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DTX Exchange (DTX) has been gaining traction ever since its launch. The platform has been all the buzz in the DeFi sector with its innovative features making it an undefeatable force. DTX’s recent Phoenix Wallet launch has grabbed massive attention for the platform.
While DTX is set to rule the DeFi sector, established players like Dogecoin (DOGE) and Shiba Inu (SHIB) are seen plummeting in the current session. Analysts are placing bets on DTX Exchange claiming it will show explosive growth.
Dogecoin (DOGE) Loses $150 Million: Bears Pull The Price Down!
A substantial $150 million withdrawal of Dogecoin (DOGE) from exchanges revealed a decreased supply on these platforms. A decrease in sell pressure may result from this type of outflow, which is frequently a good indication that holders are removing their assets from exchanges, possibly for long-term storage.
This configuration may result in a volatility squeeze, in which prices stabilize before suddenly spiking. The most recent price chart indicates that Dogecoin (DOGE) has demonstrated strong momentum, rising to recent highs and then slightly declining. Despite the recent decline, Dogecoin (DOGE) is now trending down by exhibiting a slump of over 6%, currently trading at about $0.1869.
The $0.20 level presents the asset with immediate resistance; if it is broken, this could lead to additional gains. However, Dogecoin (DOGE) might retest support levels around $0.15 and $0.12 if it cannot overcome this resistance.
Along with a noteworthy volume of 27.7 billion Dogecoin (DOGE), the transaction data also reveals a considerable number of large transactions over the last 24 hours, totaling 4.15K transactions.
Shiba Inu (SHIB): Extended Consolidated Price Action
Shiba Inu (SHIB) is currently trading at $0.00001856 after a 1.58% intraday plunge. The daily trading volume for Shiba Inu (SHIB) has surged by over 41% in the last 24 hours. The price decrease accompanied by a massive dip in the trading volume shows investors’ shaking confidence in the meme coin.
The MACD indicator is dropping and is very close to the zero line, indicating increasing bullish momentum for Shiba Inu (SHIB). Yesterday, Shiba Inu (SHIB) dropped below the 50-day Simple Moving Average (SMA). Shiba Inu (SHIB) is trading below the short-term 10-day and 20-day SMAs.
The meme coin has been consolidating for over a month, trading between the $0.00001935 resistance and $0.00001602 support levels. The Shiba Inu (SHIB) price has dropped over 10% in the last five trading sessions. Shiba Inu (SHIB) faces uncertainty and has also formed a doji in the daily chart. It is now seen jumping back to its previous value.
DTX Exchange (DTX) Ready for Another Potential Surge!
The recent performance of DTX Exchange (DTX) has been terrific, rising by more than 300%. The project has raised over $6.8 million in funding. Analysts predict the price of the DTX coin could soar by 5x from its current price of $0.08. DTX Exchange is revolutionizing the trading market by offering the best combination of CEX and DEX while providing users with the most efficient trading platform on the market.
Additionally, DTX’s architecture supports fast transactions characteristic of CEXs, but still incorporates essential features of DEXs like decentralization, creating a secure and user-oriented platform. DTX is also different from traditional exchange in that there is no need for the Know Your Customer (KYC) process to verify users’ identities, enabling people to trade anonymously.
Combining CEX efficiency with DEX autonomy, DTX Exchange provides an opportunity to trade forex, stocks, cryptocurrencies, ETFs, and other financial instruments. This feature makes it possible to trade various markets within a single interface.
In a world where users want it all – convenience and control – DTX Exchange’s hybrid model could be the game-changer that investors need to enjoy a secure and fully integrated trading experience. The platform is expected to soar following the Play Store launch.
Key Takeaways
DTX Exchange rules the market with a $6.8 million presale raise and CMC listing. Analysts anticipate it to secure a massive chunk of the $2.2 Trillion industry soon outperforming established players like Dogecoin (DOGE) and Shiba Inu (SHIB).
Learn more:
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