Why is DAO Maker (DAO) Price Pumping? Expert Sets Eyes on This Next Price Target

DAO Maker, the innovative decentralized autonomous organization (DAO) platform, has seen notable shifts in the crypto market. According to data from CoinMarketCap, the price of DAO at the time of writing, was $2.31, with a 24-hour trading volume of $74,034,812 and a 34.67% surge in the last day alone.

Market Analysis by One Intent

Top technical analyst One Intent (@oneintent_) provided a comprehensive breakdown of the DAO Maker price action on the weekly chart. He highlighted several key zones that have been acknowledged by the market over approximately 1,000 days.

He tweeted, “We can identify market-developed horizontal support at around $1.2,” One Intent explained, “which was violently damaged back in November 2022.” However, in February 2023, bulls managed to regain this crucial support level but encountered diagonal resistance, which led to more challenges for the buyers.

Bullish Resurgence

Despite the setbacks, the bulls’ determination paid off. “In December 2023, bulls managed to break through diagonal resistance rejected at horizontal support, which resulted in a diagonal test in January 2024,” One Intent noted. “Resistance turned into support.”

Consequently, the bulls have been gaining momentum, culminating in a strong weekly close above the horizontal support last week. One Intent remains optimistic about the future, targeting approximately $6 if the uptrend continues.

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DAO Maker’s Milestone and Industry Recognition

Additionally, DAO Maker has achieved a significant milestone. Gotbit Hedge Fund (@gotbit_io), a notable player in the industry, congratulated DAO Maker on reaching a $430 million market capitalization and securing the top spot in the Launchapds Ranking.

“Bull market is around the corner,” Gotbit Hedge Fund declared, expressing their delight with the performance of their “tier-1 client” DAO Maker. “Congratulations to $DAO team and investors, real launchpad for real founders!”

With positive technical indicators, a bullish resurgence, and industry recognition, DAO Maker’s price surge seems well-justified. However, as One Intent advises, “real chads who have the ability to sit on their hands should participate in this play.”

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.