What you'll learn 👉
TLDR
- Shiba Inu has increased its SHIB token burn rate since the launch of the Shibarium upgrade.
- NuggetRush (NUGX) has announced the upcoming release of a new innovative play-to-earn mining game.
- Dogecoin (DOGE) is expected to make major price movements following its November upgrade.
Recent trends show that investor appetite for meme coins is growing. Now, analysts are looking for the best meme coins to invest in. After Shibarium’s launch, Shiba Inu has increased its token burn rate. Shiba Inu hopes to boost SHIB’s value with its continued token burns.
Likewise, Dogecoin could break above $0.08 due to its November upgrade. Still, analysts say a better meme coin investment would be NuggetRush (NUGX) – a play-to-earn game with high reward potential. Which meme coin will emerge as the best cryptocurrency investment? Let’s talk about it.
Shiba Inu Whales Move Millions of SHIB Tokens as Burn Rate Increases
Since Shiba Inu launched the Shibarium protocol in early August, the burn rate of SHIB tokens has risen considerably. This past week, data from Whale Alert showed significant token movements by Shiba Inu (SHIB) to various crypto exchanges.
Shiba Inu’s whale movements coincided with SHIB’s struggle to break above the $0.08 mark. SHIB was trading at $0.000007320 on October 1. By October 30, SHIB had closed at $0.000007983, rising by 9.0%.
Shiba Inu (SHIB) has already hinted at further increases to its token burn rate. Analysts hope the token burns could boost Shiba Inu’s market performance. This could increase SHIB’s value by 25.0% to $0.000009983. Such a significant price increase could make SHIB one of the top altcoins.
NuggetRush (NUGX) Causes Token Rush Among Play-to-Earn Gaming Faithfuls
Play-to-earn gaming is the future of video-gaming. Yet, the available options cater to a small section of the gaming industry. However, that narrative is changing with the upcoming launch of NuggetRush’s mining game. Like other play-to-earn games, NuggetRush (NUGX) focuses on creating a community of gamers, investors, and mining enthusiasts.
The game ensures its mining adventure is scarcely different from the real experience. It features common aspects of mining, like soil sampling, geophysical surveys, and basic prospecting techniques.
Players must complete various tasks, including digging shafts and operating machinery to extract valuable minerals and assets.
NuggetRush (NUGX) also pays a great deal of attention to the pathways to winning financial rewards on its platform. At the most basic level, players win NFT characters for building and expanding their own mining business.
Players also receive rewards for completing quests, challenges, ranked play, and even battles. To further increase winning chances, NuggetRush (NUGX) allows the formation of partnerships that can boost the effectiveness of mining operations.
Many gamers are eager to start exploring NuggetRush’s (NUGX) ecosystem. However, they must wait until the end of NUGX’s blockchain ICO. The project just entered stage 2 of its presale.
Its current price is $0.0120. By the next stage of its presale, NUGX’s value will jump even higher. When NUGX’s value rises to $0.020, the team will launch the mining game!
Dogecoin (DOGE) Could Break Above $0.07 Following its November Upgrade
Dogecoin (DOGE) has announced that its network will be undergoing upgrades on November 1, 2023. The upgrades would focus on increasing stability and scalability. The Dogecoin upgrades coincide with DOGE’s ongoing struggle to break out of its current stagnation.
Dogecoin has struggled to maintain bullishness in October. DOGE was trading at $0.0631 on October 1. DOGE rose by 13.7% to $0.0718 by October 26. Yet, DOGE fell by 5.0% to $0.0682 on October 31.
The sharp decline in investor sentiment for meme coins in 2023 worsened Dogecoin’s (DOGE) market struggles. Despite the popularity of meme coins in Q2, 2023, the industry has lost billions of dollars worth of value.
For instance, Dogecoin’s (DOGE) market capitalization has dropped by over $2 billion since January 2023. Some analysts say Dogecoin’s upgrades could boost its market performance, causing DOGE to rise by 15.6% to $0.0789.
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