Whales shift $1.44M to DTX Exchange, causing Binance Coin (BNB) and Shiba Inu (SHIB) prices to nosedive ahead of Q4 launch.
Binance Coin (BNB) and Shiba Inu (SHIB) prices have dropped recently as whales moved $1.44 million worth of funds from these tokens into the DTX Exchange (DTX) ahead of its anticipated launch in the fourth quarter of this year.
With its presale raising over $3.5 million, the increasing investor interest in DTX Exchange indicates a potential shift in the cryptocurrency landscape. Here’s why:
Binance Coin (BNB) Faces Key Resistance After Sharp Decline: Can Bulls Rebound?
Binance Coin (BNB) recently faced a rejection near the $620 zone, forming a high at $618 before starting a downside correction. The price dropped 9.6% over the past week, falling below key support levels at $600, $590, and even $580, eventually bottoming out at $564.
However, bulls re-entered around $565, pushing the price back up above $570. Currently, Binance Coin (BNB) is edging towards the 23.6% Fibonacci retracement level but remains under $585 and the 100-hourly simple moving average.
Despite a slight recovery, BNB’s price continues to struggle with resistance at $580 and $585. The prevailing trend remains bearish, mirroring the broader market's volatility. Nevertheless, there is potential for bullish momentum to test these resistance barriers in the near future.
Whales Inject $1.44M into DTX: A Game-Changer for Q4 and Beyond
Whales have already moved $1.44 million into DTX Exchange ahead of its anticipated launch in Q4, with its array of advanced trading tools and premium features being the major draw cards; on-chain analytics, copy trading and trading bots allow users to get a leg up on the choppy markets, while also getting access to enhanced analytics and other exclusive services.
Moreover, the DTX Exchange's (DTX) ecosystem provides a feature similar to governance, and users can vote on
various issues to shape the future direction of the platform. Participating in decision making
raises the value that can be derived from holding various DTX tokens. Users enhance their token holdings by actively taking part in the platform.
With its mainnet already launched and a dedicated team of developers, DTX Exchange is committed to delivering real-world solutions. The platform's utility is continually expanding, with future partnerships, staking options, and new exchange services on the horizon. It’s no wonder that DTX Exchange is attracting significant attention from major investors.
Shiba Inu Eyes Breakout After Pullback: Can SHIB Surpass Key Resistance?
Shiba Inu (SHIB) is currently experiencing a pullback after a strong performance last week, with its price sliding by over 5% in the last seven days. Despite this dip, there is a strong support level at $0.000014, hinting at a potential price recovery. Yet, the $0.000020 resistance has proven to be a tough barrier, as bears successfully halted a breakout attempt towards the end of September
This week, sellers have dominated the market, accounting for four out of seven days of trading volume. The volatile nature of Shiba Inu has been exacerbated by the escalating conflict in the Middle East, which has notably influenced the token's price and prompted whale investors to seek refuge in safer alternatives such as DTX Exchange.
DTX Rises as BNB and Shiba Stumble: Why It's the Better Choice
While Binance Coin (BNB) and Shiba Inu (SHIB) have been popular in the crypto world, both tokens are currently facing challenges. BNB has recently struggled to overcome resistance at $620, while SHIB is attempting to break through the $0.000020 resistance level.
In contrast, DTX Exchange (DTX) is experiencing a surge, having raised $3.5 million in its presale.. By combining practicality with cutting-edge trading options, DTX stands out as an attractive investment opportunity, particularly with its innovative ecosystem and its mainnet now operational.
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