In the latest ARB Price Analysis, Arbitrum price is falling fast despite the recent activation of Dencun. Investors are now considering Wiener AI presale as an alternative investment – read on to find out why.
Analysts said Ethereum developers implemented a crucial upgrade in March, one of the most important since the Merge.
With the activation of Dencun, something happened to gas fees when transacting on layer-2 solutions: It drastically fell, sometimes by over 10X.
Among the biggest beneficiaries was Arbitrum, the largest layer-2 platform on Ethereum by TVL.
According to L2Beat, a portal tracking activity on all layer-2 platforms on Ethereum, Arbitrum has a TVL of over $15 billion. Analysts say the number will only increase.
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Since it is cheaper to transact on Arbitrum, it is no surprise that activity has been surging.
To illustrate, the daily number of active addresses is nearly 3X from early May, standing at over 972,000.
This spike could also explain the uptick in the number of on-chain transactions, especially after Dencun.
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ARB Price Analysis: Dencun Didn’t Save Arbitrum Price
However, despite the introduction of Dencun, there is a problem: ARB prices have steadily declined.
ARB is changing hands at $0.94 at press time, down roughly 60% from March 2024 highs.
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It seems like sellers are not done. Based on the daily chart’s formation, prices are banding along the lower BB, signaling increasing selling momentum.
At the same time, ARB prices are inside a bear breakout formation of mid-April 2024. Unless a strong recovery is above $1.30, sellers will remain in charge, fast-tracking the sell-off to Q4 2023 lows of $0.75.
Falling ETH prices are making the ARB drawdown worse. The second most valuable coin is down over 25% from all-time highs, failing to crack $3,000 recently. If ETH drops below $2,800, ARB could have more losses in the coming days.
The continuous unlocking of ARB does not help the situation.
TokenUnlocks data shows that on May 16, another 92.65 million ARB worth $90.86 million at spot rates will be unlocked. In April 16, over $106.54 million of ARB was unlocked.
Will Wiener AI Save The Boat? WAI Can Surge 50X After Launching
While ARB price dumps, investors are turning to Wiener AI, a new meme coin with a twist.
Within a few weeks after launching its presale, the project has raised over $1.8 million from the community. This interest is perhaps because WAI, the native token, has proven beyond doubt that it is a utility.
WienerAI combines the fun of meme coins with the positive innovation of artificial intelligence.
Enthusiasts are drawn to the project’s engaging backstory, which involves a scientist, a dog, and an AI robot, all brought together by a sausage.
While this combination is fun, WAI holders can stake and earn an 800% APY. At the same time, the platform offers AI-powered trading tools and zero-fee token swaps.
To cater to the security needs of its token holders, Weiner AI has been thoroughly audited by Coinsult, a trusted blockchain security firm.
Considering what WienerAI offers and the huge interest it has garnered less than three weeks after launching its presale, it appears that ARB holders are considering adding WAI to their diversified portfolios.
Analysts predict WAI, a token trading for just $0.000707 at the momentum, will surge 50X. At this pace, it will likely outperform PEPE, Dogecoin, and even BOME in the coming months.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
