Tokens that support the Decentralized Physical Infrastructure Network (DePIN) are emerging as notable assets in the market today. These cryptocurrencies encourage the creation and maintenance of physical infrastructure on decentralized platforms.
Lumerin (LMR), Destra Network (DSYNC), AIOZ Network (AIOZ), StorX Network (SRX) and Storj (STORJ) are some of the DePIN coins that promise returns in the next 8 months.
Destra Network (DSYNC) sees double-digit gains, heading higher
Destra Network provides decentralized cloud solutions. The value of its native token, DSYNC, has increased by 33% in the past seven days. It now ranks among the DePin coins with the highest gains over that period.
DSYNC/USDT Daily Chart | Source: TradingView
Judging by the daily chart, its price movement shows that the recent rally is supported by real demand for the altcoin. This is evidenced by the rising Relative Strength Index (RSI). As of this writing, the key momentum indicator is at 65.14 and in an uptrend.
RSI measures overbought and oversold conditions of an asset. At 65.14, DSYNC's buying pressure is significantly greater than selling pressure.
If DSYNC continues to enjoy demand from market participants, its next price target is $0.36, the highest it last traded at in May.
Lumerin (LMR) trades above a key moving average
Lumeric (LMR) is a layer platform technology that uses smart contracts to control how peer-to-peer (P2P) data streams are directed, accessed, and transacted. LMR has attracted significant attention over the past week, with a gain of nearly 30%.
LMR/USDT Daily Chart | Source: TradingView
Increased demand for the token has pushed its price above the 20-day exponential moving average (EMA), which measures its average price over the past 20 days.
When the price of an asset rises above this key moving average, it signals increased buying pressure and is often an indicator of continued upside.
If LMR maintains the uptrend, its price will rise to $0.033.AIOZ Network (AIOZ) moves inside the ascending channel
AIOZ Network operates as a decentralized platform, using a global network of nodes to deliver content cheaper, faster and more securely. The platform is powered by the AIOZ token, the value of which has increased by 22% in the past week. At the time of writing, the token is trading at $0.58.
AIOZ/USDT Daily Chart | Source: TradingView
AIOZ price has formed an ascending channel on the daily chart. This bullish pattern occurs when the price moves between two parallel lines sloping up. The upper line acts as resistance, while the lower line acts as support.
At the time of writing, AIOZ's Aroon indicator shows a bullish trend. The Aroon indicator measures trend strength and identifies potential reversal points. When Aroon is at or near 100, it shows a strong uptrend.
If this DePin token maintains the uptrend in the ascending channel, its price will rise to the $0.63 resistance level.
However, if the current trend changes direction and AIOZ starts to trend down, it can drop to $0.53.
Storj (STORJ) flashes a buy signal
STORJ, the native token of open source cloud storage platform Storj, has issued a buy signal. This assessment is based on negative values in the altcoin MVRV index when viewed across various moving averages.
The MVRV of an asset measures the ratio between the current price of that asset and the average price at which all of that asset's coins were purchased. When this value is below zero, the current market value of that asset is less than the price at which most investors bought it. This signals the asset is undervalued and presents a good buying opportunity.
STORJ MVRV Index | Source: Santiment
According to Santiment, STORJ's MVRV ratios for the 30-day and 365-day moving averages at the time of writing were -3.05% and -40.12%, respectively.
A spike in demand for STORJ at current price levels could fuel the uptrend. If this happens, the token's next price target is $0.50.
STORJ/USDT Daily Chart | Source: TradingView
For context, the altcoin is currently trading at $0.43, meaning it has the potential to rise another 16%.
StorX Network (SRX) rises to its highest level in the month
StorX Network is also a decentralized cloud storage network. Its native token, SRX, has seen a 10% increase over the past week. Currently, it is trading at $0.60, its highest level in the past month.
SRX/USDT Daily Chart | Source: TradingView
This token is currently in a strong uptrend, as shown by the 0.0081 value of the Elder-Ray indicator. This indicator measures the relationship between the power of buyers and sellers in the market. When its value is positive, it means that the power of buyers is dominant in the market.
If bulls still prevail, SRX's next price target is $0.076, the highest it last traded at in October 2023.
You can see the coin price here.
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