Bitcoin News Today: BlockDAG Auction Rivals Draw $365M as Toncoin Climbs 3.15% and SHIB Bounces From Key Support

Large investors are intensifying their participation in the BlockDAG (BDAG) 10 BTC auction, which offers a $1.14 million Bitcoin pool as a draw for early buyers. The auction has raised $365 million, with 24.7 billion BDAG tokens sold to date. The platform has launched a live trading dashboard, demonstrating real-time functionality ahead of the official launch. Early entry costs are currently at $0.0016, with the token projected to debut at $0.05, potentially offering a 3,025% return to early participants. With the auction set to close on August 11, the urgency is palpable as investors seek to secure their share of both the token and the Bitcoin prize [1].

Meanwhile, Toncoin (TON) has shown strong upward momentum following a breakout above the $3.67 resistance level, signaling a shift from a prolonged sideways trend. The price has surged by 3.15% weekly, supported by rising trade volumes and an RSI at 97.02, indicating buyer control but nearing overbought territory. Analysts are now eyeing higher targets at $4.21, $4.84, and ultimately $5.37. The previous $3.52–$3.67 range has transformed into a key support zone, further reinforcing the likelihood of continued price appreciation [1].

Shiba Inu (SHIB), on the other hand, is experiencing a cautious recovery after falling back from $0.00001800 to trade near $0.00001280. The token has found some support in the $0.00001200–$0.00001230 range, showing signs of a potential rebound. However, a critical resistance level at $0.00001350—previously a support—now stands as a significant hurdle. If bulls fail to break past this level, SHIB could face another pullback toward the $0.00001200 zone or lower. A successful breakout would be a key indicator of renewed bullish sentiment, but hesitation at current levels suggests buyers remain cautious [1].

The growing interest in BlockDAG is being driven not only by the auction’s high stakes but also by its substantial presale performance. With over 2.5 million mobile miners and 19,000 sold mining rigs, the project has demonstrated strong grassroots adoption. The early market’s confidence is further reflected in the rapid token price trajectory, which, if sustained, could position BDAG as a leading player in the 2025 cryptocurrency landscape. This momentum, combined with the tangible utility demonstrated by the live trading dashboard, differentiates BlockDAG from speculative projects [1].

Toncoin’s recent price action and on-chain data suggest a structural shift in market sentiment. The breakout above $3.67 has transformed this level into a psychological support, increasing the likelihood of a continued upward trajectory. However, as the RSI approaches overbought conditions, traders are advised to remain cautious. The path to $5.37 remains ambitious but achievable, contingent on continued buying pressure and positive macroeconomic developments in the broader crypto market [1].

For Shiba Inu, the key to a sustained recovery lies in overcoming the $0.00001350 resistance level. This level, which has reversed from a former support, represents a critical inflection point for the asset. A breakout here would likely trigger a broader rally, while a failure to push through could result in renewed downward pressure. The current price action reflects the tug-of-war between bullish and bearish forces, with the outcome of the next few trading sessions likely to determine the near-term direction for SHIB [1].

As the crypto market continues to evolve, the interplay between high-stakes token airdrops, presale momentum, and traditional on-chain metrics is shaping investor behavior. BlockDAG’s unique auction model, combined with its tangible development progress, has positioned it as a standout in a crowded market. Toncoin’s price resilience and SHIB’s cautious rebound highlight the varied performance across the top altcoins. Collectively, these movements underscore the dynamic nature of the cryptocurrency space and the growing influence of structured incentives in driving adoption and price discovery [1].

Source: [1] Whales Chase BlockDAG’s 10 BTC Jackpot While Toncoin Climbs and SHIB Battles Resistance (https://coinmarketcap.com/community/articles/68969eb13e7f0939817a8585/)