Trump Links & Investor Buzz Surround Dolomite Price Action

Dolomite Price Drops After Binance Listing Amid High Volume

Binance officially added Dolomite (DOLO) to the following Binance major services, Simple Earn, Convert, Buy Crypto, and Margin. The announcement was met with a short-lived rise in Dolomite price to above $0.30 before reversing to $0.20242.

It was listed live on August 27 and at 16:00 UTC, DOLO appeared on major platforms within the hour. The token is now live for:

• Flexible Earn Products on Binance Simple Earn
  

• Buy Crypto using VISA, Mastercard, Google Pay, Apple Pay, and Revolut
  

• Binance Convert, with zero fees on DOLO/BTC, DOLO/USDT, and other pairs
  

• Margin trading, with DOLO now a borrowable asset on both Cross and Isolated Margin
  

The listing is made under the Binance HODLer Airdrops program, in which qualified BNB holders were airdropped with DOLO tokens. Users that had subscribed to BNB Simple Earn or On-Chain Yields were rewarded according to previous balances.

Dolomite Gains Attention from Investors as Market Activity Increases

After the Binance news, Dolomite price shot up almost 80% to about $0.43 before stabilising at about $0.20. This fluctuation drew traders and investors, particularly when the token gained more exposure on major exchanges.

Strong DeFi product base and media buzz have supported DOLO in terms of market power. It is an Ethereum-based spot trading, margin trading and over-collateralised lending protocol with virtual liquidity tools to achieve capital efficiency.

To further speculation, Corey Caplan, Dolomite head, is also the CTO of World Liberty Financial, a crypto project being funded by Donald Trump. No direct mention proves the involvement of Trump with Dolomite, but the connection has provoked curiosity.

Dolomite, in the meantime, gained high-profile supporters in 2024, such as Coinbase Ventures, Arbitrum Foundation and Sandeep Nailwal. Such strategic investments assisted in raising more than $4 million in its initial funding round.

Technical Indicators Suggest DOLO Is Testing a Critical Price Zone

The altcoin price as of the last session is trading at $0.2018, with a -17.07% loss in the last 24 hours, which is a drastic decline under the support of the last few days. The price is currently below the 200 SMA, which was at $0.20141, indicating a possible weakness and leaving the possibility of additional negative pressure.

MACD is negative, and the line (-0.00687) is below the signal line (-0.00731), indicating that sellers are dominant. The histogram, however, shows that there is only mild downside pressure, with evidence of potential weakening bearish momentum.

Source: TradingView

RSI is at 39.30, which is in the bearish zone but nearing oversold, with the signal line at 46.79. This leaves room to be corrected further, but oversold conditions can cause a short-term price bounce.

Moreover, the Chaikin Money Flow (CMF) is considerably negative at -0.51, indicating a high level of capital outflows of the asset. This affirms that there is still a steady selling pressure, but a change of sentiment around support may trigger reversal efforts.

Price Outlook: Support and Resistance Levels to Watch

The Dolomite price remains below both the 50 SMA at approximately $0.232 and the 100 SMA at around $0.223, reflecting bearish short-term momentum. These moving averages have now become overhead resistance in case the price tries to rebound.

Should the 200 SMA hold, then the altcoin may have the next resistance points to be at $0.232 and $0.245, and then it may break out to the next point of resistance at $0.280. These areas have already been tested in the first post-listing rally, which means that there is a high interest.

But should the price fall below the 200 SMA, it may first fall to $0.195, then to $0.180, where increased demand might be seen. These are psychological levels at which traders might want to enter in particularly when oversold signals appear.