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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The crypto market is still in a corrective phase, with prices experiencing volatility. However, Bitcoin seems to have found a temporary bottom and support during this correction.
In this article, we’ll analyze the price movements of Bitcoin (BTC) and the meme coin PEPE, which recently experienced a significant pump.
Additionally, we’ll explore Galaxy Fox, a new meme coin project currently in a hot crypto presale phase.
Supporters of Galaxy Fox (GFOX) can take part in pre-sale and buy tokens here.
Bitcoin hit multiple all-time highs this month, but a few days ago, a correction started, and BTC went from the $73,000 area all the way to close to $60,000 last night. However, it appears that Bitcoin has found support around this area and has now bounced back, trading around $63,000 at the time of writing.
There are two possible scenarios for Bitcoin from here. The first scenario is that the correction continues, and BTC actually breaks below $60,000, which could trigger the possibility of an even stronger correction in this pre-halving period, potentially reaching the $55,000 area. The second scenario is that Bitcoin consolidates and revisits the $70,000-$73,000 range in the next few weeks.
Following a massive pump amid the meme coin mania in late February and early March, PEPE pumped over 1000% and briefly breached the $0.000001 area, its current all-time high, but then pulled back to the current levels of around $0.0000007. However, PEPE is now up 14% today.
As we can see on the PEPE/USDT chart, PEPE has been trading in a descending channel (blue lines) since March 10th. If PEPE manages to break out of this channel (it’s getting close with today’s pump), the price could revisit the all-time high area again.
The RSI for PEPE is currently at 57, which indicates that the asset is slightly overbought but still has room for potential upside momentum. Additionally, the MACD Line is above the MACD Signal Line, suggesting a bullish trend in the short term.
As a potentially promising new meme coin project, Galaxy Fox has generated decent buzz in the meme coin space. Its recent presale is a resounding success, raising an impressive $5.2 million and selling over 3.4 billion GFOX tokens.
At its core, Galaxy Fox is a comprehensive ecosystem designed to merge the worlds of gaming and cryptocurrencies. It introduces a unique play-to-earn (P2E) model through a Web3 endless runner game, where the top 20% of players each season are rewarded from a pool funded by in-game purchases. This approach fosters a competitive yet cooperative environment, encouraging community engagement and growth.
Beyond gaming, Galaxy Fox incorporates a staking system that levies a 6% fee on all transactions. This fee is distributed among the treasury, Stargate staking pool, and liquidity pool, with 2% allocated to stakers. This mechanism incentivizes active participation and rewards those who contribute to the project’s long-term success.
Galaxy Fox operates with a total supply of 5 billion tokens, strategically allocated for liquidity, ecosystem development, and rewards. The project employs a token burning strategy to reduce the circulating supply over time, which could potentially support token prices in the long run.
What sets Galaxy Fox apart is its versatility and multiple use cases. In addition to gaming, the project offers opportunities for passive income through staking and trading NFT collectibles on platforms like OpenSea. Galaxy Fox has garnered positive attention from crypto analysts and investors who have invested in the project and see Galaxy Fox as a potentially promising contender in the meme and gaming sectors as a result of its diverse range of features.
Learn more about $GFOX here: