Discover altcoins. Lunex Network aims to outperform Dogecoin and Shiba Inu in the current market conditions.
In what looks like a bearish start to October for cryptocurrencies, Dogecoin and Shiba Inu Coin have recorded sharp declines, erasing significant gains. Meanwhile, the pre-sale of Lunex Network (LNEX) has been flooded with investor interest due to its hybrid cross-chain exchange. Analysts now believe that this new altcoin has the potential to topple SHIB and DOGE in the next bull market. Let’s see why!
Lunex Network, DeFi crypto and swap exchange platform with revenue sharing model
The Lunex network protocol stands out due to its unique cross-chain capabilities. Traders typically connect to third-party wallets like TrustWallet or MetaMask to exchange crypto across different blockchains, but Lunex Network connects all these networks within a non-custodial platform. In this way, traders can enjoy cross-chain trading with over 50,000 convertible currencies.
Apart from trading, Lunex Network also offers a variety of unique features that appeal to both institutional and retail investors. Lunex Network Portfolios and Wallets allow traders to easily track bonds, ETFs, and stocks in one place. Additionally, its revenue sharing model rewards token holders by setting aside a portion of the profits generated to purchase and redistribute LNEX tokens on the open market.
Considering its diverse features, Lunex Network is currently trading at $0.0013, soaring from its starting price of $0.0012. Analysts are already predicting a massive 50x upside at launch, giving early investors a unique opportunity to buy at that low entry price and enjoy a higher return on investment.
Dogecoin price is increasingly bearish
Dogecoin has fallen more than 20% due to the overall market downturn. Market experts are predicting further declines, indicating that Dogecoin price may fall below key support levels. They believe that Dogecoin has not been able to form a descending wedge pattern for several months.
Although this pattern is usually considered bullish, Dogecoin token failed to break out of the wedge. Additionally, a rejection above the 200 EMA is a concern for traders. The analyst noted that this particular rejection could indicate strong bearish sentiment and suggests that the bears are controlling the market at a very important resistance point.
A particularly bearish engulfing candlestick has formed, highlighting a bearish reversal. Dogecoin price is also trading within a descending wedge, suggesting strong bearish momentum from both a short-term and long-term perspective.
Shiba Inu whale activity increases rapidly
Currently, as the broader cryptocurrency world is in a downward trend, Shiba Inu’s price has recorded a notable steep decline, and the trading volume has decreased by more than 40%. This suggests an overall decline in investor interest. However, the activity of the Shiba Inu network is rapidly increasing. According to IntoTheBlock data, Shiba Inu whale activity has increased significantly.
Data has witnessed an increase in large-scale trading of Shiba Inu tokens, highlighting the presence of whales. Memecoin recorded 383 large transactions on the blockchain in one day, a weekly record. Additionally, the increase in activity was driven by a whopping 8.7 trillion SHIB tokens they moved.
Increased whale activity highlights major market movements in the future. This could mean an impending Shiba Inu price reversal or further market consolidation. Given this view, experts are cautiously bullish on Shiba Inu’s price, suggesting that the meme coin could go either way.
Is Lunex Network a worthwhile investment?
As the cryptocurrency market continues to decline, the price performance of Shiba Inu and Dogecoin has also been affected, leading to bearish momentum. However, this is not the case with Lunex Network. LNEX has shown impressive performance and increased token demand, making it a standout choice for investors looking to enjoy significant ROI in the coming months.
Discover exciting opportunities in the Lunex Network (LNEX) presale today!
Website: Lunex Network
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This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before acting on the information presented in this article.
