BlockDAG X1 Miner App Reaches 500K Users: Shiba Inu Rally Questionable as XLM Price Drops

4 mins mins

In the current market scenario, XLM is exhibiting an inverted cup and handle pattern, suggesting a further decline in its price. An analysis into the XLM price drop shows that traders holding short positions have gained the upper hand, over-leveraged at the $0.355 level with $5.25 million in short positions at risk.

BlockDAG X1 Miner App Reaches 500K Users: Shiba Inu Rally Questionable as XLM Price Drops

Amidst the focus on the XLM price drop, a notable movement of 1.23 Trillion SHIB by a crypto whale was observed, likely aimed at sparking a Shiba Inu rally. While some traders remain poised to capitalize on a potential Shiba Inu rally, BlockDAG (BDAG) offers an attractive alternative for generating passive income through the BlockDAG X1 Miner app.

What Led to the XLM Price Drop?

On February 6, 2024, an XLM exchange liquidation map uncovered that traders with long positions were excessively leveraged at the $0.3057 level, holding $2.26 million in long positions. Meanwhile, those in short positions have taken control, significantly over-leveraged at $0.355, with $5.25 million in short positions.

The XLM price has shown a consistent downward trend with no clear signs of recovery, indicating that the bearish trend is intensifying. The ongoing economic tensions among major global players like the United States, Mexico, Canada, and China are exacerbating the negative market sentiment and contributing to the continuous drop in XLM price.

Can 1.23 Trillion SHIB Spark a Shiba Inu Rally?

On the same day, Whale Alert reported on X (formerly Twitter) that a crypto whale had transferred 1.239 trillion SHIB tokens, valued at $20.136 million, from Kraken. This transfer could be a preparatory move for a possible Shiba Inu rally, although the market for SHIB is currently bearish, with a significant price drop of over 35% and a crucial support level at $0.000015.

Should SHIB maintain this support, it might surge by 30% to $0.000020 in the near future. However, current market sentiments, influenced by global economic tensions, do not favor a Shiba Inu rally.

BlockDAG X1 Miner Review: The Next Top Crypto Miner?

In these volatile times, when market manipulation is prevalent, relying solely on crypto trading for passive income could be precarious. Nevertheless, mining via the BlockDAG X1 Miner app emerges as a viable alternative. The app, known for its intuitive and user-friendly interface, simplifies mining—a hallmark of a top crypto miner.

Both beginners and experts in the app are finding success and ease in mining, contributing to the app’s rapid growth to 500K users and establishing it as a leading crypto miner.

Not only has the mining app created a buzz in the crypto sphere, but BlockDAG’s (BDAG) presence is also strengthening in the mining industry with nearly 16,000 crypto mining rigs sold during its presale. With robust performance metrics, such as surpassing 500K users on the miner app and selling close to 16,000 miners, the BDAG token is also appreciating in value.

The project has amassed $196 million and sold 18.5 billion coins during the presale. With the 27th batch of BDAG coins priced at $0.0248 and only a few remaining, they are expected to sell out imminently. Acting swiftly could be crucial for those looking to join this promising venture and potentially secure substantial profits.

What’s Next?

The sensitivity of the crypto market to geopolitical events has notably influenced the XLM price drop, with the formation of an inverted Cup and Handle pattern indicating further challenges for the token.

Conversely, Shiba Inu might be gearing up for a potential rally. In these uncertain times, securing a steady passive income through the BlockDAG Miner app, a top crypto miner known for its proven reliability and expanding user base, could be a prudent strategy.