TLDR:
If anything, meme coins are known for two things: high volatility and lack of utility. With that still, it has the potential to yield high returns, especially for early adopters.
Take PepeCoin (PEPE), for example. It has no utility, but since launching in late April and listing on Binance, the world’s largest exchange, it has made a name for itself while heavily rewarding early adopters.
For its recent growth, it even outperformed Cardano (ADA).
If NuggetRush (NUGX), a project that seeks to address the “overall lack of utility” associated with meme coins through play-to-earn (P2E) gaming, follows the same trend, some early supporters believe that the platform could surpass Cardano, an established project in the top 10, in the months ahead.
Will this happen? Let’s see.
As mentioned, meme coins, in general, might command billions in market cap but, unfortunately, lack utility. Some risk-averse investors consider them a joke and won’t add them to their portfolios, even if they are some of the best altcoins to explore.
NuggetRush (NUGX) aims to change this by bringing more utility to the meme coin sector through P2E gaming. First, players play the game and get rewards. These in-game assets exist as non-fungible tokens (NFTs) minted on Ethereum.
Notably, these in-game assets can be traded for some of the coolest NFTs in the NuggetRush ecosystem or even swapped for NUGX, the platform’s native ERC-20 token.
Some of NuggetRush’s rarest NFTs can also be traded for real gold that will be delivered to the owner’s doorstep.
NuggetRush NFT holders also have the option of staking the token, earning staking rewards in return. Project supporters think this can be a way for supporters to diversify and increase their revenue-earning streams over time.
NUGX is a utility, meaning all trading operations must be denominated in the coin. At the same time, NUGX holders can vote on ideas floated by other community members. In this way, the project aims to empower holders and decentralize control, allowing every member to have a say.
In round 2 of the presale, NuggetRush has raised over $500,000 from selling more than 42 million NUGX holders to early adopters. Each NUGX is trading for 0.012 USDT in this funding round and can be a crypto to buy in November 2023.
At the same time, NUGX prices are up 20%, but by the end of the presale, the token will be changing hands at 0.02 USDT, up 100% from the initial listing price.
NuggetRush has a lower market cap than Cardano and PepeCoin. Accordingly, supporters are convinced there could be more gains for NUGX in the days ahead, especially if the crypto uptrend continues.
Though Cardano is one of the leading projects and looks to create an alternative for deploying smart contracts, it has struggled to find rapid adoption, looking at its relatively low total value locked (TVL) in decentralized finance (DeFi) and NFT versus Ethereum and even Solana. Ethereum remains the leader.
Meanwhile, Solana has grown rapidly, drawing attention considering its surge, especially in 2023. ADA, on the other hand, is capped below $0.40 even with the recent shift of sentiment in crypto markets.
After impressive gains in May 2023, PEPE seems to be struggling and unlikely to replicate late H1 2023 gains.
Though PEPE and ADA are both firm as of mid-November, NUGX has more upside potential going forward. Moreover, NUGX’s presale price will rise 100% from 0.01 USDT to 0.02 USDT by the close of the presale and ahead of exchange listing.
The big question: can NUGX surpass the $0.40 mark, a price ADA is currently trying to break? Most likely, yes. NUGX is expected to launch at $0.02. NuggetRush is still in the spotlight, evident from its recent success in its first presale round.
It can even be the best cryptocurrency for beginners. Even so, it is a new crypto project taking on established platforms like Cardano and providing PEPE supporters with an alternative.
Cardano (ADA) has always played the long game. While flashier projects chased hype cycles, Cardano…
After an underwhelming performance in the last four months, Ethereum’s 50% upswing in May sparks…
BTC might be trading above $100,000, but the real fun is yet to begin: altseason.…
Pi Network AI was initially known for its sense of community, but that factor now…
Federal Reserve Chair Jerome Powell recently reignited the digital dollar debate, signaling a deeper commitment…
BitMEX co-founder Arthur Hayes is back with a sharp take on the crypto market, revealing…
