Melker has forecasted bullish gains for Hedera if it crossed the $0.10 and $0.186.
Shiba Inu’s poor price movement has pushed investors to new projects like NuggetRush. 
Analysts have tagged NuggetRush as one of the best DeFi projects after looking at its potential. 

Melker’s bullish forecast for Hedera suggests potential gains if it surpasses key thresholds like $0.10 and $0.186. As Shiba Inu’s price struggles, investors are exploring alternative projects like NuggetRush. Besides, analysts have highlighted NuggetRush as one of the best DeFi projects in the market.

Shiba Inu (SHIB) Shows Poor Price Movement 

Shiba Inu (SHIB), the second-largest meme coin in the crypto space, has displayed a poor price movement in the past week. Data from CoinMarketCap shows the meme coin has increased only 1% in the past week as it fluctuated between $0.000009362 and $0.00001003. 

While Shiba Inu has held on to positive gains of 2.4% on the monthly chart, its year-to-date price has dropped 28.6%. This bearish price movement comes despite Shiba Inu’s increase in its burning activity.

According to Shibburn, the Shiba Inu team and the Shiba Army have burned a total of 410,708,461,916,257 SHIB tokens so far. Importantly, the aim of the token burn is to reduce the total supply of Shiba Inu, create scarcity, and increase its price.

Unfortunately, this has not been the case but the Shiba Inu community is bullish the upcoming auto-burn mechanism could increase the token burn. Meanwhile, this bearish price movement has affected the interest of investors who have moved to more promising meme coins like NuggetRush. 

NuggetRush (NUGX) Project Attracts More Users

NuggetRush (NUGX) is on the brink of launching an engaging play-to-earn (P2E) game that will revolutionize the crypto sector. The game will feature trending NFTs, which players can trade on the game’s marketplace.

The NUGX token will function as the primary in-game currency. This will allow players to trade their in-game items for NUGX or swap them for other NFTs. Additionally, players can stake their NFTs and earn up to 20% APY.

Meanwhile, the platform’s smart contracts have been audited by SolidProof to ensure top security, making NuggetRush the best crypto to invest in. Also, it is currently recognized as one of the best DeFi coins available and is priced at $0.018, with the expectation of a price increase to $0.020 post-launch.

Analysts have evaluated the NuggetRush platform and its upcoming play-to-earn game. They believe the game’s features are unique and will capture a wide range of gamers across the world. As a result, they have forecasted a 50x price pump in the coming months with the potential for more gains as the project grows.

These bullish forecasts have created FOMO among investors who are excited about the project and have accumulated over 186 million NUGX tokens so far.

Hedera (HBAR) To See 2x Gains

Hedera (HBAR) has become one of the best altcoins in the market as it produced double-digit gains on the weekly and monthly timeframes. According to CoinMarketCap, the price of Hedera has increased 28.1% in the past week, moving from a low of $0.07893 to a peak of $0.1149.

Meanwhile, Melker, also known as the “Wolf of all Streets,” has weighed in on Hedera’s bullish price movement. According to Melker, Hedera is challenging a major resistance zone. 

Melker has identified the $0.10 level as important for Hedera’s potential uptrend. A sustained close above this mark on both daily and weekly charts would indicate a momentum shift toward bulls.

Also, the analyst highlighted that once the $0.10 resistance zone is surpassed, the next resistance is near the $0.186 mark. Achieving this would mean a 2x gain for Hedera. Furthermore, should Hedera overcome the $0.186 resistance, Melker sees the altcoin price reaching $0.25.

Closing Thoughts

NuggetRush’s unique features and bullish price potential have attracted a large number of investors in its blockchain ICO. Analysts have forecasted the gaming token, which doubles as a meme coin, to surpass top altcoins like Shiba Inu after its launch.

Visit the NuggetRush Presale Website

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Filed under: Bitcoin - @ February 22, 2024 6:00 pm