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Following a flash crash that caused losses in the crypto market, the meme coin sector experienced significant consequences. The second-biggest meme coin, SHIB, experienced significant liquidation, as the Shiba Inu price dropped nearly 38% during the crash. Savvy investors are questioning their meme holding and are shifting to utility-driven coins.
Shifting from hype-based cryptos, investors are venturing into projects with real-world applications that can offer alternative growth. This season, the unique hybrid project, DTX Exchange, has attracted millions of investors due to strong demand and unprecedented growth projections. Analyzing the solid fundamentals of the coin, experts project a 50x growth after the token listing.
Trump’s Tariffs Trigger Shiba Inu Price Drop
The recent market crash was attributed to Donald Trump's recent tariffs on countries like China, Canada, and Mexico. This caused havoc in the crypto market, causing the Shiba Inu price to drop below the $0.000012 support level. However, in the second half of Monday, buyers came in, driving the price above the $0.000016 mark.
The bearish trend in the Shiba Inu price began in mid-January when it could not sustain support above the resistance level of $0.000025. Afterward, it broke the ascending trendline support and fell below the crucial $0.000020, setting off a series of technical selling signals. If the Shiba Inu price fails to sustain the $0.000015 support level, the downside target could be $0.00001.
Courtesy: TradingView
The Shiba Inu price has dropped 15.73% in the last seven days. The lower high and lower low formation, which started on January 18th, is still intact. This pattern confirms the bear trend in the Shiba Inu price, and eliminating this trend will pave the way for a reversal.
The technical charts show that the Shiba Inu price has formed a bullish wick on the lower side after the rejection from the $0.00001190 level. If the current level doesn’t hold, the further decline could mean weeks of sideways movement for SHIB before reversal.
DTX Exchange: The Future of Crypto Trading
DTX Exchange (DTX) is an upcoming hybrid trading platform that has stirred the cryptocurrency market by challenging market giants like Shiba Inu. Through its innovative hybrid approach, the platform combines the best of centralized and decentralized exchanges into a single platform.
The platform's major highlight is its cutting-edge multi-asset trading feature, which allows users to access 120,000 assets, including crypto, stocks, forex, bonds, and ETFs, on its unified platform, eliminating the hassle of switching different platforms to manage different asset classes.
The platform runs on VulcanX, a layer-1 blockchain technology. The blockchain's testnet recently went live on the platform, giving it an estimated TPS of over 200,000. This ultra-high speed allows traders to capitalize on swift market swings in different markets and conditions. Additionally, DTX Exchange offers an incredible 1,000x leverage, which means a trader can access liquidity of up to $100,000 with just $100 in capital.
Currently, in the presale, DTX Exchange has completed the previous round successfully and has entered the last round of the previous round. To date, it has raised over $13.4 million in funding, breaking previous presale records by achieving the mark in just a few months of presale launch.
Currently, each DTX token is priced at $0.16. The company is preparing for a tier-1 listing in the second quarter of this year.
With unique market positioning and an upcoming token launch, DTX Exchange (DTX) is capturing the attention of retail and large players. Keep an eye on this project and make sure to analyze before any investments.
Find out more information about DTX Exchange (DTX) by visiting the links below:
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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