In July 2023, the cryptocurrency market attracted attention due to significant movements, particularly in Shiba Inu, Celestia, and BlockDAG. This article examines recent changes and potential trends in these projects.
Shiba Inu’s Supply Shrinks
Shiba Inu (SHIB) is experiencing a significant increase in its burn rate, indicating potential future demand growth. The project is actively utilizing a burn strategy to reduce the total supply. If buying interest remains high, this may lead to an increase in SHIB's price. Despite its status as a meme cryptocurrency, SHIB's use outside of trading remains limited as it is dependent on the Ethereum network.
Celestia Targets Scalability
Celestia (TIA) has shown a 14% price increase, drawing investors' attention to its modular architecture. Unlike traditional blockchains, Celestia separates execution and consensus layers, opening possibilities for flexibility and scalability. However, for it to match the raised interest, the project needs to establish a stronger presence in the market.
BlockDAG X1 App Popularity
BlockDAG is proving its growth through the mobile mining app X1, which has garnered over two million users. The project has raised $336 million and sold 23.8 billion coins. The ease of use of the app and its accessibility to beginners make BlockDAG appealing to a wide audience.
Against the backdrop of these changes, Shiba Inu continues to shrink its supply, which may push the price upward. Celestia offers a unique approach to scalability, while BlockDAG shows real demand with user growth. Each of these cryptocurrencies may influence the market in 2025.
