DENT price prediction: Will its grand plans make a mark?

The DENT token powers what is meant to be a telco disruptor. Is it due to climb in value?

DENT token standing between rolling dice – Photo: Shutterstock                                 
The DENT token powers a 'disruptive' blockchain platform with huge ambitions. Photo: Shutterstock
                                

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DENT was designed to cut the cost of mobile data and voice roaming, using the DENT token. As the system becomes more widely known, what sort of DENT price prediction can we make?

What is DENT?

The DENT token is the cryptocurrency powering the DENT infrastructure, based on the ERC-20 blockchain standard.

As an app built on Ethereum infrastructure, DENT aims to be a major disruptor in the mobile data market, “where users are able to freely buy, sell and donate their mobile data, from any user to any user,” according to its 2017 white paper.

The central ethos of the company is to employ blockchain technology to solve a massive problem inherent in mobile contracts: data-roaming charges.

Instead of being tied to extortionate roaming charges, users purchase data packages from a large network of "nodes", those nodes being individuals hoping to earn some DENT from their unused data allowances.

Gaining DENT works as an incentive for these nodes in a similar way to bitcoin (BTC) mining. However, DENT cannot currently be traded for fiat money; earned DENT can either be used for future data plans or donated as a gift.

DENT can be bought and traded on the regular crypto markets. It is only upon transferring them to your DENT account do they lose fiat exchangeability.

DENT does not seek to replace your existing telecommunications provider. Instead, it aims to work as a companion, whereby a globetrotter can seamlessly switch between their regular provider and the decentralised DENT network as-and-when needed.

 For a DENT price prediction, keep reading below.

Early stages

DENT underwent an initial coin offering (ICO) in 2017, raising $4.3m on the back of 70 billion tokens. The company retained the remaining 30 billion for operating expenses. This put the price of DENT at $0.00006 at the ICO stage.

A massive price spike in the January that followed saw bulls almost break the $0.10 mark. The market aligned itself in the next six months. The DENT price barely budged through 2019 and 2020, trading sideways between $0.0001-$0.0002.

But the token put on a good show in 2021, staying well above previous averages. That said, the volatility typical of low-value alt coins was on full display, making a valid DENT coin price prediction difficult. Closing trades fluctuated between $0.02 and $0.0002.

Where is DENT at now?

The DENT market cap as of mid-November was slightly above $601.1m, with a 24-hour trading volume of $72.6m. It is currently ranked number 177 by market cap on the crypto tables.

Trading price at the time of writing is $0.0059, a 5.69% uptrend from the previous closing price. Despite that, DENT is trading below moving averages, which could signal a bear trend.

Although any DENT crypto price prediction must take into account extensive alt-coin volatility, it could be noted that the market has been bullish. Bulls held the support line at the lower $0.005 mark twice in October, a figure DENT was still trading above on 22 November, to break the resistance line in early November.

It could be a good time to buy should you believe that the support line will not be breached. Do keep in mind that these figures are highly speculative and do not constitute official financial advice. Please conduct thorough research if you wish to invest.

Where is DENT going in 2022, 2025, even 2030?

Wallet Investor has a 12-month forecast of $0.0114. Looking at the DENT price prediction for 2025 and further, the forecaster expects strong returns on investment, with a possible 386.2% return over five years. Due to a slightly bearish last 30 days, short-term sentiment is neutral.

No online forecasters have an available DENT price prediction for 2030, but Digitalcoin has a target of $0.0265 by 2028. The forecaster's DENT price prediction for 2020 stands at a price point of $0.01.

Tradingbeasts.com is more conservative with its outlook, with a price target of $0.07 by the end of 2022 rising to $0.09 by the end of 2024. While sentiment is still rather bullish, these estimates represent a smaller year-on-year return.

FAQs

DENT could be a good investment. On average, most forecasters expect the token to rise in value in the short and long terms. The underlying DENT mobile data product could be the true determiner. If it lives up to its promises, it could become a mainstream piece of technology. Subsequently, the value of DENT should rise.

Regardless, any and all investments come with risk, particularly highly volatile alt-coin. Always be careful with your investment.

It looks very unlikely, at least not in the next 10 years. No forecaster has a $1 price point.

There is a good chance that DENT will continue to rise. After trading flat for years, more recent performance has been bullish, which is a good sign. Forecasters have a largely positive sentiment.

If you do decide to invest in DENT, please conduct thorough due diligence and never put more than you can afford to lose on the line.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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