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In our previous article about two coins that can make you rich in 2021, we talked about DAO Maker and its token sale. The digital asset conducted a DYCO (Dynamic Coin Offering) which allows investors to have a 65% refund on their initial investment.
The DYCO was successful and sold out immediately. The initial price of 1 DAO token was $0.1. The digital asset got listed on two exchanges initially, KuCoin and Gate.io, as well as Uniswap. Right off the bat, DAO Maker price hit $2.9, which means that early investors saw a x29 on their investment in just one hour.
Later on, the digital asset managed to reach a price of $4.2, its all-time high for now. So far, DAO Maker hasn’t announced anything too significant for DAO which means it can continue rising in the short-term.
DAO Maker price eying up the next psychological level at $6
On the 1-hour chart, DAO price has established a clear ascending triangle pattern. Bulls have just defended the lower trendline support level and aim for a rebound towards the upper boundary of the pattern located at $3.77.
DAO/USDT 1-hour chart – TradingView
A clear breakout above $3.77 with a 1-hour candlestick close can quickly drive DAO price towards $6, a 58% price move calculated by using the maximum height of the pattern as a reference point.
DAO Maker recently announced the newest SHO (Strong Holder Offering) for VAIOT only for DAO holders and Liquidity Providers. So far, more than 1.26 million DAO tokens have been burned through the Toll Bridge.
DAO has only reached a $54 million market capitalization, currently ranked 358th on CoinMarketCap. If DAO Maker price can reach $6, the market capitalization will only be $98.4 million.