The crypto market is buzzing with the latest developments emerging from the landscape. On the one hand, Shiba Inu (SHIB) experienced a surge in on-chain activity, while Solana (SOL) faces scrutiny ahead of the possible FTX liquidation event, which will see millions of SOL dumped. On the other hand, Pomerdoge (POMD), a new contender in the crypto scene, has been gathering momentum and becoming a favorite of savvy investors.
Shiba Inu (SHIB) Surges in On-Chain Activity, Solana (SOL) Faces FTX Liquidations Concerns, Pomerdoge (POMD) Gains Momentum
In the Latest Crypto Developments, Shiba Inu Experiences an Uptick in On-Chain Activity, Solana Grapples With Concerns Stemming From FTX’s Potential Dump of SOL, and Pomerdoge Makes Incredible Strides.
Pomerdoge?(POMD)
Pomerdoge?(POMD)
Shiba Inu (SHIB): Uptick in On-Chain Activity
Shiba Inu (SHIB) is a key player in the crypto market. It is currently the second-leading memetoken in the ecosystem, and it is ranked 16th in the broader crypto market. While it started as a memecoin, it has shifted to include tangible utility after the launch of Shibarium. This is a layer-2 blockchain network that introduces utility into the Shiba Inu ecosystem.
According to recent data, a surge in Shiba Inu’s on-chain activity was revealed. This suggests a heightened level of interest and participation among users and investors. A key factor that contributed to this development was the launch of Shibarium.
Further, the uptick is also an indicator of its thriving ecosystem and growing support from its community. This makes Shiba Inu one of the tokens to watch in 2023.
Solana (SOL): Over $1 Billion in Selling Pressure
Solana (SOL) is a blockchain platform that gained traction for its high-speed transactions and scalability. However, there have been concerns about its future price outlook in light of a potential FTX liquidation. The collapsed crypto exchange is aiming to secure court approval for its liquidation effort, which notably has a staggering $1.16 billion worth of Solana tokens.
This puts over $1 billion in selling pressure on Solana, with this anticipated asset sale coinciding with a dip in the token’s price. As the largest holding of the defunct crypto exchange, Solana will likely be among the worst hit as its supply will be flooded in the event of liquidation.
However, some traders have pointed out that this dump, assuming FTX gets court approval, won’t happen instantly but will spread across months or years. This will help mitigate the price impact, meaning Solana might escape a substantial effect of the massive offload.
Pomerdoge?(POMD): Upward Trajectory and Soaring Adoption
Amidst Shiba inu and Solana uncertainty, Pomerdoge continues its momentum and upward trajectory. At the time of writing, the project had raised over $3.7 million in its fundraising effort. Several factors contribute to this impressive figure, including its robust ecosystem and solid fundamentals.
Its vibrant ecosystem will comprise a?thrilling play-to-earn (P2E) game, a gaming marketplace and arena, and an NFT collection. Its upcoming Web3 game will connect players from across the globe and foster interaction. Further, gamers will enjoy a fun gaming experience as they earn tokens.
Additionally, players can battle with one another within the gaming arena and trade items collected in-game in the marketplace. This shows the project’s dedication to the community, as it provides different sources of passive income, including via staking.
Regarding NFTs, the platform is?home to 7,777 non-fungible tokens. With the POMD?presale ongoing, it offers a unique opportunity to be an early adopter of a fascinating project. Its current price is $0.014, which experts predict will rally by 50x in 2023.
Find out more about the Pomerdoge (POMD) Presale Today:
Website: https://pomerdoge.com/
Telegram Community: https://t.me/pomerdoge
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