.png){kind=logo}
In the recent market crash, many altcoins experienced significant declines, dropping to notably low levels. Solana (SOL) and Dogecoin (DOGE) led the decliners amid market turbulence, with their investors shifting to promising investment avenues for massive gains.
Solana (SOL) has faced a massive decline, witnessing its price dropping from $202 to $130 in April. The initial decline was followed by congestion issues on the network with failed transactions due to spam bots being deployed on the chain. This led to a decline in user activity on the Solana blockchain.
While the community hopes were high about Solana rebounding with the v1.17.31 update to tackle congestion issues which were evident in the recent meme rally, Solana has failed to fulfill those expectations. Analysts are speculating a long-term downtrend for SOL tokens particularly due to recent price corrections mainly since April 10th.
SOL is now trading at $129, dipping to its lowest price level in two weeks. The decline of 24.8% over a seven-day timeframe has also coincided with a dip in the U.S. stock market and ongoing complications in the Middle East, fueling concerns of further price drops for SOL in the upcoming days.
Dogecoin (DOGE), a prominent meme coin has led investors to lose millions in the recent price crash, experiencing a 21.9% decline on the weekly chart. Despite gaining market traction after Elon Musk's tweet, the meme coin still shows a 3% decline on the intraday chart with a declining market cap.
Currently trading at $0.148, DOGE's price charts are showing signs of further decline. The next crucial support level is projected to be around $0.1450. A downside break below this support level could lead the price towards the $0.120 level. Due to increasing speculations, investors hesitate to invest in the DOGE token due to its utter hype dependency.
With Solana and Dogecoin showing all red charts, investors have shifted their focus to DTX Exchange. The project is currently in its presale stage 1 and has explosive potential, as its native token is ready to hit the market in Q2 of 2024.
DTX Exchange (DTX) offers unique trading propositions to investors and traders, empowering them to trade from higher positions through its mega 1000x leverage feature.
Using the DTX hybrid tradFi platform, users can acquire the best features of CEX and DEX with robust security and accessible trading.
The platform provides crucial support to new traders with no KYC requirements so they can enter the trade without the fear of the compromisation of digital assets. The platform utilizes decentralized security, providing multi-tier accounts and non-custodial wallets so holders have full access to their forex, crypto, equities, and contract-for-difference (CFD) assets.
Demonstrating remarkable performance in 2024, DTX Exchange is set to transform the deFi space. After the project raised a mind-blowing $230k in ongoing presale stage 1 within days, investors are rushing to be a part of the project at a presale price of $0.02. According to insiders, this price can moonshot to $2 once the project gets listed on significant exchanges in Q2 of 2024.
Learn more:
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
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.
