With the prevailing market conditions, XLM seems to be forming the inverted cup and handle pattern which further will make XLM price drop. While delving into the analytics of XLM price drop, it was revealed that traders with short positions are in control, being over-leveraged at the $0.355 level, with $5.25 million in short positions at stake.
When XLM price drop had the crypto community’s attention, a crypto whale moved 1.23 Trillion SHIB probably attempting to ignite a Shiba Inu rally. As some traders wait to cash in on a probable Shiba Inu rally, BlockDAG presents a better opportunity to earn some passive income with BlockDAG X1 Miner app.
What’s the Reason for XLM Price Drop?
On February 6, 2024, the XLM exchange liquidation map revealed that traders holding long positions are overstretched and over-leveraged at the $0.3057 level, with $2.26 million in long positions. Meanwhile, short-position traders are taking control, being over-leveraged at $0.355, with $5.25 million worth of short positions.
The XLM price drop has been consistent, with no significant signs of recovery, and it appears that the bearish trend is gaining strength. One possible reason for the bearish sentiment and the ongoing XLM price drop could be the negative price action, compounded by ongoing economic tensions between the United States, Mexico, Canada, and China. This situation has contributed to the continued XLM price drop, fueling a more pessimistic outlook.
1.23 Trillion SHIB Moved, Can This Trigger a Shiba Inu Rally?
On February 6, 2024, Whale Alert posted on X (formerly Twitter) that a crypto whale transferred 1.239 trillion SHIB tokens, worth $20.136 million, from the Kraken cryptocurrency exchange.
This could be a sign of a Shiba Inu rally in the future, as the whale may be positioning itself for a rebound. However, the Shiba Inu market is currently experiencing a crash and SHIB has witnessed a price drop of over 35% and has reached the crucial support level of $0.000015. If SHIB holds this support level, there is a strong possibility it could experience a Shiba Inu rally, potentially soaring by 30% to reach the $0.000020 level in the coming days. However, the current sentiment seems unfavorable for the predicted Shiba Inu rally due to the ongoing economic tensions between the US, China, Canada, and Mexico.
BlockDAG X1 Miner – Is It The Next Top Crypto Miner?
During uncertain times like these when the crypto market is manipulated, investors relying on trading crypto for passive income could be in a spot of bother. However, one of the best ways to earn passive income is by mining on the BlockDAG X1 Miner app. The app features an intuitive, user-friendly design that makes mining easy– a trait of a top crypto miner.
Newcomers to the app have mastered the art of mining and are enjoying the benefits while experts are getting about their business with ease. The BlockDAG miner app crossed 500K within a short period of time making it the top crypto miner.
It’s not just the mining app that has taken the crypto world by shock but BlockDAG (BDAG) is gaining significant traction in the mining industry, with nearly 15,850 crypto mining rigs sold during its presale. Since BlockDAG is performing well from all ends, like surpassing 500K users on the miner app and selling nearly 15,850 miners, its token, BDAG is also gaining value.
As such the project has raised a total of $194.5 million and sold 18.4 billion coins during the presale. The 27th batch of BDAG coins priced at $0.0248 have just a fraction of the supply remaining. At the rate BDAG is selling out, these could be gone in the nick of time. A little haste to pounce on the opportunity could mean the difference between being a part of an incredible journey or missing out on profits.
What Does the Future Hold?
The crypto market is very sensitive to geo-politics, which was why XLM price dropped. With the inverted Cup and Handle pattern forming on the XLM chart, it does not seem like better days are coming for the token. On the other hand, Shiba Inu could be gearing up for a rally.
However, during treacherous times like this it would be a good option to have constant passive income by using the BlockDAG Miner app. With 500K users already using it, the application is reliable and ensures a constant income.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: Any information written in this press release does not constitute investment advice. Optimisus does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Optimisus is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.
