BlockDAG Hits 1.5M Users, While Shiba Inu Burns 538M Coins & Dogecoin Faces Pressure

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Crypto hype often overshadows genuine utility, but certain projects are demonstrating encouraging signs of real-world traction. Shiba Inu recently executed a significant burn event, eliminating over 538 million coins in a single day, while Dogecoin's performance has prompted questions about whether its recent uptrend is losing momentum. These two cryptocurrencies remain prominent, though perhaps for different reasons than before.

In contrast, BlockDAG (BDAG) continues to gain ground by focusing on practical application. Its X1 Miner app has surpassed 1.5 million active users, all contributing directly to its testnet. With increasing adoption and sustained momentum behind its ongoing presale, BlockDAG's narrative is increasingly centered on genuine user engagement rather than speculative price discussions.

BlockDAG’s X1 Miner App Reaches 1.5 Million Users as Presale Gains Momentum

BlockDAG has achieved a significant milestone with over 1.5 million users actively participating in its network through the X1 mobile app. This figure represents more than mere downloads; it indicates active contributions to BlockDAG's testnet via smartphone-based mining. This is a strong indicator that BlockDAG's mobile-first approach is resonating with a growing user base that is actively involved and supports the project's network development as the mainnet launch approaches.

Regarding the presale, BlockDAG is experiencing increased interest as key metrics continue to improve. The campaign has successfully raised over $290 million, with over 22 billion units already sold. The presale is currently in batch 28, priced at $0.0262. However, a limited-time offer allows participants to secure pricing as low as $0.0020 until June 13, presenting a potential return of 2,520 percent based on the original batch rate.

This combination of growing user participation and a time-sensitive presale offer positions BlockDAG as a notable cryptocurrency. As its mobile-first ecosystem expands and prepares for the June 13 GO LIVE Reveal, its value is being assessed based on tangible engagement rather than mere speculation. The significant number of users actively supporting the testnet through the X1 app indicates a strong foundation of consistent daily use.

Shiba Inu (SHIB) Token Trend Spikes with 538 Million Burned in a Single Day

Over 538.48 million Shiba Inu coins were burned within a 24-hour period, reflecting a marked increase in activity related to supply reduction. This burn event coincides with heightened interest in the Shiba Inu (SHIB) token, and the burns were distributed across 55 individual transactions, suggesting broad community involvement. For supporters of the SHIB ecosystem, this signals continued user engagement even during periods of market uncertainty.

This type of substantial supply reduction can influence the market equilibrium over time, potentially leading to stronger price levels if demand remains consistent. It also demonstrates that SHIB's internal mechanisms, such as the burn system, are functioning as intended. Coupled with ongoing development within the ecosystem, this significant burn event has maintained SHIB's visibility, particularly among those focused on deflationary models.

Dogecoin (DOGE) Bearish Trend Raises Concerns as Chart Weakens

Dogecoin's recent chart patterns are causing concern among traders. After reaching $0.259 on May 11, DOGE has retraced to approximately $0.228. While not a drastic decline, the price action is now exhibiting lower highs, which may indicate a weakening trend. Technical analysts are noting the absence of a clear five-wave structure, typically observed in strong upward movements, as a potential sign that the recent rally may have been unsustainable.

Some analysts are anticipating a deeper correction, possibly towards the $0.199 to $0.183 range. This scenario could materialize if DOGE falls below $0.21, a crucial support level. Conversely, any movement above $0.247 could alter the outlook. Until then, the current Dogecoin (DOGE) bearish trend is being closely monitored as a potential precursor to further price declines.

In Summary

Shiba Inu has maintained its presence in the news through substantial burn events, and Dogecoin remains relevant due to ongoing technical analysis. However, the focus on both often revolves around price fluctuations or technical indicators. BlockDAG is taking a different approach. Its growth is tied to demonstrable user engagement, not just speculative hype. The X1 Miner app surpassing 1.5 million users provides evidence of real-time participation.

As the presale approaches a critical stage and users continue to support the testnet through daily mining, BlockDAG is progressing steadily. In a market where many projects prioritize visibility through attention-grabbing headlines, BlockDAG's traction is being driven by tangible user activity, not just future promises. Among current cryptocurrencies, this type of measurable utility could prove to be a key differentiator.