Cardano Founder Had a Pig. It’s Now a Memecoin

NAIROBI (CoinChapter.com) — On June 17, Charles Hoskinson, founder of Cardano, posted a picture of his pet pig, Nike, on X. Unexpectedly, this image led to the creation of the NIKE token, which reached nearly a million-dollar market cap within 12 hours.

Hoskinson shared the photo with the caption, “Fun Fact: I have a pig named Nike.” The post quickly gained traction, resulting in the NIKE memecoin inception. Hoskinson expressed his surprise in a follow-up post:

“I’m at a loss that a picture of my pig has resulted in a memecoin that is nearly at a million dollars in under 12 hours,”

Hoskinson on X.

Cardano Founder Trolling Leads Memecoin’s Meteoric Rise

The NIKE token took off faster than a pig at feeding time. As of the press time, the token’s price stood at $0.000689, with a 24-hour increase of 89,470%. The daily trading volume reached $645.44K, showing significant interest. The liquidity was $43.24K, and the market capitalization reached $658.06K, with a fully diluted valuation (FDV) mirroring this figure.

Buy and sell metrics showed high activity, with 1,189 buys and 749 sells. The buy volume was $159.70K, while the sell volume was $121.32K. The pooled USD stood at $21.62K, and the number of holders reached 695.

One wonders if Nike the pig is aware of her newfound crypto fame?

How is Cardano Memecoin Hourly Candlestick Chart Looking

Nike’s hourly candlestick chart shows a closing price of 0.00065, a 5.51% decline within a trading range of 0.00065 to 0.00073. The chart initially indicates strong buying interest with an upward movement and increased volume, followed by a consolidation phase with alternating bearish and bullish candles, reflecting market indecision.

Key technical levels on the chart include a potential support level around 0.00050, as indicated by the horizontal blue line. This level could attract buying interest if the price dips further. On the upside, the 0.00070 – 0.00073 range appears to act as a resistance zone. The price has struggled to sustain above this level, suggesting that sellers are stepping in at these higher prices.

For traders, monitoring the support at 0.00050 and the resistance at 0.00070 – 0.00073 is crucial. A break below support may signal a bearish trend, while a breach above resistance with strong volume could indicate a continued upward movement.

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