Dogecoin (DOGE) in Downtrend: $0.40 Level Critical
Dogecoin (DOGE) has been continuing its downtrend in recent days, remaining below the 20-day moving average (SMA). Although it showed signs of recovery last week, the price’s decline below the $0.40 level shows that sellers are still strong in the market. DOGE is struggling to break above the 20-day SMA level, and the fact that this level is forming a strong resistance is increasing investors’ anxiety.
DOGE continues to seek support, but the current market outlook is uncertain. If buyers fail to break above $0.40, the probability of the price moving lower may increase. However, in a possible recovery scenario, DOGE’s upward movement may come to the agenda again. While high volatility is expected in the crypto market in the short term, investors are closely following DOGE’s struggle at critical levels.
Aiming to solve scalability issues in the Solana ecosystem, Solaxy has quickly attracted the attention of crypto investors. Solaxy’s native token, SOLX, has gained great momentum since the day it started pre-sale.
The project is off to a strong start, raising more than $1 million in funding in the last 24 hours alone, bringing its total donation to $2.5 million. With these developments, Solaxy stands out as a new Tier 2 solution with remarkable potential.
As of 2024, the Solana network is attracting the attention of investors looking for an alternative to Ethereum with its low transaction costs and fast transaction times. The network has experienced a huge transaction volume explosion, especially due to the influence of meme coins. However, this has caused significant problems in the Solana network.
Network congestion, failed transactions, and scalability issues are among the main problems Solana faces. Solaxy stands out as the first Layer 2 protocol developed to solve these problems.
Solaxy aims to add a layer to the Solana ecosystem, offering faster transaction times, lower costs, and higher transaction efficiency. However, what really makes Solaxy stand out is that it not only solves existing problems, but also combines the liquidity of Ethereum with the performance of Solana. This innovative approach could make Solaxy a strong bridge between two major blockchain ecosystems.
Solaxy’s native token, SOLX, operates on a multi-chain structure. This token, which can be used on both Ethereum and the Solana network, has strong potential to reach users of both ecosystems.
Crypto investors who invest in early-stage projects are interested in projects with the expectation of high returns. Buying Solaxy tokens is considered an opportunity to meet this expectation.
The SOLX token aims to not only improve the performance of the Solana network but also benefit from the high liquidity and security in the Ethereum DeFi ecosystem. Especially at a time when the Solana network is still experiencing congestion, such a Layer 2 solution could become an attractive option for investors.
Solaxy also offers investors the opportunity to earn passive income through its staking mechanism. Over 820 million SOLX tokens have been staked so far. Investors who stake early have the chance to earn higher rewards thanks to dynamic returns.
Although Solaxy’s presale has just begun, purchasing Solaxy tokens has quickly become one of the most popular options among crypto investors, with investors’ interest driven by the project’s innovative features as well as the opportunity for early participation.
The increasing demand for Layer 2 solutions puts Solaxy in a good position in terms of timing. For example, the recent funding round for Pepe Unchained, Ethereum’s Layer 2 solution, which raised over $74 million, shows the high interest in Layer 2 projects. With this interest, new meme coin projects like Solaxy are rapidly gaining popularity among investors.
Solaxy targets Ethereum’s user base while solving bottlenecks in the Solana ecosystem, creating a framework that could both address Solana’s current issues and provide an attractive alternative for Ethereum users.
As with any crypto project, there is no guarantee of success. However, the funding that Solaxy received in a short time can be considered an important indicator of investors’ confidence in the project.
Layer 2 solutions are becoming increasingly important in the crypto world, and Solaxy stands out as a player with great potential in this space. Solaxy’s name could be heard more often, especially if it can provide a fast and effective solution to Solana’s current problems.
The pre-sale price of SOLX is currently set at $0.001568. However, it is expected that the price will increase soon.