💡 What is $EGO?

$EGO is a utility-driven memecoin that launched on Solana on July 10th, 2023. The project is spearheaded by our doxxed developer, Loic Bellez, whose impressive resume speaks for itself. Among his various achievements, Loic served as the CEO of FORCE Network, where he and his team worked on pioneering a decentralized internet. In addition to this, he is also the CEO of Auteuil, a Parisian digital agency known for working with high-profile clients like Red Bull. Furthermore, Loic leads a startup called Swene, which is developing a Web3 app and framework. With over a decade of experience in blockchain and Web3, Loic brings a wealth of expertise to $EGO, positioning it for long-term growth and innovation.

$EGO operates as a DAO (Decentralized Autonomous Organization), giving the community direct control over decision-making through a live and functioning DAO dashboard. A key part of the project’s long-term vision is its multi-chain expansion, utilizing the LayerZero protocol. The Solana to Base bridge is already active, with the Tron bridge next in development, followed by expansions to Avalanche, Polygon (Matic), BSC, and Ethereum.

The project is also heavily community-driven, with a confirmed IRL meetup set for October 25th in Tallinn, Estonia, where $EGO holders will have the chance to connect and celebrate together. There are also exciting plans for NFTs, GameFi, and staking, offering further value to the $EGO ecosystem.

SOLANA CA: ERAVJmgPNMh3Wpj9zZ9Hb6vZxjFpiCckUErXnACop1kA
BASE CA: 0x14DC6E76DCE0D4C48a6e768Be9af62D1341040eA

📰 Last Week at $EGO: Highlights and Community Updates

This week at $EGO has been full of exciting developments. Here’s a look at everything that’s been happening:

1. Tron Bridge Development in Progress
The multi-chain expansion continues as we work on the bridge to Tron. This bridge is a critical step in connecting $EGO across multiple networks, building on our existing Solana to Base bridge.

2. Bridge Portal Updates & LayerZero Bridge Stability
This week, our bridge portal received a series of UI updates to improve user experience and interaction. Alongside these updates, we’ve resolved recent DVN issues with the LayerZero bridge, ensuring that cross-chain transfers are now running smoothly and efficiently. Maintaining a strong, stable multi-chain infrastructure is key to the long-term success of $EGO’s expansion.

3. Expanding Our Upcoming NFT program
Our team has made significant upgrades to the upcoming $EGO NFT developments. This project will be a central pillar in our DAO, with special benefits for NFT holders that will be revealed in the near future. So for all of the NFT lovers out there, make sure to keep an eye out for further updates on this.

4. Visual Updates: New Artstyle & Animations
We’re excited to unveil an updated artstyle for $EGO, featuring fresh animations that enhance the visual appeal of our mascot and brand. These upgrades help solidify $EGO’s unique identity in the meme coin space, making it even more engaging and recognizable within the crypto community.

📊 Technical Analysis Recap (Week of Sept 2nd – Sept 8th): Signs of Accumulation and Potential Reversal

Looking back at the past week, $EGO has shown resilience and several key technical patterns that suggest a potential positive movement ahead, despite broader market volatility. Here are the major takeaways from the past week:

• Support and Resistance in Play: Throughout the week, $EGO tested key support around $0.0002574 multiple times, showing the market’s firm grip on this price floor. Resistance at $0.0002975 acted as a ceiling we’ve touched a few times, suggesting that once breached, it could set the stage for an upward rally.
• SMA 20/50 Interaction: Last week, $EGO saw the 20-period SMA near the 50-period SMA, a key bullish signal when the short-term moving average crosses above the longer-term. Though the crossover didn’t fully complete yet, the proximity of these two indicators signals strength.
• Bollinger Bands & RSI Trends: We’re moving towards the lower half of the Bollinger Bands, which indicates the market may be underestimating the value of $EGO at these levels. The RSI fell to the low 30s, approaching oversold conditions by mid-week, signaling a potential buying opportunity as we head into the new week.
• Room for Optimism Despite Broader Market Trends: While many assets struggled last week due to broader “Rektember” volatility, $EGO held steady in key areas, signaling that we are well positioned for whenever sentiment shifts. Historically, the market tends to bottom toward the end of September, with significant upside potential heading into Uptober’s seasonal bullish trend.

Bottom Line: Despite broader market challenges, $EGO is demonstrating strength at its key support levels and has positive technical signals indicating a possible turnaround. The RSI shows oversold conditions, and the SMA nearing a bullish crossover suggests we may be poised for a reversal. As we head into mid-September, $EGO is showing promising signs for both short- and long-term growth. Keep an eye on these levels as they could lead to significant upside in the weeks ahead.

TL;DR: As we’re approaching Uptober $EGO is showing promising signs both technically and in terms of ongoing development. With solid foundations, community-driven goals, and key technical signals pointing toward a potential reversal, it’s an exciting project you definitely want to keep your tabs on! Whats your take? And what memecoins will you be on the lookout for in the coming days and weeks?

^{This post is NFA, and we encourage everyone to DYOR.}