dYdX (DYDX) Emerges as Top Performing Altcoin with 30% Rally — More Upside Ahead?

BE[IN]CRYPTO2024-12-06

DYDX’s social dominance jumped to 0.59%, reflecting growing market interest that could drive further price gains. A drop in the Mean Dollar Invested Age suggests renewed trading activity, supporting ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\ndYdX (DYDX) Emerges as Top Performing Altcoin with 30% Rally — More Upside Ahead?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-06 19:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/dydx-emerges-top-performing-altcoin/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DYDX’s social dominance jumped to 0.59%, reflecting growing market interest that could drive further price gains.\nA drop in the Mean Dollar Invested Age suggests renewed trading activity, supporting ...</p>\n\n<a href=\"https://beincrypto.com/dydx-emerges-top-performing-altcoin/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MDIA","symbol_name":"Mediaco Holding Inc.","start_time":0,"source_url":"https://beincrypto.com/dydx-emerges-top-performing-altcoin/","article_id":"2489728294","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/04/bic_dYdX_6-covers_neutral-850x478.jpg.webp"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489728294","pubTimestamp":1733484600,"columns":[],"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"DYDX’s social dominance jumped to 0.59%, reflecting growing market interest that could drive further price gains.A drop in the Mean Dollar Invested Age suggests renewed trading activity, supporting DYDX’s bullish outlook.If the breakout holds, DYDX could rally to $4.53. However, rising selling pressure might pull the altcoin to $1.56.DYDX, the native token of decentralized trading platform dYdX, has become the top-performing altcoin in the last 24 hours. According to CoinGecko, DYDX rallied to this peak after the price increased by 30%.As a result, it outperformed altcoins, including Bitget Token  and Virtuals Protocol . Here is how it happened and what could be next for the token.24 hours ago, DYDX price was $1.82. But in the early trading session today, the cryptocurrency’s value rallied to $2.48, becoming the top-performing altcoin out of the top 100. While the price has slightly retraced to $2.34, Santiment data shows that the market is significantly interested in it.However, the a","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MDIA":"Mediaco Holding Inc.","BGB":"BLACKSTONE STRATEGIC CREDIT 2027 TERM FUND","BK4125":"广播"},"translate_title":"dYdX(DYDX)以30%的涨幅成为表现最好的山寨币——未来还有更多上涨空间吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BGB":1,"MDIA":1},"content_text":"DYDX’s social dominance jumped to 0.59%, reflecting growing market interest that could drive further price gains.\nA drop in the Mean Dollar Invested Age suggests renewed trading activity, supporting DYDX’s bullish outlook.\nIf the breakout holds, DYDX could rally to $4.53. However, rising selling pressure might pull the altcoin to $1.56.\n\nDYDX, the native token of decentralized trading platform dYdX, has become the top-performing altcoin in the last 24 hours. According to CoinGecko, DYDX rallied to this peak after the price increased by 30%.\nAs a result, it outperformed altcoins, including Bitget Token (BGB) and Virtuals Protocol (VIRTUAL). Here is how it happened and what could be next for the token.\nInterest in dYdX Reaches Extremely High Levels\n24 hours ago, DYDX price was $1.82. But in the early trading session today, the cryptocurrency’s value rallied to $2.48, becoming the top-performing altcoin out of the top 100. While the price has slightly retraced to $2.34, Santiment data shows that the market is significantly interested in it.\nOne metric that proves this is social dominance. Social dominance measures the percentage of discussions in crypto-related media that mention a specific asset or keyword. This metric provides insights into the relative popularity or attention an asset receives compared to others. \nWhen the metric increases, it means that there are more conversations about the cryptocurrency relative to others in the top 100. On the other hand, a decline indicates otherwise. As of this writing, DYDX’s social dominance has spiked to 0.59%.\ndYdX Social Dominance. Source: Santiment \nIf Social Dominance continues to rise, it could signal increased demand for the altcoin, potentially driving its price to rebound toward $2.48. Supporting this outlook, the Mean Dollar Invested Age (MDIA) also indicates growing market activity.\nMDIA measures the average age of all dollars invested in a cryptocurrency and can reflect market phases. Typically, a rising MDIA suggests token stagnation, often inhibiting price growth. \nHowever, Santiment data shows that MDIA has recently declined, signaling increased trading activity as previously dormant tokens are now circulating. This trend could further bolster the altcoin’s recovery potential.\ndYdX Mean Dollar Invested Age. Source: Santiment \nDYDX Price Prediction: $4 Coming?\nAccording to the 3-day chart, DYDX’s position as the top-performing altcoin resulted from a break out of the descending triangle.\nA descending triangle is a bearish pattern frequently defined by a falling upper trendline connecting a series of lower highs and a horizontal lower trendline serving as support. This pattern indicates weakening buying pressure and a likelihood of a breakdown below the horizontal support level, signaling a potential continuation of a downward trend.\ndYdX 3-Day Analysis. Source: TradingView \nHowever, the altcoin broke out of the upper trendline, invalidating the bearish prediction. Should this be the case, then DYDX’s value could rally to $4.53. On the flip side, if selling pressure rises and trading volume drops, the trend might reverse, and the DYDX may lose its place as the top-performing altcoin.\n\n\n\n\n🎄Best crypto platforms in Europe | December 2024\n\n\n\neToro\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\n\n\n\n🎄Best crypto platforms in Europe | December 2024\n\n\neToro\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\n3Commas","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489728294"}