DOGE Traders See Modest Gains; Long-Term Holders Remain Confident as DTX Exchange Presale Raises $2.5M

Following the live trading announcement, DTX Exchange has attracted over 20,000 new investors, signaling strong interest in the platform.

Short-term DOGE traders saw only modest gains, while long-term traders remained confident despite recent price drops.

On-chain data revealed that short-term Dogecoin [DOGE] traders, those who traded within the past 30 days, saw only an average gain of 1.7%. This stood in stark contrast to the gains realized by long-term traders. Those who maintained their positions for a year saw their holdings decrease by an average of 20.8%.

To put this into perspective, let’s take a closer look at DOGE’s state and see if long-term investors will also enjoy profits this year.

Recently, Santiment posted an analysis that highlighted the states of different types of DOGE holders. According to the analysis, DOGE did benefit last month because of the memecoin frenzy that occurred after Tron’s SunPump launch. However, the trend has since changed.

According to CoinMarketCap, DOGE's price decreased by more than 3% in the last 24 hours. At the time of writing, Dogecoin was trading at $0.09956 with a market capitalization of over $14.5 billion.

AMBCrypto then checked IntoTheBlock’s data to find out the concentration of long-term holders. We found that despite this latest setback, the number of holders (addresses holding DOGE for more than 1 year) actually increased over the last several months.

This indicated that long-term holders remained confident in the world’s largest memecoin.

PEPE was valued at $0.007 at the time of writing, down by 4% in the last 24 hours. However, this price drop did not stop traders from flocking to the meme coin. On-chain data showed that PEPE's Network Value to Transaction (NVT) ratio soared to its highest level since the beginning of the year.

This metric, which compares PEPE's market capitalization to the value of its tokens transacted daily, reached 202, up by 494% in 24 hours. An asset's NVT ratio spike indicates that its market capitalization is increasing faster than the volume of transactions on its network, signaling that the asset is overvalued and the current market conditions do not support such movements.

The rapid increase in PEPE's NVT ratio over the past 24 hours suggests market speculation, especially considering that the price surge came after a whale withdrew over $28 million worth of tokens from an exchange.

DTX Exchange (DTX) is one of the hottest presales as per some analysts. It has already raised over $2.5M and could hit $3M before the end of next week. The recent L1 blockchain launch of the DTX Exchange is boosting this performance.

This L1 blockchain will serve as the foundation for a trading platform that Crypto Chino claims could be one of the best. They say this because DTX Exchange brings something new – a hybrid trading model that combines the best of both CEX and DEX.

As a result, users can buy over 120K asset classes like crypto coins, gold and stocks in one place at a 1000x leverage. Plus, DTX Exchange does not perform any sign-up KYC checks, giving all users complete privacy, which is a big advantage over its peers.

The DTX utility token will power this platform, and holding it will grant access to better analytics tools and smaller trading fees. It is now in Stage 3 of its presale and costs only $0.06. Those who bought it early are seeing a 300% return.

However, this price will jump to $0.08 after Stage 4 begins, and experts predict another 60x surge once a Tier-1 CEX lists it in Q3 of 2024.

Learn more:

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