$DOGE, $SHIB and $FLOKI Biggest Losers in Meme Slaughter; $GFOX Sails Towards $5 Million

The Meme coin market, which has been on fire for the past month, recently saw a major pull back after the $BTC plunge to $65K, as whales took profit from their triple-digit gains. However,one of the hottest new memecoins, $GFOX, emerged from the sudden market crash unscathed. In fact, it continued its upward trajectory, raising $5 million in its ongoing presale. Analysts now believe the memecoin is poised to significantly outperform the market in the coming recovery – especially if $BTC can rally back above the $73K level.

$DOGE Nosedives 16.5% in Huge Memecoin Market Sell-Off

$DOGE was one of the biggest losers in the current meme-market sell-off, dropping by 16.5% within nine days after it reached a monthly high of $0.1845. In the same week it began to drop, $DOGE's Open Interest (OI), which represents the amount invested in $DOGE, also decreased significantly.

On March 14, $DOGE's OI value was at $489 million, but by March 17, it dipped to $334 million. Being the largest memecoin, $DOGE is expected to rise again after the selling pressure subsides, and indeed has gained a modest 6% after $BTC recovered above the $67K level. However, market sentiment on large cap memecoins has been sluggish, as newer projects like $WIF with smaller market caps have stolen much of the spotlight.

$SHIB Cools Off After February Rally, Huge Transfer Raises Concerns

$SHIB was among the altcoins, with the best gains in February, rising by 382%. However, it lost momentum into March due to $BTC's inability to remain traded above $70k.

Top crypto experts also attributed $SHIB's recent decline to significant transfers of $SHIB tokens by unknown entities to centralized exchange, which triggered a potential massive sell-off of the token.

According to Whale Alert, a top tracker of large crypto transactions revealed that a whopping 1 trillion $SHIB, worth $28,814,000, was observed moving from an unknown wallet to Gate.io, a popular cryptocurrency exchange. $SHIB currently trades at $0.00002854

signifying a 58% drop from $0.00004534, its monthly high which it reached on March 5. $SHIB saw an impressive 15% pump in 24 hours after the market dump, but is still lagging behind its monthly high.

$FLOKI Price Drops 30% in 4 Days as Whale Dumps Billions Of Tokens

$FLOKI has been one of the hardest hit meme tokens in the recent market downturn. It declined by 30% from $0.0003113 on March 14 to $0.0002164 on March 18, raising concerns among investors that it might continue to slide downwards as whales take profits from its recent rally..

According to SpotOnChain, a blockchain analytics platform, a whale deposited 14.1 billion $FLOKI tokens worth about $3.09 million to Binance, the largest centralized crypto exchange platform. Depositing such a large amount of a token into a centralized exchange like Binance in most cases is for a potential sell off.

$GFOX Soars Past $5M in Presale, Poised for Growth Despite Market Downturn

Having raised over $5 million in presale, Galaxy Fox has shown how much investors are willing to buy and hold its token. Even amid a meme coin market pullback, $GFOX still possesses strong growth potential, thereby pushing its demand to an all time high. For this reason, several experts have repeatedly called it a must-have crypto token.

One of the factors that contributed to $GFOX increasing demand is its performance in presales that has wowed many investors and crypto experts. Currently in stage 10, the last stage of its presale, $GFOX is set to deliver about 450% ROI for stage 1 investors.

As a blockchain platform, Galaxy Fox features exciting ways for users to earn passive income, such as earning staking rewards by participating in the staking pool. The platform also runs a Web3 game that rewards players as they achieve top performance.

Furthermore, $GFOX has a deflationary feature, where a portion of tokens used within the ecosystem is permanently removed from circulation. This feature is designed to increase the rarity and value of the tokens over time, making it an attractive investment proposition for investors looking for assets with built-in scarcity and potential price appreciation.

Galaxy Fox also runs a treasury to sustain its ecosystem and reserve funds for future developments, initiatives, and endeavors. Currently selling for $0.00364 per token, now is arguably the best time to buy the token if you have missed its previous presales stages. $GFOX is expected to gain in value massively by the time it launches on exchange platforms according to predictions by several crypto analysts.

Conclusion

The massive sell-off affecting the memecoin market makes larger cap tokens like $DOGE, $SHIB, and $FLOKI questionable investments at the moment. Not so for $GFOX, which has successfully progressed into its last presale, raising over $5 million – yet still remains a small cap token with significant room for upside. As this token nears its launch date, its demand keeps rising, and it is definitely poised for success when introduced into the crypto market.

Looking for investments with sure gains, buy $GFOX today! Visit the website to get started and join the telegram community for more updates.