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Andrew Tate’s Daddy Tate (DADDY) meme coin, which recently hit an all-time low of approximately $0.048 on Monday, has rebounded impressively, surging over 70% within just two days. Despite this rebound, the coin remains about 70% down from its June all-time highs.
DADDY Meme Coin Attempts Recovery
Currently, DADDY is striving to maintain its value above the Fibonacci retracement level of 0.236, which is about $0.073. This critical level is calculated from a high of $0.288 down to the recent low.
The coin now exhibits signs of beginning a strong uptrend by marking higher highs. However, it encounters a significant challenge at the $0.095 mark—the 0.382 Fibonacci level. If it fails to break this barrier, it might fluctuate between $0.095 and $0.073. Should it drop below $0.073, the budding recovery could quickly fade.
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The coin’s performance at these Fibonacci levels will be crucial in determining its short-term trajectory. Traders and investors will be closely watching whether DADDY can sustain its recovery momentum and break through the $0.095 resistance level. Failure to do so could result in a period of consolidation or further decline.
DADDY’s recent bounce showcases the volatility and speculative nature of meme coins, where rapid price movements can happen within a short time frame. As always, investors should exercise caution and conduct thorough research when dealing with such highly volatile assets.
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