Bitcoin has touched an all-time high, and other altcoins have also gained momentum, starting the bull rally. DOGE price has outperformed, nearing triple-digit gains in the last month, while the $1 target is still far away.
However, compared to other altcoins like Ripple (XRP) and Cardano (ADA), Dogecoin (DOGE) has performed really well.
We will discuss the profit target of the DOGE price of the current rally, as well as the price action around the XRP price and Cardano (ADA). We will also investigate a small market cap coin, DTX Exchange (DTX), ahead of most altcoins regarding percentage gains.
DOGE Price Eyes 52-Weeks High After Surpassing $0.2
DOGE price has shown great relative strength, rising nearly 16% in the last seven days. This rally in Dogecoin is because of the Presidential election catalyst and mentions by Elon Musk. The first target for the DOGE price is to clear the 52-week high of $0.228, followed by the next major barrier at the Fibonacci extension of 1.618 at the price of $0.265.
In the short term, the DOGE price can return to the immediate support level of $0.176 and a 10-day moving average. The current upleg is the third swing of the rally, and we might see some consolidation before going up.
Ripple (XRP) Trades Above 10-Day Moving Average
XRP has formed a double-bottom reversal pattern and has given the neckline breakout above $0.53. However, the XRP price is still weak, so following through on the breakout is very important. With the last 48-hour move, Ripple has stabilized itself above 10 DMA, which is a good sign for a short-term trend and reversal. This bounce occurred after the Ripple price reached the lower support zone of its channel pattern. Despite the bullish action, Ripple reaching $1 is not achievable in the short term.
Cardano (ADA) Transaction Volume Increases While Price Showing Sluggishness
In October, Cardano (ADA) hit a major milestone with a big surge in transaction volume. Reports show record-high transactions on the network, highlighting the growing interest in the Cardano ecosystem. This increase points to the Cardano (ADA) potential to become a major player in blockchain as it expands its ecosystem and attracts more users and projects.
During this development, Cardano (ADA) has been unable to overcome local resistance in the raging bull market. After the recent failed breakout, Cardano (ADA) is still trading around the yearly low.
Investors Shifting Towards DTX Exchange (DTX) For 250X Return
Traders have booked some of their profits in Dogecoin and also negative positions from Ripple and Cardano and shifted to the emerging hybrid platform – DTX Exchange. According to early investors of Dogecoin, DTX can replicate the gains of the memecoin leader, surging 250X from the current level.
DTX Exchange is known for the VulcanX L1 blockchain, which is the most reliable and highly efficient for active traders. It increases the exchange’s speed above 0.4ms and also reduces traders’ fees. Recently, DTX launched the testnet, which achieved a speed of 10,000 transactions per second, breaking the previous records.
DTX Exchange provides more than 120k trading instruments for traders in different assets like cryptocurrency, shares, forex, etc. It also provides advanced trading tools and highly secured wallets, saving users from digital hacks.
DTX Exchange is currently in the fourth stage of the presale, and each DTX token costs $0.08. DTX is a strong long-term contender, set to deliver impressive performance as the crypto market gears up for the bull cycle.
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