The cryptocurrency market is on the move: Avalanche (AVAX) and Shiba Inu (SHIB) are in focus. Meanwhile, projects like BlockDAG prepare new releases, drawing investor interest.
Avalanche Price Rally Engages Traders
Avalanche (AVAX) token prices continue to rise, showing a 7% increase and trading above $21. The breakthrough of a descending trendline opens the possibility of reaching resistance levels of $24.99 and even $30. On-chain indicators, including the relative strength index and MACD crossover data, support the bullish sentiment. The long-to-short ratio has reached its highest point in over a month, pointing to continuing upward momentum.
Shiba Inu Burn Rate Accelerates
Following a burn of 1 billion Shiba Inu (SHIB) tokens by an anonymous wallet, the SHIB burn rate surged by 8,470%. This operation, valued at approximately $13,050, was recorded by the Shibburn community. Etherscan reports that this wallet had previously conducted similar operations, burning a total of over 1.004 billion SHIB tokens within 24 hours.
BlockDAG's Upcoming Keynote 3 Sparks Excitement
The BlockDAG project is set to unveil its third Keynote presentation on March 28. This event has garnered significant interest due to its previous impactful presentations. Expectations are high, and many speculate announcements regarding the mainnet launch and centralized exchange listings. The BDAG token price is settled at $0.0248, and with each new release, investor interest grows.
Cryptocurrency market trends continue to evolve. Avalanche prices remain in traders' focus, while projects like BlockDAG prepare new key events that could shift market dynamics.
