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Bonk

Bonk’s seemingly unstoppable rally hit a snag recently, falling over 12% in the past 24 hours. The Solana-based memecoin has been on an absolute tear as of late, climbing by almost 420% in the past month alone. But sooner or later, the music must stop and the hangover will set in. The only question is whether this is just a momentary set-back before another leg up, or is the Bonk party over? Meanwhile, $BONK competitor <a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=capatlcoin&amp;utm_content=58" target="_blank" rel="noopener noreferrer nofollow">Galaxy Fox ($GFOX)</a> ’s party is just getting started as one of the top ICOs of 2023. So let’s take a closer look at both of these <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="memecoins" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">memecoins</a>!
$BONK Technicals Show Weakness as $GFOX Looks Increasingly BuCllish
Heading over the daily chart on Bybit, $BONK is showing a classic bearish engulfing candle followed by a lower high – telltale signs of bullish exhaustion and a possible price retracement to the $0.0000719 level, which is a hefty 48% pull-back. The 4-hour chart also shows price falling below resistance, as it struggles to reclaim the $0.0000116 level. If it can reclaim that level, it’s possible that $BONK will continue to the upside. But weekly RSI is off the charts, putting the coin into way overbought territory.&nbsp;
Basically, what all that means is that jumping into $BONK at this moment is a very risky proposition. Meanwhile, new memecoin sensation, Galaxy Fox, has seen its presale explode, with a 2x in just one week. But considering that $GFOX is still in its early presale Stage 3, there’s far more room for growth and no risk of an impending price drop. On the contrary, $GFOX will soon see a scheduled price increase of nearly 20% in less than a month as its presale Stage 3 is nearly sold-out already.&nbsp;
<figure class="wp-block-image size-large"><a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=capatlcoin&amp;utm_content=58" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" width="1024" height="95" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-1024x95.png" alt="" class="wp-image-396120" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-1024x95.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-300x28.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-765x71.png 765w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-1536x143.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-2048x190.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-1617x150.png 1617w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-100x9.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285-788x73.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-285.png 970w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
</figure>
<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=capatlcoin&amp;utm_content=58" target="_blank" rel="noopener noreferrer nofollow"></a>
Memecoin with a Mission
Galaxy Fox has been turning heads as this new ICO gem soars to $800,000 and is fast closing in on $1 million. Many analysts are calling it one of the top ICOs of 2023. This play-to-earn token has introduced straightforward passive income diverging from the classical P2E model. Instead of just the top players earning, all $GFOX holders can increase their crypto stack in this ecosystem. Stargate, the protocol’s rewards hub, accrues 2% of all ecosystem transactions. The use of taxes instead of emissions means no dilution for early token holders, which is another reason why $GFOX is being shortlisted as one of the top ICOs of 2023. Galaxy Fox’s final aim of becoming a widely adopted currency across DeFi, in conjunction with its impressive roadmap, has been a core factor drawing investors into the presale. One exciting approach expected to ignite long-tail growth is the protocol routing 2% of buy and sell taxes to fund community initiatives and marketing efforts. It’s easy to see why investors are piling into the presale, and why it could shape up to be a major contender in both the memecoin and GameFi spaces.
Conclusion
Whether $BONK is just taking a breather or a more serious pull-back is hard to say. Given the current state of euphoria in the market, technical analysis has its limitations and enthusiasm can cause a coin to defy the traditional laws of gravity that would otherwise cool overheated rallies. But these are interesting times in the crypto market, and $BONK undoubtedly still has a few surprises left up its sleeve.&nbsp;
But what’s clear is that there is significant risk to the downside, and chasing runaway trains isn’t the most sound financial advice. So it’s probably best to take a “wait and see” attitude towards $BONK, instead of getting caught up in the FOMO. Meanwhile, $GFOX is looking just as impressive,and has significantly less risk given the early stages of its presale. It’s like buying $BONK back before its retail launch – something most investors are kicking themselves they didn’t do when they had the chance. But now you have that opportunity with $GFOX. So don’t miss out!
Learn more about $GFOX here:
<a href="https://galaxyfox.io/?utm_source=web&amp;utm_medium=pr&amp;utm_campaign=capatlcoin&amp;utm_content=58" target="_blank" rel="noopener noreferrer nofollow">Visit Galaxy Fox Presale</a> | <a href="https://t.me/galaxyfoxtoken" target="_blank" rel="noopener noreferrer nofollow">Join the Community</a>
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The post <a href="https://captainaltcoin.com/bonk-sees-12-dip-galaxy-fox-presale-doubles-to-800k-in-a-week-is-bonk-losing-its-bounce/" rel="noopener noreferrer nofollow">Bonk Sees 12% Dip; Galaxy Fox Presale Doubles To $800K In a Week. Is Bonk Losing Its Bounce?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.

Bonk Sees 12% Dip; Galaxy Fox Presale Doubles To $800K In a Week. Is Bonk Losing Its Bounce?

CaptainAltcoin

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