- Shiba Inu burned billions of tokens in January.
- BONK could fall further amid growing competition from meme coin rivals.
- NuggetRush (NUGX) could become the most in-demand play-to-earn network after its 80% price increase.
The price of SHIB is still struggling despite over 9 billion SHIB tokens being burned by Shiba Inu in January 2024. On the other hand, competition from other meme coins could push BONK down in the market.
Now, investors see NuggetRush (NUGX) as a last hope to secure stable returns and gold rewards. The project has sold nearly 169 million tokens. Yet, can NUGX become a better investment than top altcoins like SHIB and BONK? Let’s hear from market experts.
NuggetRush: matching expectations with high-value gold rewards
Speculation in the NFT gaming industry is rising NuggetRush prepares to launch the first-ever blockchain mining game. While gamers are thrilled by the prospect of an immersive strategy-based game, investors and crypto enthusiasts are more excited about earning NFT rewards that can be traded for real gold.
NuggetRush players primarily aim to become the game’s best miners and sit atop its leaderboard. To achieve this, players will set off on their journey with only miners and equipment while upgrading them as they progress.&
With better NFT characters and machinery, a player’s& mining efficiency will increase, boosting their chances of completing quests and earning financial rewards.
As for wealth-building,& NuggetRush (NUGX)& offers& staking and trading of NFT assets. Rare in-game rewards called RUSHGEMS can be swapped for real-world gold at the game’s P2P marketplace. On the other hand,& NuggetRush (NUGX)& players can& earn up to 20% APY& rewards by staking their NFT assets.
NuggetRush is now in the last phases of its presale, and investors have already swooped up over 168 million NUGX tokens. In that time, NUGX’s price has risen by 80%, moving from $0.010 in round one to $0.018 by round five of its presale.&
Investors are already anticipating another 11.1% rise to $0.020 as NUGX is gearing up for its listing. Furthermore, it is showing strong signs of becoming one of the top DeFi projects.
Shiba Inu burns 9 billion tokens
Shiba Inu has kept its word of increasing the SHIB burn rate in 2024. Reports from ShibaScan show that Shiba Inu has burned over 9 billion tokens in January 2024. It comes amid the widespread bearishness that has suffocated the progress of many altcoins.&
Shiba Inu (SHIB) has also& succumbed to the bearish pressure. As of January 1, SHIB traded at $0.00001069. It fell by 10.9% to $0.000009516 on January 17. SHIB fell by 6.8% to $0.000008861 on January 25, before recovering by 3.8% to $0.0000092 by January 30.
Shiba Inu (SHIB) first unveiled its policy of increased token burns in late 2023, following the launch of Shibarium.&
Furthermore, Shibarium’s network activity has risen since the end of 2023,& increasing demand for Shiba Inu’s services. This could push Shiba Inu’s SHIB token up by 52.3% to $0.00001402. Analysts say Shiba Inu’s (SHIB) increased token burn rate could make it one of the& top crypto coins.
BONK expects competition from meme coin rivals
BONK has& enjoyed spectacular growth& in the past few months. Yet, the network is gearing up for a possible downturn amid competition from community-driven meme coins. In late January 2024, meme coin investor sentiment rose for networks like Dogwifhat.
Despite the market-wide price drop-off, BONK& remained very popular& among many crypto users. It traded at $0.00001494 on January 1. BONK jumped by 19.5% to $0.00001202 on January 18 before falling by 6.3% to $0.00001126 on January 30.
BONK could rise further if the meme coin sector& reaches its 2023 highs. The network has already upgraded its mobile wallet features to allow smooth and seamless trading of tokens. This could further& boost BONK’s trading activity& while pushing its price to $0.00001509.
For more information bout the NuggetRush presale, visit the NuggetRush Presale Website.
The post Why experienced investors are turning to NuggetRush amidst the meme coin frenzy? appeared first on CoinJournal.
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