Cardano Founder Charles Hoskinson’s Pet Pig Inspires NIKE Token Creation
Nairobi (CoinChapter.com) – Charles Hoskinson, the founder of Cardano, surprised the crypto world on June 17 when he shared a picture of his beloved pet pig, Nike, on social media. Little did he know that this innocent post would spark the creation of the NIKE token, which quickly gained popularity and reached a market cap of nearly a million dollars within just 12 hours.
Hoskinson’s post, accompanied by the caption “Fun Fact: I have a pig named Nike,” unexpectedly led to the birth of the NIKE memecoin. The founder expressed his astonishment at the rapid rise of the token in a subsequent post.
The NIKE token skyrocketed in value, reaching $0.000689 at the time of writing, marking an impressive 24-hour increase of 89,470%. With a daily trading volume of $645.44K and a liquidity of $43.24K, the market capitalization of NIKE stood at $658.06K, with a fully diluted valuation (FDV) reflecting the same figure.
Trading activity for NIKE showed significant interest, with 1,189 buys and 749 sells. The buy volume totaled $159.70K, while the sell volume was $121.32K. The total pooled USD amounted to $21.62K, and the number of NIKE holders reached 695.
One can’t help but wonder if Nike the pig is aware of her newfound crypto fame.
Analyzing the Hourly Candlestick Chart for Cardano Memecoin
The hourly candlestick chart for NIKE indicates a closing price of 0.00065, representing a 5.51% decline within a trading range of 0.00065 to 0.00073. The chart initially showed strong buying interest with an upward movement and increased volume, followed by a consolidation phase with alternating bearish and bullish candles, reflecting market uncertainty.
Key technical levels on the chart point to a potential support level around 0.00050, highlighted by a horizontal blue line. This level may attract buying interest if the price continues to dip. On the upside, the 0.00070 – 0.00073 range appears to act as a resistance zone, with the price struggling to sustain above this level, indicating possible seller intervention at higher prices.
Traders are advised to closely monitor the support at 0.00050 and the resistance at 0.00070 – 0.00073 for potential trend signals. A break below support could signal a bearish trend, while a breach above resistance with strong volume could suggest a further upward movement for NIKE.