While Dogecoin’s price has gained strong momentum following Trump’s victory, Elon Musk is also on the brink of launching Dogecoin to new highs, as seen from his high-profile endorsements for the memecoin. Outshining the memecoin sector, DTX Exchange (DTX) is poised to claim a potential 66x surge following the leaderboard release in the network.
Dogecoin (DOGE) Price Aims For a New ATH
After closing last week, trading above $0.36 for the first time since May 2021, DOGE price is now on its way towards a new all-time high (ATH) in the near term. The flagship memecoin, with a fully diluted valuation of about $56 billion and a daily average traded volume of over $9.3 billion, gained 2% in the last 24 hours to trade about $0.382 on Tuesday, November 19.
However, the DOGE price could consolidate around the current range before breaking out of the resistance level of around $0.43. Moreover, a similar pattern happened during the 2020/2021 crypto bull market, which saw the DOGE price consolidate below its ATH before entering the parabolic phase.
Senior crypto analyst Ali Martinez has set a midterm target of about $0.82 if Bitcoin’s price continues to trade above 37 cents in the coming days. The bullish sentiment will be invalidated if Dogecoin breaches the support level of around $0.35, which could further escalate the ongoing correction toward the support level of around $0.29.
Musk Reiterates His Long-Term Support For Dogecoin
The overwhelming support of pro-crypto leaders in the United States, led by President-elect Donald Trump, has played a major role in Dogecoin’s bullish breakout. Moreover, Trump recently appointed Tesla CEO Elon Musk to lead the Department of Government Efficiency (D.O.G.E), inspired by the dog-themed memecoin.
Previously, Musk has confirmed that he currently holds a significant amount of Dogecoin and reiterated his support in the long run. Consequently, the Dogecoin community anticipates Musk to integrate the meme coin with the X payments, including to enable merchandise purchases.
What’s Fueling Bullish Sentiment for Dogecoin?
The overall Dogecoin network has grown to a huge memecoin community despite the low developments compared to other L1 blockchains. According to the latest on-chain data, the Dogecoin network has over 5.3 million holders, out of which the majority are retail traders with less than $1,000 in balances.
DTX Exchange (DTX) Ranks As The Top Crypto Under $1
As a hybrid exchange built on the Ethereum blockchain, DTX Exchange (DTX) leverages its robust infrastructure and smart contract capabilities to create a decentralized and secure trading platform. The platform’s technical architecture revolves around key components that enable smooth trading, security, and transparency.
The platform’s technical architecture consists of smart contracts. These self-executing contracts are deployed on the Ethereum blockchain, which governs various aspects of the platform, including order execution, trade settlement, and asset management. Smart contracts ensure that trades are executed automatically and transparently without the need for intermediaries.
Hybrid Model DTX Presale Crosses $8.11 Million
DTX Exchange (DTX) has broken all previous presale records after its skyrocketing presale rally raised $8 million in a mind-blowing time. Many analysts are attributing the platform’s success to its high-end components. Among them, Ethereum Virtual Machine (EVM) is one of the crucial components of the platform.
The EVM is a runtime environment that executes smart contracts on the Ethereum blockchain. It enables the verification and execution of code within smart contracts, ensuring that trades and transactions on the DTX Exchange are carried out accurately and according to predefined rules.
As Dogecoin is poised to rise up to new highs, DTX Exchange’s booming presale momentum is preparing to break out with massive gains in the market. Join now!
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