Yes. Dynamic type variable are run time variables which means that their value and type are defined at run time. Also, it is not necessary for a dynamic type to be initialized at complile time.
The below code snippet gives more insight about dynamic type variable:
dynamic var1 = "Hello"; //Here,the data type of variable var1 is string.
var1 = 1; //Now, the data type of vairable var1 is changed to int.