In the past week, DeXe's price has surged dramatically, with the altcoin market becoming more active. DEXE is currently trading at approximately $5.46, having risen over 16% in the past day and about 44% over the past week.
Trading activity has also increased significantly, with daily trading volume rising by about 68%, making DEXE one of the top winners in the current crypto market. One reason for this price increase is that investors are shifting funds towards smaller altcoins in search of higher returns.
The broad rotation of altcoins occurring in the market has also supported this trend. According to CoinMarketCap, the altcoin season index has risen to 41, increasing by more than 10 points in the past week.
Against this backdrop, DeXe (DEXE) has performed particularly well. Its price has increased by 154% over the past 30 days, and it has risen 19.9%, far exceeding Bitcoin's gains during the same period. In such a market, traders often invest in well-performing tokens.
Moreover, the significant increase in trading volume is also a crucial factor supporting this rebound. DEXE's trading volume has approached $26 million, further indicating that the price rise is backed by substantial buying rather than a lack of liquidity.
It is noteworthy that this price surge has not been accompanied by any major announcements or updates, suggesting that this rally is not driven by a single piece of news. More likely, traders are increasing their investments in smaller altcoins, with funds flowing from Bitcoin to these tokens showing strong momentum.
Nevertheless, the DeXe team continues to promote the project's progress. Recently, they mentioned several features, such as smart contracts, on-chain treasury, and functionalities that aid decentralized autonomous organizations (DAOs) in making transparent decisions. These all belong to the larger concept of decentralized governance, which is gaining increasing attention in Web3.
This narrative may also enhance market confidence in the project, especially as DAO infrastructure continues to attract attention in Web3.
What the DeXe Chart Shows
We looked at the 4-hour chart, and DEXE appears to have completed a long accumulation phase before the price began to rise.
DEXE's price had been on a downward trend for the past few weeks, forming a support zone around $2, which eventually attracted buying. Since then, the market has gradually established a series of higher lows, particularly after early March, when a strong upward trend re-emerged.
However, the latest breakout has moved the price into the $5.40 to $5.50 range, which is one of the stronger trends seen in the past year.
After the price retraced to $5,