Dymension Price Prediction: Top Trending DYM Rises 25% After $390 Million Airdrop as Bitcoin Derivatives Soar Towards $11 Million

adminFebruary 9, 2024

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Dymension price has traded up 25% in the last 24 hours. $7.02 8:55 AM EST.

This comes two days after Dymension’s mainnet launch, an airdrop that distributed over $390 million in DYM tokens to early adopters and select groups.

Dymension was conceptualized two years ago as a monumental vision to add another dimension to interchain and build a modular internet of rollups.
— Dimension (@dymension) February 6, 2024

Dimensional Price Forecast

Technical analysis for 30-minute DYM/USDT indicates a bullish trend. The pair is trading above the Supertrend indicator shown in green, indicating a potential uptrend as the price is above the 6.525 support level.

The relative strength index (RSI) is around 69.46, below the overbought threshold of 70. This indicates that the market remains strong but still has room for upside before the asset becomes overbought again.

The average directional index (ADX) is 47.62, indicating a strong trend. ADX values above 25 usually indicate a strong trend and the current values show that the upward trend in Dymension price is very strong.

Dymension Price Prediction: Can DYM Correct?

On the other hand, as RSI approaches overbought conditions, the likelihood of a correction increases. This is supported by the Stochastic Oscillator (Stoch) at 76.79, near overbought territory, which may be a sign that the market may be overextended in the near term.

Altcoin Sherpa, who has over 202K followers on do. I suggest caution.

Accordingly, Sherpa expects a round bottom pattern, indicating stabilization before entering an uptrend.

$SMOKE: I don’t know why I would buy this product in the long run. This is a bit different from other recent launches given the larger airdrop mechanics. If this is going to be a morale pump, wait for some sort of round bottom first and then buy while it’s rising. Don’t… pic.twitter.com/NvPmKo1Nta
— Altcoin Sherpa (@AltcoinSherpa) February 7, 2024

Meanwhile, with the price of Dymension surging, new cloud mining project Bitcoin Minetrix is emerging as one of the top five cryptocurrency presales for 2024.

Alternative choice?

Bitcoin Minetrix By merging cloud mining and staking, we make Bitcoin mining economically accessible to anyone by reducing the need for expensive mining equipment.

Users can control all aspects of cloud mining using Bitcoin Minetrix’s stake-mining functionality. You can participate in decentralized Bitcoin mining using cloud mining credits earned by staking BTCMTX tokens without the fraud risks associated with third-party cloud mining services.

Another passive way to make money on the site is by staking BTCMTX. Incentives for players are provided through a staking pool, which generates returns of 64% per annum. A total of over 652 million tokens have been staked.

Another way to earn BTCMTX tokens is by participating in Minedrop contests. The total prize pool is $30,000, with 10 lucky winners receiving $3,000 each.

🎉 #Bitcoin Metrics $30,000 Minedrop is now available! 🎉
Get ready for your chance to win $30,000 worth of prizes $BTCMTX!
For your chance to win one of 10 $3,000 prizes, follow the steps in the link below. $BTCMTX Goods! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N
— Bitcoin Minetrix (@bitcoinminetrix) October 5, 2023

Cryptocurrency expert and YouTuber Jacob Bury, who has 27,000 followers, gave the project his stamp of approval, predicting a potential tenfold increase in value upon launch.

BTCMTX presales surpassed $10.5 million raised, surging toward the $11.2 million goal.

The price of BTCMTX token is currently $0.0133, but a price increase is expected within two days. So if you are interested in investing, act quickly to secure the best price possible. In addition to USDT and ETH, bank cards can also be used to purchase BTCMTX tokens.

Visit Bitcoin Minetrix here..