The cryptocurrency market is experiencing significant changes, including an increase in Shiba Inu's burn rate and successful partnerships by BlockDAG in the sports sector.
Solana Prices Under Pressure
The current price of Solana (SOL) is hovering around $147, with traders closely monitoring the face-off between bulls and bears. Analysis suggests that prices could drop to the $120-$125 range if selling pressure continues. Trading volume has decreased by nearly 50%, indicating hesitance in investor sentiment. A key support level is at $141, and if prices drop below this point, it could accelerate the downward trend.
Shiba Inu Burn Rate Spike
Shiba Inu (SHIB) is starting to gain attention again after a massive spike in its burn rate, which surged over 10,800% within just 24 hours. This led to over 9.5 million SHIB being sent to inactive wallets, supporting a reduction in overall circulation. The resulting price increase of 3.66% has been seen by many in the community as a promising step toward supporting the coin's future value. However, trading volume remains low, indicating that participants are waiting for confirmation of sustained growth.
BlockDAG Joins the Sports World: Successful Presale
BlockDAG continues to break blockchain stereotypes, forming partnerships with Seattle's sports teams, the Seawolves and the Orcas. This opens new opportunities for fans, including digital collectibles and NFTs. The BlockDAG presale has raised $336 million and sold 23.8 billion coins, demonstrating strong investor interest. Additionally, a special price of $0.0016 is available until August 11 as part of the GLOBAL LAUNCH.
Currently, Solana remains under pressure, Shiba Inu shows early signs of recovery, and BlockDAG sets new records in its presale. These events highlight the dynamic and ever-changing nature of the cryptocurrency market.
