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$BONK Price Points to More Upside While This Low-Cap Meme Coin Looks to Capitalize on Ethereum ETF Approvals

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Galaxy Fox

– $BONK price surged this week but corrected after Ethereum ETF approvals

– Low-cap meme coin Galaxy Fox aims to capitalize on potential Ethereum ecosystem boost

$GFOX offers play-to-earn game and token burn mechanism to drive engagement

The meme coin $BONK enjoyed a price surge this week, with gains exceeding 35%. However, in the wake of the Ethereum ETF approvals last night, the market experienced a correction phase, and $BONK’s price has followed suit, dipping by 7% over the past 24 hours.

Concurrently, we’ll delve into the analysis of Galaxy Fox ($GFOX), a low-cap Ethereum-based meme coin with a market capitalization under $1 million, which aims to capitalize on the potential upswing driven by the Ethereum ETF approvals.

$BONK Price Prediction

At the time of writing, the $BONK price is trading around $0.000032, with a market capitalization of approximately $2.1 billion. While this Solana meme coin has surged by 35% this week, it has experienced a correction in the last few hours.

According to altFINS, the price is in an uptrend, with a bullish breakout from an ascending triangle pattern above the $0.000030 resistance level, where it faced rejection twice recently. This breakout could signal a continuation of the uptrend, with a potential upside target of $0.000037 (23% gain). The suggested stop-loss level is $0.000028.

Bonk

The ascending triangle is considered a continuation pattern, typically breaking out in the direction of the existing trend. Swing traders may opt to trade between the trendlines, buying at support and selling at resistance as long as the trendlines remain relatively far apart.

The short-term, medium-term, and long-term trends for BONK are all strongly bullish. Additionally, the momentum is bullish, with the MACD line crossing above the MACD signal line. Currently, the price is neither overbought nor oversold based on the RSI-14 levels, which remain between 30 and 70.

Nearby support zones are located at $0.00002 and $0.000013, while resistance zones are identified at $0.000037 and $0.000046 (which would be a new ATH for BONK).

Considering the bullish patterns, strong uptrends across multiple timeframes, and favorable momentum indicators, BONK’s price forecast suggests potential for further upside in the near term. This Solana meme coin might potentially be able to revisit the ATH area in the upcoming days.

Galaxy Fox ($GFOX) – Can This Low-Cap Meme Coin Capitalize on Ethereum ETF Approvals?

Moving on, the Ethereum ETF approvals might potentially drive an upward momentum for coins within the Ethereum ecosystem, and Galaxy Fox (GFOX) is one such project aiming to capitalize on this opportunity.

$GFOX had a successful presale earlier this year and subsequently launched on Uniswap and Dextools in April. Current market cap hovers around just $600k. On May 11th, they launched their play-to-earn (P2E) game, which serves as the project’s main feature.

At its core, Galaxy Fox offers a Web3 play-to-earn game where gamers can earn $GFOX tokens as rewards for playing and completing challenges. This gamification aspect aims to drive engagement and provide utility for the $GFOX token.

Galaxy Fox

The game promises thrilling adventures and captivating gameplay experiences within its cosmic universe, allowing players to embark on exciting quests and missions while earning rewards.

Galaxy Fox employs a token burn mechanism that removes $GFOX tokens from circulation, potentially increasing the value of the remaining tokens over time. The total supply is capped at 5 billion tokens, with 70% allocated for the public sale.

Furthermore, 10% of tokens are reserved for competitions and prizes to incentivize community engagement, 10% goes towards developing the Galaxy Fox ecosystem, and 10% is distributed between the team and additional prizes. A 6% tax on buy/sell transactions is split between the staking pool (2%), general fund (2%), and liquidity pool (2%), allowing for passive income through staking and ecosystem growth.

While Galaxy Fox’s play-to-earn model and token burn mechanism offer potential for value appreciation, it is crucial to exercise caution and conduct thorough research before investing in any cryptocurrency project, particularly those with a relatively small market capitalization.

Conclusion

BONK, the meme coin sensation, has showcased upward momentum, with its price surging by over 35% this week. Despite the recent market correction, $BONK’s bullish technical indicators and favorable tokenomics suggest potential for further upside in the near term.

Simultaneously, the low-cap Ethereum-based meme coin Galaxy Fox ($GFOX) is positioning itself to capitalize on the potential upswing driven by the Ethereum ETF approvals.

With its play-to-earn game and token burn mechanism, $GFOX aims to drive engagement and provide utility for its token. Be advised investing in low-cap, speculative projects carries inherent risks – but, that said, $GFOX looks like one of the most interesting projects of 2024.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.