The surge in crypto activity in late 2023 benefited Avalanche (AVAX) and NuggetRush (NUGX). Specifically, Avalanche, the modern, fourth-generation blockchain, reversed losses and emerged as one of the top-performing coins, even better than Ethereum (ETH) and Bitcoin (BTC), partly because of the success of COQ, a meme coin similar to PepeCoin (PEPE).
On the other hand, as Ethereum’s decentralized finance (DeFi) and non-fungible token (NFT) activity recovered, investors have been exploring options.
COQ Meme Coin Rides On Avalanche Features
Coq Inu, a hen-inspired meme coin, was one of the top-performing tokens by mid-December 2023, even outpacing PepeCoin (PEPE) and Shiba Inu (SHIB).
The success of Coq Inu and COQ brought more attention to Avalanche as capital flew from Solana and Ethereum. The quest for gains and a sense of opportunity was partly due to what Avalanche offers.
Avalanche, unlike Ethereum, is a high throughput platform that’s equally scalable. Regardless of network activity, fees barely change, encouraging participants to engage as they compete to earn more gains.
This feature is what COQ creators took advantage of to release a meme coin on Avalanche that, in their description, is a shit coin without any value.
As expected, the project also had no roadmap and a big disclaimer warning holders not to expect any financial return. Additionally, COQ had no presale or allocation. All existing supply was released to the community.
By mid-December, COQ had rallied by nearly 500%.
However, as momentum shifted and traders exited, taking profit, the token reversed, wiping out all gains. Even so, COQ remains liquid. It has a market cap of over $107 million. Moreover, it is available for trading, among other mainstream exchanges, KuCoin and Bybit.
With COQ crumbling, some traders and investors have been exploring alternatives, including NuggetRush.
Is NUGX Presale Garnering Whales Interest?
Unlike Coq Inu, NuggetRush is a meme coin on Ethereum with real-world utility.
That means the team is working, guided by a roadmap, to deliver on their objectives.
Combined with the team’s experience, goals, and need to create an ecosystem of rewards for their supporters, investors have been examining the project, with some participating in the ongoing presale.
In round 4 of the NuggetRush presale, NUGX is available 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 will be a medium of exchange. That means once the platform distributes in-game NFT items to players of its play-to-earn game, they can swap them with all fees payable in NUGX.
NFT holders can also stake, receiving up to 20% yield, payable in NUGX.
There is also a charity element to NuggetRush: As players engage and build their team, they directly benefit real-world artisanal miners.
Players who choose to join The Rush Guild also receive voting rights. As such, they can vote on proposals meant to improve the game and the NuggetRush ecosystem.
Emerging new projects are transforming the crypto landscape. One such project is NuggetRush, which is attempting to capitalize on the meme coin culture and outlast projects such as Coq Inu.
Although the NUGX presale has been successful, it is unclear how prices will react once it is listed on mainstream exchanges. However, if crypto continues to recover as most analysts projected, NuggetRush could benefit.
Visit NuggetRush Presale Website
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