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Will Cardano Price Continue To Rally Amid Bullish On-Chain Metrics?

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5 hours ago

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Cardano has been at the focal center of recent crypto discussions, mainly due to ADA price insane rally of 75% this week. Now trading at approximately $0.77. However it seems this sudden turn has sparked more interest and speculation in the direction it could be taking – up.

Cardano price is going to rise and now analysts are paying close attention to the uptick in price. They are considering both short-term momentum and longer-term prospects, as several indicators point to ADA’s upward run possibly not being complete yet.

Cardano Price Rockets, Analysts Predict $6 ADA Price by 2025

Cardano price has experienced a significant 15% surge over the last 24 hours, following a bounce off the 14-day Exponential Moving Average (EMA) on Friday. Currently, ADA is testing resistance at $0.80, and a strong close above this level could signal continued upward momentum, with the next target being the yearly high resistance at $0.810. Reports and crypto experts attribute ADA rally to $0.69 to several key factors, including Bitcoin’s bullish price action, optimism surrounding a pro-crypto presidential administration, and significant reports from founder Charles Hoskinson.

A week ago, the ADA whale transactions skyrocketed, and that was only the beginning. According to a recent analysis by GunsRoses1987, ADA is projected to reach $6 by 2025. This forecast is based on historical price patterns and anticipated developments within the ecosystem. The analysis suggests that ADA’s growth trajectory could mirror its previous aggressive growth phases, potentially leading to significant price increases over the next few years.

According to crypto influencer Wendy O, Cardano price surge to $0.69 can be attributed to several factors. She highlighted Bitcoin’s recent bullish price action, the positive sentiment surrounding a pro-crypto presidential administration, and, most notably, the announcement from Cardano founder Charles Hoskinson who recently confirmed he will be Donald Trump’s crypto advisor.

Hoskinson shared plans to work with US lawmakers and industry leaders on crypto policy. This move has energized the ADA community and boosted investor confidence.

Recent data from IntoTheBlock indicates that 63% of ADA transactions exceed $100,000, suggesting substantial activity from large investors. Additionally, 19% of ADA’s supply is held by large holders, which may include institutions, hinting at growing institutional interest in the cryptocurrency.

ADA (Cardano)ADA (Cardano)

Hoskinson’s SpaceX Trip Fuels Speculation

A visit to SpaceX by Charles Hoskinson set tongues wagging with excitement over its innovative work in pursuit of its mission to Mars. This has created speculation of a possible collaboration. Investors got so excited about the possibility that ADA jumped 12% in the last 24 hours to $0.76.

Hoskinson’s has fueled speculation about a potential collaboration between Cardano and SpaceX, contributing to a significant rally in the token price. Investors are optimistic that such a partnership could enhance the token’s technological capabilities and market position.

Cardano price approached the attainment of another enormous milestone, having dealt with nearly 100 million transactions at 99.07 million.

The blockchain ecosystem is expanding, with over 10.5 million tokens in circulation, 1,973 projects, and 1.3 million wallet delegators. This highlights increased usage and renewed activity on the Cardano network. Cardano is solidifying its position among leading blockchain platforms.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu Burn Rate Soars 6200%, SHIB Price To $1 Possible?

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2 hours ago

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November 18, 2024

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The Shiba Inu burn rate witnessed a robust 6200% uptick on Monday, sparking investor optimism globally. As the meme token deals with a massive blow to its market supply, investors are exploring the potential impact of the development on its price. Simultaneously, SHIB price soared remarkably intraday, sparking further market optimism on future action amid a burn rate surge.

Shiba Inu Burn Rate Surges 6200% Sparking Bullish Market Sentiments

According to the latest data offered by the tracker Shibburn on November 18, a 6223% uptick was recorded in the Shiba Inu burn rate over the past day. As per the data, 290,321 coins were destroyed intraday. This massive token burn resulted in the abovementioned surge, garnering noteworthy attention to the crypto amid a bull market, especially as investors have shifted their focus towards the top meme coins.

Shiba Inu Burn Rate Shibbrun
Source: Shibbburn

Simultaneously, the coin’s total supply was evaluated as 589.26 trillion tokens at the time of reporting, with the abovementioned burn surge further weighing in. Also, it’s worth mentioning that the meme token witnessed 135 million SHIB taken out of its supply over the past week. Overall, with the supply witnessing a massive blow, market sentiments on the coin’s price turned bullish, mirroring the law of supply and demand.

Is SHIB Price To $1 Possible?

At press time, SHIB price noted gains worth 4% intraday and is now trading at $0.00002511. The meme coin’s 24-hour low and high were $0.00002403 and $0.00002563, respectively. Notably, the rising movement falls in line with the abovementioned Shiba Inu burn rate surge.

Simultaneously, Coinglass data pointed to a 6% rise in SHIB futures OI to $93 million. This stat underscores heightened investor interest in the asset, paving a bullish path for future movements.

Also, a recent Shiba Inu price analysis by CoinGape Media indicated that the coin showcases the potential for further gains, although a $1 price target remains highly optimistic. Market watchers continue to eye the token for further price action shifts amid a bull market post-U.S. elections.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Holds $90K, OM Soars 40%, HBAR Rises 28%

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4 hours ago

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November 18, 2024

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Crypto prices today hold steady following last week’s gains. Bitcoin (BTC) remains at $90K. Ethereum (ETH), Solana (SOL), and XRP rise 1-10%. Meme coins also show strength, with Dogecoin (DOGE) up 8% and Shiba Inu (SHIB) up 6%. The crypto market cap stands at $3.05 trillion, up by almost 2% in the last 24 hours. However, trading volume has dropped by 10%.

It’s noteworthy that MANTRA (OM) and Hedera (HBAR) emerged as the day’s leading gainers. Additionally, the meme coin sector soared in line with the broader market sentiment.

Here’s a brief collection of some of the top cryptocurrencies by market cap and their price action on November 16.

Crypto Prices Today: BTC, ETH, SOL, & XRP Witness Gains

Top cryptocurrencies BTC price traded above $90,000, Ethereum (ETH), Solana (SOL), and XRP prices gained 1%-9%. This upward movement has sparked significant market intrigue as the broader industry reflects immense bullishness in Q4 this year. Further, even the meme coin sector soared in line with the broader trend, as seen by Dogecoin and Shiba Inu intraday price movements.

In addition to the top cryptocurrencies, both Hedera (HBAR) and MANTRA (OM) have shown remarkable gains in the last 24 hours. So, let’s dig deeper into the major crypto tokens and their prices today.

Bitcoin Price Today

BTC price gained nearly 0.5% in the past 24 hours and is now trading at $90,503. Its intraday low and high were recorded as $88,741 and $94,433, respectively. BTC’s market cap soared 0.5% from yesterday and is now resting at $1.79 trillion. Further, the flagship crypto’s market dominance witnessed a 0.04% increase in value to 58.77%.

Ethereum Price Today

ETH price gained roughly 1% in the past 24 hours and is now trading at $3,104. Its intraday low and high were $3,044 and $3,160, respectively. Ethereum’s market cap stood at the $374 billion level today. Simultaneously, the top altcoin market dominance was at 12.27%.

Solana Price Today

Simultaneously, SOL witnessed gains worth 11% in the past 24 hours and is now trading at $239. The token’s’s 24-hour low and high were $215 and $241, respectively. Solana’s market cap reached $113.92 billion today. The token soars alongside the broader market sentiment.

Notably, Solana meme coin PNUT has further caught the eyes of market participants, embarking on a rally amid backing from major exchanges.

XRP Price Today

XRP price soared roughly 5% in the past 24 hours and is now trading at $1.12. The coin’s intraday low and high were $1.05 and $1.13, respectively. XRP’s market cap is at $63.53 billion today, witnessing considerable gains among altcoins recently.

Simultaneously, in light of the remarkable gains, crypto analysts are bullish on a further XRP rally to as high as $4.96 following its breakout above $1. In a recent X post, Egrag Crypto analyzed XRP’s market cap, noting its rise above Fib 0.07 ($51.35 billion) and reaching Fib 0.786 ($60.06 billion), suggesting a potential surge to $1.83 trillion in market cap.

Meme Crypto Prices Today

DOGE price witnessed gains worth 6% over the past day and is now trading at $0.3688. It has now secured its position as the 7th top cryptocurrency by market cap. The 24-hour low and high for DOGE are $0.3461 and $0.3755, respectively. The 24-hour trading volume stands at $7.15 billion.

Simultaneously, Shiba Inu (SHIB) price surged 5% in the past 24 hours to $0.00002483. Its 24-hour low and high are $0.00002388 and $0.00002562, respectively. The trading volume in the last 24 hours is $1.18 billion.

Further, even PEPE, WIF, and BONK prices witnessed an uptick worth 5%-12%. The meme coins sector shows good gains today.

Top Crypto Gainer Prices Today

MANTRA

OM price has broken its all-time high, surging an impressive 40% over the past day. It is now trading at $4.30. The altcoin’s intraday low and high were $2.90 and $4.36, respectively.

Hedera

HBAR is up by 30% in the last 24 hours and is currently trading at $0.114. The 24-hour low and high are $0.08343 and $0.11, respectively.

Raydium

Raydium is up by 18% and is currently trading at $5.98. Its 24-hour low and high are $5.175 and $6.164, respectively. Trading volume has shot up 265% in the last 24 hours.

Peanut the Squirrel

PNUT is up further by 15% after a 2000% rally last week. The price is currently trading at $1.75, with a 24-hour low and high of $1.51 and $1.93, respectively.

Top Crypto Loser Prices Today

Ethereum Classic

ETC price dropped by 6% in the last 24 hours and is currently trading at $26.20. Its 24-hour low and high are $25.20 and $27.83, respectively.

Flare

FLR is trading at $0.02, with a 5% drop in the past 24 hours. The 24-hour low and high are $0.01943 and $0.02186, respectively.

Moreover, the hourly time frame charts indicate that BTC rising marginally while ETH gains 0.35%. The crypto market witnessed overall bullish sentiment over crypto prices today among investors. AI coins are gradually picking pace mimicking the broader market gains recently.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC, XRP, & Dogecoin Steal Spotlight

Published

23 hours ago

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November 17, 2024

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The global crypto realm has closed another week, with remarkable advancements witnessed across the broader sector. Bitcoin (BTC) price pumped to attain a new ATH, whereas the broader market mirrored optimism. Simultaneously, Ripple’s XRP achieved unprecedented levels, sparking market discussions. Moreover, Dogecoin echoed optimism across the broader market amid D.O.G.E-related developments.

Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media in the past seven days.

Bitcoin Hits New ATH Amid Crypto Bull Market

Notably, this week saw BTC price attain a new height of $93,434.36, sparking a tidal wave of optimism among market investors. The coin soared in tandem with increased institutional interest post-U.S. elections, as seen with Bitwise hitting $10 billion in client assets under management.

Further, amid the flagship crypto’s bullish movement, top trader Peter Brandt and investment firm Bernstein predicted BTC price rally to $200K. However, it’s also noteworthy that BTC witnessed slight turbulence this week, attributable to macroeconomic events.

The US CPI inflation rose to 2.6%, raising investor concerns over future movements. Nevertheless, the market closes this week in a bullish state.

XRP Gains Momentum

Simultaneously, XRP price extended weekly gains to 93%, solidifying investor optimism on the asset. Ripple CEO Brad Garlinghouse took the stage to reveal key reasons behind the coin’s strong rally this week, pointing out the post-election environment as a pro-cryptocurrency era.

Also, with speculations of SEC Chair Gary Gansler’s resignation on the rise, market sentiments for Ripple’s coin remain optimistic. Meanwhile, the XRP documentary premiered this week, garnering additional market attention toward the crypto.

Dogecoin Gains Traction Amid D.O.G.E. Saga

Simultaneously, DOGE price extended weekly gains to 54% over the past seven days, primarily attributable to Elon Musk’s D.O.G.E’s saga post-U.S. elections. The American entrepreneur was appointed as the Department of Government Efficiency head alongside V. Ramaswamy under Trump’s cabinet, bringing significant attention to Dogecoin.

On the other hand, with the Dogecoin lawsuit against Elon Musk withdrawn, market sentiments orbiting the meme token remain bullish. Simultaneously, CoinGape Media reported DOGE whale accumulations to have burgeoned substantially this week. Also, the leading DOGE wallet, MyDoge, announced the launch of DogeOS shortly afterward.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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