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Cryptocurrency News Articles
Shiba Inu (SHIB) Might Be Nearing a Bearish Zone, DTX Exchange (DTX) Surprises with Viral Presale
Oct 21, 2024 at 09:12 pm
In recent altcoin analysis, Shiba Inu (SHIB) has shown impressive performance, but it might be approaching a bearish zone if it fails to avoid certain warning barriers.
Shiba Inu (CRYPTO: SHIB) and Fantom (CRYPTO: FTM) are showing signs of slowing down, while DTX Exchange (DTX) is making waves with its presale token.
What Happened: Shiba Inu enjoyed a solid rebound in the last month with a price increase of over 40%. However, analysts are warning that the memecoin may be approaching a zone that could lead to a slowdown or, in the worst case, a critical drop in price.
Among the elements that could contribute to a price decrease are the SHIB exchange net flow, which has been bullish for the last few days, shifting from self-custody methods toward centralized platforms and increasing selling pressure for Shiba Inu.
Shiba Inu’s price dropped around 5% in the last 24 hours and is trading at $0.000018 at press time.
Shiba Inu aims to burn 100 trillion SHIB tokens by early 2023. The SHIB burn rate is crucial for the memecoin to reach higher price levels and reduce the vast supply in circulation.
Shiba Inu recently enjoyed a 24-hour涨幅 of over 5%, bringing it closer to the next Fib level resistance at $0.000020.
Shiba Inu is now preparing for the next Fib level support at $0.0000161 after experiencing a price drop from the Fib level resistance at $0.0000181.
After experiencing a 24-hour跌幅 of over 1.5%, Fantom is trading at $0.71 at press time.
Investors are being alerted to the bullish sentiment on the Fantom network with the recently observed price rally on the platform. However, analysts are expressing concerns about the long-term viability of this uptrend on the platform.
Despite the initial bullish pattern, certain technical indicators for Fantom hint at a potential momentum weakening.
As of today, Fantom is trading at $0.71 per token. In the last 24 hours, Fantom has dipped by 1.5% – raising questions about its long-term price stability among FTM holders.
Some analysts say that the strong bullish trend may soon end as the ADX values have notably declined.
FTM currently holds a $2.01 billion market cap and a 24-hour trading volume of $160.84 million, which has declined by 12.36%.
The ADX level is currently at 28.85, falling below its 32 mark in the last 24 hours. Fantom experienced this after a rapid surge where the ADX surged from 15 to 32 in 48 hours, which reflected a strong and swift increase in trend strength.
However, this fluctuation in its value proposition has demoted Fantom among the investor community.
DTX Exchange’s rising value is flying off the charts as Shiba Inu and Fantom show signs of an upcoming bearish sentiment.
This emerging hybrid exchange has beaten the majority of the market giants with its highly bullish presale rally.
Analysts say DTX Exchange’s successful presale at only $0.08 per token is the safest and most beneficial investment yet.
Furthermore, some of the community members claim DTX Exchange to be one of the best crypto exchanges so far.
They point towards the handy and convenient platform environment laid out by the DTX team that helps traders and investors trade smoothly. DTX offers a wealth of charts, graphs, and analytical tools, which empower users to make the best possible decisions and stay ahead of the curve.
DTX Exchange Leads Fantom (FTM): Token Sales Cross 14 Million
DTX Exchange’s growing popularity in the deFi sector has ranked it among the strongest competitors against the Fantom network.
Investors are prioritizing this $0.08 altcoin over Fantom as it presents stronger price rallies, blockchain upgrades, and technological advancements that deliver cutting-edge performance and robust security protocols.
As DTX Exchange accelerates through the presale round 4, investors and traders are increasingly joining this network and selling off SHIB and FTM assets to be a part of the next big thing in the market!
Learn more:
Buy Presale
Visit DTX Website
Join The DTX Community
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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