Dogecoin ($DOGE) is responsible for the meme coin sector that we know today. Not only is it still one of the best meme coins to buy today, but it is also one of the top 10 crypto coins. Despite these significant milestones, $DOGE has never been worth $1.
While the leading meme coin strives for this milestone, it now faces stiff competition in Galaxy Fox ($GFOX). Already establishing itself as one of the best ICOs, $GFOX is aiming for a $1 valuation. Let’s see which of these meme coins has a higher probability of reaching $1 first.
The Case for a $1 Dogecoin ($DOGE) Milestone
Since its launch in 2013, Dogecoin ($DOGE) has onboarded millions of users, claimed a valuation above $11 billion, and even became the first crypto to reach the moon. Despite these milestones, Dogecoin has never reached the $1 valuation.
The highest value of Dogecoin is $0.7316, recorded in May 2021. Since then, the price of Dogecoin has plunged by more than 89%. With the crypto market entering another bull phase in 2024, the $DOGE community is hopeful of a $1 price.
Dogecoin has been trading around the $0.07900 range, meaning a 13x surge will see it hit this milestone. While this is not out of the reach of $DOGE as one of the best meme coins to buy, there are certain limitations.
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Show more +Show less –The most notable one is the unlimited supply of Dogecoin. With its current supply, a 13x surge will make $DOGE the third biggest crypto, with a market cap of over $148 billion. Another limitation is the absence of any major catalyst. This is where the new ICO crypto gains the advantage.
Why Galaxy Fox ($GFOX) Has the Edge Over Dogecoin
Galaxy Fox ($GFOX) is swiftly gaining popularity in the meme coin space for addressing the fundamental issues that have hampered Dogecoin. To address the absence of spark and drive, Galaxy Fox has created a whole gaming ecosystem.
The Galaxy Fox ecosystem includes an immersive peer-to-peer game, an NFT marketplace, some of the coolest NFT collections, and a merchandising store. However, like Dogecoin, the protocol’s products aim to stimulate ecosystem interaction. Users are thus rewarded for participating in the ecosystem.
To solve its $DOGE’s supply problem, the project was built with a better tokenomics model than $GFOX. While Dogecoin has an unlimited supply, there will only ever be 5 billion $GFOX tokens. To maintain the project’s long-term viability, 10% of all $GFOX tokens will be placed in a liquidity pool, making it one of the best altcoins to acquire.
To strengthen the ERC20 coin further, the team has added deflationary mechanics to the project. This is intended to cause the price of $GFOX to increase over the years as it becomes more scarce. These are some of the reasons why Galaxy Fox has quickly found a spot on the list of the best meme coins to buy in 2024.
Closing Thoughts
Galaxy Fox is a carefully thought-about project that solves all the problems of meme coins. Because of this, experts believe it could surge by 500x and hit the $1 milestone before $DOGE. In its seventh crypto presale stage, $GFOX is priced at $0.00198, making it one of the best cheap cryptos to buy right now.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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The post Can $GFOX 500X To $1, Or Will $Doge Get There First? appeared first on CaptainAltcoin.
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