Meme Coin Resurgence On The Way, and Is This The New Leader?
Buffalo
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October 29, 2023 03:23 PM Eastern Daylight Time
There is little doubt that meme coins are a crucial part of crypto. They might be considered "jokes" without utility, but a revolution is happening.
TL;DR:
- Meme coins are worth over $16 billion and continue to rise in value.
- Top meme coins, including Dogecoin and Shiba Inu, were hit hard by crypto bears in 2022, but there is a revival with emerging projects.
- NuggetRush is a new meme coin project that's breaking into the scene with unique offerings and a desire to add utility to meme coins.
Looking at market cap alone, meme coins are worth upwards of $16 billion, and the value keeps on rising as creators innovate, aiming to fuse enhanced functionality and fun while using the same old crypto rails for security and accessibility.
In 2022, top crypto coins and meme projects, including Dogecoin (DOGE) and Shiba Inu (SHIB), were battered by crypto bears, losing over 85% of their 2021 peaks.
However, looking at recent events, there is a revival on-course with emerging projects, including PepeCoin (PEPE) and a new entrant, NuggetRush (NUGX), dominating headlines and attracting supporters across the crypto divide.
The questions are: With Bitcoin and crypto prices bottoming up and breaking higher from 2022 and 2023 pits, will the uptrend be sustained to trigger resurgence in the meme coin scene?
Will ambitious meme coin projects like NuggetRush draw benefits and raise millions in their ongoing presale?
This article looks to find answers:
The Meme Coin Revival
To have a clearer understanding, we have to cycle back. Dogecoin is the first meme coin, created as a joke based on the Shiba Inu dog. It has since floated higher and is a top-20 coin by market cap.
Dogecoin's surge to emerge as a top crypto is partly because of celebrity support and Elon Musk, the billionaire leader of Tesla and SpaceX, and the owner of X, the social media platform.
With Bitcoin and Ethereum prices rising, DOGE is up 30% from October lows, clearing above the critical resistance level. Optimists expect DOGE to reclaim 2021 highs of around $0.78; an elusive target.
While Dogecoin bulls are buoyant, Shiba Inu continues to build, diversifying their base. Their primary objective is to expand on Shibarium, a scaling solution forked from Polygon.
The team expects Shibarium to offer relief for its holders and developers looking to build on this platform.
Despite the initial hype, SHIB, the native token of Shiba Inu; and BONE, the token priming Shibarium, have remained under pressure. Even so, experts doubt the recent upswing until there is a sharp close above August 2023 highs.
Market observers expect meme coins to be driven by other facets of crypto, including decentralized finance (DeFi) and non-fungible tokens (NFTs).
Modern meme coins like NuggetRush have integrated these elements into their operations, giving them an edge and, most importantly, increasing the utility of their native ERC-20 coin, NUGX.
Is NuggetRush The New Leader?
For the approach adopted by NuggetRush (NUGX), especially their desire to add utility to meme coins, NUGX stands to gain in the next bull run making it a top crypto to buy for astute investors.
NuggetRush is building a play-to-earn (P2E) game where meme coin fans can participate, monetizing their skills when earning rewards.
While NUGX is a meme coin, adding the P2E game to the equation and merging NFTs and DeFi elements means the token has more utility. At the core, NUGX will be used to distribute rewards for gamers while concurrently helping deserving artisanal miners.
NuggetRush gaming characters are available as NFTs, and players can customize their own. The difference is that once they have them, they can stake them, earning up to 20% APY.
The NuggetRush presale is ongoing. In this top ICO, over 15 million NUGX have been sold, each at 0.010 USDT, in Stage 1. However, the token could list at $0.020, meaning early adopters stand to double their initial investment on launch day.
Conclusion
The broader crypto market revival appears to be drawing more people to consider meme coins. Dogecoin and other legacy projects are popular, but NuggetRush is breaking into the scene, partly thanks to its unique offerings and desire to add utility. For this reason, some investors say NUGX is one of the best crypto to buy now. Thus far, more investors are exploring the project, with some considering NUGX as they diversify their portfolios.
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