As the market picks up pace, meme coin speculation has become hot. In the last month, meme coins have faced extreme selloffs due to the sentiment shift to utility altcoins. However, Shiba Inu (SHIB) gained momentum on 15 January, which could signal a new rally. The intriguing question is whether the Shiba Inu price will be able to invalidate its previous sluggish behavior.
Meanwhile, the upcoming hybrid trading platform DTX Exchange (DTX) has stolen the spotlight with its rapid selling presale. DTX has seen a massive capital influx due to an increasing focus on more sustainable and utility-based coins. DTX presale has soared over $11.85 million, indicating swelling interest from retail and institutional investors.
Shiba Inu Price Attempts Reversal: Can It Surge Again?
Despite the massive momentum in the November rally, the Shiba Inu price failed to break above the $0.000033 resistance level and dropped over 40% due to the decreased demand. With this plunge, the Shiba Inu price reached the $0.00002035 support level and has moved between this level and the $0.00002460 resistance for the past month.
In the last 24 hours, the Shiba Inu price has surged by over 5.5% and trades at $0.000022. Due to the correction after the rally and consolidated action, Shiba Inu has moved below the 100-day SMA. The Shiba Inu price faces rejection from this SMA today despite an increased demand indicated by a 38% increase in daily trading volume.
Source: CoinMarketCap
However, the MACD oscillator is below the baseline but has moved above the signal line and is rising steadily, indicating increasing bullish sentiment. Thus, the Shiba Inu price can start a new uptrend if it breaks the immediate resistance levels at $0.00002340 and $0.00002460 with sufficient volume.
Shiba Inu (SHIB) has gained significant attention as its Open Interest surged during the ongoing crypto market rebound. Data from CoinGlass reveals that traders opened derivatives contracts worth $399.79 million, representing 18.64 trillion SHIB, in the past 24 hours. SHIB Trade, an analyst on X, pointed out a notable technical development in Shiba Inu’s price action on January 15, confidently stating, “Shiba Inu is ready to pump.”
DTX Exchange: Revolution in Online Trading
Unlike Shiba Inu, which relies on hype and community sentiment, the DTX Exchange (DTX) ecosystem has developed, focusing on real-world use cases. The platform bridges the gap between conventional and digital platforms with its proprietary hybrid protocol. The platform allows investing in commodities, crypto, forex, equities, or tokenized ETFs; thus, investors can create a diversified portfolio with balanced risk.
The platform is built on the layer-1 VulcanX blockchain, whose testnet achieved 100,000 TPS, surpassing the industry’s biggest blockchains. It has also released a secured wallet system, Phoenix Wallet, known for its multi-layer solution and advanced protection from online hacks.
The exchange has a no-KYC policy, preserving users’ anonymity and safety. Furthermore, traders can use the incredible 1000x leverage. A $100 investment could give traders access to liquidity reaching $100,000.
Big investors, like venture capital firms, control many utility tokens. When these tokens are offloaded into the market, retail investors face huge losses. DTX Exchange has solved this problem by offering a fair public presale system. In its seventh presale round, the DTX token is available at $0.14, providing an enticing opportunity for everyone regardless of budget. Analysts predict a 33,000% upside when the tokens hit the tier-1 exchanges.
Find out more information about DTX Exchange (DTX) by visiting the links below:
