Benzinga - Any crypto investor worth their salt has dreamed about catching a memecoin early. An early investment in a rocketing small cap, or a clutch allocation in an ICO. These are the great wealth-creation tools of the current generation.
Nowhere is this more visible than with Shiba Inu ($SHIB). We’ll take a look at how much $1,000 in $SHIB in 2020 is worth today. Can Galaxy Fox ($GFOX), a new memecoin, offer similar returns? Those looking to build wealth this cycle need to forget the top ten cryptocurrencies and dive into the realm of small caps and ICOs.
Catching Shiba Inu ($SHIB) Early: $1,000 Dollars in 2020 Equals What in 2023?
Catching a memecoin early still has the potential to create generational wealth. Although this seems absurd it is a reality that has already played out many times in crypto. How much would $1,000 invested in $SHIB on September 1st, 2020 be worth today? More than $130 million – a cool 10,200,000% rate of return.
If you invested $1000 today and $SHIB were to reclaim its all-time high, the total value would be a far more modest (though still impressive) $13,0000. Not life-changing rewards, but not too bad for a day’s work, either. The closest things to replicating that kind of crazy success in recent memory are the short-lived $PEPE rally just following its launch in April, and the $BONK phenomenon of the past two months.
In these situations, the difficulty comes from timing the sell order. Most investors holding $SHIB sold far too early to realize gains close to this. Or alternatively scaled into the buy with far less than $1,000. After all, who bids four figures on an unknown token?
This bull market will create a new slew of opportunities to generate staggering returns, and among the best cryptocurrencies to buy now is Galaxy Fox. A newcomer on the memecoin stage primed for explosive growth. Could it echo $SHIB’s early success?
Galaxy Fox ($GFOX) Early Momentum Indicates Potential
Galaxy Fox is burning through its presale and could potentially reach $500,000. As a memecoin with a sub $1 million market cap launching in bullish market conditions, it could be the perfect setup for potential.
This play-to-earn token even offers several distinct advantages over Shiba Inu from a value accrual perspective. In 2021, Shiba Inu zoomed toward the top ten cryptocurrencies but never quite made it. Its central value accrual mechanism? A colossal burn campaign.
The Galaxy Fox burn campaign constantly reduces the total supply of $GFOX on the open market but additionally, this cosmic ecosystem introduces staking rewards, allowing investors to earn native yield on a deflationary asset. Unlocking a simple source of passive income will drive buy pressure when mainstream market participants discover Galaxy Fox.
Some traders expect a drastic repricing post-launch, and the protocol Treasury has a pre-assigned marketing budget, which will help onboard thousands of new investors into the ecosystem.
Learning how to buy a new crypto before listing is an essential skill that investors need in the 2024/ 2025 bull market. As memecoin mania descends and easy capital flows into markets, small-cap gems like $GFOX look to outshine its competitors.
Closing Thoughts
The dream of becoming an overnight crypto millionaire is still part of what brings people into this space, especially when it comes to the kind of insane gains only possible in the world of memecoins. Like them or not, memecoins are a part of the crypto culture. At their heart, they’re a nod to the early cyberpunk roots of crypto – and done well, as in the case of quality projects like $DOGE, $SHIB and newcomer $GFOX, they provide fun, utility and legitimate use-cases.
Learn more about $GFOX here:
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This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.
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