Top Altcoins: Avalanche and Shiba Inu Dip as BlockDAG Presale Surges to $66.7M

Avalanche and Shiba Inu Under Pressure, While BlockDAG Presale Gains Momentum

Avalanche (AVAX) investors are currently facing uncertainty as the token’s price drops by 10%, raising concerns about the overall market stability. Similarly, Shiba Inu (SHIB) is under strain, with $100 million worth of the token being offloaded, leading to attempts to stabilize its price at $0.000015.

Avalanche Traders Face Challenges

In early August, Avalanche (AVAX) experienced a 10% dip in its price, sliding from $29.55 to $26.19. This decline is in line with broader market trends, as investors adopt more cautious strategies, leaning towards bearish positions. Data from Santiment indicates that AVAX’s Funding Rate has turned negative, now at -0.017%.

The bearish outlook is further supported by AVAX’s “Addresses by Time Held” metric. The daily AVAX/USD chart shows a rounding top pattern, a bearish signal that could push the price down to $25.54.

Shiba Inu Price Forecast: What’s Next?

Shiba Inu (SHIB) is facing intense selling pressure, causing its price to drop to $0.00016. Short-term traders are exiting, which could drive the price even lower, potentially below $0.000015. Despite hopes for a price rally following Donald Trump’s appearance at the Bitcoin Nashville conference, attention remained on larger assets, leaving SHIB and other meme tokens struggling to gain momentum.

According to IntoTheBlock’s Exchange Order Books, a substantial amount of SHIB—over 5.9 trillion tokens—is listed for sale at around $0.000017. This suggests that up to $100 million worth of SHIB could be sold off shortly.

BlockDAG Presale Soars to $66.7M Following Alex Pereira Partnership

In contrast, BlockDAG (BDAG) is displaying remarkable resilience during its presale. The project’s strategic partnership with UFC Light Heavyweight Champion Alex Pereira as its brand ambassador has significantly bolstered its market presence. This collaboration ties BlockDAG to Pereira’s strong presence in the UFC, representing power, resilience, and triumph. Just as Pereira dominates in the ring, BlockDAG aims to revolutionize the blockchain industry with its innovative technology.

Since bringing Alex Pereira on board, BlockDAG’s presale numbers have surged, aiming for a lofty target of $600 million. The project has already raised $66.7 million in a short period, reflecting the market’s enthusiasm and confidence in BlockDAG.

Key Takeaways

• BlockDAG’s Partnership: The collaboration with UFC champion Alex Pereira has significantly boosted BlockDAG’s visibility and market presence.
• Avalanche Challenges: AVAX traders are navigating a challenging market with a bearish outlook as the token’s price dips.
• Shiba Inu Selling Pressure: SHIB faces intense selling pressure, with $100 million worth of the token potentially being offloaded.
• BlockDAG’s Growth: With over 12.6 billion BDAG coins sold and $66.7 million raised, BlockDAG is solidifying its position as a top altcoin to consider in 2024.

As BlockDAG aims for a $600 million presale, it’s catching the attention of Shiba Inu and Avalanche traders. While AVAX traders are navigating a challenging market and SHIB faces selling pressure, BlockDAG shows real potential for growth. Thanks to its association with Alex Pereira, BlockDAG has established itself as a prominent contender among altcoins.