The surge in crypto exercise in late 2023 benefited Avalanche (AVAX) and NuggetRush (NUGX). Particularly, Avalanche, the trendy, fourth-generation blockchain, reversed losses and emerged as one of many top-performing cash, even higher than Ethereum (ETH) and Bitcoin (BTC), partly due to the success of COQ, a meme coin just like PepeCoin (PEPE).
Alternatively, as Ethereum’s decentralized finance (DeFi) and non-fungible token (NFT) exercise recovered, buyers have been exploring choices.
COQ Meme Coin Rides On Avalanche Options
Coq Inu, a hen-inspired meme coin, was one of many top-performing tokens by mid-December 2023, even outpacing PepeCoin (PEPE) and Shiba Inu (SHIB).
The success of Coq Inu and COQ introduced extra consideration to Avalanche as capital flew from Solana and Ethereum. The hunt for positive aspects and a way of alternative was partly resulting from what Avalanche gives.
Avalanche, not like Ethereum, is a excessive throughput platform that’s equally scalable. No matter community exercise, charges barely change, encouraging individuals to have interaction as they compete to earn extra positive aspects.
This function is what COQ creators took benefit of to launch a meme coin on Avalanche that, of their description, is a shit coin with none worth.
As anticipated, the challenge additionally had no roadmap and a giant disclaimer warning holders to not count on any monetary return. Moreover, COQ had no presale or allocation. All current provide was launched to the group.
By mid-December, COQ had rallied by practically 500%.
Nevertheless, as momentum shifted and merchants exited, taking revenue, the token reversed, wiping out all positive aspects. Even so, COQ stays liquid. It has a market cap of over $107 million. Furthermore, it’s out there for buying and selling, amongst different mainstream exchanges, KuCoin and Bybit.
With COQ crumbling, some merchants and buyers have been exploring alternate options, together with NuggetRush.
Is NUGX Presale Garnering Whales Curiosity?
Not like Coq Inu, NuggetRush is a meme coin on Ethereum with real-world utility.
Meaning the staff is working, guided by a roadmap, to ship on their goals.
Mixed with the staff’s expertise, objectives, and must create an ecosystem of rewards for his or her supporters, buyers have been analyzing the challenge, with some collaborating within the ongoing presale.
In spherical 4 of the NuggetRush presale, NUGX is obtainable for 0.015 USDT. Over 132 million NUGX have been distributed to early adopters.
NUGX utility stems from how NuggetRush creators are integrating the token into its ecosystem. The ERC-20 token shall be a medium of trade. Meaning as soon as the platform distributes in-game NFT objects to gamers of its play-to-earn sport, they’ll swap them with all charges payable in NUGX.
NFT holders may stake, receiving as much as 20% yield, payable in NUGX.
There’s additionally a charity component to NuggetRush: As gamers have interaction and construct their staff, they immediately profit real-world artisanal miners.
Gamers who select to affix The Rush Guild additionally obtain voting rights. As such, they’ll vote on proposals meant to enhance the sport and the NuggetRush ecosystem.
Rising new initiatives are remodeling the crypto panorama. One such challenge is NuggetRush, which is trying to capitalize on the meme coin tradition and outlast initiatives resembling Coq Inu.
Though the NUGX presale has been profitable, it’s unclear how costs will react as soon as it’s listed on mainstream exchanges. Nevertheless, if crypto continues to recuperate as most analysts projected, NuggetRush may benefit.
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