Why Is Dymension (DYM) Price Pumping? The Reason a 50% Short Term Surge is Still on the Cards

The price of Dymension (DYM) has surged 20% today and 85% in the last 7 days, with its current price sitting at $7.46. Ahead of DYM’s mainnet launch, trader Akshit (@TraderAkshit) predicted similar price action to Thalia (TIA) which saw a dump by airdrop farmers initially, presenting a good buying opportunity. He expected a pump once these sellers were exhausted, citing DYM’s incentives around staking and future airdrops.

The launch has now occurred, and the constant potential of airdrops continues attracting investors. Dymension aims to provide easy crypto app rollup solutions with economic sustainability. The Pyth Network also recently released a DYM/USD price feed across 50+ chains, improving price transparency.

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Further Upside Expected

Analyst onedigitnumber.eth (@onedigitnumbers) believes $DYM growing to $10-$12 is achievable. This would equal around half the market cap of Cosmos. He expects even more hype, use cases and airdrops than Cosmos which could push prices as high as $40-60 in a raging bull market.

So in summary, DYM’s technology, alignment with Pyth Network and airdrop incentives paired with an overall bullish market outlook from analysts help explain the ongoing price pump.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.