Solana and Avalanche experience pressure from the emergence of a new DOGE rival, WallitIQ.
Current Crypto Market Situation
Despite growing bullish sentiment in the crypto market, Solana and Avalanche have recorded significant price declines. Solana has dropped 20.4% from its previous peak of $294. The 24-hour trading volume has also decreased by over 40%.
Avalanche Price Potential
Despite impressive scalability and efficiency, Avalanche's price fell by 11% last month to $35.2. Analysis indicates that the Avalanche price is trapped in a descending triangle pattern, needing to overcome the resistance zone between $37 and $38 to unlock upward potential.
WallitIQ's Success and Future Development
WallitIQ has shown a successful presale campaign, attracting analysts' attention as a DOGE rival. The project plans to launch a beta platform offering innovative features like AI-supported trading and advanced wallet functionalities.
The emergence of WallitIQ could potentially reshape the crypto landscape, posing a serious challenge to coins like Solana and Avalanche.
