The crypto market is still struggling to find its footing, and analysts expect further price declines for several projects. Solana and Dogecoin appear shaky
Cryptocurrency prices continued to fluctuate on Wednesday, with several projects facing the possibility of further price declines. Among the cryptos that have been struggling to maintain their current levels are Solana and Dogecoin.
Solana (CRYPTO: SOL) appeared shaky on Wednesday, as the token faced pressure to sustain its recent gains. Following a 40% surge in the days following the Monday crash, Solana surged to the $150 level and began trading in a narrow channel around that mark.
Solana quickly recovered from the initial market downturn and began a strong uptrend, outpacing other major cryptos in the recovery. Despite the recent gains, several analysts believe that Solana is poised to revisit lower levels before the next surge. However, the overall technical picture is still bullish, as Solana continues to trade above the 200-day moving average.
Recently, news broke that the Brazilian SEC has approved a spot Solana ETF. However, the final decision on whether or not to launch the ETF now rests in the hands of the Brazilian stock exchange, which has yet to announce when exactly this will happen.
Dogecoin (CRYPTO: DOGE) also appeared to be losing momentum on Wednesday, with the token struggling to build on its recent gains from the lows. Dogecoin has been ranging around the $0.10 level for almost a week now, following a strong rebound from the lows.
After hitting a low of $0.08 during the Monday market crash, Dogecoin quickly recovered and began moving in a sideways channel. Its momentum seems exhausted for now, although Dogecoin appears set for another uneventful week.
Onchain analysis shows that whale activity is increasing, as large holders are consistently adding to their Dogecoin positions. A clean break above $0.11 could renew the Dogecoin momentum and send it back to the yearly peak of $0.20.
Crypto casino Rollblock is set to revolutionize the online gambling scene with its seamless integration of TradFi and DeFi gambling. A brainchild of gambling and crypto enthusiasts, Rollblock is poised to disrupt the $450 billion online gambling industry.
Combining the best aspects of both worlds, Rollblock is powered by blockchain technology to ensure that all bets are easily traceable. This also makes it impossible to manipulate any bets once they have been placed.
Another unique feature is that the casino requires no KYC verification, allowing users to enjoy complete anonymity. Individuals just need to connect their crypto wallets to get started with one of the 150 games available.
Aside from being a groundbreaking crypto casino, Rollblock also boasts a unique revenue-sharing model. The casino uses up to 30% of the generated profits to buy back RBLK tokens.
Half of this amount is burned from the total supply, and the other is distributed as staking rewards, offering some of the highest APYs in the crypto market.
Currently in stage 5 of the presale, Rollblock has already managed to raise over $2 million. The RBLK token is priced at $0.02 during this stage, and it is expected to soar by 800% by the end of the final stage.
As the crypto gaming narrative starts gaining more steam, a 100x multiplier seems like a plausible scenario. Some analysts agree that RBLK could reach $1 by the end of 2024, offering huge returns for investors who get involved during the early presale stages.
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