The recent decline in Bitcoin’s price has had a ripple effect across the cryptocurrency market, hitting major tokens hard. Dogecoin has seen a significant drop this week, losing its bullish momentum. Solana, which had a spectacular rise in late July, nearing $200, has also faced a sharp downturn.
In contrast, Digihorse’s DIGI token, currently in its presale phase and listed at $0.003333, is attracting considerable attention. Predictions suggest that the token will see a significant increase by the time it reaches stage 2 of its listing.
Solana Faces Severe Price Drop
Solana’s price plummeted over 36.72% within a week, with key trading sessions on August 1st and 3rd marking significant losses. Initially, the cryptocurrency dropped more than 10% to around $150, largely due to traders liquidating positions—over $22.44 million in both long and short bets, with longs suffering most amid a bearish outlook.
The downturn continued on August 3rd, with an additional 8% loss in just 24 hours, pushing Solana below the crucial $157 support level. This breach deepened market pessimism, hinting at a potential fall towards $120.
Dogecoin’s Intense Sell-Off Pressure
Dogecoin has experienced a turbulent period, with substantial liquidations shaking its market over the past two days. According to Coinglass, approximately $360 million in Dogecoin trades were erased, including a significant disparity between long and short positions—$299 million of longs and $59.07 million of shorts were liquidated.
The past 24 hours were particularly harsh, with $246.84 million in longs wiped out, starkly contrasting with $35.16 million in shorts, reflecting a prevailing negative market sentiment.
The impact on Dogecoin’s value is evident, as it has declined 35% over the last week, now trading at $0.08655. Analysis of wallet activity indicates that while 74% of active Dogecoin wallets are currently ‘in the money,’ the remaining 25% are at a loss. This distribution suggests potential sell-off behaviors among profit-taking holders, aiming to capitalize before potentially buying back at lower prices.
DigiHorse (DIGI) Lucrative Presale and Immersive Gaming Experience
DigiHorse Empires is capturing significant investor interest in its presale phase, with $DIGI tokens priced attractively at $0.003333 each from a total supply of 1,125,000,000. This strategic pricing ensures scarcity and potential value appreciation over time.
Beyond its appealing presale, DigiHorse Empires is revolutionizing the Web3 gaming space by merging Play-to-Earn (P2E) mechanisms with immersive, blockchain-powered gameplay. Players can earn real-world value through a fully interactive virtual environment where they can socialize, strategize, and engage in rewarding activities.
The platform’s vibrant marketplace offers a variety of AI-powered NFT wearables, allowing players to customize their horses with stylish accessories, enhancing both aesthetics and performance.
As DigiHorse continues to expand its ecosystem and execute its roadmap, it is poised to become a leading entity in the cryptocurrency and gaming landscapes, making DIGI one of the most promising DeFi tokens to invest in this year.
Learn More About the Thrilling Opportunities of DigiHorse ($DIGI) Presale Now!
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