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In a volatile week for cryptocurrencies, Solana (SOL) briefly surpassed the $200 mark, boosted by enthusiasm for meme coins, while the new Galaxy Fox project aims to have a significant impact on the GameFi and memecoin sectors.
BOME exploded after a brief pullback, then crashed again as the market took a nosedive. Meanwhile, a new project called Galaxy Fox is causing quite a stir on the pre-sale scene. Let's dive into what's happening with BOME and SOL, then explore why Galaxy Fox's potential.
BOME: A meme coin with a bite
BOME, another popular meme coin built on Solana, recently made headlines for its impressive performance at the time of its launch.
However, it took a bit of a break after its epic rally, falling nearly 50% on March 16. This sent shivers down the spines of some investors, but just as the bulls took control, btc suffered another drop, causing the BOME price to drop another 15%.
Interestingly, as the BOME price fell on March 17, short seller activity increased. This suggests that some investors saw an opportunity to profit from the volatility.
However, BOME quickly recovered, potentially burning short sellers slightly. At the time of writing, it is priced at $0.01069, a drop of 15% in the last 24 hours. However, expect this coin to be a rollercoaster ride as the market experiences a period of high volatility.
SOL soars with the magic of coins meme
Solana enjoyed a fantastic week before also falling victim to the last downtown market. SOL shot up 45% recently, hitting highs above $200 for the first time since December 2021 before falling back to the $180 level, where it sits at the time of writing.
This impressive rally is likely driven by renewed interest in the DeFi ecosystem from Solana, whose trading volume has increased tenfold over the past year.
Galaxy Fox: GameFi's meme/power coin
Galaxy Fox is positioning itself as a major player in the GameFi and memecoin markets. Combining the classic appeal of meme coins with play-to-earn (P2E) elements and nft integration, Galaxy Fox aims to deliver engaging gameplay and a rewarding experience.
Its focus includes nft collectibles that enhance gameplay and a competitive ecosystem with attractive rewards for players.
Galaxy Fox's strategy reflects a shift in the blockchain gaming industry toward mobile-friendly games that prioritize accessibility and user engagement over the complexity of AAA titles. Galaxy Fox is poised for significant growth with strong pre-sales and a vibrant community.
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