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The Biaoqing price went ballistic, soaring over 126% in the last 24 hours to trade at $0.01464 as of 7:20 a.m. EST as investors rush to buy the meme coin.
The BIAO price hit a new all-time high at $0.01533, but then succumbed to some profit taking.
The Biaoqing Price Attempting To Escape Consolidation
1-hour chart for BIAO/USD (Source: GeckoTerminal)
The Biaoqing price was able to rise above the resistance at $0.00840 over the past 24 hours. It has since entered a consolidation phase between this recently-breached mark and $0.01399. This seems to have been an accumulation period, as bulls are now attempting to push BIAO above the $0.01399 price barrier.
Should the Biaoqing price manage to close a 1-hour candle above this threshold within the next 8 hours, it might have the technical foundation needed to continue rising in the short term. Traders could subsequently look to enter into a long position for the crypto, which might lead to BIAO entering into a price discovery phase towards the upside.
On the other hand, a rejection by the $0.01399 resistance level could invalidate the bullish thesis. In this alternative scenario, the Biaoqing price might test the aforementioned $0.00840 mark. Continued sell pressure should the altcoin fall to this point could then lead to BIAO plunging to as low as $0.00467 in the short term.
The Biaoqing Price Might Keep Climbing As Technicals Flag Bullish
Technical indicators on BIAO’s 1-hour chart suggest that the crypto has the bullish backing needed to break above the $0.01399 resistance soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing promising signs.
In the last couple of hours, the MACD line crossed above the MACD Signal line to trigger a major bullish technical flag. Traders usually see this occurrence as a sign that a crypto has entered a short-term positive cycle. If validated, BIAO could keep climbing.
Meanwhile, the RSI value is bullishly above 50 as well, which might suggest that buyers have the upper hand against sellers. What’s more, the RSI is positively sloped and is not in overbought territory yet. Not only does this indicate that bulls are growing stronger, it also suggests that BIAO still has a fair amount of upside potential.
While BIAO gets ready to potentially enter into a price discovery phase, a new Base meme coin by the name of Base Dawgz (DAWGZ) is pulling investors in as its ICO charges towards $1 million.
A Canine Crypto Looking To Dominate On Multiple Networks
Base Dawgz is on a mission to become one of the handful of meme coins that have a multi-chain presence. Although the crypto’s home is the layer-2 network Base, investors are able to interact with the token on some of the most active and liquid chains in the Web3 space.
The list of supported networks in addition to Base are Solana, Ethereum, BNB Chain and Avalanche. Investors are therefore able to seamlessly move value across these chains. What’s more, the token utilizes Wormhole’s sophisticated and secure cross-chain technology, ensuring investors’ funds are safe.
DAWGZ’s multi-chain transactional ability is one of the reasons YouTuber Jacob Bury is bullish on the meme coin. He calls it the ”Next 100X potential Base meme coin.”
Allowing Anyone To Share And Earn
Base Dawgz aims to achieve organic and sustainable growth in the market through various initiatives. One such program is its share-to-earn drive, which anyone can participate in to build eligibility for the project’s airdrop campaign.
To join the airdrop, participants must create marketing content related to Base Dawgz. Once created, the content will need to be posted on social platforms in order to accumulate points. These points can then be redeemed for tokens in the meme coin’s airdrop.
Members of the crypto community can also earn through Base Dawgz’s affiliate program. Anyone is able to create their own referral links, and can earn 10% of purchases made using those links.
Investors have been rushing to get in on DAWGZ at this ground floor stage, with more than $928k sent to the token’s ICO so far. This comes after its roaring start, which saw the presale raise $200k within just minutes of it going live.
There is still time for investors to buy DAWGZ on its official website using either BASE, SOL, ETH, BNB or AVAX. Investors will want to hurry as the price will increase in the subsequent stages of its ICO.
Purchase DAWGZ at presale prices here.
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