DODO Launches DODOchain An Omni-Trading Layer3 Solution

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Apr 22 2024

DODO+0.685%

L3+2.33%

ARB-3.528%

Should l Buy DODO?

DODOchain Launch: DODO, a decentralized exchange, introduces DODOchain, a Layer3 solution powered by Arbitrum Orbit, EigenLayer, and AltLayer to facilitate trading across different blockchains.
Features of DODO V2: DODO offers Proactive Market Maker algorithm, liquidity pools for mainstream assets, stablecoins, and altcoins, and various user groups like traders and market makers.
Success Metrics: DODO has processed over 24 million transactions, has 3.31 million users, and a total trading volume exceeding $141 billion across 14 mainnets.
Challenges in Layer2 Solutions: Obstacles include fragmented liquidity, high operation costs, security concerns with cross-chain bridges, and communication difficulties with various blockchains.
Partnerships for DODOchain: DODO partners with Arbitrum Orbit, Eigenlayer, and AltLayer to enhance scalability, efficiency, and security for cross-chain trading and liquidity sharing.

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Technical Analysis for DODO

Technical Sentiment Analysis for DODO (DODO) As of , DODO (DODO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DODO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, DODO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

DODO (DODO) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00767	0.0101	0.0129	0.0153	0.0181	0.0205	0.0233
Fibonacci	0.0101	0.0121	0.0133	0.0153	0.0173	0.0185	0.0205

About DODO

DODO is a DeFi protocoldecentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM).The PMM pricing mechanism, which mimics human trading, utilizes oracles to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of liquidity providers (LP), lower price slippage and negate impermanent loss by allowing arbitrage trading as reward.DODO also caters for new crypto projects with a free ICO listing through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens.DODO’s smart contract operates as an ERC20 token on the Ethereum network.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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