Recent market shakeups have intensified the market's bearish sentiment and affected the Shiba Inu and Cardano price. Both tokens have fallen considerably and lost their footing. With Shiba Inu fading from the spotlight because of newer and more stable meme coins, ADA is also under tremendous pressure. The downside action affecting these top altcoins has made whales and retail traders consider moving their liquidity to new coins. Interest in speculation-based meme coins like Shiba Inu is dying down as the market is taken over by utility-based tokens like DTX Exchange , which will bring the trading markets into the future with its revolutionary trading platform. Cardano (ADA) Sees Price Correction External factors like geopolitics and macroeconomic conditions have pulled the Cardano price from $1 to $0.7 this month. ADA is primed for some more bearish pressure as the Cardano price has failed to reclaim $1 for a while now. Recent data shows the Cardano price is highly volatile, and while some believe the dips are buying opportunities, others believe the Cardano price will witness deeper correction. Key market analysts say that the Cardano price should break above $0.786 to elevate levels to $0.9. ADA needs more DeFi apps and NFT projects to be developed on its ecosystem to support the ADA token and to keep the Cardano ledger growing. Network improvement will also lead to growing acceptance and increased investor confidence in Cardano (ADA). There are many questions regarding ADA’s capacity compared to competitors like Solana, and if the network works to fix these, the Cardano price might cross $1. Bears Dominate for Shiba Inu Many meme coins, especially new ones like the TRUMP coin, have been faring well, but Shiba Inu has sharply declined. Shiba Inu faces a daunting task if it wants to touch previous highs. The Shiba Inu price has bounced at a diagonal and horizontal support level, but the technical indicators are decisively bearish. Short-term predictions are not optimistic for Shiba Inu, and some analysts say there will be a short relief rally before the downturn continues. The long-term outlook is also bearish for Shiba Inu, with some recovery expected. Shiba Inu could increase to $0.00002 if it pushes through resistance at $0.0000172. The Relative Strength Index for SHIB is 30, which means the token is nearly oversold, and this is a clear indicator that selling pressure is dominant. The price trend can reverse if buying activity increases. DTX Exchange Presale Receives Tremendous Response The DTX Exchange presale is in its last stage and has raised a whopping $13.5M. The token has had a fantastic price spike from $0.02 to $0.16 and will soon be listed on tier-one exchanges at $0.2. The presale has shown excellent investor confidence in this DeFi initiative, and the DTX community is growing, with over 500,000 downloads of its digital Phoenix Wallet recorded. DTX Exchange has implemented an essential solution for the future of trading with its hybrid trading platform. It will bring fiat and crypto trading to one platform, allowing traders access to 120,000 currency pairs. The market needs this merger of centralized and decentralized exchanges as the rise of digital assets necessitates such a hybrid trading system. To know more about the DTX Exchange ecosystem, Check out: Visit Website Buy Presale Join Community Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
