The cryptocurrency market is undergoing changes, marked by significant sell-offs and the emergence of new projects. Spotlight is on the situations with PEPE, Ethereum, and the airdrop launch by BlockDAG.
PEPE Declines Amid Sell-Off
The cryptocurrency PEPE has faced a sharp decline of 18% over the past week. The price has fallen below the 50-day and 200-day moving averages. This collapse was triggered by a whale dumping 2.2 trillion tokens, approximately 0.5% of PEPE's circulating supply. Analysts note negative technical signals, such as a negative MACD and an RSI nearing oversold territory.
Ethereum: Whale Accumulation
Ethereum is showing signs of stabilization following a recent decline. A whale recently purchased 17,070 ETH worth $39 million, increasing its total assets to over 132,000 ETH. Analysts are watching the support level at $2,100, which has held steady. To confirm a short-term recovery, Ethereum needs to break above the $2,350 level.
BlockDAG’s Airdrop Gains Attention
BlockDAG has launched its long-anticipated airdrop of 100 million BDAG tokens, focusing on real user engagement. Participants complete tasks in four categories: Testnet Quests, Presale Quests, Social Quests, and Referral Quests. This initiative not only helps to attract new users but also strengthens the project's ecosystem while gathering valuable feedback.
Given the current changes in the cryptocurrency market, investor attention is shifting towards projects that demonstrate real traction and growth. The BlockDAG airdrop, along with Ethereum's accumulation, underscores the presence of assets that could emerge as significant players in the market.
