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Statistics from the crypto market have revealed that memecoins have outperformed more traditional cryptocurrencies like Bitcoin and Ethereum this past month. All data and indicators point towards a bullish trend in March 2024.
As expected, crypto enthusiasts and investors are eager to know the memecoins with the highest ROI this month. This article has identified 3 memecoins with impressive and secure price potential; they include $DOGE, $SHIB, and $GFOX.
$DOGE – Top-Ranked Memecoin
DOGE’s recent surge towards the $1 mark may have been fueled by Elon Musk’s tweets and the emergence of memecoins potential in the market. However, analysts have speculated that there is more to the popular coin than enthusiasts are currently aware of.
Since its launch in 2013, the famous “granddaddy” of mememcoins has gone beyond its lighthearted parody of Bitcoin to become one of the most viable and reliable mememcoins in the market. Thanks to its community and popular influencers like Elon Musk, DOGE has maintained its position as the top memecoin with the largest market cap.
Over the past week, Dogecoin has experienced a massive price surge. Only two days ago, the token surpassed $0.20, the highest it’s been since Q4 2021. This earned the token about 150% from the previous week.
Many analysts have linked this price surge to the increased interest from whale investors. According to these investors, the whales are buying millions of DOGE at a 3-year peak rate. With high expectations that the token will reach the $0.30 mark, more whales have taken an interest in DOGE. These interests suggest an overwhelming bullish trend in the coming weeks.
Dogecoin is trading at $0.15 today, March 7, 2024. If the token breaks past the psychological support level of $0.25, analysts have speculated that its price could increase by an extra 50%. On the other hand, some analysts have cautioned that the market could turn bearish if the token’s price drops below the $0.15 support level.
DOGE’s market performance over the last 5 years has been sustained by its growing community engagement. Hence, its price in subsequent months will depend largely on how far its community is able to push it. Other factors that may also influence the token are market sentiment and the overall performance of the cryptocurrency market. Little wonder investors are diversifying their portfolios by buying $SHIB and $GFOX.
$SHIB – Doge’s Biggest Competitor
Since its launch in 2020, Shiba Inu ($SHIB) has been Dogecoin’s foremost competition. The popularity of $SHIB wanting to outperform $DOGE earned it the name “Doge Killer.” $SHIB was one of the most bullish memecoins in 2021, and it has thus far maintained a close chase with its competitor, Dogecoin. Like Dogecoin, Shiba Inu has remained relevant in the crypto space because of its dedicated community of users.
This week, $SHIB surged over 200% from its price in February 2024. This price surge has drawn investors to the token. However, market statistics from the last 72 hours suggest that top SHIB holders are withdrawing and selling off their tokens. While details of these withdrawals are still sketchy, some analysts have hinted that investors have already made their profits and are moving onto more trending memecoins like GFOX. Some investors have compared $GFOX and $SHIB in the last few months to weigh their utility and price potential. Despite $SHIB’s popularity and market price, the new hybrid memecoin has offered investors more utilities.
$GFOX – Trending Hybrid Memecoin
Galaxy Fox ($GFOX) is a relatively new memecoin that has gained the attention of the crypto community because of its unique earning and utility potential. The token’s creators have challenged the assumption that memecoins have no utility by launching their customized blockchain gaming network. Thus, Galaxy Fox is a hybrid protocol network that rewards investors for participating in its Web 3 Runner game with $GFOX tokens and other in-game benefits.
According to its tokenomics, Galaxy Fox has a limited supply of 5 billion $GFOX tokens with a deflationary function that activates periodic token burns. The project has also organized an impressive distribution network, with 70% of the total supply allocated to its 10-stage presale and 10% to its liquidity pool.
Having raised over $3.7 million ahead of its launch, $GFOX has proven to be one of the most popular coins in the market. By industry standards, the token’s presale has been more profitable than its competitors. The token’s price has increased by over 300% in the past few weeks. At its current price of $0.002178, analysts are positive that $GFOX could become 100x more valuable when it is listed on a DEX.
Final Thoughts
Over the years, Dogecoin and Shiba Inu have shown some consistency in their price ranges, thanks to their strong community. However, historical market data has revealed that there is always a limit to how far a token’s community can push a price surge. $GFOX has introduced a collection of utilities to the memecoin market, earning it a position that attracts investors. The token’s impressive utility is sure to keep its price going, with or without community support, in the coming months. $GFOX is the ideal 2024 investment. Join the community of GFOX holders today.
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