While inexperienced investors fear market corrections, experienced investors see it as an opportunity to buy coins with good fundamentals and momentum. An analyst from Grayscale, a leading crypto asset manager, has revealed his top tips for adding available tokens at a discount.
The analyst noted that memecoins still have room to grow; He believes that Dogecoin (DOGE) and PEPE could rise sharply in the next breakout. The emerging altcoin DTX exchange also took center stage with its high growth prospects and presale momentum.
Dogecoin (DOGE) Corrects Local Support, Buying Opportunity Declines?
Dogecoin (DOGE) is ranked 7th in the cryptocurrency market and is a standout player among its peers. It is also one of the frontrunners of the current bull market, posting triple-digit returns in just a few days of the rally. However, Dogecoin (DOGE) has underperformed over the past 30 days and slipped below the psychological level of $0.40.
The Relative Strength Index (RSI) signals a warning as it fell from the overbought zone to the 51 level in a single day. On Sunday, Dogecoin (DOGE) formed a higher high, but the RSI failed to follow this trend, resulting in a bearish divergence. Experts recommend a cautious approach to a long-term plan, but Dogecoin (DOGE) can be an excellent target for swing and position traders.
Pepe positions itself in the top 20 and overtakes Uniswap
Pepe, the newly launched memecoin, has entered the top 20 cryptocurrencies by market capitalization. Its market value has risen to over $11 billion, briefly surpassing Uniswap, which was previously ranked 20th. This achievement represents an impressive 18-fold jump from Pepe’s valuation of $591 million at the start of the year.
Memecoins like Dogecoin (DOGE) have performed strongly in the current bull market and have reached multi-year highs; Pepe Coin has followed suit, gaining momentum and rising over 100% since breaking out in November.
In the last 24 hours, PEPE is down 5.7%, 22% below its weekly high. This correction has allowed investors to buy Pepecoin at a reduced price as it is currently trading near short-term support.
DTX Exchange ICO Goes Viral as Profits Cross 500 Percent Mark
DTX Exchange has gone viral in the crypto community, rising 500% from its first stage price of $0.02 to its current sixth stage price of $0.12. Designed as a hybrid exchange network, it enables peer-to-peer trading, reducing the possibility of hacking incidents and increasing order flow due to its global reach.
The DTX Exchange (DTX) is a trader-centric platform with advanced solutions to practical problems that traders face with a traditional platform. This platform is a one-stop trading destination with diverse trading options and remarkable leverage. Traders have access to various markets such as stocks, forex, cryptocurrencies, etc. through a single unified platform, reducing costs and increasing the efficiency of multi-asset traders.
Additionally, it offers a proprietary internal storage, Phoenix Wallet, which offers seamless transactions and crypto lending feature at a very low cost. This wallet has various security features such as cold storage and 2-factor authentication that protect users from theft.
As one of the largest ICOs in 2024, DTX Exchange has attracted major players from the crypto market. The token presale raised $10.1 million in less than two months after launch, showing high demand.
DTX Exchange is at the top of Grayscale analyst’s priority list, predicting a 100x ROI post-listing. In addition to its outstanding features, the need for a potential player in the DeFi space makes it a solid investment opportunity.
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