DOGE and BONK, the kings of meme coins, are in the mainstream news spotlight this week following the announcement of Bitwise’s filing for an Exchange Traded Fund (ETF) with the U.S. SEC.
While Dogecoin price posted contractions over the last seven (-9.7%) and fourteen (-8.8%) days, a bounce back might be in store for DOGE, with its most bullish holders hoping for a jump to $1 in the event of bullish market activity. BONK is struggling in this session with the wider market volatility.
Meanwhile, as the Dogecoin price braces for a change in direction and for new price gains in the coming weeks, a young crypto star is gaining attention— DTX Exchange. Can BONK rally in this bull run? What’s the latest with Dogecoin’s price updates and DOGE price prediction talks? Why are investors rushing to DTX Exchange? Let’s explore.
Dogecoin Price Analysis: DOGE To Hit $1 As Bitwise Files For ETF
Dogecoin’s price trades at $0.3324, around 3x less than the highly desirable $1 target many DOGE holders covet. While Dogecoin price has successfully managed to hold onto its spot as the top dog in the meme coin world—with a market capitalization of over $48 billion which eclipses all others in the meme crypto category—Dogecoin price was not exempt from this week’s crypto market dip.
DOGE experienced a 9.7% price contraction this week, which delayed the ascent to higher Dogecoin price levels above $0.4, a price level it recently breached for a brief period on January 18th.
While DOGE has been hit with a minor price setback, its overall growth number over the last year remains strong. Dogecoin’s price has grown by more than 317% in the last twelve months. Dogecoin observers remain optimistic, citing Bitwise’s recent DOGE ETF filing as a sign of greater mainstream interest in the grandfather of all meme coins.
However, Dogecoin price’s technical indicators, according to TradingView analytics, paint a mixed picture with Oscillators pointing to “Buy” action while Moving Averages indicate “Sell”. With a Relative strength index of 42.9, Dogecoin price remains in neutral territory, highlighting the current “wait and see” activity in the crypto market following the recent market dip.
BONK: The Solana Meme Coin Struggles For Stability
BONK has no more luck than other meme coins in this slump, having seen a steep 23% decline in the last month. BONK made waves as the first Solana-based dog-themed meme coin, capturing attention with its community-focused airdrops, though its lack of utility has hampered BONK’s trajectory.
BONK’s challenges stem from a lack of significant updates in recent months. While its initial hype was driven by widespread adoption among Solana users, the project hasn’t delivered new features to sustain momentum. On-chain analysis shows that whale activity has decreased, with large holders trimming their positions.
Although BONK’s community remains active, the absence of roadmap updates or partnerships has left investors searching for alternatives like DTX Exchange. Analysts suggest BONK could face a sharp ascent following the ETF approval.
DTX Exchange: A New Paradigm In Crypto Trading
DTX Exchange is revolutionizing the world of crypto by bridging the gap between the traditional finance community and the world of digital assets. As the first crypto-native exchange to offer trading on stocks, forex, ETFs, and over 120,000 currency pairs, DTX is opening doors for what can be done with a crypto project.
The innovative strategy of the platform is evident in its remarkable fundraising journey. In its 8th and last presale phase, DTX has raised a staggering $13.2 million, with the token trading at $0.16 currently. Investors are rushing to invest before the price increases to $0.20 at the listing, anticipating the possibility of making substantial profits.
What sets DTX apart is its commitment to providing unparalleled leverage and liquidity. With leverage potential of up to 1000x, even retail investors have access to huge trading capacity. Such financial democratization is also one of the reasons for the switch from meme coins like DOGE and BONK to more versatile platforms.
Key Takeaways
Due to cutthroat competition amongst DOGE, BONK, and DTX, analysts have questions about which of these coins will see the highest price increases upon ETF clearance. The Dogecoin price, BONK’s momentum, and DTX’s value will undoubtedly soar.
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