The current market sentiment isn’t really favoring the memecoin sector. While Dogecoin (DOGE) was a target of yesterday’s broader market shift, Shiba Inu (SHIB) is taking the heat from investors today. On the other hand, DTX Exchange (DTX) is gaining traction as investors are flocking to its hybrid exchange to avail up to 1,000x leverage and other premium features.
Memecoin Enthusiasts Desert Shiba Inu (SHIB)
The Shiba Inu (SHIB) network is experiencing a turbulent period in the volatile crypto market. Shiba Inu (SHIB) is displaying a lack of investor support, resulting in its price struggling to break out of a narrow range. Also, its Layer2 network (Shibarium) is also declining at an alarming momentum. Also, Shiba Inu (SHIB) has dipped by 4.1% in the last 24 hours.
While the exciting origins of the Shiba Inu (SHIB) network were the center point of craze and hype for the memecoin community, its current price projection shows it stuck in the middle of nowhere. This declining sentiment around Shiba Inu (SHIB) has shifted the investor focus to other emerging projects like DTX Exchange, which has stolen the spotlight for its $4M presale.
DTX Exchange (DTX) and other memecoin projects are taking over the market sentiment and investor confidence as they offer better opportunities and short-term and long-term outcomes with premium trading options. As a result, Shiba Inu (SHIB) is losing traction and dropping to critical levels, with more bearish sentiment expected in the near term.
Market Sentiment Shift Puts Shiba Inu (SHIB) In Crisis?
Shiba Inu (SHIB) analysts are crediting the downfall in the memecoin network to several events. First off, the memecoin market has become saturated amid the influx of many new launches entering the market. Then Shiba Inu (SHIB) has its own sets of challenges within the memecoin network. These key indicators have affected the overall performance of Shiba Inu (SHIB).
Initially, Shibarium (a Layer2 network by Shiba Inu (SHIB)) was supposed to bring renewed interest to the Shiba Inu (SHIB) network by improving transaction speed and scalability. However, based on the latest analytics by ShibariumScan – Shiba Inu (SHIB) analysts have observed an alarming drop in its network activity.
Shibarium experienced a sudden decline in users after its total active accounts fell below the 500 mark, while only 33 users signed up on the platform in one day. This drastic decline has alerted the investor community, resulting in a sharp outflow for Shiba Inu (SHIB). The future outlook for Shiba Inu (SHIB) displays mixed signals as it may kick back with a possible rebound.
DTX Exchange (DTX) Soars Toward $1 Following Presale Success
DTX Exchange (DTX) is a crypto trading exchange that allows users to trade cryptos, forex, equities, and contract-for-differences (CFDs) through its cutting-edge infrastructure and lucrative trading features. DTX Exchange provides access to over 120,000 assets across crypto, stocks & bonds, and commodities.
Its technical architecture deploys the Ethereum Virtual Machine (EVM), which offers a runtime environment for executing 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 according to predefined rules.
Join This 25x AI-Crypto and Get a 25% Sign-Up Bonus!
DTX Exchange platform consists of a decentralized order book managed by smart contracts on the Ethereum blockchain. This order book records and matches buy and sell orders from investors. This approach delivers a transparent and fair order matching without needing a central authority in command.
To celebrate its major success, DTX Exchange is now offering a 25% sign-up bonus for every new user who joins the platform through the ‘DTX25’ promo code. So far, this presale powerhouse has raised $3.98 million with only days away before it completes the $4M milestone and advances to presale round 4 at $0.08 per DTX token. Join now!
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