BONK Outshines Top Meme Coins Following This Week's Pump As This Low-Cap Gem Successfully Launches on Uniswap

• BONK meme coin surged 76% this week, outperforming top meme coins like DOGE and SHIB
• New low-cap meme coin NuggetRush successfully launched on Uniswap after raising $3.8M in presale
• NuggetRush combines GameFi, NFTs, and play-to-earn mechanics in a gaming platform

Meme coin BONK outshined its top contenders this week with a 77% pump. While popular meme coins like SHIB, PEPE, and FLOKI failed to exceed a 40% increase, the “meme coin king” DOGE saw only a modest 5% gain at the time of writing. 

Simultaneously, a new low-cap meme coin, NuggetRush, successfully launched on the Uniswap DEX following a triumphant crypto presale.

Source: CoinMarketCap/memes

BONK’s Bullish Breakout

BONK is currently trading around $0.000024 after this week’s impressive surge. The coin hit an all-time high of approximately $0.000037 in early March but had been trading within a descending channel until recently.

However, yesterday’s price action saw BONK break out of this channel, entering what could be described as a “discovery mode.”

Technically, BONK’s Relative Strength Index (RSI) stands at 56, indicating a moderately overbought condition. Additionally, the Moving Average Convergence Divergence (MACD) line is above the MACD signal line, suggesting a bullish trend. 

In the event of any significant pullbacks or market crashes, the 200-day moving average of $0.000013 should act as a strong support level.

Looking ahead, BONK’s next resistance target seems to be $0.000030. While the coin’s recent performance has been impressive, it’s essential to approach any investment with caution, since investing in meme coins is considered risky.

One potential catalyst for BONK’s pump could be its listing on Revolut on April 23rd. Nevertheless, the rally appears to be largely community-driven, solidifying BONK’s position as one of the leading Solana meme coins.

NuggetRush: A New Player in the Meme Coin Arena

NuggetRush (NUGX) recently launched on Uniswap after a successful presale that raised $3.8 million. This achievement is actually important, as many presales in the crypto space fail to launch or disappear shortly after launch. NuggetRush’s team demonstrates their commitment to establishing a lasting presence in the meme coin sector.

Currently trading at $0.024, NuggetRush has a market cap of around $11 million (as per Dextools), relatively low compared to more established meme coins. The coin’s RSI is 56, suggesting a moderately overbought condition.

NuggetRush is a blockchain-based gaming platform that combines GameFi, impact gaming, and play-to-earn (P2E) concepts. The game utilizes trending NFTs as game characters, offering players capabilities to win. 

NuggetRush’s gameplay involves scouting mines, searching for treasures with tangible value in the physical world, and collecting in-game rewards. Players can join the Rush Guild, an elite community of token holders, to enjoy VIP access to bonuses, discounts, and rewards. The game promotes strategic collaborations and joint mining guilds, enhancing efficiency and rewards. 

Players can form partnerships and guilds to boost their mining efficiency and gameplay rewards. NuggetRush also rewards users for completing quests, ranked play, battles, tournaments, and other avenues. The platform features a marketplace where players can buy and sell rare NFTs, which can be staked for a 20% annual percentage yield (APY).

While NuggetRush is still in its early stages and carries inherent risks, the project shows promise in blending gaming, NFTs, and the play-to-earn model. However, as with any meme coin investment, invest only after doing your own research.

Conclusion

To sum it up, BONK’s impressive performance this week has solidified its position among the top meme coins. Its community-driven rally and potential for further growth make it an intriguing prospect for investors interested in the meme coin sector. 

On the other hand, NuggetRush’s successful launch and approach to gaming, NFTs, and play-to-earn mechanics position it as a potentially promising low-cap gem worth keeping an eye on, albeit with the inherent risks associated with early-stage projects.

Join Nugget Rush

This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.