As the market accelerates, speculation on meme coins has become hot. Over the past month, meme coins have faced extreme selling due to the shift in sentiment towards utility altcoins. However, Shiba Inu (SHIB) gained momentum on January 15, which could signal a new rally. The intriguing question is whether the Shiba Inu’s price will be able to invalidate its previous sluggish behavior.
Meanwhile, upcoming hybrid trading platform DTX Exchange (DTX) stole the show with its rapid sale presale. DTX has seen a massive influx of capital due to the increasing focus on more durable and utilitarian pieces. DTX presale has soared to over $11.85 million, indicating growing interest from retail and institutional investors.
Despite the massive momentum from the November rally, Shiba Inu price failed to break above the $0.000033 resistance level and fell by over 40% due to falling demand. With this drop, Shiba Inu price reached the support level of $0.00002035 and has been moving between this level and the resistance of $0.00002460 over the past month.
In the last 24 hours, the Shiba Inu price jumped over 5.5% and is trading at $0.000022. Due to the correction after the rally and the consolidated action, Shiba Inu moved below the 100-day SMA. Shiba Inu price is facing rejection from this SMA today despite increased demand indicated by a 38% increase in daily trading volume.
Source: CoinMarketCap
However, the MACD oscillator is below the baseline but has moved above the signal line and is rising steadily, indicating increasing bullish sentiment. Thus, Shiba Inu price can start a new uptrend if it crosses the immediate resistance levels at $0.00002340 and $0.00002460 with sufficient volume.
Shiba Inu (SHIB) has attracted considerable attention as its open interest has increased during the ongoing crypto market rebound. Data from CoinGlass reveals that traders opened derivatives contracts worth $399.79 million, or 18.64 trillion SHIB, in the past 24 hours. SHIB Trade, an analyst on
Unlike the Shiba Inu, which relies on hype and community sentiment, the DTX Exchange (DTX) The ecosystem has grown, focusing on real-world use cases. The platform bridges the gap between conventional and digital platforms with its proprietary hybrid protocol. The platform allows you to invest in commodities, cryptocurrencies, currencies, stocks or tokenized ETFs; thus, investors can create a diversified portfolio with balanced risk.
The platform is built on the VulcanX layer 1 blockchain, whose testnet has reached 100,000 TPS, surpassing the largest blockchains in the industry. It also launched a secure wallet system, Phoenix Wallet, known for its multi-layered solution and advanced protection against online hacks.
The exchange has a no-KYC policy, preserving user anonymity and security. Additionally, traders can use the incredible 1000x leverage. An investment of $100 could give traders access to liquidity of up to $100,000.
Large investors, like venture capitalists, control many utility tokens. When these tokens are dumped in the market, retail investors face huge losses. DTX Exchange solved this problem by offering a fair public presale system. In its seventh presale cycle, the DTX token is available at $0.14, providing an exciting opportunity for everyone, regardless of their budget. Analysts predict a 33,000% surge when the tokens hit Tier 1 exchanges.
