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Memecoins have taken a major blow amid global financial regulations. The meme sector sunk by 8%, dropping below $60 billion in market cap. Many notable coins are witnessing huge losses as prices drop to key support levels with increasing market volatility. PEPE and Dogwifhat (WIF) are among the top decliners with a double-digit price drop.
The frog-themed memecoin witnessed a promising rally at the end of May. After surging past $0.0000165, whales are now selling their holdings to cash out profits, triggering a pessimistic outlook for PEPE. Moreover, the metrics of social dominance and social volume for PEPE display a declining trajectory from the start of June.
The memecoin has dropped to a key support level at $0.00001257, witnessing a 19% drop on the weekly chart. Transactional volume is reaching the sky, indicating a high sell-to-buy ratio. What’s next for the PEPE is still uncertain due to mixed signals and broader market implications. Analysts are still warning about investing in PEPE right now as further price consolidation is likely.
Dogwifhat's astounding price rally is now cooling off as the price drops to $2.78. The trading volume has surged by 104% indicating high market volatility for the meme coin, combined with selling pressures. A sentimental shift for WIF coins amid the broader market downturn triggers further price retracement to $2.5.
WIF token is witnessing an overnight drop of 15.5%, displaying bearish candles on the chart for the next few weeks. While some analysts are optimistic about Dogwifhat’s price reversal, many are suggesting investors take positions in other promising deFi projects like DTX Exchange for ground-breaking returns.
DTX Exchange (DTX) is set to steal dominance from legacy exchange projects due to massive upside potential for 100x gains. With a ground-breaking presale of $660,000 in stage 2, DTX stands out as the top performer in the trading sector. The platform features 1000x leverage and advanced trading schemas in diverse markets, including stocks, forex, equities, and cryptos.
The hybrid platform of DTX offers cutting-edge use cases and an accessible trading environment. Supporting over 120k trading assets, the platform aims to empower traders with distributive liquidity pools and robust security. DTX holders are entitled to governance rights and access to mega giveaways.
DTX Exchange offers advanced security features through its non-custodial wallets and blockchain layer 1 technology. The platform is the first to dismiss gas fees with its VulcanX update, committing to its user-friendly strategies to maximize profitability. Users can securely store their funds in DTX wallets, eliminating risks of compromisation.
DTX Exchange is currently a hot topic in the tradFi sector. Investors are flocking towards DTX tokens at $0.04 before they go up to $0.06 in the next presale stage. Market experts believe the token will reach $2 before it gets listed on major exchanges, making this an ideal time for early adopters to join the KYC-free DTX Exchange.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
