Crypto is known for two things: volatility and opportunities. In 2023, early adopters of top coins like Ethereum or Bitcoin are a testament, despite the sharp drop in asset prices, they are millionaires. The same can be said of Dogecoin (DOGE) and PEPE investors.
Considering tapering momentum meme coins, especially in Q3 2023, investors who were drawn to meme coins have been changing tact and increasingly accumulating XRP, the native token of the XRP Ledger (XRPL), and actively exploring opportunities in an emerging gem, NuggetRush (NUGX).
Analysts note that this shift is mainly driven by a desire to diversify, boost profits, and, most importantly, find stability at a time when fear reigns.
Seeking Credibility and Stability
Meme coins such as Dogecoin and Shiba Inu became popular as light-hearted, internet-inspired tokens. However, their speculative nature, unpredictability, and lack of concrete utility have left many investors looking for more credibility and stability in their portfolios. This quest for reliability has led them to consider other top altcoins like XRP and mostly NUGX.
XRP is central to the XRPL and is critical to Ripple’s goals of easing cross-border transfers and disrupting how banks work. Specifically, XRP is used in the on-demand liquidity (ODL). After July 2023, the coin was approved as a utility.
The judge’s decision supported XRP prices, drew capital, and enhanced the coin’s liquidity, boosting its position in the scene. Investors are drawn to XRP’s potential for real-world utility and its ability to withstand market turbulence, as seen between late 2020 and July 2023, making it an appealing alternative to meme coins.
Meanwhile, NUGX, an ERC-20 token and a crypto to buy in 2023, runs on Ethereum and creates what the team describes as an “ecosystem of rewards.” The project aims to mesh the play-to-earn (P2E) model and meme coins with plans to improve the lives of artisanal miners. Beyond releasing a collection of characters that have appeal as gaming characters and non-fungible token (NFT) collections, NUGX staking offers a 20% APY.
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Exploring Undervalued Gems
Investors are also increasingly turning to emerging coins with high growth potential in their quest for the next big thing. Amid this search, NuggetRush is emerging as a hidden gem that has captured the attention of smart crypto investors. Besides rewards, the platform has unique features, merging NFTs, P2E, and meme coins, all while remaining community-centric.
NuggetRush will provide value to investors. With a “no buy or sell tax” policy, its native NUGX, a crypto for beginners, appears to be grossly undervalued ahead of its launch and bull market expected in 2024 when the Bitcoin network halves its miner rewards.
Presently, more investors are drawn to Nugget’s potential for widespread adoption and the opportunity for them to be part of a GameFi revolution, away from meme coins whose hype is rapidly fading.
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Diversifying Portfolios
Diversification has always been a fundamental principle of investing, and crypto is no exception.
Many meme coin investors have realized the importance of spreading risk across different assets, especially when the value of meme coins can fluctuate wildly within hours. As a result, they are turning to predictable and best cryptos to buy like XRP and NUGX to achieve a more balanced and diversified portfolio.
Considering current market conditions, astute investors are actively blending and incorporating top coins like XRP for stability and emerging altcoins like NUGX for growth potential.
The strategy allows investors to capture gains in established and emerging markets while concurrently avoiding or completely reducing exposure to the volatility of meme coins like PEPE, whose fall to grace has led to massive losses for investors who bought at peaks.
Conclusion
The crypto scene is always dynamic and investors are moving away from meme coins like DOGE and BALD. This asset class was widely popular in the first half of the year. In Q4 2023, an increasing number of investors are realizing the potential of XRP and adding NUGX to their portfolios to maximize return on investment as the market recovers.
XRP and NuggetRush offer credibility, steady growth, and are secure–NuggetRush’s smart contracts have been audited by SolidProof. These factors can drive value rapidly in the next leg-up expected in 2024.
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The post 3 Reasons Why Memecoin Investors Are Turning Their Focus to XRP and NuggetRush to Boost Their Portfolios appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/3-reasons-why-memecoin-investors-are-turning-their-focus-to-xrp-and-nuggetrush-to-boost-their-portfolios/