1. Avalanche Traders Face Challenges
2. Shiba Inu Price Forecast
3. BlockDAG Growth with Alex Pereira Partnership

Avalanche (AVAX) and Shiba Inu (SHIB) investors are going through tough times, whereas BlockDAG shows steady growth thanks to its partnership with Alex Pereira.

Avalanche Traders Face Challenges

In early August, Avalanche (AVAX) saw a 10% dip in its price, sliding from $29.55 to $26.19. This decline aligns with broader market trends as investors adopt more cautious strategies, leaning towards bearish positions. Data from Santiment indicates that AVAX’s Funding Rate has turned negative, now at -0.017%. The bearish outlook is further supported by AVAX’s “Addresses by Time Held” metric. The daily AVAX/USD chart shows a rounding top pattern, a bearish signal that could push the price down to $25.54.

Shiba Inu Price Forecast

Shiba Inu (SHIB) is under intense selling pressure, dropping its price to $0.00016. Short-term traders are exiting, which could drive the price even lower, potentially below $0.000015. Despite hopes for a price rally following Donald Trump’s appearance at the Bitcoin Nashville conference, attention remained on larger assets, leaving SHIB and other meme tokens struggling to gain momentum. IntoTheBlock’s Exchange Order Books reveal that a substantial amount of SHIB—over 5.9 trillion tokens—is listed for sale at around $0.000017. This indicates that up to $100 million worth of SHIB could be sold off shortly.

BlockDAG Growth with Alex Pereira Partnership

BlockDAG is making headlines by partnering with UFC Light Heavyweight Champion Alex Pereira as its brand ambassador. This collaboration ties BlockDAG to Pereira’s strong presence in the UFC, representing power, resilience, and triumph. Just as Pereira dominates in the ring, BlockDAG aims to revolutionize the blockchain industry with its innovative technology. This move is more than just marketing; it’s a strategic initiative that enhances BlockDAG’s visibility and cements its reputation. The impact of this partnership is evident, positioning BlockDAG as a formidable player in the crypto market. This collaboration not only attracts traders but also showcases BlockDAG as a key sponsor in a sport watched by millions, allowing the project to reach new demographics as it enters a period of rapid expansion. Since bringing Alex Pereira on board, BlockDAG’s presale numbers have surged to reach $66.7 million towards its $600 million goal. This growth reflects the market’s enthusiasm and confidence in BlockDAG, with over 12.6 billion BDAG coins sold, raising $66.7 million, plus an additional $4.3 million from more than 10,700 miners. Each presale phase has seen a 1600% increase in coin value, rising from $0.001 in Batch 1 to $0.017 in Batch 21, solidifying BlockDAG as one of the top altcoins to consider in 2024.

BlockDAG’s collaboration with UFC champion Alex Pereira is making a significant impact. Beyond boosting BlockDAG’s visibility, the partnership also demonstrates the project’s maturity and the increasing inflows into its network. While AVAX and SHIB traders are facing challenges, BlockDAG shows real potential for growth, thanks to its association with Pereira, establishing itself as a prominent contender among altcoins.