Solana News Today: BlockDAG Presale Hits $374M as SHIB Weakens and SOL Rises 12% in 24 Hours

BlockDAG has reached a significant milestone with its presale raising $374 million and distributing $1.206 million in rewards to ten winners, reinforcing its position as a high-performing project in the crypto market [1]. The initiative, which includes the sale of over 25 billion BDAG tokens, has generated a 2,660% return on investment since the launch of Batch 1 [1]. This success is attributed to both strong financial metrics and active community participation, with the prize event emphasizing transparency and credibility by identifying winners by their wallet addresses [1].

SHIB, on the other hand, is facing increased pressure, with on-chain data showing a 78% drop in average holding times and a 24% decline in whale net flows over the past week [1]. The token is currently trading near a key support level of $0.00001295, and a breakdown could lead to further declines toward $0.00001167 [1]. To reverse this trend, SHIB would need to reclaim the $0.00001385 level, a development that depends on strong buying momentum countering prevailing selling pressure [1].

In contrast, Solana (SOL) is gaining momentum, rising approximately 12% in 24 hours to trade near $196 as it approaches the $200 level [1]. The project has benefited from institutional interest, including the DeFi Development Corp’s expansion of its treasury to over 1.3 million SOL, valued at $250 million [1]. Technically, SOL has broken through key resistance levels, with the MACD indicator trending upward and the RSI remaining above neutral territory [1]. If current buying pressure persists, the next resistance level could be around $205, with $250 as a potential long-term target [1].

The contrast between the three projects highlights differing market strategies and outcomes. While SHIB struggles with weakening on-chain fundamentals and SOL benefits from institutional inflows, BlockDAG is demonstrating how large-scale participation and transparent execution can drive measurable results [1]. By combining a high-achieving presale with impactful community campaigns, BlockDAG is setting a standard for accountability and performance [1]. If this momentum continues, the project could serve as a model for other community-driven initiatives in the crypto space in 2025 [1].

Source: [1]title1 (url:https://coinmarketcap.com/community/articles/689fbcefb4904459a1de3c28/)