Major tokens and midcaps suffered one of their worst days in recent months, with a sharp decline in the early Asian hours on Tuesday, even as Bitcoin (BTC) was relatively little changed. Data shows Dogecoin (DOGE) fell as much as 5% in the last 24 hours as selling pressure increased in the late US hours and intensified in the early Asian period.
The decline in DOGE has caused smart investors to switch to more profitable investments like DTX Exchange. The emerging platform reflects Dogecoin’s 2017 rally as presales reach the $10,000,000 milestone!
Dogecoin Crashes: DOGE’s Bearish Pattern Causes Concern!
Dogecoin (DOGE) experienced significant volatility on Monday and its price plunged to $0.3800 after starting the day at $0.4673. This decline largely mirrored Bitcoin’s decline, as the leading cryptocurrency re-hit its previous lows of $94,000 over the same period.
Now DOGE is trading at $0.4116, down another 5% from its starting price of $0.4336 on Tuesday, December 10th. In its overall weekly performance, Dogecoin recorded a more modest decline of 5.04%.
Bears take over Dogecoin as its total market capitalization fell 6.5%, its biggest decline since October, while the broad-based CoinDesk 20 (CD20) index fell 7%.
There was no immediate reason for the selling pressure, but it came after internet giant Google announced benchmark testing for its new quantum computing chip Willow – leading to concerns in the market about what it meant for crypto privacy and wallet security .
Market analysts and traders warned of near-term selling pressure amid an overheated market following a November rally, CoinDesk reported earlier on Monday. This is the reason for DOGE’s bearish price movements.
The decline resulted in over $1.5 billion worth of long positions or bullish bets being liquidated, the highest such figure since 2021. Altcoin futures tracked under “Other” by data provider CoinGlass led in an unusual move resulted in market losses of $560 million, with DOGE futures losing more than $70 million each.
Revolutionizing Trading: DTX Exchange Tests Dynamic Margin Systems and Raises an Incredible $10,000,000
With its advanced Defi technology and trading capabilities, DTX Exchange is transforming the TradFi market and performing significantly better than well-known trading platforms. DTX exchange offers features such as 1000x liquidity and advanced automation to help traders benefit from bullish profits from larger market positions.
DTX is currently evaluating the backend risk engine to ensure it dynamically monitors margin levels for high-leverage trades. In the coming sessions, DTX will continue to stress test the dynamic margin systems given the high volatility. Several scenarios, including price reductions of 5% under high leverage market conditions and changes to the required margin, are being evaluated to automatically manage systemic risks.
The Layer 1 protocol is trending in the crypto community as the company has introduced ETF trading in its hybrid protocol. In addition to the strong momentum in pre-sales, the exchange is also gaining popularity with the launch of the first-ever hybrid exchange, allowing trading of over 120,000 assets including ETFs, stocks, cryptocurrencies, forex, etc.
The platform leverages its proprietary VulcanX blockchain technology to enable lightning-fast and embedded AI order execution, reducing errors and increasing efficiency. The VulcanX protocol also minimizes the platform’s trading fees, thereby increasing traders’ profitability.
As the DTX token presale is about to start, demand has been steadily increasing. Experts believe that DTX could start at around $0.20, up from the current price of $0.12, which could offer new investors a chance for quick profits. DTX has raised a huge amount of $10,000,000 in the sixth presale phase.
Key insights
As DOGE falls after huge gains, DTX Exchange repeats Dogecoin’s 2017 run as investors continue to join the DTX presale frenzy and raise a massive $10,000,000.
Learn more:
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