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- 1 DODO whales were rapidly building long positions in DODO as reported by Hyblock.
- 2 The bulls in the DODO coin have pushed past major resistance levels of the last year.
- 3 The protocol has facilitated over $200 billion in trading volume since its inception.
DODO (DODO/USDT) has recently introduced a dynamic slippage feature (DSF). This feature aims to improve the trading experience by providing users with more accurate slippage predictions.
That, in turn, reduces the likelihood of failed transactions and vulnerability to Miner Extractable Value (MEV) attacks. This advancement is a significant step towards the evolution of decentralized exchanges, offering a glimpse into the future of DeFi trading.
How can the DSF revolutionize the Crypto space?
The dynamic slippage feature represents a major shift in the way decentralized exchanges handle the issue of slippage. Slippage in trading refers to the difference between the expected price and the actual execution price. It can be a significant issue in cryptocurrency trading, often causing failed transactions or less favorable trade outcomes.
DODO’s dynamic slippage feature has a significant advantage in reducing the risks associated with MEV attacks. MEV is a term used to describe the profit that miners can make by manipulating transactions within a block. This can lead to unfair practices such as front-running and other trading manipulations that can harm regular users.
Proactive Approach of DODO
By implementing dynamic slippage, DODO is taking a proactive approach to avoid such vulnerabilities. The feature’s real-time and accurate slippage predictions make it more challenging for malicious actors to exploit transaction ordering.
It protects users from potential losses due to MEV attacks and contributes to a more secure and trustworthy trading environment on the DODO platform. DODO offers holders access to other utilities, such as crowd pooling, receiving IDO allocations, and trading fee discounts.
Technical Analysis and Prediction of the DODO Coin Price
During this August, the DODO coin price surged over 33% to $0.13 following Binance’s announcement of a DODO perpetual contract with up to 20x leverage. DODO tokens have risen over 28% in the past month. At the press time, the DODO coin is trading at $0.149 after surging.
The support levels are at $0.145 and $0.125 for the immediate and 2nd supports respectively. The resistance levels are at $0.172 and $0.1981. The RSI has spiked from the oversold level of 76 back at the start of December. Currently, it is near the neutral level.
Conclusion
The dynamic slippage feature represents a major shift in the way decentralized exchanges handle the issue of slippage. The DODO coin price has risen over 28% in the past month and it is currently on an uptrend.
Technical Levels
- Support Levels: $0.145 and $0.125
- Resistance Levels: $0.172 and $0.1981
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
