Avalanche (AVAX) investors are grappling with uncertainty as the coin’s price drops by 10%, signaling a potentially fragile market. Similarly, Shiba Inu (SHIB) is under stress, with $100 million worth of tokens being liquidated, putting pressure on the price to hold at $0.000015.
Conversely, BlockDAG (BDAG) is showing remarkable resilience in its presale. The project has joined forces with UFC star Alex Pereira as its brand ambassador, significantly boosting its market presence. With the ambitious goal of reaching $600 million in its presale, BlockDAG is making headlines, having already raised $66.7 million in a remarkably short time.
Avalanche Traders Face Uncertainty
The first week of August saw Avalanche (AVAX) experience a 10% price drop, declining from $29.55 to $26.19. This decrease mirrors a broader market downturn as traders adopt a more cautious stance, leaning towards bearish positions. Sentiments on-chain data indicate that AVAX’s Funding Rate has turned negative, now standing at -0.017%.
This bearish outlook is further supported by AVAX’s "Addresses by Time Held" indicator. On the daily AVAX/USD chart, a rounding top pattern is forming—a bearish signal that could push the price lower, potentially reaching $25.54.
Shiba Inu Price Outlook: What’s Next?
Shiba Inu (SHIB) is encountering significant selling pressure, pushing its price down to $0.00016. The exit of many short-term traders may drive the price even lower, potentially falling below $0.000015. Despite some hopes for a price bump following Donald Trump’s appearance at the Bitcoin Nashville conference, attention largely stayed on more prominent assets, leaving SHIB and other meme tokens struggling to gain momentum.
Data from IntoTheBlock’s Exchange Order Books reveals that a substantial amount of SHIB—over 5.9 trillion tokens—is being offered for sale at around $0.000017. This could lead to the liquidation of up to $100 million worth of SHIB in the near future.
Alex Pereira Partnership Propels BlockDAG Presale to $66.7M
BlockDAG has made a significant move by partnering with UFC Light Heavyweight Champion Alex Pereira as its brand ambassador. This collaboration ties BlockDAG to Pereira’s commanding presence in the UFC, embodying strength, resilience, and victory. Just as Pereira dominates the octagon, BlockDAG is poised to make a significant impact in the blockchain arena with its advanced technology. This isn’t merely a marketing ploy; it’s a strategic move that enhances BlockDAG’s visibility and reinforces its credibility.
The effect of this partnership is evident, positioning BlockDAG as a formidable player in the crypto space. This collaboration not only attracts traders but also highlights BlockDAG as a key sponsor in a globally watched sport, tapping into new demographics as it gears up for a period of rapid expansion.
Since Alex Pereira joined the BlockDAG team, presale figures have surged in record time, with a target of reaching $600 million. This growth underscores the market’s enthusiasm and confidence in BlockDAG, with over 12.6 billion BDAG coins sold, raising $66.7 million, along with an additional $4.3 million from the sale of more than 10,700 miners. Each phase of the presale has seen a 1600% increase in coin value, rising from $0.001 to $0.017 from the first to the 21st batch, cementing BlockDAG’s status as one of the top altcoins to consider in 2024.
Key Takeaways
BlockDAG’s collaboration with UFC champion Alex Pereira is making a notable impact. Beyond increasing BlockDAG's visibility, this partnership also reflects the project's growth and the rising inflows into its ecosystem, allowing it to assert its strength. As BlockDAG aims to reach a $600 million presale target, it’s drawing attention from Shiba Inu and Avalanche traders. While AVAX faces a challenging market and SHIB deals with selling pressure, BlockDAG demonstrates strong growth potential. Thanks to its alliance with Alex Pereira, BlockDAG is solidifying its position as a leading altcoin.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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