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$LKY @LuckyCoinProj is showing a textbook Golden Pocket test. 🚀
The price retraced into the key 61.8%-65% Fibonacci zone, consolidating steadily and using this level as support. This reflects strong buyer confidence at the golden pocket. 💪
Notably, volume dropped dramatically during the correction, signaling a lack of selling pressure—bullish for continuation. 📉🔥
Adding to the setup: 1️⃣ The structure is holding firm above critical support. 2️⃣ A breakout from the descending trendline could be on the horizon.
$LKY could be gearing up for its next leg up. Don’t fade this setup! 👀
#Crypto# #Luckycoin#
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LKY has quickly become one of my favourite meme coins.
Good opportunity to buy the dip now if you missed the initial run imo.
Here's the full $LKY thesis. 🍀
Facts:
• LKY is the OG DOGE (DOGE was originally a fork of Luckycoin, which launched in May 2023)
• It's the oldest active memecoin chain in existence
• It has the 22nd UCID ever (was a top 20 token in 2013)
• Real market cap is only ~$70m as many tokens are dormant/lost
• The chain was revived in 2024, and unlike many other "restarts" on the market, it kept the OG chain state that was publicly available on Bitcointalk - picking up from block 81,743
Narrative:
• The "lucky" aspect appeals to human nature, as luck is such a fundamental component of society (particularly in Asian culture)
• 🍀 symbol is instantly recognisable
• Chinese new year on Jan 29th (main theme is luck, wealth & prosperity)
• St. Patricks Day is March 17th
• It has a truly unique narrative in a market with tons of forced narratives
• There are so many meme-able one liners, "they'll say we just got LKY" etc.
Opportunity:
• Mining activity has recently picked up (its hash rate has even been sitting above $LTC and $DOGE), indicating extreme interest. All major mining pools seem to be integrated inclusive of key exchanges that operate a pool
• Community and holder-base has been growing rapidly, and they're super passionate
• Still not on big exchanges
• Almost a 1000x away from $DOGE in terms of market cap (so much headroom to grow)
Full transparency: I accumulated on the open market between $2-3 and have recently added more to my position at $8. I haven't sold a single token yet. I took a position because the narrative immediately stood out as something fresh & the lore runs deep. Like any meme (esp. lower market cap ones) there's risk involved so DYOR and implement risk management if you choose to enter.
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