Solana’s WEN Nosedives Almost 50% as New Memecoin Emerges on Top
The post Solana’s WEN Nosedives Almost 50% as New Memecoin Emerges on Top appeared first on Coinpedia Fintech News
Analysts believe memecoin ICOs will be among the most rewarding this year, and many investors have already acted on this prediction. $WEN is one of the most adopted ICOs, but the meme coin is struggling to find its footing in its retail phase. A new meme coin, Galaxy Fox, has emerged in the crypto space, and it’s poised to go top. $GFOX presents itself as a better ICO, with a high possibility of outperforming many altcoins in its retail phase. The memecoin appears ready for market success, gaining interest from top market players.
Galaxy Fox
Galaxy Fox is an up-and-coming meme coin generating incredible presale buzz. The crypto coin is tipped to be next to blow up. Galaxy Fox has gained crypto bulls’ attention following an impressive ICO performance. The meme has raised $3+ million on presale and looks poised for more.
Galaxy Fox features make its bid to be a top project achievable. The memecoin has a unique theme, multiple use cases, real-life benefits, and tangible utility. It has a play-to-earn feature and other financial opportunities for users. These traits are expected to keep it relevant forever.
Galaxy Fox’s developers are committed to ensuring the crypto project meets market demands and standards. This will enable $GFOX to thrive in the memecoin ecosystem. Galaxy Fox is showing incredible progress on presale. It has sold about 95% of its current token allocation and should break the $4 million milestone before its next stage ends.
With only a few stages left, now is the best time to have a stake in $GFOX presale, as prices are expected to rise exponentially in the retail phase. Early investors will see the highest returns, so don’t wait until it hits retail — get involved today.
Solana’s $WEN Nosedives Despite Token Burn
$WEN generated a lot of hype when it entered its retail phase. The memecoin’s massive airdrop to over a million wallets also brought it significant attention and interest. Overall, the meme coin’s market action since then hasn’t provoked much excitement. $WEN experienced a sharp price decline early this week after burning unclaimed tokens during its three-day airdrop. This was about 27% of the meme coin’s total supply.
The event turned out to be a “sell the news” scenario, as traders were already prepared for the tokens’ purge. The meme coin took another hit when a Whale seller recently exited their position. $WEN is trading at 43% below its daily high, at press release, per Coingecko. This indicates a further decline for the new meme coin. Many investors want to abandon their positions as they seek more profitable options.
The Solana-based meme coin’s prospect isn’t exciting. This is due to its lack of use case and actual utility. $WEN planned to bank on hype and instigated adoption, but the market dynamics have moved past that. Investors are more focused on projects with long-term prospects, making projects like $WEN less likely to thrive in the current market. This explains why many investors are exiting their positions.
$WEN may still yield significant returns when the market picks up. Meme tokens thrive in a stable market, and the Solana memecoin won’t be an exception. However, analysts believe $WEN’s possible surge will come slowly. This makes seeking alternatives a wise decision. Galaxy Fox remains the best alternative at present, as it is in a profitable development phase.
Conclusion
The hype surrounding Solana’s $WEN retail launch faded so fast that the meme failed to make a lasting impression. Experts predict more investors will leave the project in the coming days if its price direction refuses to change. Galaxy Fox is currently the worthy ICO capable of replacing $WEN and performing better. It has the features of a successful crypto project and suits current market dynamics. The presale token is destined for the top, and early investors are prepared to benefit from its success.
Learn more about $GFOX here:
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