BARR pattern breakout signals a potential 40% rise to $9.50 for Toncoin (TON). Binance listing and Injective integration boost Toncoin’s price and liquidity. Bitcoin Dogs’ 0DOG token will debut on Gate.io, MEXC Official, and Unisat Wallet.

As August progresses, Toncoin (TON) and Bitcoin Dogs, two prominent players in the cryptocurrency space are capturing the spotlight. Toncoin is showcasing impressive bullish momentum, while Bitcoin Dogs is preparing for a significant market debut. With the crypto market witnessing fluctuating trends, these developments offer intriguing insights into the evolving landscape of digital assets. This article delves into the bullish signals for Toncoin and the highly anticipated launch of Bitcoin Dogs on major exchanges. Toncoin bullish momentum and technical analysis Toncoin (TON) has exhibited strong bullish signals, positioning itself as one of the top-performing cryptocurrencies. As of August 19, 2024, Toncoin is trading at $6.82, reflecting a notable rise of 8.36% over the past week, despite a broader market decline. This surge is attributed to several key factors, including technical patterns, fundamental developments, and on-chain data. One of the most compelling technical indicators for Toncoin is its breakout from a Bump-and-Run Reversal (BARR) pattern. This pattern, often a precursor to significant upward movement, suggests a potential price increase of around 40%, targeting the $9.50 mark. The BARR setup begins with a lead-in phase, followed by a sharp downturn (bump), and culminates in a recovery and eventual breakout (run). Recent price behaviour aligns with this setup, reinforcing the bullish outlook. The breakout, which occurred around August 18, 2024, was marked by a sustained rise above the previous declining trendline, coupled with increased trading volume. This technical shift is further supported by Toncoin trading above its 50-day and 200-day exponential moving averages (EMAs), both of which are showing upward slopes. Additionally, the Relative Strength Index (RSI) remains above the neutral 50 level, indicating continued buying pressure despite short-term overbought conditions. Fundamental factors have also played a crucial role in Toncoin’s recent price surge. Notably, the listing of Toncoin on Binance on August 15, 2024, has significantly improved its liquidity and market accessibility. Furthermore, the integration of Toncoin with the decentralized finance protocol Injective on August 14, 2024, has enabled TON-based assets to be utilized within Injective’s ecosystem, enhancing its utility and adoption. On-chain data further supports the bullish sentiment surrounding Toncoin. Analysis shows a redistribution of tokens from large holders (whales) to smaller investors. As of August 19, 2024, the percentage of Toncoin held by addresses with 100,000 to 1,000,000 coins has declined, while the share held by addresses with 10,000 to 100,000 coins has increased. This shift indicates growing buying interest among mid-sized investors, often a precursor to bullish price action. Bitcoin Dogs’ major market debut on August 21 In a parallel development, Bitcoin Dogs is set to make a significant market debut on August 21, 2024. The project, which raised over $13.496 million in its presale, will list its 0DOG token on three major exchanges: Gate.io, MEXC Official, and Unisat Wallet. This milestone marks the transition from its presale phase to active trading and is expected to generate substantial interest and trading activity. Bitcoin Dogs is notable for being the first-ever ICO on the Bitcoin blockchain, combining blockchain technology with canine-themed digital assets. The project features a metaverse called the Dogaverse, where users can engage in various activities, including gameplay and NFT trading centred around a canine theme. The presale of Bitcoin Dogs was a resounding success, and the upcoming exchange listings represent a pivotal moment for the project. The strategic choice of exchanges reflects Bitcoin Dogs’ commitment to expanding its market reach and providing ample liquidity for its tokens. The token claim process will also commence on August 21, allowing presale participants to access their tokens. Looking ahead, Bitcoin Dogs has outlined an ambitious roadmap, including a game beta, token staking, and multi-chain support. The project’s innovative blend of blockchain technology and canine culture positions it as a unique player in the crypto space, with further developments planned for late 2024 and early 2025. Conclusion As Toncoin signals bullish momentum with promising technical and fundamental indicators, and Bitcoin Dogs (0DOG) gears up for its major exchange debut, these developments underscore the dynamic nature of the cryptocurrency market. Investors and enthusiasts alike are keenly watching these developments, which could shape the future trajectory of these digital assets.

Share this article

Categories

Markets

Tags

Bitcoin News Cryptocurrency News

Key takeaways

DTX Exchange is set to join a host of other layer-1 protocols in the Web3 ecosystem. The project raised nearly $1.5 million in its presale and will use the funds to roll out a range of products, including a wallet.

What is DTX Exchange? DTX is a new layer-1 protocol coming to the cryptocurrency exchange. According to its official website, DTX Exchange is a comprehensive investment platform designed for seasoned investors seeking access to a diverse array of financial instruments. The platform offers high-end products that ensure seamless investment in cryptocurrency, equities, forex, and other asset classes.  Per the development team, DTX will focus on delivering an unmatched trading experience. The platform has a zero-commission policy, expedited withdrawals, and rapid trade execution. Furthermore, as an investment platform, DTX has strict adherence to regulatory standards, ensuring a secure and compliant investment environment. The team explained that traders with at least $10,000 on account with the DTX Black Club will have access to different benefits. Some benefits include rakeback, monthly bonuses, level-up bonuses when you move, e.g., from bronze to silver, weekly bonuses, daily bonuses, and reimbursement from net losses.  DTX Exchange’s core features As a trading and investment platform, DTX Exchange comes with a wide range of features. The team revealed that the exchange will go live before the presale comes to an end.  DTX will also launch a layer-1 protocol to compete with industry leaders, including Ethereum, BNB Chain, Solana, and others. The project has raised nearly $1.5 million in its presale, and Solidproof completed a KYC audit.  As a trading platform, traders can use up to 1000x leverage, which is higher than what is attainable on the leading centralised cryptocurrency exchanges. Furthermore, the DTX exchange will be home to over 120,000 assets, indicating that investors and traders will have access to a wide range of trading pairs. The platform will also introduce Quant and Algo trading as it seeks to attract some of the world’s leading traders.  Investors focus on DTX’s presale as funding approaches $1.5m The DTX Exchange presale is currently in its second round and has attracted over $1.4 million so far. Upon launch, DTX is expected to achieve a daily trading volume of $175,000,000 on the exchange from all the assets traded. With a 0% commission, DTX will raise revenue using other means such as spreads, withdrawal fees, listing fees, staking fees, margin trading, and futures trading. From the $175,000,000 volume, DTX will yield a profit daily of approximately 2% ($3,500,000). In this current presale round, investors can purchase a single DTX token for $0.04. However, the token price will increase to $0.06 in the next presale round, which commences once the amount raised reaches $2 million. Investors can purchase the DTX token using USDT.  Find out more about the DTX presale here. Why should you invest in the DTX project? In the history of the crypto space, the best times to purchase tokens are either during the presale or during a bear market. DTX Exchange could become a leading trading platform thanks to its proposed products and a layer-1 protocol. As a VIP presale investor, DTX Exchange will share out of the 2% profit, with 1% distributed as a rebate share among its VIP Presale Investors. The team explained that the rebate share can be paid on a daily, weekly, monthly, quarterly, bi-annual, or annual basis.  DTX is offering investors various incentives, and its native token could follow the footsteps of other exchange-based tokens like BNB, OKB, CRO, and GT.

Share this article

Categories

Business