DeFi Coin Surges 700% as Cardano and Shiba Inu Struggle

DeFi Coin, a decentralized finance (DeFi) token, has surged by an impressive 700% in recent weeks, outshining other prominent cryptocurrencies such as Cardano (ADA) and Shiba Inu (SHIB), which have been struggling under bearish pressure.

Cardano (ADA), one of the top crypto coins, has been trading in the red zone, with its price decreasing over the weekend to as low as $0.57. Although bulls quickly reacted to the downtrend, pulling the Cardano price to $0.70, the cryptocurrency's value has dropped by 20.6% in the weekly timeframe. There are also significant losses of 34.5% on the biweekly and monthly levels. Technical indicators like the relative strength index have gone bearish, suggesting that the Cardano crypto might continue under selling pressures in the short term. If the ADA price falls below the support level at $0.84, it may plunge to lower lows.

Shiba Inu (SHIB), another popular cryptocurrency, has also been on a downtrend in the last few weeks. On February 3, the value of the Shiba Inu coin price dropped to $0.00001284. While the value of the memecoin has increased to $0.00001400, it is still under bearish pressure. Data from CoinMarketCap shows the Shiba Inu price has dipped by 20.4% on the weekly timeframe and 41.7% on the monthly level. Despite the recent struggles, analysts remain optimistic about its future trajectory, noting that the value of the cryptocurrency seems to have hit rock bottom and could potentially pump to $0.0000200 after hitting the bottom.

Meanwhile, DTX Exchange (DTX), an innovative platform combining traditional and DeFi trading, has attracted attention with its next-gen trading platform. The platform offers a smooth interface and allows trading in multiple assets at once, including cryptocurrencies, shares, forex, metals, CFDs, and ETFs. With over 120,000 products available, both first-time investors and experienced ones can diversify their investments. The DeFi project is currently in the presale stage