Binance celebrated its 25th quarterly burn where it burnt 2.14 million BNB tokens. Investors are sceptical that this could affect BNBs price. Dogecoin's price is still on the decline as the DOGE community hopes for Elon Musks X platform to adopt the meme coin. Meanwhile, a new crypto project, Everlodge, has caught the attention of analysts in the past few weeks.
The BNB price is showing signals of a potential rally on the weekly chart.
Development on the Dogecoin network dropped significantly.
Analysts have forecasted a price surge of 280% for Everlodge.
Everlodge (ELDG) Forays Into the Vacation Rental Market
According to research, the global tourism sector has become a booming market since the Covid-19 pandemic. Statistical data shows that the number of hotels and resorts worldwide is over 700,000. However, only a few people have enough money to invest in such properties.
Fortunately, Everlodge is here to level the playing field for every investor. Everlodge is an upcoming Web3 platform designed to solve challenges in real estate. People will be able to buy and sell real estate properties cheaply by using the fractionalization of Non-Fungible Tokens (NFTs).
NFT fractionalization entails dividing a full NFT representing a real estate property into fractions that people can buy with as little as $100. These NFTs have real value and can be used as collateral for loans. In the meantime, Everlodge is in the fifth presale stage.
Its ELDG token is up for grabs at just $0.02. Those who buy the Everlodge token will enjoy passive income, discounts, governance rights, and a chance to win a free vacation to the Maldives. Analysts have forecasted that ELDG's value will go up by 280% by December.
What is Next for BNB (BNB) Price After Token Burns?
Binance Coin (BNB) is making waves in the cryptocurrency sector as it burns 2.14 million BNB tokens. This burn strategy is part of the platform's strategy to reduce the supply of BNB and increase its price. Following the burn, the price of BNB rose by 3%, to touch $213.
In addition, the token has managed to maintain a 3.3% gain on the weekly chart. Looking at the price chart, the BNB coin is currently bouncing between $205.23 and $222.43. Firstly, there is an initial support level of $195.97, which acts like a safety net. Additionally, there is a stronger support at $178.77.
Also, network activity on the BNB Chain has been on the rise. The network recently released the Greenfield mainnet. The aim of this storage network is to transform Web3 data usage and ownership. Crypto analysts remain bullish on the BNB coin and predict a price pump to $230 in the coming weeks.
What is Happening To Dogecoin (DOGE)?
Dogecoin (DOGE), the famous meme coin has been stuck in a tight trading range in the past few months. Dogecoin's price has struggled to go above $0.06 for the last two months. This lack of progress comes at a time of uncertainty in the wider cryptocurrency market.
Additionally, Dogecoin's daily transaction volume has dropped, showing a lack of user interest in the coin. The price of Dogecoin has fallen from $0.06011 on October 16th to $0.058986 on October 18th.
Also, development on the Dogecoin network has plunged in the past months. Nevertheless, crypto analysts are still bullish on the price of Dogecoin given its latest listing on BitTrade. They have forecasted Dogecoin's price to rise to $0.0723 when market condition improves.
Find out more about the Everlodge (ELDG) Presale:
Everlodge Media Team
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Micro Trustiva journalist was involved in the writing and production of this article.