Memecoins has made a lot of money for its early investors. The second biggest memecoin, Shiba Inu (SHIB), has made a lot of money for its investors. Now, the investment recommendation has been made for Dogwifhat (WIF) and Dogecoin (DOGE) for the upcoming rally.
DTX Exchange Crypto (DTX) is another coin, memecoin investors are betting on because of its utility and high growth potential. DTX is the first exchange carrying the features of both centralized and decentralized exchanges. It also seems prepared to take over the industry.
Shiba Inu (SHIB) Rejects The Downside
Shiba Inu has been trading around the $0.000013 support level for more than four weeks. On Wednesday, the price penetrated the support level and bounced back after touching the low of $0.0000124. It made a hammer rejection on the downside. Despite the rejection on the downside, the SHIB price has been able to break out of the range.
Still, the SHIB price is trading below the 50-day exponential moving average. The price has already been rejected from that level more than once. Going forward, this will be a major hurdle for the SHIB. The future outlook for Shiba Inu (SHIB) is bearish in the short term. We may see a recovery in the medium term.
Dogecoin (DOGE) Near The Breakout Trendline
The memecoin king has not been an exception from the market correction. With the whole crypto market, Dogecoin (DOGE) has been facing a downtrend for months. It is trading in a descending channel and is currently standing at the upper resistance of the channel. The nearest resistance level for Dogecoin (DOGE) is $0.102.
The relative strength index of DOGE is currently at 42.33, showing a mild bearishness in the price. For the trend change, Dogecoin has stabilized itself above the $0.12 level. However, some major trend changes in the coin with support of the overall market are needed to do so.
DTX Exchange (DTX) Analysis: Huge Growth Ahead
A well-known trader from the memecoin community has made a bold prediction. The trader stated that while exciting price movements and developments are happening, their long-term growth may not match the potential of the DTX Exchange.
This new platform stands out by combining the best features of both decentralized and centralized exchanges. Users can trade assets, including stocks, crypto, and gold, with leverage rates up to 1000x. Plus, DTX Exchange doesn’t require sign-up KYC checks, allowing for long-term anonymity.
DTX Exchange Crypto aims to redefine online trading. Valued at $10.15 billion in 2024, it’s expected to grow to $16.71 billion by 2032. The platform’s native coin, DTX, is used to pay trading fees, access priority customer support, and unlock loyalty rewards. DTX Exchange offers a $1 million giveaway to ten lucky buyers as part of its promotion. They will have to purchase $100 worth of DTX during its presale.
The project has already raised $2 million in a private seed round and exceeded market expectations by raising $2.5 million in stage 3 of the presale, with over 35% of tokens sold. Currently priced at $0.06, the DTX token is expected to surpass $2 once it hits the main market at the end of 2024.
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