The hype of meme coins such as SHIB has declined significantly over the years because the trend is shifting towards utility tokens, which provide real-world use cases and offer better long-term growth.
Experts are backing the emerging DeFi project, DTX Exchange, which is in massive demand after raising a remarkable $13.6 million in record time with its token presale.
The Shiba Inu Price Struggles As SHIB Holders Withdraw
As traders liquidate SHIB holdings and move funds to more practical projects, the Shiba Inu price continuously drops below crucial support levels. After its rally, SHIB experienced significant corrections due to increased selling pressure. The Shiba Inu price has plummeted 52% over the last two months after being rejected from $0.000033.
SHIB is now trading lower than where the rally started. At press time, the Shiba Inu price is at $0.00001594, having moved +3.36% in the last 24 hours. However, the daily trading volume for SHIB has dropped over 10%.
Due to the steep decline, the Shiba Inu price is below its long-term 200-day and 500-day SMAs. The MACD oscillator has changed direction over the last two days as the Shiba Inu price is retracting, indicating a slight increase in bullish sentiment for SHIB.
DTX Exchange: A Hybrid Trading Ecosystem
Unlike SHIB, DTX Exchange is an Ethereum-based utility altcoin. It is reducing the gap between centralized and decentralized finance. It has developed a trading ecosystem powered by a hybrid blockchain, VulcanX, which has demonstrated a staggering speed of 200,000 TPS in its testnet phase.
This native layer-1 network seamlessly combines CEX and DEX features and can provide selective transparency, allowing DTX Exchange to integrate traditional assets into a decentralized framework. Thus, the platform enables users to trade stocks, crypto, forex, bonds, etc., offering them over 120,000 assets under a single platform.
Additionally, DTX Exchange uses distributed liquidity pools to address liquidity issues. This system ensures a minimum threshold of funds by accumulating from external exchanges, user deposits, and liquidity providers. Thus, it offers users up to 1000x leverage, allowing them to increase profits multi-fold with reduced slippage and consistent prices.
To promote financial inclusion, DTX Exchange is bringing the power of DeFi to all traders worldwide. It has adopted a no-KYC policy so users can register without sharing personal data. This promotes privacy and allows users to trade in the global markets without restrictions, regardless of their background or nationality.
Furthermore, the platform is equipped with various trading tools to meet the needs of advanced traders. Trading bots and portfolio management tools allow traders to automate their strategies and streamline asset diversification. Alternatively, the platform is ideal for newcomers since it has an intuitive interface and provides tutorials on using various functionalities.
Final Thoughts
The native token, DTX, is in the final stage of the public presale. Its value has surged tremendously from $0.02 in the first round to $0.16 in the current round. Thus, early investors have made up to 700% returns with steady surges in each round. New participants can also make a quick 25% return as DTX will launch at $0.20 after the presale.
However, holding DTX for the long term can provide much higher returns than a potential Shiba Inu price rally. Experts suggest that if, after its listing, DTX Exchange grows to the market cap of SHIB, which is at $9.6 billion today, then DTX will be worth $20 as there is a fixed supply of 475,000,000 tokens. This translates to a 12,400% return from the current value.
Find out more information about DTX Exchange (DTX) by visiting the links below:
