Solana Daily New Addresses Milestone: Shiba Inu & NuggetRush Trends Hint At Price Outbreak

Solana Daily New Addresses Milestone: Shiba Inu & NuggetRush Trends Hint At Price Outbreak

By News Team - min read
Updated 16 May 2024

TLDR:

  • The Solana network growth has continued, highlighted by a new daily new address milestone.

  • Shiba Inu is in accumulation mode, with analyst Myles G Investments predicting a price pump to $0.000054.

  • Investors have bought over 226 million NUGX tokens and cryptocurrency experts predict a price rally.

The efficiency of Solana, as a high-performance network capable of processing transactions swiftly and at lower costs, has once again been brought to the spotlight. The number of new addresses on the network has surged to a new ATH, showing its continuous expansion.

In other news, Shiba Inu has entered an accumulation phase, with the crypto analyst Myles G Investments suggesting that it could ignite a major rally. Meanwhile, NuggetRush is seeing bigger accumulation, with over 226 million NUGX tokens bought in its crypto ICO phase.

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Accumulation of NuggetRush (NUGX) surges amidst forecasts of price explosion

Over the last few weeks, NuggetRush (NUGX) has been experiencing a big accumulation spree, as some investors expect it to be the best crypto investment in 2024. In this period, over 226 million NUGX tokens have been snapped up, even as its price has gone up from $0.010 to $0.019.

NuggetRush has gained this much traction for being a unique crypto project that combines meme culture with GameFi and play-to-earn (P2E) elements. This new P2E game is centered around gold mining operations, allowing players to recreate the gold rush. Players will create and manage their mining operations as they go in search of gold.

The game is catching the attention of the crypto community due to offering numerous chances of earning like RUSHGEMs which are some of the coolest NFTs that can be staked for up to 20% APY. Further, with NuggetRush, players can exchange in-game asset rewards for real gold and money.

Being a blend of numerous elements and sources of income, NuggetRush is interesting for investors who are looking for growth and involvement. Based on the growth rate, some crypto analysts have forecast that NUGX could trade as high as $1.00 in 2024, which would make it one of the best cryptos to buy now.

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Crypto analyst forecasts price surge for Shiba Inu (SHIB) amidst accumulation trend

Like NuggetRush, Shiba Inu (SHIB) has entered an accumulation phase. This was highlighted by the popular crypto analyst, and YouTuber Myles G Investments in a recent X post.

Data from IntoTheBlock has confirmed this accumulation trend. The data has shown that large holders have continued to increase their balances, with inflows increasing by more than 5,100% over the past 30 days.

Based on this accumulation trend Myles G Investments has predicted that the price of the meme coin could increase in the coming weeks. The seasoned trader expects this eventual price surge to lead to new highs for Shiba Inu, with a price target at $0.000054.

Solana (SOL) daily active addresses surge to new all-time high

Like the rest of the crypto market, the price of Solana (SOL) has been trending higher in the past week, surging past $150. However, Solana has notched another important milestone as the number of daily activity addresses surged to a new yearly high.

New daily active addresses this week also set a new all-time high on a seven-day moving average basis of 717,000 plus. The rising fanaticism of the Solana meme coins is another factor that has impacted the growth of the network.

The increase in network activities reflects the increased need for Solana’s high-performance network. There is speculation that the network growth may result in a price increase. Therefore, SOL remains one of the top crypto coins, likely to chase the $200 level in the next few weeks.

Conclusion

The three altcoins, Solana (SOL), Shiba Inu (SHIB), and NuggetRush (NUGX), all have a strong positive sentiment, a situation that might lead to price increases over the next week. Although SOL and SHIB are included in top altcoins, NUGX has demonstrated the potential to outperform them in the 2024 bull cycle.

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