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BlockDAG, after raising $21.4 million and selling more than 8.1 billion coins through its 10th batch, is set to launch with a $100 million liquidity backing and a fixed four-month vesting period to promote trust and fair participation.
At the same time, Ethereum trading is showing a reversal, moving from a bullish to a bearish trend at a crucial technical point. Additionally, Shiba Inu’s market capitalization has slightly decreased by 1.3%, reaching about $15.64 billion.
Ethereum Trading: Analyzing the Bearish Trend and Signs of a Potential Reversal
The Ethereum market is experiencing a downturn, indicating a persistent bearish trend as it moves from a bullish to a bearish phase, according to key technical signals. A rejection at the middle Bollinger Band and the $3,300 resistance point confirms this trend, consistent with the data from April 13’s critical trading day, suggesting a continuation of the bearish trend.
Currently, Ethereum is in a bearish breakout pattern, down 3% over the last day but steady, with a weekly gain of 6%. Bulls must combat downward trends, requiring strength and a surge in trading volume. The average trading volume has increased by 30% in the past 24 hours to $14 billion, showing heightened selling activity.
ETH/USD is trending bearishly like Bitcoin and other altcoins, though a reversal is anticipated. However, the main direction continues downward, with potential selling points below $3,300, aiming for April 2024’s low of $3,000. A surge above $3,300 with increased volume could challenge this bearish outlook.
Shiba Inu: Increasing Value and Impact of Burn Rate
Shiba Inu Coin, a prominent meme coin, has increased by over 2% in the last 24 hours, showing rising confidence. Its market cap has decreased slightly to $15.64 billion, maintaining a top 15 global ranking. Despite a 4% decline over the past month, SHIB has climbed 22% this week, fluctuating between $0.000021 and $0.0000278.
In the last 24 hours, SHIB’s burn rate has soared by about 2200%, removing 1.84 million tokens. This significant increase, coupled with bullish market activity, is boosting optimism. SHIB faces resistance at $0.000027, aiming for $0.00005. Support is at $0.000026, with a potential dip to $0.000025. Selling pressure could push it below $0.000009, indicating a bearish trend. With these factors, SHIB price forecasts continue to captivate.
BlockDAG’s Presale Success & Vesting Approach
BlockDAG has reached its 10th presale batch, collecting an impressive $21.4 million in its ongoing presale. Following its notable presentation of DAGpaper at the Las Vegas Sphere, BlockDAG is now exploring new frontiers, teasing a promotional keynote video set on the moon. With a well-planned roadmap, including a six-month mainnet launch and a target to reach $600 million in 2024, analysts predict a potential 30,000x return for BlockDAG, ranking it among the top cryptocurrencies to buy.
At launch, BlockDAG will be supported by $100 million in liquidity and implement a vesting strategy to bolster project stability and long-term objectives. This strategy aims to preserve stability and mitigate market volatility. In addition, a vesting period for presale coin holders has been introduced to protect the coin’s value and demonstrate commitment to responsible distribution.
Furthermore, BlockDAG strategically showcased a keynote video at Shibuya Crossing, a bustling hotspot in Tokyo known for its heavy foot traffic and global appeal. This creative strategy highlights BlockDAG’s efforts to capture the attention of the cryptocurrency market.
Utilizing such a renowned location, BlockDAG has successfully increased visibility and sparked substantial interest in its new cryptocurrency offering, demonstrating the effectiveness of strategic marketing in the competitive crypto space.
Final Thoughts
Ethereum trading is currently in a bearish breakout pattern, facing downward pressures, while Shiba Inu experiences a surge amidst bullish market conditions, enhancing optimism for SHIB price predictions.
Meanwhile, BlockDAG has implemented a vesting period for coins obtained during the presale to highlight long-term growth, aiming to align interests with the project’s lasting success. This strategic move is highlighted by the presale’s success in raising $21.4M and selling over 8.1B coins, positioning BlockDAG as a top cryptocurrency to consider.
BlockDAG Presale:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
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