Market Spotlight: The Emerging Challenger Set to Outpace Shiba Inu and PEPE in the Meme Coin Realm

Last updated: December 14, 2023 21:16 EST
. 3 min read

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TLDR

Shiba Inu (SHIB) network activity is on the rise due to the popularity of its Shibarium services.
PEPE’s market capitalization is also on an impressive increase.
NuggetRush’s (NUGX) mining adventure has generated high interest after its 30% presale growth.

Demand for Shiba Inu’s (SHIB) layer-2 network has risen sharply in the past few weeks. Likewise, PEPE has also witnessed increased investor sentiment, leading to a sharp bullish rise.

Yet, NuggetRush and its mining adventure could threaten the market performance of both tokens. NuggetRush (NUGX) has already grown by 30%. Yet, will that make NUGX one of the top crypto coins to buy? Let’s discuss.

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NuggetRush: Mining Adventure Set to Offer NFT Staking

NuggetRush (NUGX) is a P2E meme game that offers a classic artisanal mining experience filled with gold rewards. The game features several mining challenges and tasks. Players have an overall aim to build a booming business out of their mining operations. They will get help from character NFTs, skilled in mining and entrepreneurship. Furthermore, players will earn rewards for completing mining challenges.

NuggetRush (NUGX) offers several game modes, making a more rewarding mining experience. Players can enjoy solo missions, earning high-value rewards like NFTs and in-game funds. It also gives out valuable rewards for participating in group challenges. Aside from higher rewards, players also get increased mining efficiency, which could further boost their reward eligibility.

NuggetRush (NUGX) NFTs can be staked. This means players do not need to sell their NFT holdings before earning money from their gaming activity. Furthermore, players can win gold by collecting and swapping special NFTs called RUSHGEMs.

NuggetRush (NUGX) has established partnerships that would facilitate easy delivery of RUSHGEM rewards to players in the game. Furthermore, some proceeds from the mining adventures will go to artisanal mining efforts in smaller countries.

NuggetRush’s (NUGX) blockchain ICO has sold almost 80 million tokens. NUGX’s value has also jumped by 30% since the start of its presale. Its initial value was $0.010. Yet, it has grown by 30% to $0.013. NUGX will then get listed when its value appreciates to $0.02.

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Shiba Inu Continues Impressive Market Performance Amid High Demand for Shibarium

Shiba Inu (SHIB) has continued its November rise amid strong network performance and recurrent token burns. Furthermore, the growing adoption of Shibarium has led to increased popularity for Shiba Inu (SHIB). A recent network scan of Shibarium showed it had completed over 73 million transactions with an average block time of 5.0s.

This further increased trading activity on Shiba Inu (SHIB) in November and December. SHIB was trading at $0.000007954 on November 1. Four weeks later, it had risen by 4.2% to $0.000008294 on November 30. SHIB then soared by 20.6% to $0.00001001 by December 9.

Excitement is growing within Shiba Inu’s (SHIB) community as its founder has teased a major upcoming announcement. Some rumors say it could be the inclusion of Shiba Inu’s BONE token in its recent token burns.

Since the launch of Shibarium, Shiba Inu has continuously increased its token burn rate. Some analysts say this will increase demand for Shiba Inu (SHIB) tokens via increased scarcity. This could further push SHIB’s price up by 39.9% to $0.00001401. If Shiba Inu rises further, it might be one of the best DeFi projects.

PEPE’s Market Capitalization Nears $700 Million

Pepe has made a massive resurgence in the final quarter of 2023 as its trading activity and coin value have jumped significantly. The project suffered a rug pull in August, reducing investor confidence and trading activity.

However, the recent bullishness in the crypto market has contributed significantly to PEPE’s resurgence. PEPE was trading at $0.000001186 by the start of November. Over a month later, PEPE rose by 28.4% to $0.000001523 on December 9.

Another sign of PEPE’s growth is its rising market capitalization. Data from CoinMarketCap has shown that PEPE’s market capitalization has risen by nearly $400 million since mid-October, reaching $636 by December. Analysts expect PEPE’s growth to continue due to the current bullishness in the market. They conclude that PEPE could rise by 45.9% to $0.000002223 by early 2024.

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