A prominent crypto trader has made a bold price prediction for Lunex Network, an emerging Ethereum competitor, positioning it alongside established giants like Dogecoin and Ethereum. As interest in Dogecoin’s price continues to attract whale investors, Lunex Network is gaining attention for its innovative decentralized exchange and user-focused features. With its native $LNEX token seeing significant presale growth, experts believe Lunex Network could be poised for a major price surge, drawing comparisons to Ethereum’s earlier rise.
Dogecoin Faces Correction After October Rally
The Dogecoin price has entered a minor correction after its significant 48% rally earlier in October. As of October 23, Dogecoin has dropped over 9.5% from its peak of $0.149, which was reached only two days ago. This includes a sharp 6.5% decline in the past 24 hours, bringing Dogecoin’s price to $0.135, the lowest in a week. The pullback seems driven by profit-taking and heightened risk aversion among investors, adding to selling pressure.
Currently, Dogecoin’s 50-day EMA is closing in on its 200-day EMA, following its earlier surge this month. While a golden cross is nearing, many early investors are likely securing profits, exacerbating the ongoing decline. If the selloff persists, Dogecoin could see further downside in November, with its moving averages around $0.111 acting as potential support.
Ethereum Faces Continued Decline After $2,700 Rejection
Ethereum (ETH) has extended its decline for the third consecutive day, following a rejection at the $2,700 level on Monday. After facing resistance at its descending trendline, formed by connecting several highs since late May, the cryptocurrency dropped 4.5% through Tuesday. As of Wednesday, it continues to slide, now retesting its 50-day Exponential Moving Average (EMA) at $2,564.
While lower transaction fees, now below $2, may encourage greater network usage, traders should remain cautious. Data from the Coinbase Premium Index points to weak institutional demand. If Ethereum falls and closes below the 50-day EMA, the price could retreat further, targeting the daily support level of around $2,461. This has prompted many Ethereum holders to shift to Lunex Network for potential opportunities.
Lunex Network’s Path to $1 and Beyond
Lunex Network is emerging as a formidable competitor to Ethereum, and traders are making bold predictions about its price potential. This hybrid cross-sectional exchange allows users to trade over 50,000 assets rapidly and with minimal fees. One of the most attractive aspects of Lunex Network is the elimination of KYC protocols, which appeals to traders who prioritize privacy and a hassle-free trading experience. This focus on user experience positions Lunex Network as a strong alternative to Ethereum-based platforms.
Moreover, Lunex Network has eliminated the need for third-party wallets like PhantomWallet, mitigating the risks often associated with wallet integration. The platform leverages a deep liquidity pool to ensure tight spreads and zero slippage during transactions, offering fast and efficient trading that traditional DEXes often struggle to match. Coupled with its revenue-sharing model, Lunex Network is set to disrupt the competitive landscape of crypto exchanges.
Currently, $LNEX tokens are available for just $0.0017 in stage 4 of its presale. Analysts are optimistic, predicting that this project could achieve a staggering 1,000x return post-launch. Early investors in the $LNEX community stand to gain significantly, with market experts hinting at an incredible 1,800% rally by the end of 2024. This places Lunex Network in an ideal position to capitalize on the upcoming bull market, with some speculating that the altcoin could reach $1 soon.
As Lunex Network continues to develop and gain traction, its unique features, and deflationary tokenomics could ensure long-term value appreciation. Join the pool of $LNEX early backers today.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
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