Decentralized Physical Infrastructure Network (DePIN) Tokens Emerging as Valuable Assets in the Market
The cryptocurrency market is abuzz with tokens supporting the Decentralized Physical Infrastructure Network (DePIN). These digital assets offer incentives for the creation and maintenance of physical infrastructure on decentralized platforms. Among the DePIN coins gaining traction are Lumerin (LMR), Destra Network (DSYNC), AIOZ Network (AIOZ), STORX Network (SRX), and STORJ.
Destra Network (DSYNC) Eyes Double-Digit Profit Surge
One of the standout performers in the DePIN space is Destra Network, which provides decentralized cloud solutions. Its native token DSYNC has seen a remarkable 33% increase in value over the past week. The surge in price is backed by real demand for altcoins, as indicated by the rising Relative Strength Index (RSI) currently at 65.14.
If the buying pressure for DSYNC continues, the next price target could be $0.36, a level last seen in May.
Lumerin (LMR) Trading Above Key Moving Averages
Lumerin (LMR) is gaining attention as a base layer technology facilitating peer-to-peer data flows through smart contracts. The token has seen a 28% price increase in the past week, pushing it above the 20-day exponential moving average (EMA). This signals increasing buying pressure and potential for further price appreciation.
If LMR sustains its upward momentum, it could reach $0.033 in the near term.
AIOZ Network (AIOZ) Trends Within an Ascending Channel
AIOZ Network operates as a decentralized content delivery platform, utilizing a global network of nodes. The AIOZ token has surged by 22% in the past week and is currently trading at $0.58. The price chart shows an ascending channel pattern, indicating a strong uptrend with potential resistance at $0.63 and support at $0.53.
STORJ Flashes Buy Signal, Eyes Price Surge
STORJ, the token of open-source cloud storage platform STORJ, has signaled a buy opportunity based on its Market Value to Realized Value (MVRV) ratio. The current MVRV ratios point to an undervalued asset, with the potential to reach $0.50 in price. STORJ is currently trading at $0.43.
StorX Network (SRX) Hits New Monthly High
StorX Network, a decentralized cloud storage platform, has seen its native token SRX surge by 10% in the past week, reaching its highest monthly price of $0.60. The positive Elder Ray Index indicates a strong bullish bias, with a potential price target of $0.062 if bullish momentum continues.
