What Is Wrong With this Code? What Does This Error Mean?

I'm trying to make a Gui play a small 3 frame GIF as it loads the assets.

I made a function that does this but it's not working, for some reason it doesn't change the value it's supposed to and stays on the first frame.

Here is the code:

local player = game.Players.LocalPlayer
local loaded = false
local screen = script.Parent
local bg = screen:WaitForChild("LoadingBG")
local spinner = bg:WaitForChild("Spinner")
local text = bg:WaitForChild("Percentage")
local frame = game:GetService("RunService").RenderStepped
local cProvider = game:GetService("ContentProvider")
local LoadBG = script.Parent:WaitForChild('LoadingBG')

local loadAssets = {"224916606", --Loading Spinner
					--"227793776","227796482", --Item Boxes
					"201858144","188242039", --Vehicle Sounds
					"31402133", --Checker pattern,
					"188304771", --Title theme
					"258950712", -- Title image
					"229077998","229078044","229078066", '429156109', '429156538', -- Title buttons
					'429156414',              }
for _,v in pairs(loadAssets) do
	cProvider:Preload("rbxassetid://" .. v)
end
wait()
local divideBy = cProvider.RequestQueueSize


function fadeIn()
	
	bg.BackgroundTransparency=0
	spinner.ImageTransparency=1
	text.TextTransparency=1
	for i=1,120 do
		LoadBG.GuiVal.Value = LoadBG.GuiVal.Value + 1
		spinner.ImageTransparency = 1-i/120
		text.TextTransparency = 1-i/120
		frame:wait()
	end
	spinner.ImageTransparency=0
	text.TextTransparency=0
end

LoadBG.GuiVal.Changed:connect(function()
	
	LoadBG.GuiVal.Value = LoadBG.GuiVal.Value + 1
	if LoadBG.GuiVal.Value > 3 then 
		LoadBG.GuiVal.Value = 1 
	elseif LoadBG.GuiVal.Value == 1 then 
		LoadBG.Spinner.ImageTransparency = 0
		print('Changed')
	elseif LoadBG.GuiVal == 2 then 
		LoadBG.Spinner2.ImageTransparency = 0
		LoadBG.Spinner.ImageTransparency = 1
		print('Changed2')
	elseif LoadBG.GuiVal == 3 then
		print('Changed3')
		LoadBG.Spinner2.ImageTransparency = 1
		LoadBG.Spinner3.ImageTransparency = 0
end

end)


function update()
	--spinner.Rotation = spinner.Rotation + 1
	
	

	
	
	text.Text = (math.max(0,math.ceil((1-cProvider.RequestQueueSize/divideBy)*100)) .. '%')

	if cProvider.RequestQueueSize<1 then
		loaded = true

	end
	
	frame:wait()
end
LoadBG.GuiVal.Value = LoadBG.GuiVal.Value + 1
repeat update()  until loaded== true

local soundX = require(game.ReplicatedStorage.SoundX)
local player=game.Players.LocalPlayer
function fadeOut()
	for i=1,120 do
		LoadBG.GuiVal.Value = LoadBG.GuiVal.Value + 1
		spinner.ImageTransparency = i/120
		text.TextTransparency = i/120
		frame:wait()
	end
	local m=soundX.playSong(player,"156020985")
	text.Text="Welcome to..."
	for i=1,30 do
		text.TextTransparency = 1-i/30
		frame:wait()
	end
	wait(2)
	for i=1,90 do
		text.TextTransparency = i/90
		frame:wait()
	end
	player.PlayerGui.TitleScreen.Frame.Visible=true
	player.PlayerGui.TitleScreen.Frame.Panning.Disabled=false
	screen:Destroy()
end
fadeOut()

Furthermore, it gives me a error. It says...

14:29:46.310 - Maximum event re-entrancy depth exceeded for IntValue.Changed 14:29:46.311 - While entering function defined in script 'ReplicatedFirst.Load.LoadScreen.LoadScr', line 41 14:29:46.311 - Maximum event re-entrancy depth exceeded for IntValue.Changed 14:29:46.312 - While entering function defined in script 'ReplicatedFirst.Load.LoadScreen.LoadScr', line 41

What does this mean?