Monday, 4 March 2024

Crypto News

Amid declining interest in Shiba Inu and Dogecoin, NuggetRush’s presale sparks investor frenzy

Amid declining interest in Shiba Inu and Dogecoin, NuggetRush's presale sparks investor frenzy

  • Top Shiba Inu (SHIB) addresses have accumulated more coins over the past two months, with holdings increasing from 493.42 trillion to 497.11 trillion by February 7, 2024.
  • Dogecoin (DOGE) experiences a surprising surge in adoption as over 890,000 new wallets are created in the first week of February 2024.
  • NuggetRush (NUGX) is an NFT gaming platform on the Ethereum blockchain, combining gold mining, crypto, and artisanal mining experiences for gamers worldwide. 

The cryptocurrency market keeps evolving, and three notable players have recently captivated the attention of investors and enthusiasts. Shiba Inu (SHIB), Dogecoin (DOGE), and NuggetRush (NUGX) each bring unique narratives and developments that shed light on the diverse and dynamic nature of the crypto space. 

Amid the dropping interest in Dogecoin and Shiba Inu, here is why NuggetRush is causing a buzz in the market.

SHIB whales’ strategic accumulation and Shibarium Network advancements

On February 7, 2024, reports emerged that top non-exchange Shiba Inu (SHIB) addresses accumulated lots of coins in the past two months. Santiment’s on-chain data and crypto news highlighted that Shiba Inu (SHIB) supply held by these addresses was 493.42 trillion on December 14, 2023.

By February 7, an analysis of the metric showed that it had increased to 497.11 trillion Shiba Inu (SHIB) tokens. The increased holding indicated that these top Shiba Inu whales were not bothered about SHIB’s near-term volatility. Instead, the whales seem focused on the long-term tokenomics of the meme coin.

Interestingly, the amount of Shiba Inu (SHIB) available on exchanges has reduced, which means minimal selling pressure in the current bullish momentum. The hodlers are not selling their tokens.

Elsewhere, Shiba Inu’s (SHIB) team announced a notable development in the Shibarium network through a partnership with K9 Finance. The partnership aims to launch Liquid Staking Derivatives (LSD) to boost flexibility and liquidity for BONE token users.

On February 8, Shiba Inu (SHIB) was trading at $0.000009099, up 2.54% in the past week. Experts say Shiba Inu (SHIB) will rise to $0.000009185 by the end of February, powered by developments on its network.

Dogecoin (DOGE) records 890,000 new wallets

Dogecoin’s (DOGE) adoption trend surprised the crypto space after the number of new wallets…

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