Dymension (DYM), THORChain (RUNE) and ORDI Prices Pumping – Here’s Why

Amid the renewed momentum carrying Bitcoin over $46,000, several altcoins are also seeing their prices surge higher. In this article, we will look at some of the specific factors driving recent price spikes for three standout gainers: Dymension (DYM), THORChain (RUNE), and ORDI. Whether it’s mainnet launches, bullish technical setups, or riding Bitcoin’s coattails, unique catalysts are providing tailwinds for these altcoins even as the broader crypto market trends higher.

Dymension (DYM) Surges After Mainnet Launch

Dymension’s native token, DYM, has rallied 30% in the last 24 hours on significantly higher trading volumes. This price action comes right after Dymension’s mainnet launch and token airdrop two days ago. According to crypto analyst onedigitnumber.eth, DYM could reach $10-12 soon, which he notes would put its market cap around half that of Cosmos. Given the hype around Dymension currently and its potential use cases and airdrops, he thinks DYM could even reach $40-60 in a “raging bull” market.

THORChain (RUNE) Breaks Out After Falling Wedge Formation

According to Crypto Yapper, RUNE has broken bullishly out of a falling wedge pattern that typically leads to upside breakouts. RUNE has broken through the pattern’s resistance around $7, leading Crypto Yapper to forecast further upside from here based on the measured move target for this pattern.

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ORDI Attempts Breakout Near Double Bottom and Previous Resistance

CryptoBusy has flagged a potential breakout setup for ORDI around $60. He identifies a double bottom pattern combined with bullish divergence on technical indicators. With the price now at $63, ORDI is now trading above the previous trendline resistance. With Bitcoin’s pushback above $46k boosting confidence across crypto markets, ORDI bulls look poised to push the price higher.

So in addition to Bitcoin’s renewed momentum, idiosyncratic factors related to product launches, technical setups, and more seem to be driving altcoins like DYM, RUNE, and ORDI to notable price spikes. Traders are watching to see whether these gains can continue.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency