Dymension Price Doubles After Airdrop as New Meme Coin Surges to $8.8 Million in Funding
Following a successful DYM airdrop, promising IBC roll-ups project Dymension Network has seen price of native DYM token double.
This article will provide an analysis of DYM’s current price trends and look to see whether a newer meme coin, Meme Kombat, represents a more promising investment opportunity at this time.
The highly anticipated DYM airdrop saw more than 70m DYM tokens – worth a reported $400m – distributed to holders, but with the token launching against a backdrop of technical issues with the Dymension mainnet – will price action pull off a Celestia style rally?
#Dymension Update:
Who Participated in $DYM ICO, Now they are 162% profit.
– ICO Price: $4.7
– Current Price: $7.7 ( 62% Up )
– Backer's Round: Not Disclosed By Team.
Note: Backers Fund will be Unlocked after 421 Days ( 6 April 2025 )
Did you buy in ICO?#Bitcoin pic.twitter.com/zMEmqj5ygO
— Crypto Patel (@CryptoPatel) February 9, 2024
Yet, despite the technical difficulties, crypto community sentiment remains remarkably bullish on DYM price, with analysts highlighting that original airdrop recipients are stood on a162% gain just 48-hours after token distribution.
As price action battles to keep pushing up, Dymension Network is currently trading at a market price of $6.98 (representing a 24-hour change of -4.14%).
This comes as a worrying layer of resistance around $8.33 stalls DYM’s impressive opening rally, with a potentially catastrophic double-topped rejection pattern that could spell downside on the short-time frame.
Now tumbling to the downside, DYM airdrop bulls are attempting to consolidate the price correction around localized lower support at $7.
In case of further declines, DYM’s price is expected to find support around the bottom trendline at $6.34.
The
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