- Dogecoin (DOGE) is in an uptrend, breaking out of a bullish flag pattern and poised to retest resistance at $0.23.
- Shiba Inu (SHIB) remains in an uptrend as well, breaking out of a bullish flag pattern and eyeing a potential 30% upside to $0.000040.
- NuggetRush, a new meme coin, JUST concluded a successful presale, raising over $3.8 million, and is preparing for its official launch.
The crypto market has started the week on a strong note, with Bitcoin (BTC) now trading well above $70,500. The much-anticipated Bitcoin halving event is just days away, further fueling the excitement in the space. Meme coins have also been doing well, with Dogecoin (DOGE) and Shiba Inu (SHIB) posting single-digit gains today.
Amidst the meme coin frenzy, a new player, NuggetRush, is preparing to make its mark in this sector. The project recently concluded a successful presale, selling out over 270 million NUGX tokens and raising more than $3.8 million.
With the presale investors set to receive their tokens in the coming days and the official launch on exchanges planned for later this month, NuggetRush is potentially one to watch in the weeks and months ahead.
Dogecoin Price Analysis and Significance of DOGE day
DOGE is up 6% today after it broke a big resistance level at $0.2 during the weekend, now trading at $0.206. altFINS explained that the price is in an Uptrend. It broke out of a Bullish Flag pattern and made a Higher High of $0.23, which is a sign of an Uptrend. Now they are looking for the right entry opportunity in the Uptrend.
It appears that the coin has found support at the Fibonacci Retracement level of $0.18 (50%) and is poised to revisit $0.23. The analysts have set a Stop Loss (SL) level at $0.16 and recommend setting a price alert.
In terms of Trend, DOGE is in an Uptrend across all time horizons (Short- Medium- and Long-Term). For Momentum, the MACD Line is below the MACD Signal Line (Bearish) but the RSI is > 55 (Bullish). The MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
For Support and Resistance, the nearest Support Zone is $0.110, then $0.075 – $0.080. The nearest Resistance Zone is $0.200 (flipped during the weekend), then $0.250.
It’s worth noting that Doge Day is an event celebrated by Dogecoin fans on April 20th. The date was chosen due to its association with marijuana culture, with the term “420” often used to refer to the act of smoking it. The first Doge Day was celebrated in 2021, with supporters urging fans to buy up the digital coins based on a meme starring a Shiba Inu, a dog breed with a fox-like appearance.
The goal of Doge Day is to drive up the price of Dogecoin by encouraging fans to buy and hold the cryptocurrency. In 2021, the price of Dogecoin surged 24% on the day of Doge Day, reaching a high of 37 cents. The event has become a celebration of Doge culture and community, with supporters coming together to share jokes, memes, and rally for the meme coin king.
Shiba Inu (SHIB) Price Analysis
Shiba Inu (SHIB) is up a modest 2% today and is trading around $0.000028. According to altFINS, the price of SHIB remains in an Uptrend. After a brief consolidation in a Bullish Flag pattern, the price has broken out and could revisit $0.000040 for a +30% upside potential. The analysts have set a Stop Loss (SL) level at $0.000022 and recommend setting a price alert.
Looking at the technical pattern, the Bullish Flag pattern is a reliable continuation pattern that often indicates a small change in direction (or areas of consolidation) before the previous trend resumes. The analysts note that the trend is Neutral on a Short-Term basis and Uptrend on a Medium- and Long-Term basis.
In terms of Momentum, the MACD Line is below the MACD Signal Line (Bearish) but the RSI is around 50 (Neutral). As the MACD Histogram bars rise, momentum could be nearing another upswing.
For Support and Resistance, the nearest Support Zone is $0.0000225 (previous resistance), then $0.0000150. The nearest Resistance Zone is $0.000040, then $0.000050.
Nugget Rush: A New Meme Coin on the Block
NuggetRush, a new meme coin on the market, concluded its presale, where over 270 million NUGX tokens were sold out, raising over $3.8 million.
The presale investors are set to receive their tokens in the coming days (in 15 days to be precise, based on their website at the time of writing) and the official launch on exchanges is planned for later this month.
NuggetRush is a play-to-earn game that offers a gaming experience where players can earn rewards based on their skills and activities within the game. The game features various levels, challenges, and NFT characters with different capabilities that players can upgrade to increase their mining efficiency and financial value.
Players can also stake their character NFTs to earn fixed interest, join mining guilds for increased rewards, and participate in group challenges to earn more rewards.
Moreover, NuggetRush operates on the Ethereum blockchain, ensuring transparency, security, and fairness in all operations. The platform integrates NFT and DeFi features, allowing players to stake NFTs for up to 20% APY, trade NFTs in a peer-to-peer marketplace, and also redeem special NFTs called RUSHGEMs for real gold.
The native utility and governance token of NuggetRush, NUGX, is deflationary, supporting various activities within the game and potentially maintaining prices over time.
Conclusion
To sum it up, meme coins like Dogecoin and Shiba Inu have continued to garner attention in the meme coin realm. With the upcoming Bitcoin halving event and the strong start to the week, memes might potentially do well in the upcoming period.
Amid this backdrop, the launch of NuggetRush, a new play-to-earn game with a focus on sustainability and utility, is potentially worth keeping an eye on. While it’s important to approach any new project with caution, the success of NuggetRush’s presale and its gaming features suggest that it could be a compelling addition to the growing meme coin sector.
Join Nugget Rush Presale
Disclaimer: This is a paid post and should not be treated as news/advice.
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