Bitcoin is building strong support around $34,000 after posting significant gains in the past few weeks. A handful of altcoins have also gone up well in price during this time while many others are set to pump in the coming weeks. I have been doing some personal research and computing some altcoins that could appreciate well in the last quarter of the year. My first pick is DexCheck token (DCK).
DCK is the native token of DexCheck, an AI project with a focus on providing analytics data for cryptocurrency investors. Here’s a good article on this. I’ll go straight to why this token is set to post jaw-dropping gains in the next few weeks;
Why DexCheck Token Could See a 3X Increase in the Next Three Months
Long-term accumulation amidst volume swell
DexCheck (DCK) has been in a consolidation phase for an extended period, trading within the range of $0.02 to $0.045 over the past three months. Despite this period of stability, the daily trading volume has consistently exceeded $200,000 on average, signaling strong market interest and sustained price fluctuations.
The accumulation pattern during this consolidation phase appears to be leading to a potential uptrend. Given the extended consolidation period, there is a strong possibility that this uptrend could be more sustained than the previous ones. This suggests the potential for up to a 300% increase in the price over the next three months, placing it at around $0.06.
DCK has established strong support around $0.02, just slightly above its all-time low. Despite occasional drops below this level, the token has consistently reclaimed this support. Unless significant market shifts occur, it is unlikely to drop below this level. DexCheck’s price recovery is contingent on market stability, particularly Bitcoin, which ideally should remain above $27,000 during this time.
A price of $0.06 would give DexCheck a fully diluted valuation of just $6 million, leaving significant room for growth for a functioning decentralized application.
Low Market Cap and the Potential for an Altcoin Season
The cryptocurrency market is poised for potential significant shifts, especially with the prospect of the first Bitcoin Exchange-Traded Fund (ETF) on the horizon. While predicting such developments is speculative, recent Bitcoin gains have been linked to ETF rumors, hinting at a possible altcoin season.
If Bitcoin experiences substantial positive movement, DCK is positioned to benefit. Given its strong fundamentals and relatively modest market capitalization, it has the potential to outperform the broader market. It’s worth noting that small-cap and mid-cap projects have historically been among the most significant gainers in bull markets.
Exciting Updates on the Horizon
DexCheck has an exciting roadmap for the last quarter of 2023. Notable upcoming features include the Sniper bot and the Staking program in partnership with Kucoin. DexCheck also introduced a new staking pool for the DCK token, offering up to a 36% Annual Percentage Yield (APY) for token holders. In addition to this, DexCheck has announced an Initial Private Sale Offering (IPSO) feature, allowing DCK token stakers to invest in new crypto projects before they become publicly available. This feature not only benefits token holders but also bolsters the utility of the DCK token.
The beta version of the Smartfolio Telegram Bot has been launched, with additional releases planned for the last quarter of the year. These updates demonstrate DexCheck’s commitment to continuous improvement and innovation.
In conclusion, predicting price movements in the cryptocurrency market is challenging. However, DexCheck’s extensive consolidation period, robust technological fundamentals, exciting updates on the horizon, strategic partnerships, and low market capitalization make it a noteworthy candidate for a potential bull run. While a 3X increase in the short term is conceivable, investors should conduct thorough research and employ risk management strategies when considering any investment in the crypto space.