– ETF approvals spark renewed interest in $ETH ecosystem meme coins
PEPE meme coin breaks multiple ATHs, sees massive $14M+ whale transactions
– Low max Galaxy Fox Offers an innovative coin-for-profit model
This week, the cryptocurrency community celebrated victory as the Securities and Exchange Commission approved Ethereum ETFs. With this major development, memecoins that are part of the Ethereum ecosystem are likely to perform well in the coming period.
Let’s analyze two interesting projects: a large-cap PEPE company and a low-capitalization company, which was recently launched. Galaxy Fox (GFOX) Meme coin.
$PEPE Price Prediction: Historical Gains and Whale Activity
The dollar price of PEPE has performed well recently, repeatedly breaking all-time highs after the all-time high in May. Its recent record peak was around $0.000015, though PEPE is currently trading at $0.0000137, down 5% today amid a broader market decline. However, zooming out to the weekly time frame shows that the dollar PEPE price has actually risen by 35% over the past seven days.
One prominent cryptocurrency analyst, Altcoin Sherpa, shared his journey with PEPE, where he initially bought a 5-figure sum when his market cap was only $10 million. Had he held that entire position today, it would have ballooned into an 8-figure windfall.
While he sold near the final high in 2023 for a solid profit and held the moonbag, the potential missed gains were significant. However, the analyst remains realistic, admitting that in cryptocurrencies, there will always be trades that you exit too early or too late – the key is to learn and move forward.
The whales were making their movements too. According to blockchain analytics firm SpotOnChain, a single Ethereum whale address withdrew a staggering $982.56 billion worth of PEPE tokens worth over $14 million from Binance via just two transactions in the past day. This shows great conviction among the key players.
Technical analysis of AltFINS It indicates that the uptrend for PEPE has just begun. Their report indicates that $PEPE has confirmed an upward breakout from a bullish channel pattern by rising above the $0.000012 resistance level.
Based on Fibonacci extension levels, analysts see the next major resistance targets at $0.0000148 (78.6% extension) and $0.0000164 (100% extension). While PEPE is currently overbought with the RSI above 75, AltFINS recommends buying any dips back towards the key $0.000012 level that was previously resistance.
Galaxy Fox – Meme currency that you can play to earn
While PEPE is a veteran, large-cap player, Galaxy Fox (GFOX) He is a newcomer with a small market value of $650,000. However, a modest supply of 1 billion tokens out of 5 billion total means it has plenty of room to run.
The project combines meme culture and the pay-to-win model through a web3 endless runner. In the game, players pilot warplanes to collect points while fighting enemies in an endless runner format. The goal is to earn enough points to rank in the top 20% of the leaderboard each season, and receive $GFOX token rewards based on their placement.
For a strategic advantage, players can purchase unique NFT asset boosts that provide temporary attribute enhancements to their planes. This layer of NFT integration adds game theory dynamics. The endless web3 game is set to launch on May 11, 2024, when Galaxy Fox’s P2P model comes into full effect.
In addition to just earning GFOX through gameplay, the token also powers the ecosystem. Players can spend their hard-earned GFOX funds on additional features, upgrades, and NFTs within the game economy. This two-way tool aims to promote an attractive, rewarding and sustainable cycle.
Conclusion
To sum up, in the wake of Ethereum ETF approvals that have ignited the ecosystem, both PEPE and Galaxy Fox are likely to offer compelling opportunities to watch, albeit from different angles.
PEPE has already proven its explosive power, hitting all-time highs and seeing massive whale transactions worth over $14 million. Combined with technical analysts forecasting a further rise towards the $0.0000164 level, PEPE could be poised to continue its historic run.
Galaxy Fox, on the other hand, takes an approach by combining memes, a play-for-profit game model, and NFT utilities, aiming to create an immersive and rewarding ecosystem around its $GFOX token. Its small market capitalization of $650,000 could also represent an attractive entry point for an under-the-radar meme coin project.
Learn more about $GFOX here:
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