DESO - Strong Basics - Hidden Gem?
Greetings Everyone,
Looking at DESO - DEcentralized SOcial - They claim to be the first blockchain built for the purpose of serving as a decentralized social platform and seems to have achieved a lot of milestones in your road map. The user base compared to big projects like internet computer seems low but the progress on this blockchain for SoFi seems to be most advanced. Perhaps if they invest a bit more on blockchain viewer and marketing, the user base shall grow significantly quickly.
Back to the analysis
- This is listed on Coinbase and HTX
- Total coin supply is only 11M
- Market Cap is under $100M
- The coin has been in accumulation phase for a year and had a breakout recently
If SoFi gets it phase during any part of the next bull run, this will be one of the front runners.
After the breakout, currently it is creating a flat top and ascending bottom wedge pattern which favors better probability for bulls. And a small market cap like this has a potential for 100x growth over the next few months.
Note: This is not financial advise and shall only be used for educational and/or entertainment purpose.
Looking at DESO - DEcentralized SOcial - They claim to be the first blockchain built for the purpose of serving as a decentralized social platform and seems to have achieved a lot of milestones in your road map. The user base compared to big projects like internet computer seems low but the progress on this blockchain for SoFi seems to be most advanced. Perhaps if they invest a bit more on blockchain viewer and marketing, the user base shall grow significantly quickly.
Back to the analysis
- This is listed on Coinbase and HTX
- Total coin supply is only 11M
- Market Cap is under $100M
- The coin has been in accumulation phase for a year and had a breakout recently
If SoFi gets it phase during any part of the next bull run, this will be one of the front runners.
After the breakout, currently it is creating a flat top and ascending bottom wedge pattern which favors better probability for bulls. And a small market cap like this has a potential for 100x growth over the next few months.
Note: This is not financial advise and shall only be used for educational and/or entertainment purpose.
Comment:
Update Dec 4, 2023 - The pair is still following the bullish pattern we identified. With recent BTC breakdown confirmed, we expect a breakout here as well. Usually Alts trade sideways while BTC moves up. Once BTC stabilize, Alts tend to move up.
