In recent times, the Solana ecosystem has seen huge growth due to the remarkable performance of Solana memecoins. However, the bullish momentum in Solana memecoins like Dogwifhat (WIF) and BONK has increased prices, making investors book profits. The funds are now flowing into better opportunities like DTX Exchange, which is in the early growth cycle, offering tokens at undervalued prices in its token presale.
Dogwifhat (WIF) Bearish Pressure Increases Amid Profit Booking
Dogwifhat (WIF) is the second biggest Solana memecoin with a market cap of $3.4 billion. Dogwifhat (WIF) rallied after forming a low of $1.87 on 4th November, increasing to a high of $4.8. The WIF price has decreased by 34%, retesting the breakout zone around the $3 level. Currently, Dogwifhat (WIF) has taken support near the 20-day moving average, coinciding with the $2.9 demand zone.
Dogwifhat’s (WIF) MACD indicator formed a bearish crossover as the short-term MA crossed the long-term MA from above. The bearish crossover is not a good sign for Dogwifhat (WIF) price action. If $3 support breaks down, it can start the next bear leg in continuation of pullback.
BONK Form Bullish Hammer Candle, Reversal Soon?
Launched last year, BONK is the top Solana memecoin and is positioned #37th in the crypto market. BONK has also performed very well in the memecoin rally started with Dogecoin. In the last 30 days, BONK has risen nearly 120% but is not facing selling pressure after a parabolic move. Even in the pullback, the strength in BONK has been maintained as it is still trading above the 10-day moving average and has formed a bullish hammer candle on Sunday.
The relative strength index of BONK has dropped from the high of 85 to the current level of 62, which signifies the reduction in strength; however, it is still close to the overbought zone. If the Bonk price fails to sustain, the next stop could be the 20-day moving average before the $0.000035 support level.
DTX Exchange Prepares For 200x Rally
As Solana memecoins are facing trouble, DTX Exchange has continued the rally, rising to $0.1 in the fifth stage. From its inception, DTX Exchange has provided early investors a 400% return on investment. However, experts are not surprised by the momentum in DTX because they believe it’s just the start. After the launch, the DTX token can skyrocket following the path of cryptocurrencies like Solana.
Currently, DTX Exchange is offering the token at the attractive price of $0.1 in the presale. The listing price for the token has been announced to be $0.2, which makes quick 100% profit potential.
DTX Exchange platform is built for both beginner and experienced traders. Its simple interface makes it easy to navigate for beginners, while the availability of over 100,000 instruments to trade with 1,000x leverage increases the edge of experienced traders. With the innovative blockchain technology, DTX Exchange aims to reduce trading fees and increase the speed of the exchange.
The recent DTX token launch on Coinmarketcap has also attracted investors from different communities, such as Dogwifhat (WIF) and BONK. Investors entering the presale can use the code ‘SELLSTAGE’ to double the first deposit.
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