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The Daddy Tate price pumped over 5% in the last 24 hours to trade at $0.07141 as of 3:44 a.m. EST as investors go long on the celebrity meme coin.
That’s after a UK court ruled that police are allowed to confiscate almost £2.7 million, approximately $3.4 million, from the controversial influencer Andrew Tate and his brother Tristan, citing their failure to pay taxes on £21 million they generated from their online businesses.
Daddy Tate Price Breaks Resistance
4-hour chart for DADDY/USD (Source: GeckoTerminal)
The Daddy Tate price has been in a positive sequence in the last 24 hours, printing a series of higher highs and higher lows on the 4-hour chart during this period. This has resulted in the formation of an ascending price channel and has enabled the meme coin to break above the $0.06785 resistance level.
Should buyers continue to push the Daddy Tate price up through the course of the next 24 hours, the meme coin might soon flip the next major resistance level at $0.07666. An extremely bullish scenario could even lead to DADDY rising to as high as $0.08527 in the short term.
On the other hand, the Daddy Tate price falling out of the rising channel or getting rejected by the $0.07666 resistance could mark the end of the crypto’s climb. Traders might then decide to realize their profits from the recent pump, which could lead to a test of the closest support level at $0.06806. Continued sell pressure might push the Daddy Tate price down to $0.06010.
Sellers Might Soon Take Control Of The Daddy Tate Price
From a technical standpoint, there are some warning signs on the 4-hour chart that suggest DADDY’s bullish momentum is cooling down. Relative Strength index (RSI) readings have started to drop in the last 24 hours. This is often interpreted as a sign that buyers are losing their strength.
Although the current RSI reading above the neutral 50 point suggests buyers still have the upper hand against sellers and might continue to drive the Daddy Tate price up, the negative slope of the RSI line warns a bearish shift in power might take place soon.
The Moving Average Convergence Divergence (MACD) line is also starting to collapse toward the MACD Signal line. A cross between these two technical indicators could be a confirmation that the Daddy Tate price has entered a new bearish cycle. Its price might then drop out of the aforementioned ascending channel and test the support at $0.06806.
While DADDY tries to keep its bullish move going, investors are rushing to buy the new presale meme coin Flockerz (FLOCK), which has surged past $7.2 million in funds raised.
Expert Predicts FLOCK Could Surge After Its Launch
Many crypto projects claim to be truly decentralized, but this is often not the case. Flockerz, with its community-centric approach and innovative vote-to-earn mechanism stands out in the crowded meme coin market. Unlike the majority of the projects that came before, Flockerz actually puts control of its future in the hands of its holders.
By holding FLOCK, investors can have their voices heard during every community governance decision. To reward governance participants, additional FLOCK tokens are then sent out to holders who place votes on important decisions.
This community involvement and incentive will likely keep investors actively engaged with Flockerz over the long run, which is something even non-meme coin projects struggle to accomplish.
Placing votes is also a great way for investors to build their holdings in the meme coin, which experts believe has great speculative potential. Among them is an analyst from the 99Bitcoins YouTube channel. In a video for the channel’s 706K subscribers, the analyst said FLOCK has the potential to surge 100X after its launch.
Another great way for investors to grow their FLOCK bags is via the lucrative staking opportunity on offer in the project’s ecosystem. Anyone who buys and stakes FLOCK now will unlock access to a 382% APY.
🔥 The Flock is growing day by day! 🔥
7M raised and this flocks here to stay! 🐦📈 pic.twitter.com/a8gFhYt4P8
— Flockerz (@FlockerzToken) December 17, 2024
Anyone that wants to acquire the token at this early stage can do so using the buy widget embedded on the project’s website. Selling for $0.0064781, FLOCK can be bought with either crypto or bank card.
Investors who want to buy the token at the best possible rate during this presale stage will want to act quickly because FLOCK’s price is set to increase in less than 3 days.
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