The cryptocurrency market shows diverse trends, with Shiba Inu, Cardano, and the BlockDAG project standing out at this moment. This article provides an analysis of current events and trend disruptions in this market.
BlockDAG: Hybrid Model for Scalability
The BlockDAG project is attracting attention with its hybrid model, combining Directed Acyclic Graph (DAG) technology with Proof-of-Work (PoW). This structure allows for high transaction speeds and instant confirmations, making it suitable for real-world applications in areas such as DeFi and gaming. So far, in its presale, the project has raised over $381 million and sold more than 25.3 billion coins. This success is attributed to a growing number of users and strong demand for BDAG tokens.
Shiba Inu (SHIB): Support Weakens
Shiba Inu faces challenges, currently trading below its 20-day moving average. This decline was also accompanied by a sharp drop in the burn rate—from tens of millions to just over 223,000 a day. Trading volume has halved, impacting the token's supply dynamics. The formation of a 'death cross' adds a bearish outlook, as the 50-day moving average has fallen below the 200-day. However, support at the 61.8% Fibonacci level remains intact, and market participants are closely monitoring developments.
Cardano (ADA): Bulls on the Rise
Cardano is showing bullish signals after a technical rebound from the $0.84–$0.87 range. With whales accumulating nearly 100 million ADA, there is increasing confidence among holders. A golden cross has formed, indicating potential price increases. Open interest in ADA futures has reached a 7-month peak of $1.13 billion, further signaling investor confidence.
Current trends in the cryptocurrency market continue to evolve, showcasing differences in successes and challenges among various projects. Shiba Inu is facing difficulties, while Cardano exhibits positive signs, and BlockDAG has established itself as a promising project with high growth potential.
