Meme coins have been experiencing extended sell-offs in highly volatile market condition. After a tremendous parabolic rally in the past month, Dogecoin (DOGE) has been consolidating for the past 43 days. Traders are waiting for a bullish breakout of the declining wedge pattern for the next leg in DOGE. Meanwhile, Shiba Inu (SHIB) has crashed below May’s low, and analysts expect it to enter a long-term downtrend.
Shifting investor interest, DTX Exchange (DTX) has achieved another milestone, surpassing the $10.55 million mark in the token presale. In the sixth stage, 93% of the total supply is sold at $0.12. DTX Exchange aims to disrupt the industry with its advanced features and technical edge.
Dogecoin (DOGE) Traders Await Bullish Rally
Dogecoin’s price has rebounded nearly 30% from last Friday’s low and is now consolidating in the decreasing wedge pattern. The wedge pattern is an important formation, as its breakout could propel the Dogecoin price to the much-awaited target of $1. The pattern has an upper resistance at $0.35, while the lower support region is at the psychological level of $0.30.
This volatility in Dogecoin results from the broader market correction after the US Fed interest rate announcement. In the last 30 days, Dogecoin has decreased by 20%, while it is down 10% on the weekly charts. At press time, the DOGE price is trading at $0.325, with a 24-hour volume of $2.54 billion.
Recently, Dogecoin whales bought an impressive 270 million DOGE. This purchase, worth around $89.64 million, has sparked speculation about possible market shifts.
Shiba Inu (SHIB) Faces Rejection At 10-EMA
Shiba Inu (SHIB) price tried to recover its loss after bouncing off the $0.000021 support level; however, bears have again taken control, rejecting it from the 10-day exponential moving average. Shiba Inu (SHIB) formed a fresh base at the start of the week, but the gains faded immediately due to the high volatility.
The Shiba Inu (SHIB) Relative Strength Index (RSI) is trading above the oversold zone at 40, but further, selling can push it to the index’s low band. According to Coinglass data, the SHIB open interest is once again declining, currently below $55 million.
On the upside, Shiba Inu (SHIB) has many hurdles near the $0.000025 resistance level. A successful close above this resistance level could set the pace for another steady increase. However, this will require support from Shiba Inu (SHIB) investors and overall market improvements.
DTX Presale Zooms Past $10.50 Million
DTX Exchange (DTX) has made headlines in the cryptocurrency market with its remarkable features and establishing itself as a significant force in the blockchain ecosystem. Its flagship feature is multi-asset trading, where users can create diversified portfolios with stocks, crypto, and ETFs without needing large capital. With this hybrid protocol, DTX Exchange is positioned to disrupt multiple markets, from real estate to digital assets.
Another important development is a 1,000x increased buying capacity that allows unparalleled liquidity, increasing traders’ profit potential. The platform also features state-of-the-art options like Phoenix Wallet, distributed liquidity pools, and advanced trading tools like Copy and algorithmic trading.
The mission of the project is to implement a trading environment that will provide a solution to the main issues inherent in traditional finance. The popularity of the DTX presale is well evidenced by the rapid sellouts at every stage of the presale (so far, it has sold 120M tokens and has over 700,000 registered users).
Adding to its momentum, the platform is listed on CoinMarketCap, increasing its visibility among millions of monthly users. The tremendous success in presale shows investor confidence and potential in the project. Join now!
Find out more information about DTX Exchange (DTX) by visiting the links below:
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