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Will Cardano Price Continue To Rally Amid Bullish On-Chain Metrics?
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.
$ADA Price prediction for this Bull Run and Beyond… pic.twitter.com/NlE79MERJU
— Mr Brownstone (@GunsRoses1987) November 16, 2024
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.
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.
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.
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.
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.
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.
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.
Dogecoin, which started as a joke, has long been the undisputed king of meme coins and has garnered a huge following since its creation. In a recent analysis shared on the social media platform X, crypto analyst Master Kenobi presented a compelling case for Dogecoin as a superior cryptocurrency compared to Bitcoin.
Exceptional Historical Performance Compared To Bitcoin
Bitcoin, the world’s largest crypto asset, has outperformed every other asset in traditional finance in the last decade since its creation. However, as Master Kenobi pointed out, Dogecoin has indeed outperformed Bitcoin since its launch date.
Master Kenobi noted that since its inception on December 8, 2013, Dogecoin has experienced a remarkable growth of approximately 883,920% up to its all-time high. In contrast, Bitcoin’s growth during the same period stands at about 17,234%. This significant outperformance underscores Dogecoin’s potential as a high-yield investment.
Unlike Bitcoin’s capped supply, DOGE employs a fixed inflation model, introducing around 5 billion new coins annually. Some might see this inflationary trend as negative for Dogecoin, but proponents of the meme coin have always emphasized that it is a needed feature. According to Kenobi, with DOGE’s total circulating supply currently above 140 billion DOGE, the annual issuance is now mostly negligible, and its effect will continue to decrease with time. Furthermore, the Dogecoin adoption rate has even far outpaced its inflation rate.
Lastly, the analyst highlighted the current low price of Dogecoin as one of its biggest advantages it has over Bitcoin. The relatively low price per DOGE unit makes it attractive to retail investors, who can acquire thousands of DOGE for the cost of a fraction of a Bitcoin. Bitcoin, on the other hand, is now being perceived more as an instrument for institutional investors due to its currently high price.
This affordability, combined with Dogecoin’s strong community and meme culture, makes it more appealing as an accessible cryptocurrency.
Current State Of Dogecoin
At the time of writing, Dogecoin is trading at approximately $0.38, with a 24-hour trading volume of $10.56 billion and a market capitalization of $55.8 billion. DOGE, which recently traded at $0.42 for the first time in two years, now finds its price correcting since October 13, having reached a low of $0.356 in the past 24 hours.
Nonetheless, Dogecoin has maintained gains over both seven-day and 30-day periods, indicating a bullish trend. As such, the meme coin is definitely on track to end the month at a bullish close. There is also the possibility of reaching a new all-time high above $0.73 before the end of 2024. This optimism is partly fueled by the recent US presidential election, where President-elect Donald Trump has expressed a favorable stance toward cryptocurrencies.
Featured image created with Dall.E, chart from Tradingview.com
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