The Whale Alert blockchain tracking platform reported a 990 million Dogecoin (DOGE) transfer between wallets on January 16th. DOGE might experience a decline due to increased circulation and Open Interest on exchanges.
Contrastingly, Shiba Inu (SHIB) faced a retracement on January 3rd amid Bitcoin’s selling pressure but later broke the bearish market structure. Moreover, leveraging innovative technology, BlockDAG Network (BDAG) introduces miners and provides various income streams & profit opportunities. Can BDAG be the next crypto to boom? Let’s find out why!
Whales Transfer 990 Million DOGE in Shock Move
The blockchain tracking platform Whale Alert reported a transfer of 990 million Dogecoin between wallets on January 16th. The coins were estimated to be worth $79.75 million, yet Whale Alert acknowledged the challenge of verifying the public profiles of the participants in the transaction.
If the coins were sent to an exchange, it might imply they were intended for sale. However, it’s still being determined whether the transaction would indeed result in a sale. Despite this uncertainty, such transactions are generally considered “normal” within the DOGE ecosystem.
On the other hand, the rise in circulation and Open Interest indicates a possible decline in DOGE. The Accumulation/Distribution indicator also supports this potential, suggesting a lack of both distribution and accumulation. In this scenario, DOGE might fall below $0.08 or continue trading within the range of $0.080 and $0.083 for now.
How Long will Shiba Inu Pullback Last?
Shiba Inu experienced a pullback on January 3rd amid strong selling pressure in the Bitcoin market. Initially appearing poised for a downtrend, SHIB surprisingly broke the bearish market structure a week later. In the second week of January, a whale withdrew $10.27 million worth of SHIB from centralized exchanges, sparking speculation of a price rise. This speculation proved accurate as prices rallied by nearly 10% a few days later, reinstating a bullish market structure.
Examining the Open Interest trend of Shiba Inu in the initial two weeks of January, the OI experienced a major drop on the 3rd, coinciding with a crash in prices. Subsequently, the OI failed to rebound. Each price bounce, like the one observed from the 8th to the 11th of January, did not coincide with an OI increase, signaling a lack of confidence in the future market. As prices declined later, the OI followed suit, reflecting short-term bearish sentiment.
BlockDAG Network: The Next Crypto to Boom
BlockDAG Network stands out with its innovative utilization of the Directed Acyclic Graph structure and the Proof-of-Work consensus mechanism. Currently priced at $0.001, BlockDAG allows early investors to earn 10x returns upon its official launch.
Backed by a clear roadmap and team confidence, investors can capitalize on BDAG’s growth and potential market dominance. BDAG also enhances profit potential through diverse income streams, including Coin Investment Strategy, Mobile Mining Convenience, Trade Miners for Versatility, and Dedicated Miner Units, catering to investors with varied risk appetites and preferences.
BDAG Coin distinguishes itself with user-friendly mining experiences with its BlockDAG x1 mobile app and home-based mining machines. These miners make crypto mining accessible to newcomers and provide a passive income stream. BDAG’s focus on user-friendliness, energy efficiency, and rewarding structures highlights its commitment to inclusivity and ease of use, appealing to a broader audience.
Considering the challenges faced by Dogecoin and Shiba Inu, BlockDAG Network emerges as a promising contender for the next crypto boom. While DOGE wrestles with a 990 million coin transfer and SHIB experiences uncertainties, BDAG’s innovative approach and profit-making investment opportunities stand out. With a clear roadmap, diverse income streams, and user-friendly mining experiences, BDAG presents an unmissable opportunity for investors seeking growth and market dominance. Do not wait to own your BDAG!
Join BlockDAG Network:
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetwork
Discord: https://discord.gg/Q7BxghMVyu
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