Iran’s attack on the Israeli military bases has escalated tensions between Iran and Israel, adding fuel to the fire of an impending third World War. These tensions have had a massive impact on the crypto landscape, causing a crash in the meme coin rally.
The market sentiment has changed from optimism surrounding PEPE and BONK to pessimism taking the lead. On-chain data shows a massive decrease in the market shares of these meme coins, while the emerging DeFi star- DTX Exchange- soars exponentially, unaffected by the market sentiment.
PEPE Price Plunges 9%
The PEPE price seemed to be rebounding from the sustained downtrend, as the bulls capitalized on the $0.000006550 support to push the price of PEPE, according to data from GeckoTerminal. However, the recent escalation in the Iran-Israel conflict has stirred a wave of downtrend for the meme coin.
The PEPE price plunged 10% in the last 24 hours to trade at $0.059721. Though there is a surge in trading volume that soared 78% to $3.4 billion, the bullish momentum for the meme coin seems to have ceased to exist.
However, the price of PEPE still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the likelihood that the price of PEPE could still be on a bullish stance, the Middle East tensions have ended the meme coin rally in general.
BONK Plummets By 6%: Bears Take Lead Of The Price
Bonk (BONK), like other meme coins, has exploded in popularity, thanks to its strong community backing and viral potential. Initially seen as just another speculative token, Bonk (BONK) has surprised many by delivering significant returns to early investors.
Much like Pepecoin (PEPE) before it, Bonk (BONK) is capitalizing on the meme-coin phenomenon, where coins with strong community support can achieve meteoric rises in value. The impending meme coin rally was seen as a huge step forward for BONK, causing a major breakout in its momentum. However, the situation seems to have changed.
The current sees a major dip of over 6% in the BONK’s price. This followed the uncertainty surrounding the market after the increased risk of war and the Iran-Israel tensions. Bears have taken hold of the BONK market actions, ending the hopes of a potential rally for the meme coin.
DTX Exchange (DTX): The Token To Watch Out In This Bull Run!
DTX Exchange (DTX) is a utility-backed cryptocurrency with tangible real-world applications. Its appeal revolves around a hybrid Layer-1 blockchain that incorporates traditional financial instruments with cryptocurrencies. Further, it combines the best elements of CEX and DEX, topping meme coins like PEPE and BONK.
In contrast to traditional trading platforms, DTX will act as a link between DeFi and TradFi. Thousands of asset types, including equities, bonds, ETFs, commodities, cryptocurrencies, and tokenized financial instruments, will be available to users. With a 1,000x leverage, customers can optimize their gains, positioning it as a leader in the $3.2 billion worldwide trading sector.
In the third round of the ICO, the token is priced at $0.06, making it both affordable and highly promising. Prominent analysts predict a 70x increase in value following the listing, with initial funding having already surpassed $3.5 million. This is perhaps the finest cryptocurrency to buy if investors want to take advantage of Q4's upsurge.
Key Takeaways
DTX Exchange has become such a force in the crypto space which remains unaffected by the market volatility. The DeFi token soars past $3.4 million with an ever-increasing demand! While the meme coins slump amid the Iran-Israel tensions, DTX Exchange becomes the most suitable investment option!
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