Retail investors are flooding back into crypto markets, and even giants from the last cycle are starting to wake up. Liquidity inflows from Bitcoin ($BTC) ETFs continue to drive the market leader upwards, and with an Ethereum ($ETH) ostensibly coming later this year, investors should be prepared for a 2017-style altcoin season.
Big gains among the top ten cryptocurrencies and Polkadot ($DOT) and Cardano ($ADA) show major break-out signs as Galaxy Fox ($GFOX) pushes towards $4 million. Is altcoin season just around the corner?
Polkadot ($DOT) and Cardano ($ADA) Show Major Break-Out Signs
Polkadot is up nearly 20% over the last two weeks, and breaking above the $8 will be massive. Once $DOT can flip this level, there is a significant point of resistance just below $10, but if $DOT can break this year-long accumulation range, it will go straight to $23 without taking a breath. When $23 goes from resistance to support, $DOT will be well on its way to reclaiming its ATH.
Cardano is in a similar spot, up over 25% in the last two weeks. If $ADA can turn the 200-day moving average into support instead of resistance and break out of the consolidation price range it has been in since last May, there will be nothing stopping $ADA from shrieking toward $1.20. And then, it will be a question of retargeting its ATH.
Plenty of altcoins are showing similar behaviour patterns and are approaching breakouts following nearly year-long consolidation phases. These patterns playing out among the top ten cryptocurrencies and other major altcoins signal a massive run-up is brewing.
Galaxy Fox ($GFOX) Pushing Toward $4 Million
Galaxy Fox is pushing towards $4 million, and its resounding success in building momentum early indicates a huge price discovery phase waits in the wings for this small-cap gem. Listed among the top cryptos to buy right now and redefining what it means to be a memecoin $GFOX is poised to become one of 2024’s breakout stars.
It takes a memecoin exterior, incorporates an additive runner game, and ties everything together with an aggressively deflationary tokenomics mode. Galaxy Fox’s branding and aesthetic give it that high-octane memecoin upside, and the play-to-earn runner game pays out prizes at the end of each season. This token is taking entertainment and explosive upside to a whole new level.
Staking rewards constitute another key feature of this ecosystem. Using taxes to fund these payouts creates a direct correlation between ecosystem activity and reward size, effectively turning all stakers into stakeholders. On top of this, the token burn ensures all these rewards are fully deflationary.
With 70% of tokens allocated to presale participants, distributed ownership is guaranteed, and the protocol Treasury has been meticulously designed to grow the ecosystem aggressively through community initiatives and marketing efforts. It goes without saying that if the top 10 crypto coins post double-digit gains weekly, a small cap like $GFOX can quickly start printing back-to-back triple-digit price gains.
Closing Thoughts: Altcoin Season Looming
The top ten cryptocurrencies look strong, and many are approaching critical levels following year-long consolidation phases. An explosive altcoin season is coming, and you want to be well-positioned before the pump starts.
Small caps like $GFOX will absolutely fly when the season arrives. Participating in the presale gets you a front-row seat to the fireworks display. Putting a 100X gem in your portfolio has never been so easy!
Learn more about $GFOX here:
