DTX Exchange Labelled Best Presale at $0.12 as Shiba Resumes Bullish Momentum Along With DeFi Sensation
After the brief correction, the crypto market is forming a reversal with meme coins such as Shiba Inu attempting to rebound from support levels. Since the trendline breakout in August, Shiba Inu (SHIB) has gained 112%. After the recent volatility, it has gained momentum along with the emerging DeFi platform DTX Exchange (DTX).
DTX Exchanges demand has surged in the market reversal, showcasing users moving towards altcoins with real-world applications. Due to its solid fundamentals and backing from institutions, this DeFi trading platform is one of the biggest bets in this bull cycle.
Shiba Inu: 52-Weeks High Next Target?
Next to Dogecoin, Shiba Inu has ruled the memecoin space for a long time now. In this bull run, it has again experienced tremendous gains, pushing its market cap above $17 billion. When writing, the SHIB token trades at $0.0000028 rising over 200% in the YTD. These rapid increases highlight the volatility and popularity of meme coins.
On Tuesday, Shiba Inu found support from the 50-period moving average, forming a double-bottom reversal pattern. With the breakout on Wednesday, SHIB is reaching the weekly high of $0.0000334, which is also a supply zone for the price. The action from this level will further dictate the direction.
The next target for Shiba Inu is the yearly high of $0.000045, which was formed in March. However, while SHIB is gaining momentum, the ecosystem remains underdeveloped, a critical factor for any crypto project. However, price momentum will likely continue breaking the near-target levels due to the bull market.
DTX Exchange: Dominant Player In DeFi
While meme coins like Shiba Inu are still trying to work on developments, utility-driven projects like DTX Exchange (DTX) are reshaping the trading industry. The DeFi projects have attracted whales and money fund houses with the collection of $10.19 million in the presale funding raised so far. From the launch, the DTX token price has risen 500%, currently priced at $0.12 in the sixth stage of the presale.
DTX Exchange is working to close the gap between traditional and digifi with its innovation in hybrid technology. Its proprietary VulcanX blockchain brings traditional assets like stocks, ETFs, and forex into its decentralized trading platform.
With its advanced trading infrastructure and risk management tools, DTX Exchange has become a preferred platform for traders. This trading platform provides 1,000x leverage to increase traders profitability, so users can make a large position with small funds. Over 872,000 traders have registered on the platform. DTX aims to reach global traders and provide them with the benefits of a large trading community.
Conclusion
Shiba Inu (SHIB) is known for its quick returns; however, the rallies associated with these meme coins are not ideal for long-term. In contrast, DTX Exchange (DTX) is a value-based token with the potential to follow a growth trajectory similar to that of Bitcoin and Ethereum over the long term.
Traders looking for a balanced portfolio could consider adding SHIB for short-term momentum trades. At the same time, DTX Exchange may be the best option for both momentum and long-term growth.
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Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
Text source: ZyCrypto
