Dymension (DYM) is in decline: What's going on?

Dymension (DYM) has fallen nearly 15 percent since Avail’s announcement regarding the airdrop.

Dymension (DYM), one of Cosmos Hub’s newest projects, suffered a decline after losing the airdrop hype. Modular blockchain Avail announced that DYM staking is not a criterion for airdrop distribution.

This announcement quickly spread on social media and negatively affected the DYM price. Investors who turned to DYM in anticipation of the airdrop made panic sales. Investors who bought DYM from the bottom region made profit sales.

Will DYM, which has lost 15 percent of its value since Avail’s announcement, recover?

## Dymension (DYM), karamsar havadan kurtulabilir mi?

Modular blockchain Avail, which is preparing to enter the crypto market, caused Dymension (DYM) to decline with its announcement. The Avail team stated that DYM staking is not among the staking criteria.

Crypto investors shared Avail’s announcement on the social media platform and created a busy agenda. Shares on social media caused the perception that DYM stakers would no longer be able to receive airdrops. DYM, which has a pessimistic atmosphere, has experienced a decrease of 15% since the evening of February 21.

Lmao no $AVAIL for $DYM Stakers? Aight we move on pic.twitter.com/8iAld0SZjM

— Matt.sol ♦️ (@Mattsol3) February 23, 2024

The fact that a large project like Avail will not airdrop also reduced the staking interest in DYM. DYM, which continued its decline with the increase in profit sales, fell to $ 5.90. Even though DYM managed to rise above $6 during the day, it could not escape the pessimistic atmosphere.

DYM managed to hold on to the $6.1 support. DYM, which is trying to stay in this region permanently, may rise up to $6.5 in a short time if it gives a recovery signal. The popular cryptocurrency could test the resistance at $6,975 if it reaches $6.5. It does not seem easy to overcome this resistance point. DYM may rise to the $7.3 resistance if it surpasses $6.975. The next resistance points for DYM will be $7.7 and $8.3.

On the other hand, if DYM continues its downward trend, it may lose its support of $6.1. If it loses the $6.1 support, the price may drop to $5.6 in a short time. DYM’s major support point will be $5.

Dymension, located in Cosmos Hub, is not just an airdrop of Avail. When this agenda that leads to profit selling passes, a recovery may be seen on the DYM side. The Cosmos ecosystem is still shown as the pioneer of the stakedrop craze. For this reason, DYM may airdrop other projects to stakers in the future.