The cryptocurrency market is facing new challenges as projects like Dogecoin and Pi Network experience hard times, whereas BlockDAG shows growth and development.
Dogecoin: Problems and Price Decline
Dogecoin, the original meme cryptocurrency, is facing new risks amidst growing selling pressure. Data shows that the cryptocurrency has slipped below key support levels, possibly leading to further price drops if it doesn't hold above the $0.21 zone. Although 76.95% of the supply is profitable, which is often linked to major sell-offs, medium- and long-term holders are reducing their exposure, signaling a fading confidence from investors.
Pi Network: Migration Plans
Pi Network, despite having a global community, finds itself uncertain in its next stage of development. Developers are considering a second mainnet migration in 2025 to resolve issues with locked transfers and delayed bonus payouts. These challenges are linked to limited access for participants, impacting trust in the project.
BlockDAG: Steady Growth and Technologies
In contrast to Dogecoin and Pi Network, BlockDAG shows real, measurable results. The project has raised over $386 million and connected with 3 million users of its X1 mobile app, which allows mining directly from smartphones. This approach eliminates the need for costly mining hardware and attracts a broad community. BlockDAG combines blockchain and DAG technologies, providing high transaction speeds and EVM compatibility. The live BlockDAG Explorer offers users access to real-time network data, building trust and transparency.
The challenges faced by Dogecoin and Pi Network highlight the risks associated with linear strategies in the crypto market. While Dogecoin continues to lose ground, Pi Network is working on its development, BlockDAG shows impressive results and successes, making it a promising project amid current uncertainties.
