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The Dymension price surged 25% in the last 24 hours to trade at $7.02 as of 8:55 a.m. EST.
This comes two days after Dymension’s mainnet launch and an airdrop that distributed more than $390 million worth of DYM tokens to early adopters and select groups.
Dymension was conceptualized two years ago as a monumental vision of adding another dimension to the Interchain and building a modular Internet of rollups.
— Dymension (@dymension) February 6, 2024
Dymension Price Prediction
A technical analysis of 30-minute DYM/USDT suggests a bullish trend. The pair is trading above the Supertrend indicator, which is shown in green, signaling a potential uptrend as the price is above the 6.525 support level.
The Relative Strength Index (RSI) is around 69.46, which is below the overbought threshold of 70, indicating that while the market is strong, there is still room for upward movement before the asset becomes overbought again.
The Average Directional Index (ADX) is at 47.62, signifying a strong trend. An ADX value above 25 typically suggests a strong trend, and the current value shows that the upward trend on the Dymension price is quite robust.
Dymension Price Prediction: Could DYM Correct?
On the other hand, with the RSI approaching overbought conditions, chances of a correction also increase. This is supported by the Stochastic oscillator (Stoch), which is at 76.79, near the overbought territory, which could also signal that the market might be overextended in the short term.
Altcoin Sherpa, with over 202K followers on X (formerly Twitter), backs these prospects as he suggests DYM is currently drawing skepticism from traders regarding its long-term investment potential due to the unique situation surrounding its launch, which includes significant airdrop dynamics, hence suggesting caution.
In line with this, Sherpa expects a rounded bottom pattern, indicating a stabilization before entering an upward trend.
$DYM: I dont know why you would really buy this one for the long term. This one is a bit different than some of the other recent launches given the larger airdrop dynamics. If this is going to scam pump, wait for some sort of rounded bottom first and then buy on the way up. Dont… pic.twitter.com/NvPmKo1Nta
— Altcoin Sherpa (@AltcoinSherpa) February 7, 2024
Meanwhile, as the Dymension price pumps, Bitcoin Minetrix, a new cloud mining project, is emerging as one of the top five crypto presales in 2024.
An Alternative Choice?
Bitcoin Minetrix reduces the need for expensive mining equipment by merging cloud mining and staking, making economical Bitcoin mining accessible to everyone.
Users can control every facet of their cloud mining using Bitcoin Minetrix’s stake-to-mine function. Without the risk of fraud associated with third-party cloud mining services, you may use the cloud mining credits you earn by staking your BTCMTX tokens to participate in decentralized Bitcoin mining.
Another passive method to earn money on the site is to stake BTCMTX. Incentives for players are provided by the staking pool, which yields 64% annually. A total of over 652 million tokens have been staked.
By taking part in its Minedrop contest, you may earn BTCMTX tokens in another way. There is a total prize pool of $30,000, and ten fortunate winners will each get $3,000.
🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
Crypto expert and YouTuber Jacob Bury, who has 27,000 followers, has given his stamp of approval to the project, predicting the potential for a tenfold increase in its value upon launch.
The BTCMTX presale has just blasted past $10.5 million raised as it surges towards its $11.2 million target.
The BTCMTX token is now priced at $0.0133, but a price hike is coming in less than two days. So, if you are interested to invest, act fast to secure the best possible price. In addition to USDT and ETH, bank cards are also accepted for purchasing BTCMTX tokens.
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