This article examines current trends in the cryptocurrency market, including the price drop of Dogecoin and recent activity of Tron.
Dogecoin’s Support Test
Dogecoin (DOGE) has fallen 25% from its July peak and is currently testing the $0.19 support level, which has previously acted as a strong resistance. Despite this decline, market sentiment remains positive, as the golden cross pattern may indicate a potential rebound.
Technical signals and trader positioning suggest potential growth. Past RSI levels similar to the current ones have preceded price increases of 70%. However, if DOGE drops below support, further declines are possible.
Tron’s Major Sell-Off and Its Reactions
In the past day, Tron (TRX) holders realized a profit of approximately $1.4 billion, marking one of the largest sell-off events this year. Glassnode data indicates that much of this profit came from wallets that acquired TRX three to five years ago.
Despite the sell-off, TRX remains steady at around $0.33, highlighting the market’s ability to absorb large movements. Monitoring whether selling slows or new demand appears will be crucial in determining if this support can hold.
Cold Wallet’s Two-Way Earning Model
Cold Wallet is not only offering a presale but also building a system where users can earn from the outset. Its referral plan provides instant rewards to both parties. During the presale, anyone who refers a new buyer receives an additional 10% CWT, while the invited user gets 5% more.
Additionally, even before the official launch, users can earn real USDT from swap activities. This creates a two-way earning setup, allowing participants to receive bonuses now and cashback in the future, encouraging long-term engagement.
Current market events, such as Dogecoin's test of its support level and Tron's stability after the sell-off, underscore the volatility in the cryptocurrency space. Cold Wallet, with its unique earning model, offers interesting opportunities for market participants.
