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The Dogecoin price will reach a new high this year, as per technical analysis by top analysts. The top meme coin has already surged fourfold over the past two years, and this has renewed investor activity in the broader meme coin market. The launch of the President’s TRUMP coin last Friday saw it rise to exponential highs, meaning meme coins are here to stay despite being a speculative asset with no real-world utility.
Trump’s inauguration, coupled with the TRUMP coin success, means investor confidence and market sentiment are riding high. Even new tokens like DTX, powered by the hybrid trading platform DTX Exchange, are gaining traction in light of a favorable crypto future. DTX is gaining momentum during its presale and will soon be listing on tier-one exchanges.
Dogecoin’s Current Performance
The Dogecoin price at the moment is $0.35, and resistance is at the 0.5 Fibonacci level of $0.39. Momentum is currently neutral, as per the expert. The multi-billion dollar crypto icon is trading 33% below its multi-year high but several factors mean a more significant upside for the world’s largest meme coin. Whale activity is the primary driver, followed by the launch of the official US DOGE website.
In the tailwind of the TRUMP coin, the website brought unprecedented visibility to DOGE. Following news about the DOGE ETF filing, there is heightened anticipation of the Dogecoin price finding support as soon as it reaches potentially more significant peaks. An ETF approval will increase DOGE’s exposure and legitimacy and increase its demand not only in the crypto space but also in the broader financial world.
Key experts say the next target of the Dogecoin price is $2. This might be an ambitious outlook, but that is what all the technical indicators say, and since whales are accumulating DOGE by the millions, $2 might very well be possible this year.
DTX Exchange to Outpace DOGE?
By revolutionizing the current trading model as it merges centralized exchanges with decentralized exchanges, DTX Exchange has positioned its token, DTX, to outperform legacy tokens and over-hyped meme coins. The DTX platform supports over 100,000 currency pairs and will enable users to trade fiat and crypto derivatives alongside each other.
DTX Exchange is powered by the VulcaanX layer-1 blockchain, and it has achieved 200,000 TPS on its testnet. This means faster transactions in real-time and a more cost-effective alternative to traditional trading. Democratizing the trading model will create much-needed transparency in centralized trade and make crypto trading more reliable and secure.
DTX Exchange offers a 1000x leverage on its platform and also offers large DTX holders profit sharing. Its Phoenix Wallet, a noncustodial solution, can support over 10,000 assets and has been downloaded 300,000 times. With a growing community to back it up, DTX will streamline trade and eliminate complexities associated with traditional forms of trading.
Key Takeaways
A significant draw for investors towards DTX Exchange is its focus on decentralization and user-friendliness. Regardless of the size of their investment, every user has governance rights, and audits by SolidProof ensure robust security. In the 8th stage of the presale, the token is at an affordable $0.16, and early investors are laughing their way to the bank.
Investors, whales, and traders are embracing this transformational DeFi project for massive gains and an excellent opportunity to be part of the changing future of global finance.
To know more about the DTX Exchange ecosystem, Check out:
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
