards the key $0.000012 level which was previously resistance.
Galaxy Fox – One Coin Meme to Play to Win
Even though PEPE is a veteran of large caps, Galaxy Fox ($GFOX) is a newcomer with a tiny market cap of $650,000. However, its modest supply of 1 billion tokens in circulation out of a total of 5 billion means it has plenty of room to maneuver.
The project combines meme culture with a play-to-earn model through an upcoming Web3 endless running 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 place in the top 20% of the leaderboard each season, earning $GFOX token rewards based on their placement.
To gain a strategic advantage, players can purchase unique NFT asset boosts that provide temporary upgrades to their aircraft’s attributes. This NFT integration layer adds the dynamics of game theory. The Web3 endless runner launched on May 11, 2024, when Galaxy Fox’s play-to-earn model fully kicks off.
Beyond just earning GFOX through gaming, the token also powers the ecosystem. Players can spend their hard-earned GFOX on additional features, upgrades, and NFTs as part of the in-game economy. This two-way utility aims to foster an engaging, rewarding, and sustainable cycle.
Conclusion
To summarize, following the Ethereum ETF approvals that set the ecosystem ablaze, PEPE and Galaxy Fox could potentially present compelling coin opportunities to look at, albeit 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 a further rise towards the $0.0000164 level, PEPE could be gearing up for its historic run to continue.
On the other hand, Galaxy Fox is taking an approach by combining memes with a play-to-earn model and NFT utilities, with the aim of creating an immersive and enriching ecosystem around its $GFOX token. Its small market cap of $650,000 could also provide an attractive entry point for an under-the-radar coin project.
Learn more about $GFOX here: