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It was an exciting week in crypto and a big win for the industry as Donald Trump, the pro-crypto presidential candidate, was announced as the winner of the US election. Unsurprisingly, the market exploded, Bitcoin and altcoins alike. Dogecoin (DOGE) and Solana (SOL) hit month-highs, with sights set on further upswings.
At the same time, DTX Exchange (DTX), an emerging cryptocurrency, skyrocketed. It soared past $6.8 million in early funding, fueled by rising retail and whale demand. Behind its uptick is its hybrid approach to trading—a blend of CEX and DEX—and significant upside potential.
DTX Exchange (DTX), a novel token at the crossroads between TradFi and DeFi, basks in the spotlight. Its explosive growth in presale can be linked to its novelty as a hybrid trading platform and huge growth prospects. Primed for adoption, it is one of the new DeFi projects to keep on the radar.
It will take a unique approach to trading by building a one-stop platform for all trading needs. Users will be able to trade diverse asset classes across crypto and traditional finance. Its unified blockchain will integrate conventional financial instruments with Web3 products. Other features like 1,000x leverage and trading bots will make it a strong contender in the $10 billion global trading space.
On the cusp of massive adoption, investors have been flocking in droves to the presale. Moreover, it is heavily discounted at $0.08 in the fourth ICO round, tipped for a 45x rally after listing on Tier-1 exchanges. Aiming to challenge the dominance of Dogecoin (DOGE) and Solana (SOL), this is a new altcoin to watch out for.
The meme sector outperformed the crypto market this week and leading this charge is Dogecoin (DOGE). The dog-themed cryptocurrency is a top ten cryptocurrency and is at the forefront of the memecoin movement. It had one of its best performances in recent times this week.
Following a burst of momentum, the Dogecoin price touched $0.21, a month high. This level was also last seen in April, aiming to reclaim its March high of $0.22. With an 85% rally on the monthly chart, Dogecoin (DOGE) has been one of the best-performing altcoins this quarter—a top crypto to invest in.
Further upswings are anticipated, with a top analyst suggesting another leg up toward $0.24 and $0.27. Moreover, TradingView's volume weighted moving average (20) is at 0.16399 and the Hull moving average (9) is at 0.18990, both bullish signals.
Solana (SOL) shone brightly this week—one of the biggest daily candles. The Layer-1 token skyrocketed following the announcement of Trump as the US president, also driven by the rekindled interest in memecoins.
Outperforming most top altcoins, the Solana price crossed $190—an 8% uptick on the weekly chart. This level, last seen in April, might be the start of a rally toward a new all-time high. It charts an upward course, with indicators like the MACD level (12, 26), currently at 6.02, suggesting further upsides.
Meanwhile, a crypto trader and analyst project a run between $500 and $1,000 for Solana (SOL) in the coming months and flipping Ethereum (ETH). Given recent performance, this isn’t ambitious, with SOL positioned among the best cryptos to invest in.
Solana (SOL) and Dogecoin (DOGE) are on track for further upsides, aiming to build on their already impressive performances. Meanwhile, DTX Exchange (DTX) approaches its much-anticipated debut following its explosive growth in presale.
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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.
