Fable Of The Dragon (ETH: $TYRANT): Is it More than a Memecoin?

31 oct.

Fable Of The Dragon is making waves with TYRANT, a 0% tax token tied to a unique mission: advancing anti-aging research, reshaping self-expression, and pushing the boundaries of cause marketing within Web3. Inspired by Ethereum founder Vitalik Buterin’s Twitter profile, which links to an animated film, “The Tyrant Dragon Fable,” TYRANT is rapidly gathering attention in the crypto world for its community-driven initiatives and robust trading momentum.

What Makes TYRANT Unique?
The Fable Of The Dragon token, TYRANT, leverages the influence of meme culture to drive a cause-driven mission. It seeks to generate funds for anti-aging research and foster a strong community network. The token stands apart with its 0% tax policy and the potential to serve as a utility in new Web3 applications, specifically designed to elevate self-expression and introduce an innovative approach to cause marketing.

The TYRANT token is available primarily on Uniswap V2 (Ethereum), with the TYRANT/WETH pair seeing a recent surge in activity. In the past 24 hours, the trading volume reached $16,957, marking a massive 2,177% increase, which indicates growing interest in this emerging project.

Current Market Data and Performance
- Current Market Cap: $958,869, ranking #3236 on CoinGecko
- Current Price: 90% below its all-time high of $0.9656 (recorded on Dec 3, 2022)
- Circulating Supply: 10 million tokens, with a fully diluted valuation (FDV) matching the market cap at $958,869

TYRANT is trading 2,838.60% above its all-time low of $0.003265 from November 2022. This impressive gain, paired with a recent 15.3% rise over the last week, showcases TYRANT’s resilience against broader market movements. The token has outperformed both the general crypto market (up 3.7%) and similar tokens within the Ethereum ecosystem (up 12.7%).

Technical Analysis
As of today, TYRANT is up 22% and trading within a strong support zone at $0.076. Following a recent consolidation phase, the token now seems poised to revisit and potentially surpass its one-month peak at $0.16. This consolidation suggests that the price action may be gearing up for a bullish breakout, especially as it aligns with recent support levels.

- Support Zone: $0.076, signaling solid price stability
- Potential Upside: Re-test of the $0.16 resistance and subsequently $1
- Trading Volume Surge: 2,177.30% increase over 24 hours

From a technical standpoint, TYRANT shows promise. The recent price consolidation, coupled with renewed volume, indicates a pattern where prices could push higher. The momentum aligns well with the increasing interest in meme and mission-driven tokens, suggesting a bullish continuation in the near term.

Why TYRANT Holds Unique Appeal
TYRANT taps into the cultural power of memes while driving real-world impact through its mission for anti-aging research. The team’s focus on self-expression tools within Web3 has potential to attract both crypto enthusiasts and cause-driven investors. This utility, combined with a 0% tax policy, fosters an open and inclusive ecosystem.

With a community eager to support the project’s mission, the token’s potential utility in Web3 applications and cause marketing could be a game-changer. If TYRANT’s value trajectory continues and manages to break past the $0.16 level, it may soon attract more long-term holders and investors drawn by its mission-driven approach.

Conclusion
Fable Of The Dragon’s TYRANT token presents a compelling mix of community, cause, and technical potential. As one of the few mission-oriented meme tokens, it has gained a strong foundation that combines both purpose and performance. Investors and traders interested in meme culture with a cause might find TYRANT a fitting addition, especially if it manages to secure and surpass recent highs in the near term.