After a steep decline over the last couple of months, the memecoin market rally looks very likely to resume soon. Analysts believe that the DOGE price could soar above $1 as excitement builds towards a potential launch of a Dogecoin ETF.
RavenCartelog believes that Shiba Inu (SHIB) will lead the memecoin rally. While the top memecoins are looking bullish, whales are showing more interest in a new altcoin called DTX Exchange (DTX). With over $14.8 million raised in presale, the DTX coin has also soared by 800% through the recent market correction reaching $0.18.
Dogecoin (DOGE) Set To Soar Above $1 Soon
Dogecoin (DOGE) has been one of the biggest losers in the recent crypto market correction. The DOGE price plunged from over $0.42 in January to trade as low as $0.20. The DOGE price is beginning to recover, with data from CoinMarketCap showing that the memecoin is now trading back above the $0.25 level.
Trader Tardigrade, a popular crypto analyst has shared a bullish forecast for the DOGE price. According to the analyst, on the 1W DOGE price chart, the Stochastic RSI is signaling a crossover in the oversold zone. Based on this bullish crossover, Tradingrade has set his long-term DOGE price target as high as $1.5.
This prediction could happen only if the memecoin continues trading within its macro channel on the 1W price chart. There are other events that could spark a DOGE price increase. One of the major events is the approval of a Dogecoin ETF. The SEC recently acknowledged the filing of a spot ETF for Dogecoin, which is a good sign.
Shiba Inu (SHIB) Set for Major Trend Reversal
Since the first week of December, the Shiba Inu price has been in a freefall. From a high of $0.00003400, the Shiba Inu price dropped to a low of $0.00001200 in February. However, $SHIB now appears to be on a recovery path. According to data from CoinMarketCap, the Shiba Inu price has now bounced back above $0.00001550.
The crypto analyst, Raven Cartel, has shared a similar sentiment. According to the analyst, a Shiba Inu price rally will begin another meme cycle. The analyst further explained that the Shiba Inu price didn’t pump much in the last meme cycle. Because of a poor Shiba Inu price movement in the last cycle, the analyst expects a crazy movement in the coming months.
The 1W Shiba Inu price chart shared by Raven Cartel shows that $SHIB is moving towards breaking out of a descending trendline. When this happens, the analyst believes that the Shiba Inu price could rally above $0.00006, representing an increase of more than 4x in the coming weeks.
DTX Exchange (DTX) Soars By 800%, Attracts Whale Attention
While the crypto market has been in correction over the last few weeks, the price of DTX Exchange (DTX) has soared by 800%. The recent price pump has attracted over 600k investors, helping the DeFi project raise over $14.8 million in its ongoing presale. DTX Exchange plans to transform crypto trading through support for multiple markets.
DTX Exchange enables its users to trade over 120,000 financial instruments comprising stocks, crypto, ETFs, forex, and other instruments. The platform enables its traders and investors to manage their portfolio assets from a single platform which traditional crypto markets cannot achieve. The multiple-asset functionality of DTX means it is now the one-stop shop for all your trading requirements.
DTX also operates as a hybrid platform that combines features from both CEX and DEX platforms. The VulcanX blockchain technology which handles more than 200,000 transactions per second is a key component of DTX. The fast processing speeds of VulcanX mean that DTX can outperform even the best crypto exchange.
The Best Crypto To Buy Now: Shiba Inu, Dogecoin, or DTX Exchange
While the memecoins, Shiba Inu and Dogecoin look set for a recovery, the best crypto to buy now is DTX Exchange. While its recent 800% price pump outperforms both DOGE and SHIB, DTX could see even bigger gains in the near future. This is because DTX Exchange is a unique exchange platform, giving $DTX the position to skyrocket by more than 15x in this first half.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com
