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Global Domination: Cardano (ADA) Whales Swim To Crypto’s Fastest Growing Meme Coin After Another Week of 12% Losses
Cardano (ADA), once hailed as a potential game-changer in the blockchain space, is facing significant challenges despite its recent technical upgrades. The latest Chang-Upgrade, designed to push Cardano (ADA) further towards decentralization, has been successfully implemented. However, the market’s reaction has been less than enthusiastic, with ADA suffering another 12% drop over the past week. As uncertainty looms over Cardano (ADA)’s future, a growing number of ADA investors are shifting their focus to Mpeppe (MPEPE), the rapidly rising meme coin that’s capturing the crypto community’s attention.
Cardano (ADA)’s Struggle Despite Chang-Upgrade Success
Cardano (ADA)’s founder, Charles Hoskinson, has long envisioned a fully decentralized blockchain, and the Chang-Upgrade is a critical step in that direction. This upgrade introduces new governance structures aimed at making the Cardano (ADA) network more resilient and community-driven. The upgrade also marks the beginning of Cardano (ADA)’s “Bootstrap Phase,” where decisions will increasingly be made by the community rather than a central authority.
Despite these advancements, Cardano (ADA)’s market performance tells a different story. ADA has fallen out of the top 10 cryptocurrencies by market capitalization, now sitting at the 11th spot. This decline has raised alarms, especially when considering the warnings from experts like Bitcoin evangelist Adam Back, who predicts that ADA could see a 90% drop in value. Back’s concerns stem from what he perceives as a lack of substantial market impact from Cardano (ADA)’s numerous announcements and upgrades.
The Rise of Mpeppe: A Beacon of Hope for Disillusioned ADA Investors
In the face of these challenges, many Cardano (ADA) whales—large holders of ADA—are looking for safer and potentially more profitable havens for their investments. Enter Mpeppe (MPEPE), a meme coin that has quickly become the talk of the crypto world. Unlike traditional cryptocurrencies that rely heavily on technical upgrades and institutional backing, Mpeppe (MPEPE) has leveraged the power of community engagement and decentralized finance (DeFi) innovation to carve out its niche in the market.
Mpeppe (MPEPE)’s rapid rise is not just fueled by hype; it’s built on a robust ecosystem centered around a decentralized gaming and casino platform. This platform allows users to participate in various games and earn rewards, making it an attractive proposition for investors looking for both fun and profit. The recent presale success of Mpeppe (MPEPE) has only added to its allure, with analysts predicting that the coin could see exponential growth in the coming months.
Why Mpeppe is Gaining Traction
For ADA holders, the switch to Mpeppe (MPEPE) is more than just a reaction to Cardano (ADA)’s declining price—it’s a strategic move to diversify and tap into a growing sector of the crypto market. Mpeppe (MPEPE)’s appeal lies in its ability to combine the viral nature of meme coins with the utility of DeFi platforms. This unique combination positions Mpeppe (MPEPE) as not just another meme coin, but as a serious contender in the crypto space with real-world applications.
The community-driven nature of Mpeppe (MPEPE) also resonates with investors who are wary of the top-down approach seen in other projects. Mpeppe (MPEPE)’s developers have ensured that the coin’s growth is aligned with the interests of its holders, offering various incentives such as staking rewards and a transparent roadmap for future developments.
Cardano (ADA) at a Crossroads: What’s Next for ADA?
As Cardano (ADA) continues to navigate through its Bootstrap Phase, the next few months will be crucial in determining its long-term viability. The successful implementation of the Chang-Upgrade is undoubtedly a positive development, but it remains to be seen whether it will translate into tangible market benefits. The risk of a 90% drop, as predicted by some experts, cannot be ignored, especially if Cardano (ADA) fails to regain its position in the top 10 cryptocurrencies.
For now, Cardano (ADA)’s future hangs in the balance. The growing interest in Mpeppe (MPEPE) highlights the shifting sentiment among investors who are increasingly looking for alternative opportunities in the crypto space. While Cardano (ADA)’s journey towards decentralization is commendable, it may not be enough to stave off the looming threat of further price declines.
Conclusion: A Shift in the Crypto Landscape
The transition of Cardano (ADA) whales to Mpeppe (MPEPE) underscores a broader trend in the crypto market—investors are prioritizing projects that offer immediate utility and community engagement over long-term promises. Mpeppe (MPEPE), with its blend of meme culture and DeFi innovation, is well-positioned to capitalize on this shift.
For more information on the Mpeppe (MPEPE) Presale:
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Amid a highly bullish DOGE market witnessed recently, Dogecoin whales’ action to heavily accumulate the token has garnered significant attention among traders and investors globally. On-chain data indicates over 500 million coins were bought from crypto exchanges, signaling increased market confidence in the asset’s long-term prospects. In the wake of this market statistic amid a bull market, crypto watchers anticipate a staggering 9000% gain in the dog-themed coin’s price ahead.
Dogecoin Whale Accumulation Spikes As Over 500M Coins Bought Recently
As per an X post by the renowned crypto market analyst Ali Martinez on November 21, Dogecoin whales bagged over 550 million tokens, worth $214.5 million, from crypto exchanges over the past week. This massive purchase has put significant buying pressure on the asset, pointing out the potential for considerable upside movement ahead.
Notably, the leading dog-themed meme crypto already surfs bullish tides, primarily attributable to the broader market events. Mainly, with Elon Musk’s taking the D.O.G.E. (Department of Government Efficiency) role under Donald Trump’s cabinet, market sentiments surrounding the meme coin have turned highly bullish.
Aligning with this endeavor, a recent CoinGape Media report reveals that D.O.G.E leads Elon Musk and Vivek Ramaswamy further outlined a strategy to reduce the federal workforce under Trump’s presidency. This saga garnered significant attention to the meme coin which is also much touted by Musk. It’s noteworthy that Elon and Vivek are also starting a podcast named “dogecast.” These chronicles, in turn, bring substantial attention to Dogecoin.
Simultaneously, in light of these broader events and the massive buying pressure brought by whales, market watchers foresee a phenomenal rally ahead.
DOGE To Soar 9000% Ahead?
At press time, DOGE price gained slightly by 0.5% intraday and is resting at $0.387, amid a surge in Dogecoin whale activity. The coin’s 24-hour low and high were $0.3666 and $0.3956, respectively. Notably, the monthly chart for the meme coin showcases gains worth 173%. This bullish movement has sparked further investor curiosity despite the recent turbulent performance.
Notably, leading crypto analyst Ali Martinez further spotlights that for DOGE to finally witness a 9,000% parabolic rally, 40% to 50% corrections are sure to be expected. This bullish projection rides the back of historical trends, as the meme coin witnessed a 9,470% pump in 2017 with two major corrections of 40% and another at 84%. In addition, recent on-chain data also indicates a potential rally for top meme coins like DOGE, SHIB, and others, in the coming days.
Subsequently, the coin skyrocketed 30,700% in 2021, seeing two key pullbacks of 46% and 53%. These statements indicate substantial potential for Dogecoin to pump ahead in the light of a broader bull meme coin market, further accompanied by massive whale accumulations.
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.
Decentralized Layer-1 blockchain Sui Network faced a major downtime with no blocks produced in the last few hours. The data from Suivision showed that the network faced a “major outage” as some validators faced problems with approving transactions. SUI price tumbled 10% but recovered as the network started processing transactions again.
Sui Network Faced Major Outage
The Sui Network has been down for more than two hours, according to reports from Suivision. The blockchain didn’t produced any blocks since 09:15 UTC today.
The Sui community members have reported issues with some validators, and the team is currently investigating the cause of the disruption. The official handle on the X platform has acknowledged this downtime:
“The Sui network is currently experiencing an outage and not processing transactions. We’ve identified the issue and a fix will be deployed shortly. We appreciate your patience and will continue to provide updates.”
Dubbed the Solana-killer, this is the first time that the Sui Network has been facing such an outage. Referring to the past outages for Solana, the crypto community members have been taking jabs at Sui. Some wrote “No wonder Sui is the next Sol” while others called it a “Solana moment. Bullish”. It has also triggered a meme frenzy with “first time?” tags on the X platform.
Solana folks to Sui folks right now: pic.twitter.com/jJFY6i2vju
— juzy (@juzybits) November 21, 2024
According to SanXz, the Sui Network is actually not down. The analyst added that the Sui team is actively investigating an RPC issue related to validators, which has caused disruptions.
However, one user ‘reisen’ responded to this analysis by saying: “Having nodes/validators operational is useless when no blocks are produced – So not producing blocks for 1:50h is equivalent to being down”.
The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators.
The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved. https://t.co/TJh2zwvQcD
— Sui (@SuiNetwork) November 21, 2024
Price Tumbled 10% During Downtime?
While the SUI price might see some volatility as the network resumes transactions, the community hasn’t turned bearish yet. One X platform handle Bullishify.sui wrote:
“Sui pulling a Solana? Remember when $SOL went down in Dec 2020, then ripped 1000% right after? $SUI like, ‘Yeah, we’re following the script too.’ Buckle up, fam!”
The SUI price recovered after dropping 10% over the last 24 hours, and currently trading at $3.63. As per CoinGape analysis, SUI price can rally to $18 with 750% gains on the monthly timeline and more than 500% gains on the yearly timeline.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
Solana meme coin SLERF price has advanced 55% today, emerging as the talk of the crypto town on Thursday. Notably, the coin surfs bullish tides across the crypto landscape as the leading crypto exchange, Binance, unveiled a new listing for it. For context, traders also reacted positively to the listing announcement as the token’s intraday trading volume soared over 200%.
Binance Unveils SLERF Perpetual Contract Igniting Market Bullishness
In an official Binance announcement dated November 21, the crypto exchange revealed that it is launching SLERFUSDT (USD-Margined) perpetual contract today at 11:30 UTC. Intriguingly, the platform’s colossal user base remains poised to enjoy up to 75x leverage trading the asset. This has sparked a SLERF price rally recently, indicating the growing market confidence.
Further, the leading crypto exchange set the capped funding rate for the token at +2.00% / -2.00%. Also, the tick size for the crypto was 0.0001, per the announcement. Notably, the underlying asset remains the abovementioned Solana meme coin, SLERF.
On the other hand, Binance also revealed that it is launching Secret (SCRT) (USD-Margined) perpetual contract at the same date and time. This perpetual contract launch also boasts maximum leverage of 75x in an effort to magnetize investors. Overall, these enhanced offerings have set off optimistic waves for the tokens across the broader market, offering enhanced liquidity and investment opportunities to market participants.
SLERF Price Rallies
At the time of reporting, SLERF price witnessed gains worth 55% and is currently trading at $0.4373. Its intraday low and high were $0.2547 and $0.4266, respectively. The coin’s 24-hour trading volume surged 219% to $271.18 million. Notably, this rising movement falls in line with the abovementioned listing.
Further, investors anticipate more gains in the Solana meme coin’s price against the backdrop of another bullish on-chain metric. A recent CoinGape Media report revealed that SLERF whale accumulation soared remarkably, underscoring significant buying pressure for the asset.
Meanwhile, it’s also noteworthy that SCRT price witnessed gains worth 2% intraday in the wake of the listing and is trading at $0.3393. The coin’s 24-hour low and high were $0.302 and $0.3791, respectively.
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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