Dymension prices have surged by 30% in the past 24 hours, trading at $7.873 per coin as of 1:20 am ET. Trading volume has surged by 82%.
Meanwhile, Solana-based token JUP (Jupiter decentralized exchange token) plunged 9% and was trading at $0.5033 per coin, with a trading volume of 27%.
This shows that investor interest is shifting from JUP to DYM. What both projects have in common is their respective airdrops, and traders are now following this latest trend.
The $3.9 billion airdrop for these projects was a huge success. Over a million wallet addresses claimed DYM tokens. Claims began in early January, but transfers were not made until February.
Dymension launched the mainnet and sent a large amount of DYM to Solana, Ethereum users, etc.
The surge in Dymension’s price and interest in the DYM token was also helped by the mainnet launch on February 5.
Meanwhile, Dymension prices remain bullish and have broken out of the upper boundary of the ascending parallel channel.
Dymension Price Prediction: DYM breaks through the upper boundary of the channel
Dymension price broke through the upper boundary of the ascending parallel channel, overcoming the resistance caused by the Fibonacci level of 78.6%. The relative strength index (RSI) surpassed the 70 level, which suggests that DYM is overbought. Investors should not be surprised if a correction occurs.
Nonetheless, the trend still favors an upside move as the Moving Average Convergence/Divergence indicator (MACD) is in positive territory. The RSI also shows strong price strength, supporting the bullish view.
However, as a precautionary measure, traders seeking to open a position in DYM should probably wait for confirmation.
In case of a pullback, the Dymension price could decline and fall inside the channel. However, to invalidate the current bullish setup, the Dymension price must record a candlestick chart close below the 50% Fibonacci level of $4.291.
Meanwhile, as the airdrop craze unfolds, new memecoin Smog burst onto the scene with the promise of delivering the largest Solana-based airdrop ever.
Smog was launched on the market through Jupiter DEX, promising to provide the largest airdrop. It draws on the success of projects such as Myro (MYRO), Bonk Inu (BONK), and Dogwifhat (WIF), which launched explosively on Solana.
Smog, which leads with the declaration that “No memecoin can survive the fire of Smog,” grants holders access to an expert crypto community called “The Dragon’s Court.” This is part of a larger goal of achieving unstoppable virality in the memecoin space.
This is based on the promise and excitement of the interactive and continuous multiple airdrop activities in the GameFi user experience. This interactive element involves users buying and holding $SMOG to generate and receive airdrop points. It is worth noting that the specific rewards and plans for the airdrop activities are still unclear.
In addition, $SMOG holders may also be eligible to receive a portion of the community bounty. This will be generated by activity, enhancing investors’ incentive to hold.
To participate in the SMOG airdrop, traders need to use a Solana-compatible wallet such as Phantom. You can use SOL, USDT, or BONK tokens to exchange for Smog through the Jupiter DEX aggregator or Birdeye.
Visit and purchase Smog
Also read:
Dymension Price Prediction: DYM Up 25% After $39 Billion Airdrop, This Bitcoin Derivative Heads Towards $11 Million
Solana Mobile Series 2 reaches 60,000 pre-orders in three weeks
Solana’s newest meme coin Smog explodes on Jupiter DEX with airdrop event
Jupiter Price Prediction: Solana Token JUP Rebounds with 8% Gains, but Analysts Recommend Considering Memecoin SpongeV2 on Polygon for 100x Gains
Solana Price Prediction: Solana price rises by 7%, while new SOL meme coin Smog breaks out in the market, rising by 1288%
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