Key Takeaways
The Dymension rollapp creation platform came out in late January 2024. In a week or so, its native DYM coin entered the top 100 cryptos by market cap as a series of listings – perhaps most notably on Kraken – saw it gain attention from investors. The launch of its mainnet on February 7 also helped boost its price.
After a strong start, the token’s price dropped, and it’s now notably far from the top 100 cryptos. Can DYM regain its initial strength?
By Nov. 20. 2024, after the platform announced it was introducing royalties for creators , DYM was worth about $1.55.
Let’s look at our Dymension price predictions, made on Nov. 20, 2024. We will also examine the history of Dymension’s price and talk a little about what Dymension is and what it does.
Let’s look at the DYM price prediction made by CCN on Nov. 20, 2024. We will use the wave count to create our targets and add and remove 20% for the minimum and maximum predictions.
Minimum DYM Price Prediction | Average DYM Price Prediction | Maximum DYM Price Prediction | |
---|---|---|---|
2025 | $5 | $6.20 | $7.40 |
2026 | $5.80 | $7.30 | $8.80 |
2030 | $8.70 | $10.80 | $12.90 |
The most likely wave count suggests that DYM is in wave four of a five-wave downward movement (black) that started in February.
If the count is accurate, wave four will end soon, leading to the final downward movement. A likely target for the bottom of the decline is $0.61, created by the 1.27 external Fibonacci retracement of wave four, likely to be reached in December.
Then, the DYM price could begin an A-B-C structure that takes it to the 0.618 Fibonacci retracement resistance level. If the correction has the same length as the downward movement, DYM will reach a high in October 2025.
We will then use the rate of increase since launch until this date to come up with the DYM price predictions for the end of 2025, 2026, and 2030.
Doing so leads to price targets of $6.20, $7.30, and $10.80, respectively
The combination of the wave count and daily rate of increase gives a DYM price prediction range of $5 to $7.40 for the end of 2025.
The combination of the wave count and daily rate of increase gives a DYM price prediction range of $5.80 to $8.80 for the end of 2026.
The combination of the wave count and daily rate of increase gives a DYM price prediction range of $8.70 to $12.90 for the end of 2030.
The DYM price has fallen precipitously since its launch in February. The decline culminated with a low of $0.97 in July, which was a decline of 76% since the launch price. DYM regained its footing afterward, creating three successive higher lows.
Since then, the DYM price has traded inside a symmetrical triangle, considered a neutral pattern. However, since the pattern comes after a downward movement, it will be more likely to lead to a breakdown
Additionally, DYM has followed a descending resistance trend line (dashed) since launch, and the trend line coincided with the triangle last week (black icon).
The Relative Strength Index (RSI) creates higher lows after moving outside its oversold territory. However, the indicators have not generated any bullish divergence and are still below 50. So, it is not enough to negate the bearish price action.
Therefore, the weekly time frame leans toward a price breakdown and barish continuation. Let’s look at the daily one and see if it gives any contradicting outlook.
The DYM price prediction for the next 24 hours depends on whether the price breaks down from the triangle, as is likely according to the price action and wave count.
A breakdown could trigger a downward movement toward $0.61.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Nov. 20, 2024, Dymension’s ATR was 0.067, suggesting average volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Nov. 20, 2024, the Dymension RSI was 41, indicating somewhat bearish conditions.
The Total Value Locked (TVL) to market cap ratio (TVL ratio) measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to locked asset value. A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets.
On Nov. 20, 2024, the Dymension TVL ratio was 67, suggesting severe overvaluation.
The CCN Strength Index combines an array of advanced market signals to quantify the strength of individual cryptocurrencies over a recent 30-day period.
Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.
The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.
However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but the score will slowly adjust back up as volatility decreases.
On Nov. 20, 2024, Dymension scored 29.2 on the CCN Index, suggesting fairly weak momentum.
Current Price | One Month Ago | Price Change | |
---|---|---|---|
Dymension | $1.55 | $1.90 | -18.4% |
Celestia | $5.10 | $6.09 | -16.2% |
Pyth Network | $0.4155 | $0.3641 | +14.1% |
Xai | $0.233 | $0.2453 | -5.01% |
Following that, let’s now take a look at some of the key dates in the Dymension price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Dymension price prediction.
Time period | Dymension price |
---|---|
Last week (Nov. 13 2024) | $1.74 |
Last month (Oct. 20, 2024) | $1.90 |
Three months ago (Aug. 20, 2024) | $1.41 |
Launch price (Jan. 30 2024) | $4.67 |
All-time high (Feb. 14, 2024) | $8.66 |
All-time low (Aug. 5, 2024) | $0.9843 |
The market capitalization, or market cap, is the sum of the total number of DYM in circulation multiplied by its price.
On Nov.20, 2024, Dymension’s market cap was $330 million, making it the 176th-largest crypto by that metric.
Supply and distribution | Figures |
---|---|
Total supply | 1,036,568,290 |
Circulating supply (as of Nov. 20, 2024) | 214,996,154 (20% of total supply) |
In its technical documentation or litepaper , Dymension says it “allows RollApps to choose data providers based on security and cost needs.
“Dymension separates functionalities, with the Dymension Hub acting as the settlement layer and individual RollApps handling transaction processing. The Dymension Hub offers a unique dispute resolution mechanism by simulating a RollApp environment to ensure deterministic outcomes.”
Dymension is a proof-of-stake (PoS) blockchain, which means that people can add blocks to it, secure the network and verify transactions based on how much DYM they hold.
The platform operates in the play-to-earn (p2e) and decentralized finance (DeFi) spheres. It allows people to create rollapps. These are a kind of rollup, a way of taking a transaction off a main blockchain, carrying it out somewhere else, and putting it back on the main blockchain.
Dymension came out in January 2024.
The DYM coin gives holders a chance to add blocks to the Dymension blockchain. People can set it aside or stake it in return for rewards. Transaction fees are made in DYM, which are then distributed to the coin’s holders, and the rewards on the network are also paid in DYM.
People can also buy, sell, and trade DYM on exchanges.
It is hard to say at this stage. DYM is still finding its feet in the crypto world. While it has performed well over the last few days, it is cooling off somewhat. We don’t know its natural price point, so caution is advised.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in DYM.
No one can really tell right now. While the Dymension crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Before you decide whether or not to invest in Dymension, you will have to do your own research, not only on DYM but on other related coins and tokens such as Optimism (OP) or Arbitrum (ARB). Either way, you must also ensure you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri.
It could do, but not for a little while. Price predictions based on technical analysis see DYM potentially breaking $10 in 2030. The DYM token supports the Dymension blockchain. People can also buy, sell, and trade it on exchanges.Will Dymension reach $10?
What is Dymension used for?