Whales cause outflows in Dogecoin and Cardano rolls out node update. Meanwhile, presale rockstar DTX Exchange rakes in another $100,000 in a single day.
DOGE recently experienced a high volume exit transaction on the network, indicating a potential retraction in the memecoin sector. Meanwhile, Cardano (ADA) is preparing to roll out updates to the blockchain. However, the emerging deFi platform is beating crypto giants with its stunning pre-sale rally – recording a $6.34 million milestone amid a broader market shift.
Dogecoin (DOGE) loses $250 million in 24 hours
Dogecoin recently experienced a massive transfer in the network, involving approximately 1.45 billion DOGE altcoins (or $250 million) moving from an anonymous wallet to Robinhood. Typically, wallets transfer huge sums to exchanges for trading or sales. Thus, a transfer on Robinhood indicates a possible liquidation, especially when the transaction is of such size.
These huge transfers could cause Dogecoin to experience increased selling pressure on DOGE, especially if investors want to sell their holdings amid the current $250 million outflow. The effect of this release on the Dogecoin network could lead to increased volatility and a possible drop in prices if traders place such sell orders on the network.
DOGE’s price chart shows that it has been on an upward trajectory, peaking at around $0.17. However, given that the asset is currently overbought with the Relative Strength Index (RSI) 73, DOGE could face imminent corrections as traders decide to lock in profits. As of today, DOGE is trading at $0.16 with a market cap of $24.58 billion and a 24-hour trading volume of $1.91 billion.
Cardano Price Could Surge Over 2,000% to Hit the $6 Mark
Although Bitcoin surpassed $71,000, the Cardano the price is still hovering around the $0.34 mark, indicating a 12% loss from its highest value last month. ADA’s decimal performance has raised concerns among ADA holders who are speculating on the altcoin’s future prospects. However, analyst Ali Martinez recently made a bold price prediction for ADA.
He observed that Cardano price is replicating the pattern it established in 2020, reiterating that if history repeats itself, Cardano price will see an upward trend in early November. Furthermore, he added that if ADA manages to maintain this uptrend, it will reach a new all-time high by September 2025. Martinez based his argument on Cardano’s bull run in 2020, after which the altcoin showed a strong parabolic stroke.
Notably, ADA increased by 4,095% from $0.09 to its all-time high of $3.10. From this perspective, ADA has spent 455 days in the same range after a strong rally. While a breakout occurred earlier this year that pushed its value to $0.80, ADA faced a 65% restriction and returned to lower levels. Analysts believe that Cardano price could rally by November to peak at around $6.50.
Cardano Whale Adds $100,000 to DTX Exchange (DTX) Presale
DTX ExchangeThe meteoric growth of is attracting whales to the DeFi platform as its presale comes to an end. In just a few weeks, the presale has already crossed more than 50% of its total goal and there are only a few days left before we move on to the next stage. The platform has gained recognition among investors for its revolutionary L1 blockchain technology.
DTX Exchange (DTX) has made a name for itself in the market thanks to the hybrid model that brings together the best elements of centralized and decentralized exchanges. This allows traders to have a convenient and intuitive experience while retaining the security and privacy benefits of decentralization within the trading platform.
DTX Exchange (DTX) blocks Dogecoin with the launch of Phoenix Wallet
DTX ExchangeThe recent launch of the Phoenix wallet stole the spotlight after Memecoin investors sold their assets to participate in this deFi project. Compared to Dogecoin, DTX Exchange integrates smart contracts into the platform that play an important role in the execution and enforcement of DTX protocol rules within the exchange.
They facilitate secure and automated trading to ensure that trades are executed as traders intended. As ADA and DOGE disappear behind the emerging deFi platform DTX Exchange (DTX)investors are increasingly adopting its network and leveraging ongoing pre-sales to secure benefits and lucrative opportunities.
Learn more:
Buy in presale
Visit the DTX website
Join the DTX community
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