Binance (BNB) and Dogecoin (DOGE) Succumb To Selling Pressure While Pomerdoge (POMD) Makes Market Bulls Run
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Pomerdoge is a new project that has shown immense growth in its initial weeks. Experts believe it to grow by 4,000% by the end of this year.
On the other hand, projects like Binance (BNB) and Dogecoin (DOGE) have failed to see an uptick in their value.
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Amid the increasing regulatory pressure, Binance (BNB) has decided to end P2P (peer-to-peer) payments support for five sanctioned Russian banks. Binance (BNB) has taken this decision after facing severe criticism for its indifference towards the international sanctions against Russia.
For the past many months, Binance (BNB) has been trapped in troubled waters. The SEC’s lawsuit against Binance has caused a severe erosion in the market capitalization of BNB. The market capitalization of the fourth-largest cryptocurrency, Binance (BNB), has dropped by $15 billion over the last two months.
Meanwhile, the market value of Binance (BNB) has dipped 11% on the weekly chart. Thus, Binance’s (BNB) current trading price has come down to $217.50.
Barring X’s CEO, Elon Musk, nothing seems to be favoring Dogecoin (DOGE) at present. As per the latest data from Santiment, the supply of Dogecoin (DOGE) on exchanges has increased in recent weeks. This indicates that investors are willing to shed their Dogecoin tokens, as they fear DOGE can slide further.
In the last month, Dogecoin’s (DOGE) market value has plummeted by around 19%. Therefore, Dogecoin’s (DOGE) trading price has fallen to $0.0629. Moreover, LunarCrush’s data has shown that bearish sentiments around Dogecoin (DOGE) have increased by around 10% in the past
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