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When Dogecoin first appeared, no one would have thought it would make such a phenomenal splash in the market nor such a lasting one. Over the years, it grew from $0.0000869 in 2015 to ATH of $0.731578 in 2021, shocking many people. Naturally, everyone's now looking for the next big hit like $DOGE, hoping to become rich with another unexpected success story.
But it's not just about meme coins. There's a whole world of other altcoins out there that could be just as promising. Finding such crypto stars might seem overwhelming for someone just starting, but it's doable with the right methods and careful observation.
In this guide, we'll cover important things to consider when hunting for the best altcoins to buy.
Guide to Spotting Crypto Stars
Analysis of the potential of any crypto starts with its price. Bitcoin and Ethereum are undoubtedly the biggest market players, but their massive price mark could be a bit uninviting for many. So, when searching for new stars, investors usually look at smaller-cap cryptos. These new gems have huge room for growth and offer easy entry opportunities on any budget.
The next thing that comes after the price is the adoption rate. If a token brings something new to the table or meets a specific need, it's more likely to catch people's attention and increase in value.
Tokenomics and supply are other important factors to consider. Usually, currencies with deflationary tokenomics enjoy steady price increases as their scarcity level surges and the token becomes more valuable. Inflationary assets, on the other hand, may fail to grow since new tokens will always be issued and dilute the value of existing ones.
Market trends and trade volume are other metrics to monitor. Rising trading volume can indicate more people are interested, which might cause prices to rise. However, make sure you can distinguish short-term hypes from long-term steady growth.
Equally important is community support and the developers behind it. The top 10 altcoins have an active, engaged community and a deeply committed team to their project's future. This dedication often points to a crypto's potential for long-term success.
Technology innovation is another important point to consider. The best altcoins to buy usually introduce new features or improve existing blockchain technology. These are the ones that have a real shot at standing out in a crowded market.
Last but not least, looking at the crypto's licensing and audit status is mandatory. Sadly, the industry has its share of shady dealings, so it's very important to tell the difference between fake and legitimate assets.
When you combine these elements, you get a crypto asset that's both reliable and exciting. Such an asset is more likely to weather market fluctuations and stand out in the long run.
Galaxy Fox as a Potential Crypto Star
Lately, Galaxy Fox has become very popular in the crypto universe. As it moves through its presale stages, the coin has seen a notable increase in value, with a 165% rise.
This growth is due to its unique pricing strategy, where prices increase at each new presale stage. Out of ten planned stages, six have already been completed, drawing in many investors and boosting the coin's adoption rate. 2 billion of the total tokens are already sold, so there's a clear interest in what Galaxy Fox offers.
In terms of tokenomics, this new ICO crypto has a limited supply of 5 billion tokens. It also features deflationary burning strategies, which are expected to reduce supply more and increase the token's value over time. This is a smart move in the crypto space, where supply dynamics play a fundamental role in a token's appreciation.
The most exciting part of the project is its play-to-earn game. It's a simple yet fun runner game that has caught players' attention. Everyone tries to climb up the leaderboard in the game, and the top 20% of players get a piece of the prize pool. This unique P2E concept means that Galaxy Fox is not only following the trends but also outperforming other GameFi projects and establishing something unique and innovative.
In terms of credibility, Galaxy Fox has obtained an audit badge from the Crypto Hub Web3 auditing company, which raises the bar for security and trust. Galaxy Fox's crew has also been KYC-verified and certified, giving investors even more peace of mind.
Final Takeaway
Finding the next big crypto is the process of continuous research and analysis of a wide range of factors. Galaxy Fox has a lot of support since it meets all the necessary criteria and has great ambitions for future expansion. While it still has a lot to prove to its community, currently, $GFOX is one of the best altcoins to buy and keep an eye on as it continues to climb in value.
Learn more about $GFOX here:
Visit Galaxy Fox Presale | Join the Community
Memecoin market is saturated with silly dog coin knock-offs and dodgy Pepe joke coins. What was once a thriving and fun-filled space has lately devolved into a wasteland of coins that lack real utility or serious development or even something just to make you laugh, like OG memcoins of the past Doge and Shiba Inu once inspired.
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View source version on newsdirect.com: https://newsdirect.com/news/spotting-the-next-doge-a-beginners-guide-to-finding-undiscovered-crypto-stars-973129683
RoundHouse Media
COMTEX_445735100/2655/2024-01-01T14:00:22
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Smart Herald journalist was involved in the writing and production of this article.