Memes Roar Back! BTC Rallies Towards $50K; DOGE & BONK Soar as GFOX Closes in on $4Million

Memecoins roar back! Dogecoin (DOGE) and Bonk (BONK) soar as Galaxy Fox (GFOX) closes in on $4 million. The market leader of the top ten cryptocurrencies, Bitcoin (BTC), is driving this impressive performance.

As BTC rallies towards $50K, memecoins are posting serious gains, with BONK up nearly 25% in the last seven days and GFOX closing in on another 15% price leap.

Bitcoin dominates the market, and its trending direction dictates market direction. BTC breaking past $46,000 for the first time since Spot ETF approvals marked a shift in direction. And Spot ETF demand is driving this demand. ETF trading makes up 15% of the total volume, and on Thursday, the 8th of February, combined inflows were $403 million. Liquidity is migrating on-chain, and investors have an increasing appetite to take risks, as demonstrated by memecoins’ recent performance.

Bitcoin (BTC) Rallies Toward $50,000 While DOGE & BONK Soar

Bitcoin has climbed more than 12% weekly- a staggering feat for such a large asset. Now, crypto investors can forget about BTC leading the top 10 crypto coins. It is ranked globally as the tenth-largest asset class. Demand from ETF issuers is driving this movement. Total inflows to ETFs have already exceeded $2.1 billion since launching on January 11th and already own 3.8% of the circulating supply.

If demand stays constant, there will simply not be enough BTC for all buyers, and the price will continue to appreciate. BTC’s qualities as a bearer asset and a store of value make it the digital equivalent of gold, and demand from institutional buyers solidifies its position as the leading crypto for beginners.

Bitcoin’s positive price action has lifted the rest of the markets up and BONK is up nearly 25$ on the weekly, and DOGE shows signs of resurgence, already up almost 4% on the weekly. Memecoins breaking out has historically signaled the start of a capital rotation to altcoins.

Galaxy Fox (GFOX) Closes In On $4 Million

Galaxy Fox closes in on $4 million, and the total funding for ICOs continues climbing. Galaxy Fox is a hybrid token design taking elements from the memecoin and play-to-earn genres. Its meme

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