October is promising to be a bullish month for the cryptocurrency market, with various analysts expecting dramatic changes in the prices of some major players. Both Cardano (ADA) and Shiba Inu (SHIB) are expected to move up in value.
ADA is expected to rise above $1, and SHIB will rise to $0.00002. On the other hand, the DTX Exchange is expected to increase by 200%, giving investors more profit. The project is in the second phase of its presale and has raised $2.7 million.
Cardano (ADA) To Reach $1 By October
In an X post, Dan Gambardello, a top analyst, pointed out that Cardano (ADA) is on the brink of a green October and that ADA will soon recapture $1. From the chart, the crypto analyst pointed out that Cardano coin has a support area at the $0.21 and $0.24 price area, and a test of the area would propel the prices up. In the meantime, Cardano crypto has been on an uptrend climbing as high as $0.3924 on the monthly timeframe.
Its market cap was consolidating between $11 billion and $14 billion during this period. Analysts say the value of the Cardano token could pump higher. It is currently trading between the 50-SMA ($0.349039) and 200-SMA ($0.462728), a sign that bulls have work to do. The coin’s technical indicators are bullish. The 14-day RSI is above the 60 mark, and the VWMA (10) and Hull Moving Average (9) are displaying buy signals.
Shiba Inu (SHIB) Transactions Spike
Based on data from IntoTheBlock, large Shiba Inu (SHIB) transactions soared to $20.57 million, an increase of 171%. Interestingly, 61 of such transactions (above $100,000 or more) were recorded during the period. Over 1.25 trillion SHIB was swapped by the whales in a single day. Currently, the Shiba Inu price is trading above the 50-SMA at $0.00001394, thanks to the positive sentiment in the market.
The memecoin has recorded 15 green days in the last 30 days, a sign that bulls and bears are in a struggle. During this period, the market cap of Shiba Inu crypto consolidated between $7 billion and $9 billion. Going forward, the sentiment around the cryptocurrency is bullish. Analysts forecast the price of the Shiba Inu coin could pump to $0.00002 in October. However, it must cross the resistance at the 200-SMA ($0.00001860).
DTX Exchange (DTX) Taps Into Billion Dollar Online Trading Sector
According to ISDA’s data, the size of the global over-the-counter (OTC) derivatives market was $714.7 trillion at the end of June 2023. DTX Exchange (DTX) is a relatively new entrant in this field which plans to capitalize on the growth of this sector. Unlike traditional centralized crypto exchanges, users will not be restricted only to digital assets when using the new DTX Exchange. They will be able to trade different asset classes from traditional finance to Web3.
DTX exchange has more than 120,000 assets (gold, crypto, stocks, indices, bonds). The exchange will also incorporate the positive features of centralized and decentralized exchanges to form a hybrid trading platform. Also, this hybrid platform will tackle some of the most pressing issues in the trading market. The platform will also provide advanced trading tools and AI technology, which traders can use to increase their chances of making more profit.
DTX Exchange users can also use the 1000x leverage to make huge profits on small capital. Because of its unique use case, the cryptocurrency ICO of the DTX Exchange has been growing rapidly, raising over $2.8 million in the last couple of months. DTX is currently in the third phase of its presale and is valued at $0.06. Analysts say the value of the DeFi crypto could pump by 200% in October.
What To Expect from Cardano, Shiba Inu, and DTX in October
If the predictions given above are accurate, we may experience a change in the crypto industry in the month of October. Since Cardano (ADA) is still on the lookout for better values, Shiba Inu (SHIB) is booming, and DTX Exchange is enjoying growth, investors should watch out for these altcoins as their prices could skyrocket.
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