Shiba Inu (SHIB) started March higher, hitting a new yearly high. However, the rally did not last long. Currently, the memecoin is trading at a critical level, but the actions of whales and retail investors hint at the development of a positive scenario. BlockDAG, a new blockchain inspired by Kaspa, promises lightning-fast transactions, robust security, and a decentralized future.
Whales continue to buy Shiba Inu in bulk
Although Shiba Inu’s price corrected by more than 30%, this did not deter large holders. Whales accumulated more than 11 trillion SHIB worth about $337 million in March, according to analytics platform Santiment .
Retail investors also remain confident in the asset. At the moment, more than 80% of memecoin holders are at the break-even point and do not seem to be planning to sell tokens, expecting the price to rise.
Technical Indicators Give Bullish Signals for Shiba Inu (SHIB)
After recovering by more than 28%, Shiba Inu price reached the support level of $0.00003000. Based on the above-mentioned factors, Shiba Inu (SHIB) memecoin may bounce off it and start a new rally.
Moving Average Divergence (MACD), a momentum indicator used to identify bullish and bearish trends, is also on the verge of a bullish crossover. This means that SHIB is preparing for a new breakthrough and could potentially get close to the yearly high of $0.00003599 again.
However, if the $0.00003000 level fails, the altcoin could fall to the nearest support at $0.00002855 or even $0.00002500.
BlockDAG Aim is to be the fastest & most secure Layer 1 Blockchain
BlockDAG aspires to become the world’s fastest and most secure layer 1 blockchain, overcoming the limitations of traditional proof-of-work systems. Inspired by Kaspa’s success, BlockDAG leverages a Directed Acyclic Graph (DAG) structure to streamline transaction processing. This innovative approach enables the network to add multiple blocks simultaneously, significantly accelerating transaction speeds without compromising security.
BlockDAG’s security hinges on a next-generation hybrid consensus mechanism that discourages hashing supremacy attempts. The network utilizes advanced encryption exceeding Bitcoin’s SHA-256 standards, ensuring top-tier security while maintaining low resource consumption. This translates to energy-efficient mining compared to Kaspa and Bitcoin, making BlockDAG a more sustainable option. To further prevent mining centralization, BlockDAG employs a difficulty adjustment system that adapts to each miner’s computational power. This ensures smaller mining pools can still participate effectively, fostering a more decentralized network.
BlockDAG: A Platform for the Future of DeFi
Looking beyond its core functionalities, BlockDAG envisions a future brimming with advanced DeFi applications. By incorporating lessons learned from Kaspa’s near-instantaneous confirmation times, BlockDAG aims to push the boundaries of speed and efficiency. The network aspires to surpass Bitcoin’s confirmation time of 10 minutes, offering significant improvements for users and developers. BlockDAG’s commitment to security and speed makes it an ideal platform for smart contracts that will power the next generation of DeFi services. With its robust architecture, BlockDAG caters to businesses and services requiring instant confirmations and unparalleled security, solidifying its position as a future-proof blockchain solution.
