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Home»BLOCKCHAIN NEWS»Solana ran out of steam as Dogecoin and NuggetRush rallied after the initial success of X Payments.
BLOCKCHAIN NEWS

Solana ran out of steam as Dogecoin and NuggetRush rallied after the initial success of X Payments.

By Crypto FlexsJanuary 26, 20243 Mins Read
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Solana ran out of steam as Dogecoin and NuggetRush rallied after the initial success of X Payments.
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Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.

  • Solana FOMO disappears
  • Dogecoin is rallying
  • NuggetRush rises to $0.018 in ongoing presale.

Solana went down just as FOMO surrounding the SPL token airdrop, including JTO, BONK, and WIF, dissipated. Meanwhile, Dogecoin (DOGE) is rebounding thanks to the early success of Elon Musk’s X Payments platform. NuggetRush (NUGX) has also emerged as a potential memecoin competitor due to its impactful gaming model.

Solana struggling

Solana rebounded strongly in 2023. However, SOL’s current trajectory in early 2024 is different from investors’ expectations.

SOL is down 14% at the time of writing. While it is true that SOL is following broader market trends, there are additional factors contributing to this significant price decline.

The main reason for this decline is the waning FOMO surrounding the Solana meme coin.

In the fourth quarter of 2023, SOL price rose due to the price surge and popularity of tokens such as BONK, WIF, etc. This hype has since died down.

Nugget Rush surges

NuggetRush is trading at $0.018, up 20% in its fifth presale.

Unique impact gaming model is fueling demand.

The surreal play-to-earn (P2E) game immerses players into the daily life of an artisanal miner. Players can form their own operation from scratch and acquire equipment for expansion and mineral exploration.

As a peer-to-peer game, players are rewarded for every valuable mineral they discover during their work.

But the impact game model sets NuggetRush apart. Players are not the only beneficiaries of these rewards.

A portion of these rewards will also be distributed to actual miners in developing countries.

As the project prepares to launch in the first quarter of 2024, analysts expect NUGX to soar higher.

Dogecoin rallies on Elon Musk’s X Payments launch

Dogecoin recently surged more than 14% from $0.091 to $0.079 after X announced X Payments.

Although X owner Elon Musk has publicly stated that his company has no plans to launch the token, DOGE’s price has been closely correlated with X Payments’ social media and website updates.

This connection has fueled speculation about a possible integration or partnership between Dogecoin and X.

final thoughts

While investors are concerned about Solana’s decline, Dogecoin holders are optimistic about the X Payments platform. Meanwhile, NuggetRush is gaining popularity with its unique game concept.

Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users must conduct their own investigation before taking any action related to the Company.

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