An experienced crypto analyst and trader known by the pseudonym moon He said the meme coin was named after the evolutionary biologist Richard Dawkinswhich is “Community Control”, is currently in the accumulation zone.
What happened: Dawcoins (CRYPTO: DAW) is trading at around $0.0016, which is at a major support level and will pave the way for a rise in value.
“With the current trading price trading around $0.0016, chart patterns and trading volumes suggest that the coin is consolidating at the support level. This could indicate a strong foundation for a potential uptrend, mirroring the early stages of previous highs,” Moon wrote in a message shared on Telegram. “.
“If current conditions persist, and investor sentiment remains bullish, Dawkoin could follow a 600% rally,” Moon continued. The main technical indicators are pointing towards the classic bull flag pattern, which is consolidating after a period of strong upward movement. If Dawkoin breaks above the current resistance level with significant volume, a path towards $0.0096 looks likely.”
Dawkins pays tribute to Richard Dawkins, the revered evolutionary biologist who had previously introduced the concept of the “meme” in his landmark 1976 work, “The Selfish Gene.”
In a tribute in keeping with his 83rd birthday, enthusiasts launched a meme coin as a nod to his contribution to cultural theory.
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why does it matter: Dawkins himself has acknowledged the creativity behind this symbol. Well, just imagine it,” he said in a tweet, “to celebrate my birthday, and coining the word 'meme', someone created a meme coin, Daocoin. I don't even know what that means, but it sounds interesting.
Tesla CEO Elon Musk was also tickled by Dawkins' post.
This comes as a trader was able to turn $3,000 worth of Dawkoins into $215,000 after the coin's market value rose to $15 million after outperforming. Dogecoin (Crypto: DOGE) and Shiba Inu (Encryption: SHIB).
Likewise, another individual made a staggering 7,467% profit, increasing his initial stake from $555 to over $42,000.
read the following: Here's How Much Should You Invest in a Shiba Inu Today for a $1 Million Payday If SHIB Hits a Dime?
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This article Inspiring Richard Dawkins Will Rise 600%? Crypto Analyst Points to 'Classic Bull Flag Pattern' in Key Technical Indicators originally appeared on Benzinga.com
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