Shiba Inu and XRP Holders Buy This Altcoin That’s Up 700% As Crypto Market Drops Hard
The post Shiba Inu and XRP Holders Buy This Altcoin That’s Up 700% As Crypto Market Drops Hard appeared first on Coinpedia Fintech News
The crypto market is facing its biggest correction of the year, with many top crypto coins down double digits. Shiba Inu (SHIB) and Ripple (XRP) are two of the top altcoins facing steep declines, losing more than 21% and 14%, respectively.
As a result of the decline, holders of SHIB and XRP looking for other bullish alternatives have been buying the DTX Exchange (DTX) coin. $DTX is up by 700%, surging to $0.16 as its exchange trading platform looks to transform the crypto trading landscape with multi-asset support.
Shiba Inu (SHIB) Dips Hard, Risks Losing Key Support
Like many top memecoins, Shiba Inu (SHIB) is one of the top losers in the recent crypto market dip. Data from CoinMarketCap shows that the Shiba Inu price has dropped by more than 21% on the weekly timeframe. As a result of the sharp price decline, the value of $SHIB is now hovering around the $0.0001800 support level.
A drop below this level could mark a huge decline for the Shiba Inu coin. The popular crypto analyst and Shiba Inu activist, Shib Spain, has said that the memecoin is consolidating around this level. CryptoELlTES shares a similar sentiment, saying that the price of the memecoin could reach $0.000085171 soon. However, losing the $0.00001800 support could lead to a decline to $0.00001500 for the Shiba Inu token.
Ripple (XRP) Dips Below $3, Where Will Price Go From Here?
After its breakout rally to $3.4 in mid-January, the Ripple coin price has been on a freefall. Data from CoinMarketCap shows that the price of Ripple (XRP) has dropped back to $2.80, leaving investors to wonder where it will go next. The crypto analyst, Coinvo, has said that $XRP is pulling off the classic break and retest pattern.
As long as it holds the range between $2.8 and $2.60 the uptrend remains intact. If this happens, then the Ripple price could bounce back to the $3.5 range. However, a drop below this key range could signal more decline towards $2.5 and possibly back to $2. However, a major Ripple news that could serve as a boost for the altcoin price to rise higher in the coming weeks is the potential launch of XRP ETFs.
DTX Exchange (DTX) Defies Bearish Market, Pumps To $0.16
While the crypto market is facing its biggest drop this year, DTX Exchange (DTX) has been surging to new highs. The DeFi coin of the DTX Exchange, $DTX, surged to $0.16 amidst this downtrend, extending its gains to 700%. DTX Exchange has been trending upwards because of the massive potential investors perceive.
DTX Exchange is the first hybrid trading platform in the crypto space with multi-market support. On the DTX Exchange, crypto traders will be able to buy, sell, and trade over 120,000 assets from the global financial markets. Anything from stocks to forex, metals, oil, ETFs, and commodities, will all be available on the DTX Exchange. The feature will be revolutionary in the crypto space and puts DTX in the $690 trillion OTC derivatives market.
Because DTX Exchange operates in a market several times bigger than crypto, analysts believe that it will continue to outperform even the best altcoins. This has contributed to DTX Exchange onboarding over 400,000 and raising $13+ million while still in presale. As the exchange prepares to launch with the biggest potential seen in years, crypto experts believe the DTX coin can surge from $0.16 to cross $1 in Q1 2025.
Why DTX Exchange Will Outperform Top Altcoins, SHIB and XRP
Shiba Inu (SHIB) and Ripple (XRP) might be two of the biggest cryptos, but they are small in comparison to the $690 trillion OTC derivatives market. With DTX Exchange being one of the most innovative DeFi projects tapping into this market, it has more growth potential than other cryptos. In addition, its smaller market cap means it can record higher gains than SHIB and XRP.
Find out more information about DTX Exchange (DTX) by visiting the links below:
