Shiba Inu (SHIB) and PEPE continue to trade within a narrow range as the market eagerly watches the latest developments in the crypto world. Notably, the DTX exchange has successfully crossed $2 million raised in its ongoing presale, with each token currently priced at $0.06.
This article will delve into the price movements of SHIB and PEPE, and explore why DTX Exchange is making waves in its presale phase.
Shiba Inu (SHIB) Remains Rangebound Despite Minor Gains
Shiba Inu (SHIB) weekly trend is down by 7.64% and the ranged-trend also continued in the monthly time frame between $0.44 and $0.0000135.
The Exponential Moving Average (EMA) presents a bearish outlook for Shiba Inu (SHIB), indicated by the “Sell” sign displayed on the technical indicator that the price is trending downwards. The EMA is a lagging indicator that emphasizes the buying or selling pressure over a specified number of periods and hence, it is approaching the current price.
Although it sees some fluctuations within this tight trading band, Shiba Inu (SHIB) has been unable to break through this range. The current price action in the market is one of indecision: bulls and bears are unsure about the future direction of SHIB and their indecision prevents the price of Shiba Inu (SHIB) from moving out of a narrow trading band.
Weekly Analysis: PEPE’s Bearish Trend and Declining Price Movement
The past week marked a major decline for PEPE, with the price dropping by 14%. Commencing the week at $0.0000099, the token steadily declined to hit new lows. By the week’s close, it had dropped even further to $0.00000757 before experiencing a slight uptick to end at $0.00000780.
The direction was bearish as price attempts to pick up support on a wider downtrend movement making it a horrible week for the token.
According to technical analysis from the Exponential Moving Average, the trend for PEPE is bearish, as the colored bar recommends the “Sell” call action due to the selling pressure and declines on PEPE during the past month, resulting in a big percentage drop of 31.36% reported by the EMA (50).
DTX Exchange Surges Past $2 Million Milestone as Shiba Inu and PEPE Remain Stagnant
DTX Exchange has attracted more than $2 million in capital since launching due to exceptional user activity and token utility, while meme coins such as Shiba Inu and PEPE still float rangebound. By participating in the presale, new investors enjoy several benefits on the exchange.
Token holders get discounted trading fees, encouraging participation and reducing transaction costs; holding DTX Tokens also unbuckles premium features (advanced analytics, priority customer support) that encourage users to acquire a share of the platform.
Additionally, DTX Exchange recently went live with its testnet – a key milestone on its route to the site’s full release. Within a simulation mirroring the full experience, users can test out features in a live environment such as trading activities, exchange functionalities or token usages and trade.
In this context, it’s no surprise that those projects offering actual utility – such as DTX Exchange – will tap into greater appeal than the more speculative nature of the meme coin.
Key Takeaways: DTX Exchange surpasses $2 million raised, driven by strong token utility, including discounted fees and premium access. In contrast, Shiba Inu (SHIB) and PEPE remain rangebound, reflecting market indecision.
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Source: https://www.crypto-news-flash.com/shiba-inu-and-pepe-stay-rangebound-as-dtx-exchange-crosses-2-million-raised/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-and-pepe-stay-rangebound-as-dtx-exchange-crosses-2-million-raised