DENT crypto has been in the downtrend for the past weeks since it reached its recent All Time High of 0.0227 last April 05, 2021.
Currently, there are still no news about the token except for the recent "Giga-store Launched on March 31, 2021", the "New DENT Beta for iOS and Android twitted last April 30, 2021", and "the DENT App 4.0 showcased last May 21, 2021" that would boost the trade of mobile data and buying of customers while converting it with DENT coin. According to its white paper; " With DENT being the token in the mobile data space, the rate of appreciation might follow the SIZE OF THE MOBILE DATA MARKET IN DENT. According to GSMA, the size of the mobile data market is predicted to increase, larger market traded in DENT could lead to DENT price increase." So we may see the price of DENT to increase in value when there's ample volume of trade and market value of the data packages in the DENT EXCHANGE.
The DENT team is banking on tourism and travel as the lift of travel sanctions from the pandemic will increase mobility and mobile data usage, if people start using their app and convert their fiats to DENT for mobile data packages and trading that may be bullish. AS of the moment DENT is reactive to the price of Bitcoin and its bull run, like any other cryptocurrency unless it is intentionally being pumped then being dumped while other cryptos are on the red. The Total Supply is 100,000,000,000 DENT and Circulating Supply of 98,610,710,274 DENT flooding the market for mobile data packages as it differs in every country as currency exchange is different, also the price of data packages are different by level.
Am I Bullish or Bearish with DENT? - I bought DENT at 0.0033 with the position of riding this bull run with BTC to the moon - AS RISING TIDE LIFTS ALL BOAT. I see the price is at a discount with chart patterns pointing at a reversal. Another factor would be the Ethereum Network, as DENT Token is being run thru Ethereum, the developments with Ethereum will greatly affect DENT as well. My target would be a retest of the $0.09 to $0.11 its last All Time High banking on Ethereum's upgrades and token burn.
Can we see DENT can reach ATH around oct or nov 2021 ? until end of bull run?
pat11star
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@MuhammadAfizie, that my friend is a very good question. Honestly, I don't know only time will tell. Mainly because if we compare DENT price action with other crypto currencies, some have already broken their 2017-2018 ATH and currently on the look out for a steady support for a strong move up. Example would be ADA and VET.
Factors that I'm looking at that would drive DENT's price to reach its 2017-2018 ATH are: BTC's historic move up to 100k plus, ETH's upgrades and token burn, Travel Restrictions Lifted - increasing Mobile Data Usage for Travelers, and the Overall DENT chart pattern - U shape - as current price seen on the bottom of the chart.
paniashvili
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@pat11star I don't see any token burn that could occur. In fact, what I can see is that Dent is selling their tokens to keep their project alive. You could see how circulating supply is being increased on the weekly basis. Given that total supply is not available, it is almost impossible to predict as to where we are headed with this thing.
pat11star
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@paniashvili, thanks for the comment. Just for clarification, DENT isn't the one doing the burning. ETH is the one doing the burning as part of its initiative to lower down
gas fees. AS DENT is part of the ETH network it may benefit DENT as projects linked with the ETH network will also benefit in the low gas fee transaction and see as valuable.
Ciculating supply increases, due to long term holders of the coin taking this time to unload their DENT, short term traders or some long term traders doing panic selling/making a quick profit by shorting the crypto as well which adds to that downward pressure. Total Supply of 100,000,000,000 DENT was sourced from CoinMarketCap to have at least a basis on the overall supply for this coin market, for us to reach .10 market capitalization has to reach 9-10 billion market capitalization in this final phase of the bull run. More than that then we may see the price reaching all time high.
paniashvili
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@pat11star, Thanks for the reply. Some interesting points that you've got there. Today's daily green candle close might give us some hope that the reverse will happen sooner than later. I've entered long position @ 0.023900
blowtrix
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@paniashvili, Just hold, we will get to 0.03 - 0.05 in the next run. Just a few weeks.
paniashvili
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@blowtrix, What a promising green candle we've got on the 4H chart. Hope this to be a trigger, it has everything for that to happen.