Several metaverse cryptocurrencies have been bullish as the crypto market traded sideways this week and one of the coins namely Dotmoovs (MOOV) has rallied by more than 228% today.
At press time $MOOV was trading at $0.02192 up 228.72% having hit a daily high of $0.02528. It has a trading volume of $6,725,055 and a market cap of $7,997,493.
This article explains the factors behind the current surge of Dotmovoovs (MOOV) price.
What Is Dotmoovs (MOOV)?
Before taking a deep dive into the current bullish trend, it’s important we first explain what Dotmoovs (MOOV) coin is.
Dotmoovs (MOOV) is the native cryptocurrency of Dotmoovs, a peer-to-peer sports competition platform with an Artificial Intelligence (AI) algorithm that offers incredible Metaverse competitions and rewards winners using MOOV tokens.
By using AI technology, Dotmoovs provides a play-to-Earn metaverse for users to participate in. At the moment, the platform has two types of sports: Dance with robust AI as the judge and freestyle football with an AI-powered referee to make judgments during competition.
Dotmoovs also has a marketplace where users can purchase and collect NFTs.
Why is Dotmoovs (MOOV) price rising?
The main reason for the current surge of MOOV price is the hype around the upcoming release of the Dance Section.
Once the Dance Section is launched, Dotmoovs’ users will be able to hold dance competitions and challenges within the app. It can be compared to TikTok and it will probably make Dotmoovs market valuation shoot to the moon.
Today, on a video released on Telegram, CEO & COO of @dotmoovs addressed the Dance release date on the app
If you missed it and want to find out when will the next sport be released, you have here the full transcription 👇https://t.co/lLMKR1oHkE pic.twitter.com/r9qPZhJmss
— dotmoovs (@dotmoovs) March 28, 2022
According to Dotmoovs’ team, the Dance feature will be launched during International Dance Day on the 29th of April this year.
With the current bullish trend, it is clear that the market is extremely excited about the release of the upcoming launch of the Dotmoons Dance section.