Why Is DENT Token Price Surging? Experts Eye Further Gains If It Breaks This Key Level
Dent (DENT), a blockchain-based global mobile data marketplace, has seen its token price surge over 30% in the last 24 hours. According to coinMarketCap data, DENT with a 30.23% uptick trades at $0.001869 with a 24-hour trading volume of $46,053,804.
Dent aims to liberalize the mobile data market by leveraging blockchain technology. The project offers eSIM cards, mobile data plans, call minutes top-ups, and an experience free from roaming charges.
Dent uses an Ethereum-based ERC-20 token to power its decentralized marketplace connecting telcos and users. The platform operates on a proof-of-stake model, relying on large token holders to act as nodes and validate transactions.
Contributors on X have pointed to positive developments for Dent driving the price breakout. Notably, trader Apollo V spotlighted a major technical breakout for Dent, tweeting that “DENT is on the verge of breaking out of its major resistance of 0.0021.” As Apollo points out, the last time Dent broke through this resistance was 3 years ago, which kicked off a 10x price surge within 30 days.
He also pointed to the upcoming launch of Dent’s blockchain for global telecommunications, DentNet, as a potential catalyst.
Additionally, Dent founder Thomas Dingler tweeted about the progress of DentNet, the project’s own blockchain telecommunications network. Dingler mentioned discussing potential partnerships and validator opportunities for DentNet at the 2024 Mobile World Congress event.
Crypto analyst Qudrat Nasiri sees even more upside for Dent from current levels, tweeting that the token has broken out of a falling wedge pattern on monthly timeframes. Nasiri set a 5x price target for Dent over the medium term.
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The upside price action, mainnet progress, and bullish analyst take suggest further growth may be ahead for the decentralized mobile data marketplace. As Dent expands its platform functionalities and partnerships, additional user adoption could also serve to boost DENT token values.
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