Hedera (HBAR), Sui (SUI) Experiencing a Downtrend Ahead of Token Unlock While Pomerdoge (POMD) Continues Surge
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The crypto market is highly volatile, with the bear and bull markets experienced constantly. Hedera (HBAR) and Sui (SUI) have been in the bear market for some time with investors searching for alternative projects with high ROI. Meanwhile, more investors are joining the Pomerdoge (POMD) project to benefit from the projected future price increase.
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Hedera (HBAR) price has been declining over the past week as the scheduled token unlock draws closer. Hedera will conduct a token-unlocking event by September 1st, where 1.5 billion HBAR tokens will be released into circulation. The next token unlock will represent an addition of 3.48% of HBAR tokens which will be added to the current ones in circulation.
Meanwhile, Hedera has been experiencing a downtrend in the past few days. The token price has dropped by 13% in the last 7 days. The trading activity is also down as more investors search for alternative projects that guarantee profits.
Meanwhile, crypto analysts are optimistic of a resurgence soon. The token has battled to break the $0.060 resistance level, which, if it happens, could lead to a rally soon. According to Bitnation, a crypto forecast platform, Hedera will trade at an average price of $0.08 before the end of the year. These suggest that there is a possibility of a resurgence soon, which could lead to a rally.
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