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The crypto market has been experiencing high volatility over the past few weeks which has affected the trajectory of top altcoins like Ethereum (ETH) and Shiba Inu (SHIB). While their prices have dropped, that of the DTX Exchange (DTX) has remained bullish. Data shows the DTX price has increased by 800% over the past few months.
DTX is among the top performers in the market right now, gaining the attention of over 700k users. DTX is a trading platform that will provide its users with an opportunity to trade in cryptocurrencies, stocks, ETFs, and forex. The price of its native token is expected to rise by 10x before the end of this first half.
Over the past week, the Ethereum price has been consolidating between $2.6k and $2.85k. The Ethereum price faces a notable resistance level around the $2.75k-$2.8k region. Crossing this resistance could trigger a rally to $3k. After the last rejection on February 17, bulls are making another attempt to breach the barrier.
CoinMarketCap data shows the Ethereum price has soared by 2.3% on the weekly timeframe and 1.6% on the monthly chart. Given the current situation of the market, the Ethereum price might reclaim the $3k level before the end of February. There has been a massive increase in whale accumulation in the past few weeks.
Ted revealed that Ethereum whales bought over $12.9 million worth of Ethereum coins recently. Crypto Rover forecasts the Ethereum price could skyrocket to $10k in the coming months. According to the analyst, the Ethereum price has been trading above an ascending line in the last few months. Maintaining this level could push the Ethereum price to $10k in the coming months.
According to recent reports from IntoTheBlock, Shiba Inu (SHIB) has added over 840k addresses in the past year. Unfortunately, the increase in addresses has not been reflected in price movement. In the meantime, the Shiba Inu price has dipped by 4.6% in the weekly timeframe. It is among the top memecoins that have corrected to lower levels in the past month.
Looking forward, TokenTalk3x notes the Shiba Inu price is trading in an ascending channel. A break or hold above this channel could determine the Shiba Inu price in the coming days. In the case of breakout, the Shiba Inu price could fall to retest the $0.000015 support.
In the case of an uptrend, the Shiba Inu price might surge to $0.000017. Meanwhile, another analyst called CW forecasts the Shiba Inu price might surge to $0.00004 in the coming months. These predictions show the Shiba Inu price could rise in the next few weeks.
DTX Exchange (DTX) is a platform that combines the characteristics of centralized and decentralized exchanges. Its offerings of low fees, fast transactions, high liquidity, and anonymity give users the best trading experience. Built on the Layer-1 hybrid blockchain, DTX Exchange of the VulcanX platform does not have the drawbacks of fully public or fully private networks while providing increased security and performance.
In the testnet phase, VulcanX showed high performance in terms of the number of transactions per second, exceeding 200,000, which puts it in the category of high-speed blockchains. This high-speed trading feature enables traders to engage in fast trading of various products such as cryptocurrencies, equities, forex pairs, metals, and ETFs on DTX Exchange.
The native token of the platform is DTX, which is in its crypto ICO stage at $0.18, and it is believed that it could reach $1 this year. This has created a lot of interest among investors who are on the lookout for good returns on their investments.
While Ethereum and the Shiba Inu coin remain in the grey area, DTX Exchange is moving forward, gaining thousands of users and preparing for a huge pump. Based on its unique concept and high presale demand, DTX has all the potential to become one of the best DeFi projects in the market. It has been tagged as the next big thing in the crypto space.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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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 scams, 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.
