BlockDAG surpasses 1.5 million users as Shiba Inu burns 538 million coins and Dogecoin encounters pressure.
BlockDAG has achieved a notable milestone recently, surpassing 1.5 million users utilizing its X1 mobile application for mining. This statistic is more than just a download count; it indicates active participation in BlockDAG’s testnet through mobile-based mining operations. The increasing number of users engaging with the project’s network development demonstrates a distinct rise in interest in BlockDAG’s mobile-centric strategy, with an expanding user base that actively contributes on a daily basis as the mainnet’s launch approaches.
In parallel to this success, BlockDAG’s presale campaign is amassing increasing attention as the figures continue to climb. The campaign has raised upwards of $290 million, with over 22 billion units already sold. The current batch – batch 28 – is priced at $0.0262, but a limited-time offer allows participants to secure pricing as low as $0.0020 until June 13, offering a potential return of 2,520 percent based on the original batch rate.
The combination of heightened user engagement and a time-sensitive presale offer positions BlockDAG as one of the prominent cryptocurrencies at present. With a burgeoning mobile-first ecosystem preparing for the GO LIVE Reveal on June 13, BlockDAG’s momentum is bolstered by consistent daily utilization by numerous users supporting the project through the X1 app.
As BlockDAG surges with growth and user activity, Shiba Inu has garnered attention for its remarkable activity of burning over 538 million coins within a single day. This surge in burn activity reflects an acute focus on supply reduction within the Shiba Inu (SHIB) token trend, with the substantial volume spread across 55 distinct transactions, indicating widespread community involvement. The substantial token burning event serves as a positive signal for investors, underscoring the robust user interest despite sluggish market conditions.
The substantial supply reduction achieved through such aggressive token burning could potentially rebalance the market dynamic over time, generating elevated price levels if demand persists. Moreover, this event underscores the effective functionality of SHIB’s internal mechanisms, particularly the burn system. As the ecosystem experiences continued evolution, this significant burn event has sustained a lively and relevant conversation around SHIB, particularly among enthusiasts monitoring deflationary models.
In contrast, Dogecoin faces scrutiny due to its recent chart patterns raising concerns among traders. Following its peak at $0.259 on May 11, DOGE has retraced to approximately $0.228, hinting at declining momentum. The emergence of lower highs in price action suggests a weakening trend, while the absence of a typical five-wave structure observed in robust uptrends hints at a potentially short-lived rally.
Market observers are monitoring any potential deeper retracement, possibly into the $0.199 to $0.183 range, which may materialize if DOGE breaches the pivotal support level of $0.21. Alternatively, a move above $0.247 could alter the current outlook. Consequently, the prevailing bearish trend surrounding Dogecoin demands close observation as it could signify an imminent correction.
While Shiba Inu and Dogecoin consistently command attention, often related to their price movements or technical indicators, BlockDAG stands out for its progressive approach. Instead of pursuing visibility through hype, BlockDAG’s success is deeply rooted in meaningful engagement. As the X1 Miner app continues to attract users and the presale approaches a critical phase, BlockDAG’s steadfast and methodical development signifies real progress within the cryptocurrency sphere, emphasizing current utility over speculative potential.
