Shiba Inu (SHIB) Fails At 10MA Retest As Bears Take Control

Capital inflow in the crypto market has increased, boosted by Bitcoin's rally of over $100,000 psychological mark. However, after this achievement in BTC

Capital is flowing into the crypto market again, thanks to Bitcoin’s rally past the psychological mark of $100,000. But after Bitcoin hit this milestone, the market pulled back sharply, absorbing the profit from selling in the first stage of the bull market.

Memecoins like Shiba Inu (SHIB) and PEPE have suffered during this correction, dropping more than 20% from their recent highs. Meanwhile, DTX Exchange (DTX), a new player in the TradFi market, has maintained momentum even during the correction phase. With its unique trading platform, DTX aims to dominate the trillion-dollar trading industry.

Currently, DTX Exchange is benefiting from profit booking in the crypto market, particularly from Shiba Inu (SHIB) and PEPE investors who are shifting from meme coins to utility-driven coins.

Bearish Control As Shiba Inu (SHIB) Fails At 10MA Retest

Shiba Inu (SHIB) experienced a bullish trend in November, rising 54%. However, this significant momentum was still underwhelming compared to its peers. Since the start of December, SHIB has faced bearishness, first rejecting from the $0.000033 monthly high and then dropping to the swing low of $0.000024.

During Wednesday’s market reversal, it tried to retest the previous barriers but faced strong rejection from the 10-period moving average, a sign of the short-term trend. In the last 24 hours, Shiba Inu (SHIB) has decreased by 2.28%, and the trading volume has decreased by 23.9%. Despite this, community sentiment is still bullish, according to the data from Coinmarketcap.

In the past two days, 17 million Shiba Inu (SHIB) tokens have been burned, according to data from shibburn.com. While the number sounds impressive, these tokens are worth only about $500. For a total change in direction, Shiba Inu (SHIB) depends on market conditions as the core of meme coins is hype by the community.

PEPE Price Consolidates Near High, Breakout Soon?

Along with Shiba Inu (SHIB), PEPE took a major hit, dropping to a low of $0.000021 and experiencing a double-digit decline. However, it quickly recovered, climbing 18% on Wednesday, but the fight between bulls and bears is still ongoing, resulting in indecisive price action in the charts.

The parabolic extension in the PEPE price in November is a primary reason for the current correction. While it is trading 16% below its all-time high, it may take longer to reach a fresh high.

DTX Presale Success: A Strong Foundation

DTX Exchange (DTX) is a pioneer in the hybrid protocol, offering traders a dream trading platform. Its emphasis on real-world applications, especially in the trading exchange industry and decentralized finance, helps to set it apart from meme coins, which are only hype-driven. This utility and potential to disrupt the exchange sector create regular demand for DTX tokens.

With its explosive potential to skyrocket by 10,000% from the current price of $0.12 to $12.12 by 2025, DTX Exchange (DTX) has become a rising star in the crypto market. Its hybrid protocol supports it, allowing users to access different assets like crypto, stocks, forex, and bonds in a single platform. DTX presents a special combination of innovation and future potential.

In its presale, DTX Exchange has chosen retail investors over Venture capitalists and whales, which gives the retailers an equal opportunity and also saves them from being dumped by large investors. Community is a crucial aspect of any project, and supporting retailers shows the affection and support of DTX Exchange towards the community.

With the presale success raising $10.2 million, DTX Exchange is already a known name in crypto, making it a strong contender against popular meme coins and utility coins.