New projects keep popping up in crypto, but finding the right one at an undervalued price over time is challenging. Lately, Dogecoin (DOGE) whales have shifted their focus to DTX Exchange (DTX), a new player in the market.
DTX is set to launch a decentralized trading platform with an upgraded version of traditional exchange available in the market. With its potential to become a blue-chip cryptocurrency, it’s no surprise that investors are heavily backing its presale.
The reason for the Dogecoin (DOGE) whale shift in DTX Exchange (DTX) is the poor performance of the whole sector. Major memecoins, including Dogecoin and Shiba Inu (SHIB), have dropped significantly. Losses in memecoins have increased and forced more and more investors to shift into better opportunities.
Dogecoin (DOGE) Retests Trendline Breakout While Trader Shifting To Better Opportunities
Dogecoin (DOGE) recently dropped to $0.10 and is now trading at $0.1088, marking a 12% decline in the last seven days. Despite the dip, Dogecoin (DOGE) remains the 8th largest cryptocurrency, with a market cap of $15.9 billion. Its 24-hour trading volume of $790 million shows that Dogecoin still has a strong and active community. What started as a playful meme has evolved into a widely recognized cryptocurrency, sparking curiosity about its next moves.
Crypto analysts expect Dogecoin (DOGE) to continue losing value into 2024, possibly retesting the $0.08 level. As a result, many holders are exploring other opportunities with projects like DTX Exchange.
DTX Exchange (DTX) On the Radar as Top Investment Opportunity in 2024
DTX Exchange is making waves by building the first Web3-enabled trading platform. Its goal is to combine the best features of traditional giants like Binance and Robinhood with blockchain-inspired functionality. DTX Exchange will offer various assets with crypto-native perks, such as lower fees, faster transactions, and no KYC requirements, giving users greater freedom to trade without intermediaries.
DTX Exchange has attracted attention, especially for its VulcanX blockchain, which boasts a transaction speed of 10,000 TPS and competes with platforms like Injective and Fantom. The exchange has also secured partnerships with top crypto players and passed security audits from the well-known firm SolidProof.
DTX Exchange developed a user-friendly interface for easy trading regardless of the level of the trader. The user gets access to cryptocurrencies and traditional assets such as stocks and forex with a maximum leverage of 1000x. There is a feature on the platform that operates a book for orders on the chain and it is the same mechanism that the centralized exchanges such as Binance use as well. This setup offers better liquidity than the automated market makers (AMMs) common in decentralized exchanges while providing more transparency since all transactions are recorded on the blockchain.
With over $3.7 million raised in presale, experts hail DTX as a top pick. The third round of the ICO prices each token at $0.06, which analysts consider “ridiculously undervalued.” With significant growth potential, a 250x increase in value is expected post-launch, making DTX a strong contender for investment.
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