Memecoins are witnessing a price retracement amid a turbulent market. Among the lead decliners is the Dogecoin (DOGE), facing significant sell-offs amid price drops. For over a month, Dogecoin price has failed to come up with investor expectations, and further consolidation is expected in this cycle.
Dogecoin Price Declines 33% Amid Fading Hype
Dogecoin (DOGE) has witnessed massive declines in the past few weeks. DOGE’s price has failed to recover after the market crash in April with a continuous price decline. Dogecoin’s price is down by 37.7% on the monthly timeframe and 18% on the weekly chart. These trendlines are raising speculations for a potential price crash for the memecoin.
Despite some recent transactions, analysts are speculative about Dogecoin’s price trajectory. Analysts anticipate a further decline to the $0.11 support level if the current bearish trend persists. DOGE is in a consolidation phase, notably due to its lack of real-time utility and long-term viability for sustained growth and returns.
DOGE Whales Take Position in DTX Exchange’s $480,000 Presale
Amid a declining market cap of 6%, DOGE whales are dumping their tokens fueling a further decline in Dogecoin price. Due to these speculative tendencies for the meme coin, whales are taking positions in DTX Exchange, a project poised to become a leading figure in the deFi space.
The project has successfully raised $480,000 in stage 2 of the presale, witnessing a massive influx of institutional investors and DOGE whales. With an expanding holder base, the DTX token is expected to skyrocket beyond $1 from the current price point of $0.04. The project offers unique trading insights and robust security features to help traders enjoy an accessible trading environment.
DTX Exchange Set to Become a Formidable Figure In The Trading Sector
DTX Exchange (DTX) is an emerging platform that provides traders with unprecedented growth opportunities and trading insights to secure higher positions in the financial market. Through the 1000x leverage feature of DTX, traders can buy digital assets with low capital and a high return ratio, leading them to a successful trading experience.
The platform is an all-in-one trading solution, offering access to 120k digital assets in diverse financial markets including cryptos, stocks, equities, forex, and contract-for-differences (CFDs). With such a diverse range of trading opportunities, users have the complete choice to trade freely in any compatible market with DTX-powered analysis features.
The integration of features like non-custodial wallets, liquidity pools, multi-tier accounts, and no KYC requirements enhances the user experience and security features. Through blockchain capabilities, DTX offers robust trading with fast transactions and low cost.
Market insiders indicate that DTX’s relevancy will grow as more features are added, making it an unbeatable exchange in the deFi space.
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