The crypto market is witnessing an active competition among various coins. Recent updates about Pudgy Penguins and Shiba Inu highlight their current successes and struggles, contrasting with the strong upward trajectory of BlockDAG.
Pudgy Penguins Game Launch Meets Decline
The recent update in Pudgy Penguins features the launch of the Pudgy Party mobile game, which quickly climbed into the top 10 of the Apple App Store, garnering over 50,000 downloads on Google Play. The game is built on the Mythos Chain within the Polkadot system and allows players to create, earn, and merge items that can transform into tradeable NFTs.
However, the performance of the PENGU coin has shrunk by over 20% in the past month, landing around $0.028. This decline is attributed to overall market weakness in the NFT sector and Ethereum's recent downturn.
Weak Shiba Inu Price Signals
The price signal for Shiba Inu points downward, raising concerns among supporters. The current price hovers around $0.0000122, with only a 0.09% increase over the past three months and a 7.2% decrease since the beginning of the year. RSI readings are weakening, indicating stronger selling pressure in the market.
On-chain activity adds to the concerns; only 24.3% of SHIB tokens are in profit, and exchange withdrawals have fallen to a one-year low. Key price levels to watch include resistance at $0.0000123 and $0.0000135, with $0.0000119 serving as the crucial support level.
BlockDAG’s Success: Attracting Investors
BlockDAG has emerged as a standout project this year. Recently, it gathered over $403 million and sold more than 26.1 billion coins, positioning itself among the most successful presales of the year and attracting significant whale attention.
Furthermore, shipments of X10 miners have begun, with production expected to reach 2,000 units weekly. The upcoming global event in Singapore will serve as a showcase for their achievements.
Market updates indicate the performance gap among coins, with Pudgy Penguins exemplifying growth in gaming while struggling financially, and Shiba Inu facing similar challenges amidst low participation. Meanwhile, BlockDAG continues to lead, confirming its strong market position, making it one of the most promising projects in the cryptocurrency landscape.
