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Will meme coins become the dominant narrative in this cycle? Most market verticals need two bull markets to flourish fully. Speculative interest during the first provides the capital foundation for growth.
Then, in the second cycle, the narrative hits full speed. The wild success of Dogecoin (DOGE) and Shiba Inu (SHIB) in the last cycle paved the way for a new generation of memecoins.
One trader made $225K in a week from Bork (BORK) memecoin with only four Solana (SOL). Meanwhile, Galaxy Fox (GFOX) is up to $2.3 million.
A once-in-a-lifetime trade on Bork
Getting in early to meme coins is how investors make big gains.
Looking at on-chain trading data for BORK shows that one trader made $225,000. Well over 500X on their initial investment.
This trader traded four SOL for 1.2 billion BORK. They timed it perfectly, buying within ten minutes of listing.
Bork is a relatively run-of-the-mill meme token with locked liquidity aiming to become a “Bonk Killer.”
Since its breakout success, Bork has since pivoted to operating a Solana validator.
Galaxy Fox is approaching stage 7 of presale
Galaxy Fox is currently in its presale.
It diverges from the classic meme coin model and uses a hybrid approach. Instead of blind speculation, this ecosystem introduces earning mechanisms and entertainment for token holders.
As it enters stage 7, the project has raised $2.3 million, where GFOX prices will rise by 15%.
After the TGE, all GFOX holders can stake via the Stargate module.
This staking hub gathers 2% of all ecosystem transactions, and stakers will receive payouts as the price discovery phase begins.
All trading action equates to increased yield for these lucky stakers.
Beyond staking, GFOX is also deflationary, which may support future prices.
Closing thoughts
The popularity of memecoins has surged in recent years, driven by a combination of factors, including the permissionless nature of blockchains and the anticipation of the 2024 bull market.
Meme coins allow for around-the-clock speculation, and with the increasing adoption of cryptocurrency, this activity is only expected to grow.
This skill-based arena rewards those who move quickly and seize opportunities.
The Galaxy Fox presale is ongoing, with experts optimistic of more gains on launch.
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Source: https://crypto.news/trader-makes-225k-from-bork-memecoin-gfox-presale-raises-2-3m/