Shiba Inu Plunges 5% Post 600M Token Burn; TON Stalls & BlockDAG Presale Tops $358M
Shiba Inu’s price dropped nearly 5% despite burning a record 600 million tokens in 24 hours and a 16,700% surge in its burn rate. This shows that a Shiba Inu burn does not guarantee immediate price support. Toncoin remains range-bound below the $3.35 Fibonacci resistance. A breach of $3.29 support could push it down to $3.26, while a rebound above $3.36 may target $3.42. In contrast, BlockDAG’s presale has raised $358 million by selling 24.6 billion tokens. The campaign attracted over 4,500 developers across 300 Web3 projects. Priced at $0.0016 in the presale, BlockDAG tokens could see significant upside to a potential $0.05 listing. Traders should monitor token burns, key Fibonacci levels for TON, and BlockDAG’s presale milestones for trading signals.
Neutral
The mixed outcomes across the highlighted cryptocurrencies lead to a neutral overall outlook. Shiba Inu’s 5% decline despite a record token burn underscores limited short-term bullish potential from burning events, weighing on immediate price momentum. TON’s sideways movement below key Fibonacci levels indicates neutral short-term sentiment until a clear breakout or breakdown materializes. Conversely, BlockDAG’s successful $358 million presale and expanding developer ecosystem provide positive long-term catalysts. Given the simultaneous bearish, neutral, and bullish signals, traders are likely to adopt a cautious stance, resulting in a neutral market impact overall.