Fresh Meme Coin Gains Popularity Among Investors, Overshadowing XRP and Dogecoin

The post Fresh Meme Coin Gains Popularity Among Investors, Overshadowing XRP and Dogecoin appeared first on Coinpedia Fintech News

TLDR

• Ripple Labs could pay a fine for selling XRP to institutional investors.
• Daily new active addresses on Dogecoin (DOGE) have soared spectacularly.
• NuggetRush (NUGX) is now becoming a top-choice destination for winning exciting game rewards.

The SEC has demanded that Ripple Labs come clean over XRP sales from 2022 to 2023. Dogecoin has also recorded an increase in network activity.

Yet, NuggetRush (NUGX), a mining game that offers financial rewards each time you play, is attracting tons of crypto users. Many have purchased tokens in its presale. Yet, can NUGX outperform top altcoins like XRP and DOGE? Let’s discuss.

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NuggetRush: The P2E Network For Everyone

By 2028, the P2E gaming industry will expand considerably. Its market value already stands at USD 8,856.95 million. The industry’s strong growth is good news for investors and P2E gamers seeking new, exciting, and profitable projects to join. Unsurprisingly, news of NuggetRush’s NFT gaming release is already creating a mega buzz in the crypto industry.

NuggetRush (NUGX) is introducing the first-ever blockchain mining game. It promises an unmatched strategy-gaming experience with high-value financial rewards for dedicated players. Crypto investors are more captivated by NUGX’s stellar price jump.

On NuggetRush (NUGX), players build an efficient mining business. The general gameplay involves managing several capable NFT miners, collecting machinery, and utilizing real-world mining techniques. Successful players will receive more effective workers and machinery that boosts their operational efficiency.

Stakeholders eager to earn from NuggetRush (NUGX) have two primary ways. The first involves trading in-game NFT assets. Depending on their rarity, these assets can fetch a player low-to-high financial rewards. The secondary wealth-generation method on NuggetRush involves staking NFTs to receive a 20% APY reward.

Additionally, the NUGX token presents another opportunity for careful investors to make gains. Since round one of its presale, NUGX has sold over 168 million tokens. It has also grown by 80% in market value to reach $0.018 by round five of its presale. 

Investors are already pegging the token for another 11.1% price jump to reach $0.020 when NUGX gets listed. Analysts say the project’s unique features will make it one of the top DeFi projects.

Ripple Labs Could Pay Fines Over the Sale XRP to Institutional Investors

Many investors are predicting the likely outcomes of XRP’s battle against the Securities and Exchange Commission (SEC). One recurring notion among most predictions is that Ripple Labs will have to pay fines for selling XRP tokens to institutional investors. Earlier in July 2023, a federal Judge ruled that institutional sales of XRP could be considered securities.

Citing the judgment, the SEC is now asking a court to give it access to financial records of XRP sales. The ensuing chaos comes amid XRP’s struggle to return to the $0.60 region. XRP sold at $0.6254 on January 2. Nearly three weeks later, XRP fell by 12.6% to $0.5461 on January 21 before falling by 4.0% to $0.5241 on January 27.

Analysts say a settlement with the SEC might be in XRP’s best interest. A settlement will round up the legal proceedings, paving the way for investors to trade XRP altcoins freely. If such a scenario occurs, XRP could rise by 27.8% to $0.6700.

Dogecoin Records Network Activity Surge

On January 29, 2024, Dogecoin (DOGE) recorded increased network activity. Daily new addresses on Dogecoin hit an all-time high, reaching 247,240 on that day. Furthermore, it comes amid the growing popularity of Doginals, an Inscription protocol for Dogecoin (DOGE).

The surge in Dogecoin’s network activity follows DOGE’s recent decline. DOGE traded at $0.0912 on January 2. It fell by 12.3% to $0.07998 on January 14. DOGE fell by 2.5% to $0.07793 on January 25 before recovering by 4.3% to $0.08129 on January 29.

Dogecoin’s (DOGE) growing user count might not be unconnected to the surge of inscription activity. Inscriptions have become a very popular side of the crypto industry. 

Dogecoin Inscriptions, Doginals, became more popular following the launch of Doom video game on the network. Analysts say Dogecoin’s (DOGE) network activity could keep rising as demand for Inscriptions soars. This could push DOGE’s price up by 11.9% to $0.09103. Still, analysts say DOGE is still well below the list of top crypto coins.

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