I could draw a couple of TA charts to prove that a token is about to go 10x in the next few hours, yeah, these things don’t happen like that most times. So, this is not what I’m about to do. But I will be sharing my pick for the next run. With bitcoin sitting above $34,000 after some impressive gains, it is expected that altcoins will follow suit, also, the Fear and Greed Index is turning green and the whole market might move again soon.
Alright, no long talks, here’s my pick – the DexCheck token. I did a guide on how to use the Telegram bots in the DexCheck ecosystem a while ago and it's one you need to check out. DexCheck’s fundamentals are quite solid, an interbreed of Artificial Intelligence and Decentralized finance (DeFi). The technology is impressive as well. But on economic grounds, these are not the only reasons why I am projecting it to 3X its current price within the next three months. Note that this is not financial advice. Always do your own research.
DCK token has been trading between $0.045 and $0.02 for the past three months. During this period, the daily trading volume has stayed above $200,000 on average. The strong market interest and balanced price fluctuation are strong indicators of long-term accumulation and consolidation. Despite the fact that DexCheck has made significant breakthroughs during this period, the price has remained stable around this range.
It is also interesting that the accumulation pattern followed the short-term pump in the early weeks of October 2023. The chart looks like it is headed for another uptrend. Due to the long accumulation period, this could last longer than the last two peaks. This translates to up to 300% gain in the next three months and would place the price somewhere around $0.06.
DCK token has shown built a strong support around $0.02 which is just a little above the recorded All time low. Despite intermittent drops to levels below 0.02 in the past few days, it has swiftly reclaimed the support level each time. Therefore it is very unlikely that it will drop below this level. How the rest of the market moves might affect this, but if Bitcoin remains stable and doesn’t go below $27,000 during this time, DCK could be on its route to price recovery in the last quarter of the year or early in the first quarter of 2024.
A price of $0.06 puts the whole project at an FDV of just $6 million and a total market capitalization a little below that. For a decentralized application that actually works, there is still so much room to grow at $6 million.
I took the time to go through the features on DexCheck. It is easy to draw up a prototype but harder to develop an application that works as stated on paper. DexCheck runs as stated and the positive first impression was sustained throughout the times I used the application. From the smart contract token analytics to the trader and wallet analytics to the advanced Telegram Bot and the AI-powered InsightGPT. Each application leaves you coming back for more.
DexCheck’s Telegram bot has grown to over 2,500 active users in the past three months. This growth is continuous and is proof that other investors are buying up the idea. Even though other Telegram bots have seen significant growth as well, DexCheck seems to be catching up faster, relatively. With this growth pattern, it is striving to be a major force in the AI and trading bot narrative. AI and trading bot projects, both could experience another wave. DexCheck fits into both narratives, coupled with the current low capitalization. DexCheck is one to watch going into the last months of the year. The number of DCK token holders has also grown to over 4,800 at the time of writing, showing strong signs of adoption.
I took a look at the DexCheck roadmap and it looks packed for the future, the last quarter of the year will surely see many exciting releases the AI-DexFolio and the AI-arbitrage scanner are some of the new features I am looking forward to. It is interesting to see how the project employs Artificial Intelligence in these two new features.
DexCheck announced a new staking pool for the DexCheck token with up to 36% APY. DCK token Holders can earn some good rewards by locking up their tokens in the pool. But this is actually the least update from the project. DexCheck has announced a handful of exciting updates.
I’m personally excited about the Initial Private Sale Offering (IPSO) feature. IPSO is a launchpad for new crypto projects powered by DexCheck. IPSO allows investors to buy into new projects before they start trading openly. This is reserved for DCK token stakers and is another way the project attempts to boost the utility of its native token. DCK holders can now invest in promising projects before anyone else and enjoy the full privileges.
The Beta version of the Smartfolio feature has also been launched and the roadmap hints at even more exciting releases in the last quarter of the year. On the technological grounds, this is good news for the project and the investors. how this affects the DCK token price depends on how the rest of the community reacts to the update, but price growth is likely if the new features work as promised.
Between October, 10 and October 20, 2023, DexCheck has announced a handful of very interesting partnerships on marketing and technological grounds and doesn’t show signs of stopping any time soon! First, the marketing partnership with Kucoin Exchange is set to run for a couple of weeks. We will see the DexCheck token and project being marketed to traders on the exchange during this period of time, this could grow traders’ and users’ interest and an overall growth in the token value is not out of the line.
Apart from marketing partnerships, DexCheck has partnered with USDD to bring the stablecoin to the platform, as part of this partnership, USDD will also integrate the DexCheck trading bot into their platform. With the two projects pursuing mutual growth, we could see some benefits from this partnership. The partnership between DexCheck and Syncswap will also enable DexCheck to make an entry into the ZkSync Era network. This follows the expansion into the Binance Smart Chain.
DexCheck has also announced a partnership with InterSwap to bring more AMMs into the platform. DexCheck is growing its community by expanding into new communities. This is yielding returns in terms of adoption, it is only a matter of time before the DCK token catches up to these developments too.
The first Bitcoin ETF could be around the corner and the last quarter of the year could be the time. This is a wild guess, but has some backing to it, judging from how things have unfolded in the financial space. The recent BTC gains are majorly due to rumors around the ETF filling. If BTC continues to move we could go into a major ALT season.
Bitcoin ETF as a factor here is from the widely known “bitcoin pumps and others follow” pattern. If Bitcoin finally moves big, the DexCheck token will be one of the best-positioned assets to move even harder. The Bitcoin effect is hardly avoidable, the whole space appears to be tied to its movement and the DexCheck token isn’t different. If Bitcoin moves, DCK is the token to watch closely, this is not only due to the fundamentals (which are quite strong) but also due to the relatively ‘tiny’ market capitalization.
Over the years, small-cap and mid-cap projects have turned out to be the biggest gainers in every bull run. For a conservative guess, I’d say 300% (3X) in the short term is feasible, for an optimistic guess, we could be looking at 10X to 100X in a few months. This is however not financial advice, it is important to do your own research and apply risk-management strategies as much as possible.
Predicting price developments for crypto assets is tough. Fundamentals are the best bet, but this could also go south. DexCheck is being run by a dedicated team, which is one of the most important clues for investors. While the team strives to grow the project, the market could also react differently or less than expected to some new developments. However, if the market stays stable and alts get to run in the next few weeks, DexCheck is well positioned for another good run.
By holding out on its support for the past few months and printing some good volume over this time, it has spent a relatively long period of time in consolidation and could be set to move upwards with an energy higher than the last pump it had. That being said, always do your own research before investing.
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