The cryptocurrency market is witnessing volatility, with Solana's price drop and Shiba Inu's potential recovery drawing investor attention, while BlockDAG showcases significant achievements.
Solana Faces Potential Drop to $120
Solana (SOL) is trading just above $147, but charts indicate signs of a downturn. A descending wedge pattern has formed, raising analysts' concerns that SOL could slip to the $120–$125 range if selling continues. Short positions have jumped to $78.42 million, while long positions remain insignificant, indicating a shift in sentiment. Key support sits around $141, and if SOL breaks below that line, further declines could follow.
Shiba Inu's Chances for Recovery Post Burn Spike
Shiba Inu (SHIB) has seen a noticeable boost after its burn rate spiked by over 10,800% within a day. Over 9.5 million SHIB were removed from circulation, signaling the community's active push to help lift prices. However, trading volumes remain low, indicating caution among holders. For SHIB to sustain momentum, more participant involvement and trading volume will be necessary.
BlockDAG's Sales Figures and Sports Partnerships Success
BlockDAG is garnering attention away from the typical crypto crowd due to its new sports partnerships and impressive presale figures. The platform has partnered with two major rugby franchises, offering fans access to blockchain-powered perks like NFTs and digital content. Currently, BlockDAG has raised $336 million, with the price set at a fixed rate, indicating promising growth in the field.
Currently, Solana faces uncertainty in its price trajectory, while Shiba Inu displays potential for recovery, backed by community engagement. BlockDAG continues to confidently establish its presence in the market through effective sports partnerships.
