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Memecoins have outperformed the wider crypto market this cycle, with investors making life-changing gains over the last year. Dogwifhat had been showing incredible strength recently with a surge in price until the crypto price across the market crashed heavily on Monday. With that being said Shiba Inu has yet to reverse its downtrend and many holders are throwing in the towel.
Investors are also looking to invest in a new exchange token, Pullix (PLX) set to make astonishing gains as the exchange launches this month. Here’s why it's being tipped as one of the hottest launches of 2024.
Dogwifhat recently spooked investors with a drop below key support at $2 after the entire crypto market saw a huge slash. Dogwifhat holders are now holding tokens in search of a recoup on losses they made this past week.
With that being said Dogwifhat trading volume has been strong and many analysts expect to see Dogwifhat surpass the $5 level before long. During this surge, the meme coins market cap could double from $2.5 billion to $5 billion. Support at $1.6 has so far held strong but may be tested again. Soon, investors will have the chance to buy memecoins like dogwifhat with low fees on the Pullix exchange.
Shiba Inu is facing massive selling pressure as its downtrend continues. A recent uptick in 90-day dormant circulation has sent SHIB below $0.000017, as Shiba Inu holders cut their losses.
Shiba Inu holders find themselves down 36% in 3 months, causing its market cap to drop to $10 billion. Shiba Inu bulls will need to step in soon with force to stem the bleeding, though investors looking to buy the Shiba Inu dip will soon be able to do so via Pullix, which is set for release in the upcoming weeks.
Pullix has caught the attention of investors who are looking for projects with untapped potential. It separates itself from its competitors thanks to its wide array of features and novel exchange framework.
Pullix merges the best aspects of centralized and decentralized exchanges, offering users a seamless and intuitive experience. At the top of the priority list are security and user trust.
For this reason Pullix has implemented the most advanced security protocols available on centralized exchanges. At the same time, it emphasizes the importance of users having non-negotiable control over their assets.
On the platform, users can trade over 100 different assets, ranging from shares, options, commodities, and cryptocurrencies, including Ripple and FET.
The key element of the Pullix platform is the native token PLX. PLX is an asset that investors can trade, hold, and stake. It also acts as a governance tool, democratizing Pullix’s future development.
PLX is crucial in the platform's revenue-share mechanism, one of Pullix’s star features. The exchange will buy back PLX tokens on the open market by investing a portion of the daily profits. 50% of this amount will be burned, reducing total supply and priming PLX for further growth, while the other 50% will be redistributed to holders.
PLX has shown impressive resilience during the recent market downturn increasing in value to $0.011 and it’s primed to soar during the next market rally.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
