A seasoned crypto analyst and trader known by the pseudonym Moon said that a meme coin named after evolutionary biologist Richard Dawkins, which is a “community take over”, is currently in the accumulation zone.
What Happened: Dawkoins (CRYPTO: DAW) is trading at roughly $0.0016, is at a key support level, and will set the stage for an upward climb in value.
“With its current trading price hovering around $0.0016, chart patterns and trading volumes suggest the coin is consolidating at a support level. This could signify a strong foundation for a potential uptrend, mirroring the early stages of previous rallies,” Moon wrote in a message shared on Telegram.
Moon continued, “Should the present conditions persist, and investor sentiment remains bullish, Dawkoin could very well follow the trajectory of a 600% surge. Key technical indicators point towards a classic bull flag pattern, consolidating after a period of strong upward movement. If Dawkoin breaks out above its current resistance with significant volume, the path towards $0.0096 appears probable.”
Dawkoins, pays homage to Richard Dawkins, the esteemed evolutionary biologist who had previously introduced the concept of a ‘meme’ in his prominent 1976 work, “The Selfish Gene.”
In a tribute aligned with his 83rd birthday, enthusiasts launched the meme coin as a nod to his contribution to cultural theory.
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Why It Matters: Dawkins himself acknowledged the creativity behind the token. Well, just fancy that,” he expressed in a tweet, “To commemorate my birthday, and the coining of the word ‘meme,’ somebody has created a meme coin, the Dawkoin. I don’t even know what that means, but it sounds intriguing.”
Tesla CEO Elon Musk was also tickled by Dawkins’ post.
This comes as one trader managed to transform $3,000 worth of Dawkoins into $215,000 following a spike in the coin’s market cap to $15 million after it outperformed Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
Similarly, another individual achieved a staggering profit gain of 7467%, boosting their initial stake from $555 to over $42,000.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
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This article Richard Dawkins-Inspired Dawkoins To Surge 600%? Crypto Analyst Points To ‘Classic Bull Flag Pattern’ In Key Technical Indicators originally appeared on Benzinga.com
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