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Despite the ridiculous amount of hype that surrounded Solana (SOL) after Trump’s crypto reserve announcement, it is surprising that on-chain activities on Solana have not recovered. A few metrics, including its trading volume and active addresses, have revealed that Solana’s on-chain activities have been tanking for a while. There have also been speculations that its performance over the past month has been pushing investors to other high-potential altcoins in search of bullish alternatives.
While Solana’s performance can come as a shock, the rising hype surrounding DuragDoge ($DURAG) isn’t surprising. Everything about the project teases its appeal as one of the best crypto coins to buy if you plan on making explosive profìts this year. Its ongoing presale also has the potential to turn early investors into millionaires, giving them something to be excited about.
Solana (SOL) Suffers Decline In On-chain Performance
To break down what has been happening with Solana’s on-chain lately, we’ll have to look at the performance of a few things that make it so relevant in today’s crypto system. Firstly, the crash of Solana’s active addresses from 76 million in January to around 45 million, which is over 40% decline. Then, the daily active addresses are at just 3.4 million, which is the lowest it has gotten in over three months.
The volume of on-chain transactions is still tanking even after last month’s massive decline of over 28%, which amounts to a loss of over $31 billion. This means that users are not as active on the platform now compared to last year. Even things like liquid staking, DEXs, and NFTs have been slowing down lately, and this is why network fees have dropped.
There’s also a possibility that the recent crash of the meme coin market affected Solana. Last month, monthly trading volume for meme coins fell by almost $106 billion. Then, there’s the noticeable lack of interest from traders who are leveraged. On the futures market, the rate of funding for SOL perpetuals is still negative, meaning traders who are shorting SOL are ready to pay to keep their positions open.
DuragDoge ($DURAG) Hype Skyrockets Thanks To Massive Potential Of Presale
There are a few things that come to mind when DuragDoge is mentioned. The platform is evolving from just another new meme coin to a highly anticipated platform with the potential to outperform high-potential altcoins. The reason for the recent hype surrounding it is because of how well the platform has performed, even though it’s still in the early stages of its presale.
In just the fìrst stage of the event, DuragDoge has been able to pull in high-end investors, and they can’t seem to stop talking about it. Aside from being the talk of the town, the $DURAG token is also set to deliver impressive profìts as the presale tokens move from one stage to the next. Now, the token is selling for just $0.00009, but it’s on track to deliver over 1,000% returns by the time it launches on exchanges for $0.010.
While the presale is a huge part of why DuragDoge has so much hype, the structure of the platform also contributes a lot to it. DuragDoge has included plans to carry out buybacks and burns, which will help to keep the supply of the token in check while driving the value of the token. With all these in place, expectations for $DURAG to 10x after listing isn’t impossible, making it one of the best crypto coins to buy this year.
Conclusion
If there’s anything the market has taught us, it’s that hype fades fast if there’s no real momentum to back it up. The way Solana’s on-chain activity is performing is proof that price action alone can’t keep investors interested forever. Now that investors are pumping funds into $DURAG before its price jumps, it’s clear that DuragDoge is one of the best investment plays this year.
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