The meme ecosystem took a dive, part of a broader market decline. Top memes like Dogecoin (DOGE) and Shiba Inu (SHIB) swung low, with fear of further decline thick in the air. Will this be the last downturn before an up-only trend?
Meanwhile, sentiment shifts toward DTX Exchange (DTX), a new exchange-based token. Poised to shake up the crypto scene and the broader financial landscape through its hybrid exchange protocol, it has been hailed as the next big thing.
What you'll learn 👉
DTX Exchange (DTX): Primed to Become Crypto’s Biggest Breakout Star
DTX Exchange (DTX), a new exchange-based token set to rival established players, is set to be the biggest breakout star this year. Its unique narrative is a hybrid exchange platform that combines the best elements of centralized and decentralized exchanges.
The above gives it a competitive edge in the crypto landscape. Meanwhile, it aims to bridge the gap between DeFi and TradFi, making it a strong contender in the $10 billion global trading market. Its upcoming Layer-1 blockchain is designed to integrate financial instruments with Web3 products, allowing trading of diverse asset classes.
As a result, the presale selling out fast isn’t surprising, having recently entered the third ICO round after hitting the $2 million fundraising milestone. Investors have been scoping it up at $0.06 before it jumps to $0.08—a low entry point. Meanwhile, a 55x upswing is projected after its launch, making it a more compelling way to position for gains ahead of SHIB or DOGE.
Dogecoin (DOGE): A Bounceback is on the Horizon
Dogecoin (DOGE), popularly known as the OG of memes, is the first fun-themed cryptocurrency. It started as a joke in 2013 and, in an exciting twist of fate, became the hottest crypto narrative. Other sub-narratives have emerged since animal memecoins, notably celebrity and president memecoins.
On the market side, DOGE had a remarkable first half of the year—the same can’t be said for the second. The Dogecoin price hit its annual high after crossing $0.22 in March. However, it has been in a steep decline since then, with the recent market downturn adding to the selling pressure.
The $0.1 support has been lost—for now, at least. According to a Dogecoin price prediction, a bounceback is on the horizon, tipped for a jump past $0.15 in the coming days. This is probably the best time to dip into your funds and stack up.
Shiba Inu (SHIB): 20% Decline on the Monthly Timeframe
Shiba Inu (SHIB) is the second most popular and largest memecoin after DOGE. While it trails behind Dogecoin, it is utility-driven and its ecosystem is robust. At its heart are Shibarium, a Layer-2 scaling solution and ShibaSwap, a top DEX.
Given the above, the Shiba Inu coin is more than just a meme; it is an all-round solid cryptocurrency. Its vibrant community is another of its biggest appeals, rivaling most in the crypto space. However, as the wider meme and crypto scene plummeted, so did SHIB.
On the monthly chart, the Shiba Inu price is down by 20%—not its best month. With fear of further decline looming, investors have been shifting to other promising narratives like AI and DeFi. Nevertheless, analysts and indicators point toward a comeback, making now the best time to buy, if any.
Conclusion
With the meme ecosystem taking a big hit, Dogecoin and Shiba Inu trade downward. Meanwhile, attention has shifted to new and promising altcoins like DTX Exchange, a novel hybrid protocol aiming to reshape the global trading scene.
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