Dork Lord Price Pumps After Pepe Meme Founder Tweet, Which Crypto Could Explode Next?
Pepe the Frog has inspired yet another meme token, as unknown developers unveiled Dork Lord (DORKL) Wednesday shortly after Pepe creator Matt Furie tweeted some Star Wars-themed artwork featuring the iconic amphibian character.
Listed anonymously on Uniswap, DORKL pays homage to Furie's Pepe though the artist does not appear to be formally involved with the cryptocurrency project.
Following the well-worn path of other meme coins, DORKL saw massive price swings amid frenzied speculation in its first hours on the market. Whether the token has the fundamentals to support long-term growth is up for debate.
After making a significant leap and setting an all-time high of $0.01756 earlier today, Dork Lord (DORKL) has seen some retracement, yet it remains remarkably up by 679,551% since its launch.
The current trading price is at $0.01169, and the technical indicators suggest that there may be further gains on the horizon.
The Exponential Moving Averages (EMAs) can provide valuable insight into the market's momentum and potential price reversals. In the case of DORKL, the 15-minute chart shows the 10 EMA at $0.01036, the 20 EMA at $0.01043, and the 50 EMA at $0.01045.
The EMAs are all positioned below the current price, indicating a bullish trend. The fact that DORKL is trading above these key EMA lines could suggest that the bulls are in control, and the upward trend might continue.
Additionally, DORKL's Relative Strength Index (RSI) is currently at 57.23. This is below the overbought threshold of 70, which could indicate that DORKL is not currently overbought and there may be room for further gains without a significant reversal or correction.
However, traders should be aware of the resistance and support levels that could affect
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