Dogecoin (DOGE) has been one of the most promising cryptos in recent years. Since Donald Trump won the US election, DOGE’s price has multi-folded, making millionaires in this bullish cycle. While many traders missed out on low entry points in the DOGE tokens, another bullish opportunity emerges that can yield unprecedented gains during this bull run.
In this article, we’ll see how Dogecoin price performs in the ongoing market cycle and why the alternative Defi token is considered the hottest pick for December.
Bearish Trend Shows Dogecoin (DOGE) Price Action Might Be Over
Donald Trump’s election win and Elon Musk’s appointment to lead the Department of Government Efficiency has ignited a bullish fervor in the DOGE community. Elon Musk has been so active in backing Dogecoin this year as the meme coin’s price soared more than 400% over the last year, closing near its all-time high.
In the current market phase, Dogecoin (DOGE) is consolidating due to rising profit bookings after a 178% surge in a month. While new entry positions might open shortly for the memecoin, many experts say that DOGE is left with minor upside potential as it can face critical resistance at the all-time high level, signaling a mixed trend.
Source: TradingView
While Trump’s hype is not fully over, DOGE price has the potential to display a promising rally toward its all-time high if capital starts rotating out into memecoins after BTC hits $100K. On the flip side, traders must watch the $0.3 support level as selling pressures or low volume can push the Dogecoin price into a prolonged bearish phase under critical resistance levels.
DTX Exchange Becomes Alternative For Bullish 400% Returns
DTX Exchange (DTX) is one of the most in-demand cryptos of 2024 as the project aims to rule the trading sector with its advanced and innovative problem-solving approaches to age-old problems in CEX and DEX platforms. The hybrid DTX platform hosts 120k+ assets across stocks, cryptos, forex, CFDs, bonds, and equities to facilitate diverse trading for traders under a single roof.
With advanced automation, risk management tools, copy trading, merging of stocks and cryptos, and real-time analytics, DTX Exchange equips traders with powerful tools to efficiently navigate profits even in the most volatile markets. Large stakeholders get incentives for contributing liquidity to distributive liquidity pools with no slippage.
DTX Exchange has also upheld its commitment to security and individual ownership by incorporating decentralized security protocols in its all-in-one trading platform. The launch of the non-custodial “Phoenix Wallet” has crossed over 100K downloads and its KYC-free onboarding has made traders invest $8.2 million in its public presale.
DTX Exchange’s trader-centric approach is evident by the governance rights it provides to its users alongside passive income strategies and the introduction of its native hybrid layer-1 blockchain for seamless and secure trading. Traders can buy DTX tokens at $0.1 after CMC pre-listing and enjoy bullish 400% gains as its market cap targets the $1 billion mark after the most-awaited Q4 launch.
Key Takeaways
While many traders missed the Dogecoin (DOGE) early bullish entry, the current entry points might not make their profits as before. So DTX Exchange emerges as a major alternative this winter with a bullish 400% gain potential. DTX Exchange (DTX) stands out as a transformative player and it can reach a $1 billion market cap target after its most-awaited Q4 exchange listing.
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