Altcoins
Japanese banking giant adopts Shiba Inu
TLDR:
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SBI VC Trade announced a passive income service for Shiba Inu.
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Kevin Svenson said Bitcoin remains on an upward trajectory despite the recent crypto crash.
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NuggetRush is a new altcoin ready to bounce back to $1.
In a notable achievement for Shiba Inu, SBI VC Trade, a subsidiary of SBI Japan, announced a passive income service for the meme coin. Meanwhile, Kevin Svenson said Bitcoin is still in its bull market despite the recent pullback. NuggetRush is one of the best altcoins to benefit from this bull market, as it hits $1.00.
GameFi’s dominance to propel NuggetRush (NUGX) to $1
NuggetRush (NUGX) is a new DeFi project that is quickly gaining traction in the GameFi community. The project stands out for merging multiple components into a single gaming ecosystem. The NuggetRush platform serves as an intersection between P2E gaming, artisanal mining, NFTs, meme culture, staking, and a model of distinctive social impact.
Mining gaming is the main component of the NuggetRush ecosystem. Players will engage in exciting in-game mining missions to find gold and other valuable materials. NuggetRush stands out by allowing users to exchange their virtual winnings for physical assets in gold, cash or NUGX, the site’s ERC20 coins.
The NuggetRush platform offers additional earning levels. Trending NFTs from the RUSHGEM platform can be staked by players for up to 20% APY. NuggetRush’s social impact strategy gives the platform an extra level of uniqueness. Money earned on NuggetRush will be used to support poor artisanal miners in developing countries.
NuggetRush’s blockchain ICO was a resounding success, raising over $3.8 million and selling over 270 million NUGX tokens. The NUGX token is live on Uniswap and anyone can buy it right now. Analysts have given a price estimate of $1.00 for NUGX in 2024 despite the token selling at $0.020.
Japanese banking giant adds passive income service for Shiba Inu (SHIB)
Despite the recent memecoin crash, the Shiba Inu (SHIB) community is celebrating a milestone. SBI VC Trade, the crypto arm of SBI Japan, has spear a staking service that will generate passive income for Shiba Inu, Bitcoin and BCH holders.
The service will allow Shiba Inu holders to lend their unused SHIB assets to earn rental fees during the loan period. The recent announcement aligns with calls from the Shiba Inu team for wider adoption of the meme coin in 2024. The meme coin reacted positively to the news, surpassing the $0.00002200 resistance.
Bitcoin (BTC) still on an exponential upward trajectory
Bitcoin (BTC) recently suffered its biggest loss in over a year. From a monthly high of $72,500, the leading cryptocurrency plunged to a low of $60,200. Despite a massive drop in prices, market analyst Kevin Svenson has explain in its recent analysis, Bitcoin remains on an upward trajectory.
Svenson also explained that as long as Bitcoin remains above the mid-$50,000 range, it is still in an “exponentially higher low.” Only a break below $50,000 could lead to a consolidation phase for BTC by summer. However, if the uptrend resumes, BTC will look to target $85,000 after the Bitcoin halving.
Final Thoughts
With these distinctive features, NuggetRush is quickly becoming the next big thing in the GameFi industry. This is why its native token is poised to hit $1.00 before the end of 2024, making it the best new coin to invest in right now.