The cryptocurrency market is known for its constantly changing behavior. A recent topic of discussion is whether meme coins will recover. A Dogecoin trader known for his legendary trades during the 2021 bull market believes meme coins could gain traction in the coming weeks. However, he also said the focus was on utilitarian pieces. It has already entered the utility market and holds the viral altcoin DTX Exchange (DTX).
As Dogecoin price trades in a bull flag pattern on the weekly chart, the DTX Exchange has taken another step into the presale. DTX pre-sale surpassed $12 million ahead of schedule. The project is attracting immense interest from renowned traders and investors due to its unique market positioning through hybrid blockchain technology.
In this article, we discuss the appeal of these two crypto categories and find out why DTX Exchange could quickly bench meme king Dogecoin.
Could Dogecoin Price Reach $1 Target?
The meme corner community has long wondered whether Dogecoin Price could reach $1. Over the past few weeks, DOGE has been trading between $0.30 and $0.39, fueling a lot of hype that it could initiate a rally after breaking out of the upper range. However, profit-taking in just two sessions over the weekend ended optimism for a further rise in the price of Dogecoin.
Source: CoinMarketCap
After the rejection of $0.43, Dogecoin price found support at the ascending trendline and attempted a quick rebound, but the bulls pulled back due to selling in the $0.40 region. DOGE has traded almost flat over the past seven days, but it has held on to 18% monthly gains. However, despite the increase in volume in recent days, the Dogecoin price has not seen any momentum.
A Dogecoin whale recently stoked market concerns by offloading tokens worth nearly $140 million on Tuesday. On-chain data shows that 400 million DOGE has been transferred to a cryptocurrency exchange, leaving investors worried as the token’s price continues to fall.
DOGE is a strong player with a few cycles under its belt. However, Dogecoin price reaching $1 in the near term does not seem feasible. Experts believe that if the market maintains its momentum in the second half and the coin sector revives, DOGE could achieve its long-term goal.
DTX Exchange: democratizing multi-asset trading
DTX Exchange is one of the few projects aiming to redefine trading with its innovative blockchain technology. Traders have to move from one platform to another to trade on different markets, but the hybrid protocol of DTX Exchange fixed this problem.
By combining the features of decentralized and centralized exchanges, DTX Exchange offers its clients a multi-asset trading platform with over 120,000 asset types, such as stocks, bonds, ETFs and cryptocurrencies.
This project uses the security and decentralization of Ethereum to introduce sophisticated features to the exchange industry, such as smart contracts and compatibility with the Ethereum Virtual Machine (EVM).
KYC is not mandatory, as there is no single KYC system. There is a no-KYC policy and you only need a valid email address to sign up. SolidProof, a leading auditing firm, carried out the audit, which significantly improved investor confidence in the project.
Currently, we are in the eighth stage of the pre-sale, where we DTX the token is priced at $0.16. The presale raised $12,216,144.78, demonstrating strong investor interest. This high demand is evident as Dogecoin traders are rushing to buy the token before the current stage is sold out.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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