Ethereum's fall below $3,000 has raised market concerns, impacting cryptocurrencies like Shiba Inu and projects such as DTX Exchange.
Ethereum Loses $3,000 Support
Ethereum has remained relatively stable for some time, but recently its price dropped below the psychological mark of $3,000. Currently, it is priced around $2,900, marking a 9% decrease over one day. This downturn has affected the broader altcoin market. Analysts warn of a potentially continued decline but predict that Ethereum could reclaim the $3,200 level after consolidation.
Shiba Inu in the Wake of Ethereum's Decline
The cryptocurrency Shiba Inu (SHIB) has been adversely affected by Ethereum's price drop, losing its bullish momentum. Its current price is $0.000015. Optimism for Shiba Inu partly relies on community initiatives like token burn efforts, which reduce supply. Despite the current climate, experts see potential for SHIB to grow fivefold in the long term, aided by developments like Shibarium and new partnerships.
DTX Exchange Gains Amid Ethereum's Fall
As Ethereum and Shiba Inu struggle, some investors have turned their focus to alternative projects such as DTX Exchange. The platform uses hybrid technology to connect traditional finance with decentralized finance. In initial funding rounds, the project has raised over $13.4 million. The DTX token is priced at $0.16, with more than 50% of the supply already sold. Analysts speculate significant price growth once it is listed on major exchanges.
Ethereum's price drop has cast doubt on the planned altcoin rally for 2025. However, ongoing developments in the SHIB ecosystem and strides made by DTX Exchange offer investors some optimism.
