TLDR
- Dogecoin is facing intense selling pressure even with its slight price recovery.
- The Bonk community has raised concerns about buyers needing to re-enter the scene promptly.
- NuggetRush has accumulated over $2.5 million in presale funds.
Amid the recent positive developments that have fueled investor excitement for the crypto market, the market showed signals of a momentary slowdown last week after many cryptocurrencies started seeing a decline in value. According to CoinGecko data, some top meme coins like Dogecoin (DOGE) and Bonk (BONK) were not an exception. Although their prices have started recovering, another new meme coin, NuggetRush (NUGX), generates a buzz with its presale and propositions, and many wonder if it could outperform Dogecoin and Bonk.
NuggetRush is a meme coin that is leading the way in merging game finance (GameFi), decentralized finance (DeFi), and blockchain technology models into its lucrative platform. By incorporating aspects of impact gaming, real-time income, cryptocurrency, and an enticing collection of trending NFTs (non-fungible tokens), the project aims to empower artisanal miners in underdeveloped countries. Let’s learn more about this new meme coin, well-positioned to surpass Dogecoin and Bonk.
What you'll learn 👉
NuggetRush (NUGX): The Appealing New Entrant
NuggetRush aims to bring more tangible utility to the meme coin ecosystem with its GameFi offering. The crypto combines cryptocurrency investment, gold mining, and artisanal mining into a P2E gaming platform with many opportunities for converting in-game assets to real-world commodities like gold or cash. Apart from being entertaining, NUGX seeks to promote its communities and aligns with impact gaming’s ethos.
A notable aspect of the NuggetRush game is its characters that function as gaming avatars and collectible NFTs. Holders can trade these NFTs on the NFT marketplace to earn. NuggetRush provides incentives for staking such trending NFTs and also initiates a governance token system, enabling NUGX holders to participate in the platform’s decision-making processes.
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Show more +There has been a rush to this top ICO, inducing an impressive sale of over 200 million tokens across five rounds. This confidence and trust large investors have shown in the presale has helped increase its value faster. NUGX is now up 80% from its initial DeFi coin price of $0.01 to $0.018. Thanks to the high demand for NuggetRush, the presale event has raised over $2.5 million in funding.
Dogecoin (DOGE): Struggling As Key On-Chain Metrics Turns Bearish
Dogecoin‘s critical on-chain metrics are negative, indicating increased selling pressure on the token. According to IntoTheBlock data, there’s been a significant drop in large transactions for Dogecoin, falling more than 50% from a high of 16.6 billion DOGE to just 5.4 billion DOGE; this may imply reduced interest from major investors. This decrease could lower volatility and reduce the chances of a bullish reversal.
Dogecoin’s 20-day Exponential Moving Average (EMA) is now at $0.085. It is on a downward trend, while the Relative Strength Index (RSI) has fallen below the midpoint to 43, indicating that sellers are gaining the upper hand. If Dogecoin remains below the moving averages, the situation points to a growing bearish mood. Falling beneath the support line at $0.08 could trigger a strong selling wave. Still, if buyers reverse the downward trajectory and push the price above the EMA levels, DOGE could aim upward toward the $0.09 resistance area.
Bonk (BONK): 58% Down From Price Peak
Bonk is a meme coin powered by the Solana (SOL) blockchain with a well-strategized tokenomics and burning mechanism to increase the value of BONK tokens over time. A factor contributing to Bonk‘s popularity was its viral and clever marketing campaign on TikTok, where it got established as the “meme coin for intellectuals.” All these led to a remarkable upsurge in Bonk‘s price as it peaked in December 2023.
Comparatively, the price is now about 58% lower than its all-time high (ATH) price. This notable downturn has raised some concerns within the BONK community, emphasizing the urgency for buyers to re-enter the scene promptly. The following moves by buyers will play a pivotal role in determining the trajectory of BONK‘s price action as the year progresses.
Conclusion
Dogecoin buyers are struggling to counter its selling pressure. Bonk, the meme coin powered by the popular Solana network, although still trading in the greens, recorded a drop from its ATH two months ago. Investors now seek small-cap emerging meme coins like NuggetRush with tangible utility and profitability potential to diversify their portfolios. NuggetRush continues to thrive as it has maintained its bullish trend in its top ICO, with investors bulk-buying the tokens.
Visit NuggetRush Presale Website
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