Dragonchain (DRGN) has surged over 160% in the last week, with its price reaching $0.04. This is a notable recovery for a project that many had left for dead amidst regulatory scrutiny. But some vocal investors believe Dragonchain is primed for a powerful resurgence.
As MYC_NETWORK, a crypto trader, explains enthusiastically on Twitter: “Imagine the dinosaurs traders coping lmfao $DRGN is rising and it will be MSM story of resurrection…” He believes the SEC’s scrutiny of projects like Dragonchain is overblown, and investors are giving the regulator “a big ass middle finger!”
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Show more +Other investors note Dragonchain’s previous highs over $40 as evidence of its potential. As Twitter user @schoeneberger argues passionately: “People don’t realize what [is] going on behind the scenes…This coin was 40 dollars at one point it has just passed 3 cents. Tell me how you can look at this chart and not just see the potential…”
He even points to an intriguing bit of numerical conspiracy theory: “I looked up dragonchain on the gematria calculator and it translated to ‘I am not dead’.”
Whether or not you put stock in such numerology, it’s clear Dragonchain still retains an ardent support base. And with sentiment shifting, both irrational exuberance and serious use cases could push DRGN out of crypto winter in 2024 – the Year of the Dragon.
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