Shiba Inu (SHIB), one of the biggest and most well-known meme coins, is moving towards decentralized governance through a Decentralized Autonomous Organization (DAO). This shift represents a significant development in the ecosystem and could affect the Shiba Inu price. However, the coin’s lower utility is making investors move to projects with real-world applications.
One of the early investors of SHIB has made a significant position in viral utility altcoins, DTX Exchange (DTX), as it prepares for an exchange listing in March. DTX ICO has entered the presale’s 8th (final) stage and is attracting huge investor interest with an expected ROI of over 100,000% following its next launch.
Shiba Inu Price Prediction: How Long Will the Downtrend Continue?
Despite the recent ecosystem developments, the Shiba Inu price has shown a highly bearish momentum. In the last 30 days, it has dropped 15%, becoming one of the top losers among large-cap coins. The Shiba Inu price has not recovered from the downtrend that started in December. Recently, it broke down strong support, falling below the $0.000020 psychological level.
The Shiba Inu price fall has extended in the recent market correction, sliding down to the #17 position. On the weekly timeframe, the Shiba Inu price has formed a double top pattern, which is a bearish reversal pattern. This formation has a neckline at $0.000013, and if the downtrend persists, SHIB might drop to this support level.
Source: CoinMarketCap
On the contrary, if the Shiba Inu price forms a reversal base here and attempts to ascend, two major resistance levels would be – $0.000020 and $0.000022. Also, the short-term 50-day moving average will act as a crucial barrier, which needs to be clear to confirm the uptrend.
Further, SHIBBURN’s latest data shows an 89% drop in Shiba Inu’s burn rate over the past 24 hours, which is disappointing. The community-driven burn projects seek to lower the token’s circulating quantity, raising its long-term value. The overall sentiment around the Shiba Inu price remains mildly bearish, and high volatility is expected in the coming days.
DTX Exchange: the Next 100x Altcoin
DTX Exchange (DTX) is on its way to becoming the next major altcoin. Its innovative hybrid blockchain technology is transforming the entire trading sector. DTX is the first exchange that beautifully integrates features of both centralized and decentralized exchanges to provide the most efficient trading ecosystem.
One problem in the traditional trading ecosystem is that traders have to switch from one platform to another to trade different markets. However, the layer-1 hybrid protocol allows DTX Exchange users to access 120,000 tradable instruments, such as forex, stocks, crypto, ETFs, and CFDs, in a unified platform. This approach helps to keep finances in one place and well managed.
The proprietary VulcanX blockchain of DTX Exchange provides 200,000 TPS, beating major altcoins like Solana and Ethereum. This increases trading efficiency to another level, with an order execution speed of 0.04 seconds and a significant reduction in slippage cost.
But that’s not all. DTX Exchange offers incredible trading features, such as 1,000x leverage, distributed liquidity pools, advanced analytics, and AI and ML risk management strategies. Due to these exceptional offerings, DTX has rapidly ranked among the best altcoins, with its ability to perform exceptionally well and a strong user base in the DeFi market.
According to various industry experts, the current price of $0.16, in the final stage, is being considered highly undervalued as DTX’s fundamental growth shows a potential 10,000% surge as it launches tier-1 exchanges like Binance and Coinbase.
Find out more information about DTX Exchange (DTX) by visiting the links below:
