$ETH Price Stalls Below $4K as Market Sweet On $SOL and This Memecoin
The post $ETH Price Stalls Below $4K as Market Sweet On $SOL and This Memecoin appeared first on Coinpedia Fintech News
The top altcoin, Ethereum ($ETH), faltered following an intense run that culminated with the Dencun upgrade, stalling below the $4,000 mark. Solana ($SOL) and Galaxy Fox ($GFOX), a new meme coin, have emerged as two of the best altcoins to invest in amid the dismal price movement of $ETH.
As more investors switch to $SOL, network activity has surpassed that of $ETH. As the cryptocurrency community awaits the launch of Galaxy Fox, it has emerged as the best ICO of 2024, having raised over $5.1 million.
Ethereum ($ETH) Struggles Under the $4,000 ResistanceIn the days before the Dencun upgrade, Ethereum (ETH) had gone on a solid rally, where it finally managed to break above the $4,000 mark for the first time in 2021 since November. Nevertheless, because of the inability to establish a new all-time high, the price of Ethereum has slipped back to below $4,000.
Following the price decrease, the value of $ETH now stands at its 10-day low of $3,500. This level is seen as a key level, as breaking this support level may result in Ethereum testing $3,200 lows. The decrease in price is among a substantial reduction in activity.
Solana ($SOL) Flips Ethereum in Activity and InterestDespite the bearish sentiment that has kept $ETH under $4,000, Solana ($SOL) has been maintaining a strong bullish run. $SOL has been the hottest among the top 10 altcoins, which gained 40% on the weekly chart to breach the resistance level of $200.
In addition to its impressive price performance, Solana has flipped Ethereum in global Google search popularity. The search popularity of the ‘Solana’ keyword has recorded a 100 score in Google Trends, the highest recorded in more than five years, as per a Wu Blockchain report.
In addition, Solana has outperformed Ethereum in terms of network activity. Solana recently topped $3.52 billion in DeFi trading volume, more than $1 billion above Ethereum. $SOL has emerged as one of the best altcoins to invest in, thanks to the ongoing meme coin frenzy on the network.
Galaxy Fox ($GFOX): The Meme Coin Poised To Disrupt the MarketJoining $SOL in the bullish end of the market, Galaxy Fox ($GFOX) has attracted attention due to its potential to revolutionize the meme coin market. Because $GFOX adds functionality to meme coins, investors have deemed it one of the best altcoins to invest in for the 2024 bull market.
The Galaxy Fox team has carefully combined play-to-earn elements, NFTs, and meme coins into a single ecosystem. Galaxy Fox, a Web 3 runner game, is the hub of the ecosystem. Instead of merely being a game hype, Galaxy Fox delivers an immersive virtual environment where proficient players are rewarded with genuine $GFOX coins.
Because the project has reserved 5% of the total quantity of ERC20 coins for its players, the game was designed to be among the highest-paying P2E games. The group has also released a compilation of 3,000 of the coolest NFT assets.
These are the premium NFTs to purchase since they are required for survival missions and gameplay. The multi-utility of $GFOX in its ecosystem has generated a lot of interest in the coin.
The project sold over 3.5 billion tokens and raised more than $5.1 billion, making it one of the best ICO presales. Selling at $0.00364 in the last presale phase, crypto analysts have painted gains of 50x and labeled $GFOX as one of the best cryptos to buy right now.
Closing ThoughtsWith the current market sentiment holding Ethereum prices down, two of the best altcoin investments are Solana and Galaxy Fox. With the frenzy of memecoin activity, $SOL is heading higher every month. Meanwhile, $GFOX is aiming to revolutionize the meme/GameFi ecosystem, thus crypto analysts are more bullish on this new project and its potential gains.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter