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Brazil's parliament has proposed a new bill permitting investment funds to include cryptocurrencies. The legislation intends to establish a regulatory framework enabling Brazilian investment funds to buy and hold cryptocurrencies. This underscores the rapidly growing interest among Brazilian investment funds in diversifying into digital assets.
More importantly, it reflects broader acceptance of cryptos, which could see an influx of institutional capital into popular projects like Shiba Inu (SHIB) and Dogecoin (DOGE) and newcomers like DTX Exchange (DTX). While DOGE and Shiba Inu price actions remain volatile, promising DTX has signaled itself as the next-gen exchange. Its ongoing presale has already raised over $13.60 million, sparking discussions on the market on whether it's the next player to lead the way in 2025. Let's find the possibilities!
Despite Dogecoin price corrections, some market participants have hinted that DOGE is massively undervalued. This presents a strong buy opportunity for traders. Per Asif.eth insights, Dogecoin price has completed its corrective phase and is on track for a strong rebound. He noted that the DOGE token follows an Elliot Wave ABC corrective pattern, indicating that it experienced a massive rise, which followed three corrective phases labeled A, B, and C.
The final C-wave seems to have settled within a critical support range between $0.24 and $0.18―a huge area of supply turned into a demand zone. This is a good place to accumulate DOGE coins, giving examples where Dogecoin price flipped this range between support and resistance. He also cited a strict cutoff level at $0.16, warning a drop below this level could invalidate the bullish structure.
Moreover, its technical structure reinforces bullish momentum for a Dogecoin price recovery. Its RSI has entered oversold territory, reflecting a strong buy signal. The Fibonacci retracement levels highlight Dogecoin price has aligned with a historically significant support zone, further suggesting the possibility of a rebound. Dogecoin price struggles are not unique to the meme coin market. At the same time, the broader market faced headwinds, with Bitcoin volatility influencing sentiments across altcoins. However, Dogecoin price remained resilient, stabilizing within the $0.25-$0.40 range.
Shiba Inu's price has experienced a notable rebound after a steep dive that sparked concerns among investors. The meme coin has risen to trade near the $0.00001600 level as a result of whale accumulation, despite long-term holders experiencing losses. As the Shiba Inu ecosystem evolves, the market signals remain mixed, with both promising and uncertain factors influencing its future price direction.
One contributor to Shiba Inu price recovery is the recent whale accumulation. SHIB whales have added a massive 3.5 trillion SHIB tokens, approximately $57 million. The recent uptick reflects positive sentiment among large investors as they position their holdings for a potential Shiba Inu price rally. Furthermore, it has acted as a buffer for SHIB's price, preventing further declines. If the whale-driven demand continues, it could offer short-term support, possibly stabilizing the Shiba Inu price and providing a foundation for further rallies.
Despite this, the overall SHIB market sentiment is more complex. Notably, long-term SHIB holders have faced losses, with MVRV long/short Difference slipping to -3%. This suggests that the long-term holders are on the same profitability level as short-term holders, causing increased uncertainty in the market. Its technical indicators suggest bearish pressures emanating from selling pressures from short-term traders that could limit the token's ability to break out. As the market continues to evolve, Shiba Inu's ability to hold gains will depend on whether whale buying activity continues and whether it can successfully navigate key resistance levels.
DTX Exchange is the latest entry to the crypto market and has quickly gained ground to solidify its position as a promising altcoin to watch due to its revolutionary offerings and solid fundamentals. For context, DTX Exchange is a hybrid protocol that aims to bridge the gap between centralized and decentralized finance. While the custody portion will operate in a more decentralized way, the performance of DTX will mimic centralized exchanges.
What's even more interesting is that DTX Exchange will unify over 120,000 financial instruments like stocks, forex, bonds, and cryptos to be accessible from one single interface. This is made possible by the layer-1 blockchain VulcanX. It saves the hassle of managing multiple wallets. Moreover, DTX offers 1000x leverage and a distributed liquidity pool to enable them opportunities to maximize and optimize their investments to gain big profits. All users, regardless of their investment size, will have governance rights since it's a genuinely decentralized network.
Dogecoin and Shiba Inu's strong market presence haven't stopped investors from identifying DTX Exchange as a more promising newcomer. In just a few months of its presale, the new DeFi token has grown significantly, raising over $13.60 million. Meanwhile, DTX tokens are selling at a low entry of $0.16. Once listed, it is expected to rise to $0.20, marking a 25% increase for early participants. With strong fundamentals and massive growth potential, DTX Exchange could become one of the best cryptos to buy in 2025.
With the news of Brazil proposing a crypto fund sparking optimism in the market, the Dogecoin and Shiba Inu prices have remained stagnant. While the Shiba Inu price is on the verge of a breakout and the DOGE token on a consolidation phase, DTX Exchange is quietly stealing the spotlight with its revolutionary unified trading platform. With the presale holders already enjoying a 700% return, this new crypto has positioned itself to outpace the DOGE and the Shiba Inu price rallies.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
