Onchain Data Points to Dogecoin (DOGE) Whales Entering a New Altcoin Presale Worth $0.04; Expert Analysis
The post Onchain Data Points to Dogecoin (DOGE) Whales Entering a New Altcoin Presale Worth $0.04; Expert Analysis appeared first on Coinpedia Fintech News
Dogecoin has witnessed a sluggish price momentum over the past month. Due to its utter hype-based tokenomics, investors are dumping their meme tokens to mitigate potential losses and secure positions in projects with stable and long-term sustainability. Despite a bullish rally of Bitcoin, DOGE price has again entered a consolidation phase, poised for further decline in the upcoming days.
Dogecoin (DOGE) Price Consolidates Amid Whale Offloading
Dogecoin has always been the favourite of meme coin enthusiasts due to its backing by industry leaders like Elon Musk. Despite the token’s hype after Tesla integrated DOGE for the payments, DOGE’s price has swiftly declined after a brief recovery, failing to sustain above the crucial resistance level of $0.15.
Following the price decline, many DOGE whales have dumped their tokens, leading the trading volume to fall 33%. One such notable transaction according to on-chain data highlighted an offloading of 400 million DOGE, valued at approximately $62.8 million on the Robinhood exchange. This is fueling a speculative market sentiment for Dogecoin’s trajectory.
— Whale Alert (@whale_alert) May 7, 2024
Analysts suggest a further drop in DOGE price as evidenced by the rejections at the $0.17 mark in the recent upsurge. A prolonged bearish phase is likely to grab the meme coin while the DOGE price can further face a drop at the $0.13 level. Dogecoin is trading at $0.15 with a 0.8% decline on the intraday chart.
Following the bearish trend for the DOGE price, whales are turning their capital flow towards the DTX Exchange (DTX). The project is in stage 2 of its public presale and is poised for massive growth due to its scalable infrastructure and unprecedented trading solutions.
DTX Exchange (DTX) Promises 25x Growth Potential From $0.04
DTX Exchange (DTX) continues to lead the deFi sector, witnessing massive capital influx by global investors in its ongoing presale. 1000x leverage feature and distributive liquidity pools are central to DTX Exchange, empowering traders to optimize their funds and engage in profitable trading in diverse financial markets.
The hybrid exchange commits to enhancing user security and individual ownership by bringing in DTX non-custodial wallets and KYC-free onboarding. Through blockchain technology, the platform boasts a robust and secure trading environment where users can trade without any fear of asset compromisation or data theft by third parties.
Investors are attracted to the platform’s low-cost transaction and easy-to-understand user interface. As the demand continues to grow, DTX Exchange is witnessing a high capital influx, fueling a surge in the presale beyond $500,000 in stage 2. The project is poised to be a multi-million ICO project by the end of its presale.
Analysts have high hopes for the DTX Exchange, driven by its potential to revolutionize the trading sphere through deflationary tokenomics.DTX token is priced at $0.04 in stage 2 which will surge past $0.06 in the next stage. There is a potential for the token price to exceed $1, offering investors substantial profit opportunities.
Learn more:
