Dogecoin (DOGE) and DTX Exchange (DTX) have shifted investor interest from other emerging altcoins to their remarkably surging demand in the market. While Dogecoin (DOGE) is eyeing new highs after Trump claimed victory, DTX Exchange (DTX) is on the brink of exploding with over 300% potential gains in the near term as investors and retail traders join the project.
Dogecoin (DOGE) Price Surge: 5 Billion DOGE Transfer Signals Rally
In the last 24 hours, 5.8 billion Dogecoin tokens have been transferred, signaling a shift in market behavior. Dogecoin’s price is currently at $0.398, with a 1.68% decrease. However, its trading volume surged by 21.50%, reaching $3.64 billion. The increase in transactions, combined with previously dormant tokens moving, suggests a major market change underway.
Technical indicators, including the 200 EMA, point to DOGE potentially entering a bullish phase soon, adding to the growing speculation. Dogecoin price has seen huge additional transaction volume, with 5.8 billion tokens traded in the last 24 hours. The sharp rise is preceded by a length of time when these tokens had not been active.
The volume on Dogecoin’s chart has been spiking up. However, trading volume usually shows a rough indication of the price of an altcoin. Such volume spikes on the chart often cause a change in market behavior. Dogecoin’s price has gone up in response. Recent activity has been signaling a very strong comeback from the Dogecoin area.
Source: TradingView
Shift in market dynamics can often be seen when long dormant tokens start to move. In most cases, this could be because long-term holders are selling or new market participants are joining. This uptick in activity could be the start of further price action as market participants respond to these changes.
Increased Whale Activity Indicate Possible Breakout
Dogecoin has gone into an accumulation phase, where its price has been in a tight range. Dogecoin’s highs this month were seen late in the first week of the month, while lows were hit on the third day following a sharp decline in the price of the token. It’s been range-bound since between support near $0.33840 and resistance around $0.48310.
Nevertheless, sideways movement in this period often results in a breakout at some point, and increased whale activity may be a catalyst to push the price in a new direction.
This time has been particularly noticeable for whale activity. It’s common to see large movements of Dogecoin by whale investors as a sign of market manipulation or big upcoming moves. They often have sufficient power to cause prices to move in either direction, and their activity in the market can cause prices to spike.
Memecoin Lovers Ditch DOGE for DTX Exchange’s 25x Gains
DTX Exchange (DTX) has risen to prominence after memecoin investors flocked to this emerging hybrid platform, which offers up to 1,000x leverage and is positioned to secure massive gains in the near term. The platform also received a grand response from investors after launching the first-ever unified blockchain ‘VulcanX.’
Following the launch of its cutting-edge VulcanX blockchain, retail traders and institutional investors showed interest in DTX Exchange (DTX). The reason behind the sentiment shift was the robust security measures and technological advancements launched in the project with the launch of VulcanX.
DOGE Loses Traction To DeFi Powerhouse DTX Exchange (DTX)
As the new entrant DTX Exchange (DTX) is making waves with its jaw-dropping presale performance, the majority of crypto giants are losing traction in the volatile crypto market. While institutional investors are still contented with the traditional crypto trading platforms, fresh traders are opting for DTX Exchange (DTX) over obsolete trading channels.
This deFi platform is receiving such a resounding response from fresh traders because of its hybrid model that combines the best elements of both centralized and decentralized exchanges. If you’re on the lookout for the next presale powerhouse in the crypto market, DTX Exchange (DTX) is your one-stop trading platform that is positioned to hit new highs in Q1 next year. Join now!
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