Stay Stuck With Cardano at $0.35 or Switch to Memecoins Like SHIB? Expert Recommends This Viral Altcoin With 12,000% Upside
The post Stay Stuck With Cardano at $0.35 or Switch to Memecoins Like SHIB? Expert Recommends This Viral Altcoin With 12,000% Upside appeared on BitcoinEthereumNews.com.
With Cardano (ADA) stuck in the $0.35 mark, some investors are exploring options with higher upside potential, especially with the rise of meme coins like Shiba Inu (SHIB) and the new viral contender, IntelMarkets (INTL). Investors are now asking: is it time to switch from traditional blockchain projects to high-reward altcoins? Cardano’s Rocky Road: Investors Stuck at $0.35 Cardano’s (ADA) latest price movement follows a bearish pattern, with the cryptocurrency rejecting its rising trendline resistance. Last week, this trendline—which was derived from many lows since August—was breached suggesting that the market may be about to change course. Unfortunately, the price went back to the current level of $0.33 over the weekend after Cardano (ADA) tried retesting this trendline and failed. Currently, ADA trades in between $0.346 and $0.367. The coin has seen a decline of 6.49 percent following a drop of 26.70% in six months. This steady decline indicates that there is selling pressure on the coin. However, the technical indicators are conflicting. The RSI is close to oversold territory at 39.98. Additionally, the stochastic is at 31.11, which may indicate overselling. With a negative MACD of -0.003217, bearish momentum is evident. At this point, investors are tired of being stuck at the long-lasting price mark of $0.35. It is most probable if the ongoing trend doesn’t change, investors will move out to better options. Shiba Inu’s New NFT Bridge: A Game Changer? Recently, the SHIB development team has released an NFT bridge on its Layer-2 blockchain called Shibarium aiming to improve the ability of the platform functioning of NFTs based on Ethereum. This launch has also sparked speculation of a SHIB price surge as Shibarium adoption increases. This new feature enables individuals to link their Web3 wallets, such as MetaMask or TrustWallet, to deposit and withdraw Ethereum network NFTs.…
Filed under: News - @ November 1, 2024 10:26 pm