- Top Shiba Inu (SHIB) addresses have accumulated more coins over the past two months, with holdings increasing from 493.42 trillion to 497.11 trillion by February 7, 2024.
- Dogecoin (DOGE) experiences a surprising surge in adoption as over 890,000 new wallets are created in the first week of February 2024.
- NuggetRush (NUGX) is an NFT gaming platform on the Ethereum blockchain, combining gold mining, crypto, and artisanal mining experiences for gamers worldwide.
The cryptocurrency market keeps evolving, and three notable players have recently captivated the attention of investors and enthusiasts. Shiba Inu (SHIB), Dogecoin (DOGE), and NuggetRush (NUGX) each bring unique narratives and developments that shed light on the diverse and dynamic nature of the crypto space.
Amid the dropping interest in Dogecoin and Shiba Inu, here is why NuggetRush is causing a buzz in the market.
SHIB whales’ strategic accumulation and Shibarium Network advancements
On February 7, 2024, reports emerged that top non-exchange Shiba Inu (SHIB) addresses accumulated lots of coins in the past two months. Santiment’s on-chain data and crypto news highlighted that Shiba Inu (SHIB) supply held by these addresses was 493.42 trillion on December 14, 2023.
By February 7, an analysis of the metric showed that it had increased to 497.11 trillion Shiba Inu (SHIB) tokens. The increased holding indicated that these top Shiba Inu whales were not bothered about SHIB’s near-term volatility. Instead, the whales seem focused on the long-term tokenomics of the meme coin.
Interestingly, the amount of Shiba Inu (SHIB) available on exchanges has reduced, which means minimal selling pressure in the current bullish momentum. The hodlers are not selling their tokens.
Elsewhere, Shiba Inu’s (SHIB) team announced a notable development in the Shibarium network through a partnership with K9 Finance. The partnership aims to launch Liquid Staking Derivatives (LSD) to boost flexibility and liquidity for BONE token users.
On February 8, Shiba Inu (SHIB) was trading at $0.000009099, up 2.54% in the past week. Experts say Shiba Inu (SHIB) will rise to $0.000009185 by the end of February, powered by developments on its network.
Dogecoin (DOGE) records 890,000 new wallets
Dogecoin’s (DOGE) adoption trend surprised the crypto space after the number of new wallets created on the platform exploded. In the first week of February 2024, new Dogecoin wallet creations gained investors’ attention, with over 890,000 new DOGE wallets added. This time around, it seems a new Dogecoin (DOGE) metric is taking centre stage.
In a recent report, Santiment highlighted the rapid growth in one Dogecoin metric where the number of new non-zero DOGE addresses is increasing rapidly. Interestingly, the rapid surge in the adoption of Dogecoin happened when DOGE’s price was struggling to hold up in the market.
The rise in Dogecoin adoption did not have an automatic positive effect on the price of DOGE. That means there was no increased demand among the investors. The new DOGE wallets were likely created by existing users looking to benefit from the new DRC-20 token standard on the network.
On February 8, Dogecoin (DOGE) was trading at $0.07998, up 1.29% in the past week. Experts believe Dogecoin (DOGE) will rise to $0.08255 by the end of the month, underpinned by an increased adoption rate.
NuggetRush (NUGX) revolutionizing gaming with NFTs
NuggetRush (NUGX) is an NFT gaming platform well-designed with a blend of gold mining, crypto, and artisanal mining experiences to create a thrilling adventure. The project runs on the Ethereum blockchain, making it secure, transparent, and accessible to gamers worldwide.
For gamers seeking investment opportunities to earn valuable in-game assets and make a notable impact by supporting artisanal miners in undeveloped countries, NuggetRush (NUGX) is a great option. Interestingly, NuggetRush has cool NFT characters that are collectible, helping increase the value and depth of its gameplay.
Notably, NuggetRush (NUGX) is designed with a supply of 500 million tokens, a significantly low amount for a meme coin. Experts say its meme tokenomics concept will guarantee its value will keep increasing after it is listed on mainstream exchanges.
NUGX is the governance token for NuggetRush’s ecosystem, enabling investors to influence the project’s development and fostering a decentralized, community-owned initiative.
Hence, NuggetRush (NUGX) is a crypto project striving to restructure how community involvement and gaming interact.
NuggetRush (NUGX) is currently in round 5 of its presale, valued at $0.018 per token. Impressively, NuggetRush has had a great presale experience, selling over 173 million NUGX tokens and raising over $2.1 million.
NUGX is scheduled to list on mainstream exchanges at the end of round 5 of the presale, valued at $0.020. Its growth potential after launch sparked an investor frenzy, making it the best crypto investment in 2024.
For more information about NuggetRush, visit NuggetRush Presale Website.
The post Amid declining interest in Shiba Inu and Dogecoin, NuggetRush’s presale sparks investor frenzy appeared first on CoinJournal.
