This is 5 DePin coin that can skyrocket in August

Tokens supporting the Decentralized Physical Infrastructure Network (DePIN) are emerging as notable assets in the current market. 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 promising DePIN tokens expected to bring profits in the next 8 months.

Destra Network (DSYNC) witnesses double-digit growth, aiming for higher levels

Destra Network provides a decentralized cloud solution. Its native token value, DSYNC, has increased by 33% in the past seven days. Currently, it is ranked among the DePin tokens with the highest growth rate during that period.

DSYNC/USDT daily chart | Source: TradingView

According to the daily chart assessment, its price volatility indicates that the recent price increase is supported by actual demand for altcoins. This is evidenced by the rising Relative Strength Index (RSI). At the time of writing, the main momentum indicator is at 65.14 and is trending upwards.

RSI measures the overbought and oversold conditions of an asset. At 65.14, the buying pressure of DSYNC significantly exceeds the selling pressure.

If DSYNC continues to enjoy demand from market participants, its next price target is $0.36, the highest level it traded at last in May.

Lumerin (LMR) trading on the moving average line

Lumeric (LMR) is a layer platform technology using smart contracts to control how peer-to-peer (P2P) data streams are routed, accessed, and traded. LMR has attracted significant attention in the past week, with an increase of nearly 30%.

LMR/USDT Daily Chart | Source: TradingView

Increasing demand for the token has pushed its price up above the 20-day exponential moving average (EMA), its average price over the past 20 days.

When the price of an asset rises above this key moving average, it signals increasing buying pressure and often indicates a continuation of the uptrend.

If LMR maintains its upward trend, its price will increase to $0.033.

AIOZ Network (AIOZ) moving inside ascending channel

AIOZ Network operates as a decentralized platform, utilizing a global network of nodes to provide content at a cheaper, faster, and safer cost. This platform is backed by the AIOZ token, which has increased by 22% in the past week. At the time of writing, this token is trading at $0.58.

AIOZ/USDT daily chart | Source: TradingView

AIOZ price has formed an ascending channel on the daily chart. This price increase pattern occurs when the price moves between two parallel lines sloping upwards. The upper line acts as a resistance level, while the lower line acts as a support level.

At the time of writing, AIOZ's Aroon indicator shows an upward trend. The Aroon indicator measures the strength of the trend and identifies potential reversal points. When Aroon is at 100 or near 100, it indicates a strong upward trend.

If this DePin token maintains an upward trend in the ascending channel, its price will rise to the resistance level of $0.63.

However, if the current trend changes direction and AIOZ starts to trend downwards, it could drop to $0.53.

Storj (STORJ) flashing buy signal

STORJ, the native token of Storj open-source cloud storage platform, has issued a buy signal. This assessment is based on negative values in the altcoin's MVRV index when viewed through different moving averages.

MVRV of an asset measures the ratio between the current price of the asset and the average price at which all the coins of that asset were bought. When this value is below 0, the current market value of the asset is lower than the price at which most investors bought it. This signals that the asset is being priced low and presents a good buying opportunity.

STORJ's MVRV ratio | Source: Santiment

According to Santiment, STORJ's MVRV ratio for 30-day and 365-day moving averages at the time of writing are -3.05% and -40.12% respectively.

The surge in demand for STORJ at the current price level may drive the upward trend. If this happens, the next price target for the token is $0.50.

STORJ/USDT daily chart | Source: TradingView

To understand the context better, altcoin is currently trading at $0.43, meaning it has the potential to increase by 16%.

StorX Network (SRX) reaches highest level in the month

StorX Network is also a decentralized cloud storage network. Its native token, SRX, has seen a 10% increase in the past week. Currently, it is trading at $0.60, the highest level in the past month.

SRX/USDT daily chart | Source: TradingView

This token is currently showing a strong upward trend, as evidenced by the value of 0.0081 of the Elder-Ray indicator. This indicator measures the relationship between the buying and selling power in the market. When its value is positive, it means that the buying side is dominating the market.

If the bull camp still dominates, the next price target for SRX is $0.076, the highest level it last traded in October 2023.

You can check the coin price here.

Disclaimer: The article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

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According to Beincrypto