Since November 2021, the cryptocurrency market has been experiencing a decline – the crypto winter. Although the declines have eased, many analysts have forecasted an extension of the winter. In this extension, how will two top projects, Dogecoin and BNB perform?
Meanwhile, Everlodge continues to defy the bearish trend, rallying to $0.020.
Dogecoin Team Issues Warning To Community Members
The official Dogecointeam has issued a warning to its community members. The post shared by its official X account reminds users, “Not your keys, not your coins.” The Dogecoin team also reminded its community they are now in the extended crypto winter.
Since November 2021, the price of Dogecoin has dropped from $0.030 to $0.0583 in October 2023. Despite its extending declines, crypto analysts still remain bullish about DOGE. The continual support from Elon Musk is one reason analysts remain bullish.
Musk’s X Everything platform is looking to add a payment network soon. Some analysts have proposed that DOGE could be integrated, leading to a potential rally.
BNB Price Approaches Key $200 Level
Another crypto that has struggled in the extended winter is BNB or Binance coin. Since the BNB coin peaked at $686 in 2021, its price has been on a decline. Since then, the altcoin has dropped to $205 in October, approaching the key $200 support level.
Another reason for the decline of the BNB price is the regulatory challenges faced by Binance, its parent exchange. Binance is currently in a lawsuit against the United States SEC. As a result, bearish pressure has been mounting on the BNB coin.
For BNB, $200 is a key level as it could determine the short-term direction of the coin. A break below this level could see the altcoin drop by 10% to $180. However, if it manages to hold this level, then the price of BNB could increase in the coming days.
Everlodge Defies Bearish Trend, Rallies To $0.020
Unlike the rest of the crypto market, Everlodge has been bullish, rallying to $0.020 in October. This represents a 100% price increase in the last two months. The project has been bullish because of its unique use case, which has been attracting investors from the entire crypto space.
Everlodge is building a marketplace to provide investors with seamless fractional investment in vacation rentals. Combining blockchain, Web 3, and NFTs, Everlodge will eliminate the complexities associated with traditional real estate investment. As a result, there has been great interest in the project.
Everlodge will use NFT fractionalization to achieve this. The platform will mint NFTs to represent luxury properties. Then, these property-backed NFTs will be divided into shares representing portions of a property. Using this method, investors will be able to buy shares of vacation property from as low as $100.
This new innovative platform seeks to revolutionize the way people invest in vacation homes. As a result, some crypto analysts have rated it as a potential unicorn project.
Find out more about the Everlodge (ELDG) Presale:
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