Dash Price Skyrockets by 10% in Just One Week, Fueling Speculation of Bullish Momentum

The general crypto market is facing several challenges, with many cryptocurrencies plummeting in their value. Notwithstanding, some cryptos like Dash have made dramatic performances in the market.

As of June 14, 2023, Dash saw some price gains in a short period, trading at $29.69. From then till June 21, the coin grew to $33.44, confirming a bullish momentum in its market.

While the crypto upholds this bullish trend, its past and present price actions and technical analysis could hint at what to expect in the coming days to weeks.

Brief On Dash And its Place in the Crypto Space

Dash (DASH) is a cryptocurrency project promising a fast and affordable worldwide payments network. It is designed to be an open source blockchain. Dash was established to improve Bitcoin as it promised faster transactions and more privacy. 

Notably, the project was launched in 2014, and the name Dash was derived from “digital cash.” It secures transactions on its blockchain using a two-tier network.

Furthermore, the Dash project provides incentivized nodes and runs decentralized governance. It also enables payment settlements to be done instantly through its InstantSend function.

Notably, it has other functions like PrivateSend and ChainLocks. Its PrivateSend function provides added privacy options for transactions. The ChainLocks function makes the blockchain promptly immutable, and it also operates a proof-of-work (PoW) consensus.

Dash Past and Present Price Action

The past and present price behavior of cryptocurrencies plays a vital role in speculating their future price trends.

Historical data from an analytical trading platform, TradingView, revealed that on June 14, 2023, Dash traded in the bearish pool, opening at $29.69 and closing at $28.14. 

But on June 15, 2023, the bulls moved the market, pushing Dash to open at $29.11 and close at $29.57. On June 16, 2023, the bulls held this position, therefore maintaining the bullish momentum as it opened at $29.64 and closed at $30.66. 

Between June 17 and June 19, 2023, the market price was a bit stable as there were negligible price changes in Dash. The asset traded average on the $30 price level. Interestingly, on June 20, 2023, the bulls took the price up again as it opened at $30.83 and closed at $32.80. 

This could be due to the surge in Bitcoin price that started on this same day. As of today, June 21, Dash is sustaining the bullish momentum as it opened 32.80 and has traded through it to $33.22 as of the time of writing. Hopefully, it may close at this current price level or even above it.

Dash Likely Retracing Bak to Bullish Trend

Dash technical analysis on TradingView has indicated possibilities of Dash price maintaining the bullish momentum for some time. Dash has its Relative Strength Index indicator on 42.30 from the oversold zone (30) heading towards the overbought zone (70). 

This indicates a possible bullish trend before the day runs out. If investors buy more of DASH, the RSI could enter the overbought zone suggesting high valued market.

Again, the Moving Average Convergence/Divergence indicator is above the signal line, and the green crest formation indicates that the bulls are likely taking over the Dash market. 

Notably, DASH is currently trading below its 50-Day and 200-Day Simple Moving Average (SMA), indicating a bearish trend in the short and long term. But the signals from the other indicators show the Dash could sustain the bullish trend before a trend reversal to the downside. 

Factors Affecting DASH Price Trend

The current surge in Bitcoin price could have contributed to the positive price growth for DASH today. From the data Dash had the highest price gain within the week as of June 20, 2023.

This same day was the day Bitcoin price rose, trading within the $28,000 price level as it opened at $26840 and closed at $28315 on June 20, 2023.

On June 19, 2023, Binance Feed revealed that two noble and huge asset-managing companies, BlackRock and Fidelity Investments, showed interest in Bitcoin spot ETF.

With this recent development, crypto investors became excited and deposited funds into the Bitcoin market amidst SEC securities lawsuits against crypto exchanges. 

This caused the Bitcoin market price to rise. Since Bitcoin is the mother cryptocurrency, when BTC price gains, many altcoins gain with it and reverse when it loses.

But sometimes, an altcoin project’s potential and investors’ sentiments may make its price behave differently from the price of Bitcoin. This positive movement seen in BTC, Dash, and others could trigger a surge in a meme crypto project, AiDoge, with a token ($AI2).

AiDoge and Its Performance

AiDoge is a project on the meme niche of the cryptocurrency industry utilizing the capacity of Artificial Intelligence (AI) to generate memes. The project provides a tool for creating high-quality and up-to-date memes through its AI algorithm.

Notably, the AI technology used is trained on a broad dataset to generate contextually crucial memes and also to generate memes from digital currency news sources.

Again, the AiDoge project is built on three main features, an AI-powered meme generator, utility token ($AI), and text-focused prompts. Furthermore, the project has a public wall where users can access options for sorting and filtering. 

This helps users browse for memes based on some conditions, such as specific memes, popularity, or recency. The project has an ecosystem upon which the $AI token is used for purchasing credits to encourage liquidity. 

To facilitate the process towards achieving the project’s goal, the project team offered $AI holders free access to special and enhanced software for creating memes, and they also did $AI airdrop.

Notably, AiDoge offers staking privileges in $AI, making participants get rewards in credits daily. The staking activity is mandatory to help the platform maintain long-term engagement to ensure the platform’s stability.

AiDoge ($AI) Performance After Presale

The presale of AiDoge achieved success within a very short time. The presale of the project has ended. 

Notably, AiDoge gained success due to the increased interest of investors in the meme crypto projects since the success of the PEPE meme token happened. This rush into the project at the presale stage indicates a possible price surge for its market price in the future.

Following the end of the presale, the team announced the listing for AiDoge. According to the update, AiDoge appeared on MEXC yesterday, June 20, with $A12 as the ticker symbol. 

After the listing, the token pumped by nearly 700%. However, $A12 tanked early today, June 21, by almost 35%. But when writing a few hours later, it is selling at $0.00010040, indicating a 6.435 decline in 24 hours. Its trading volume is also increasing on MEXC.  

AiDoge Project Roadmap outlines developments for 2023 Q2

The AiDoge project team mapped out how the project would achieve its goals and objectives. The team distributed its plans across quarters of 2023 and 2024. Notably, the project is currently in the second quarter of 2023. 

Since the presale has ended, the possible latest development the team will pursue includes a Contract Audit on SolidProof, ICO Launch, Platform Development Commences, and listing of tokens on many DEX and CEX.