Dypius price caught everyone’s attention with a 91% surge on Friday. The positive price action comes on a day when Bitcoin price is down 0.41%. Nevertheless, on a high timeframe, Dypius is still down 96% from its all-time high.
The recent contract change has made things complicated for the holders of DYP crypto. The new contract gave 6 times more tokens to the holders of the ERC-20 DYP tokens. However, the holders of the Avalanche and Binance Smart Chain swapped at 1:1 ratio.
As a result, there are two versions of DYP which are trading on exchanges. The older version is the one whose price exploded today as the trading volume surged. More than $20 million worth of Dypius has been traded today. Most of the trading has occurred on Coinbase which is the biggest crypto exchange in the US.
On the other hand, the new version of the coin is trading at $0.045. Most of the centralized exchanges have swapped the old tokens with new ones, except for Coinbase. This has made the price action pretty convoluted, to say the least.
Technical analysis indicates that the newly launched Dypius (DYP price has been trading within a specific range since the token swap occurred. The following chart shows the price action on the hourly timeframe within the $0.035-$0.05 trading range. I will be cautious to make any price prediction at the moment as it has very little price history.
Nevertheless, a breakout above $0.05 will be very bullish for the altcoin as this level is the highest point of the current trading range.
