According to Odaily, Cardano (ADA) has fallen out of the top 10 tokens by market capitalization. It currently ranks 12th, with a market cap of $16.3 billion. This is more than $400 million less than the 11th ranked token, SHIB. This shift in ranking indicates a significant change in the cryptocurrency market, as Cardano was previously a mainstay in the top 10. However, the current market dynamics have led to its drop in position. The exact reasons for this shift are not clear, but it could be due to a variety of factors including market trends, investor sentiment, and overall market conditions. Despite this drop, Cardano remains a significant player in the cryptocurrency market, and its future performance will be closely watched by investors and market analysts alike.

According to U.Today, the meme cryptocurrency Shiba Inu (SHIB) has overtaken Cardano (ADA) in terms of market capitalization. As per CoinMarketCap, the current values of these two cryptocurrencies stand at $16.9 billion and $16.5 billion, respectively. In the last 24 hours, the price of SHIB, the second-largest meme coin, has seen a surge of over 16%, outperforming other major cryptocurrencies. In comparison, Dogecoin (DOGE), which is currently in eighth place by market capitalization, has only seen a modest increase of 2.4%.

Other smaller meme coins are also experiencing significant rallies. For example, Solana-based dogwifhat (WIF) has seen a surge of 21.4%, outperforming SHIB. Other coins such as Floki (FLOKI) and Bonk (BONK) have also recorded double-digit gains. Pepe, despite being an outlier with only a 1.1% increase, has still added 18% over the past week.

In October 2021, SHIB briefly surpassed DOGE in market cap. It remains uncertain whether it will be able to repeat this achievement this year, as there is currently a $7 billion gap between the two rival meme coins. Despite the recent price surge, SHIB is still down 66% from its peak on Oct. 28, 2021. However, data from IntoTheBlock shows that 70% of SHIB holders are making money at current prices, with the majority (76%) having owned the cryptocurrency for more than a year.

According to U.Today, Cardano (ADA) is currently at a critical point, with a significant barrier of 3.21 billion ADA potentially having a substantial impact on its price movement. This large quantity of coins represents a key threshold that needs to be surpassed for Cardano to witness a significant price shift. Data from IntoTheBlock reveals that 3.21 billion ADA were purchased by 202,040 addresses at an average price of $0.484, within the range of $0.469 to $0.50. The importance of this barrier is immense. The collective decisions of those holding these 3.21 billion ADA could determine whether the price initiates a new move or encounters resistance that hinders its rise.

Cardano's price activity has recently been under scrutiny as the market searches for potential breakout signals, following the stagnation of the ADA price below its moving averages. Over the past week, ADA has risen, reaching a peak of $0.51 on May 21 before meeting resistance. Subsequently, ADA traded within a narrow range and was up 1.73% in the last 24 hours to $0.466 at the time of writing. This barrier could be a test of confidence for Cardano bulls. If the investors holding the 3.21 billion ADA decide to sell, it could result in a price drop. On the other hand, if they retain or purchase more, it could indicate optimism, driving the price upwards.

The result of this standoff between selling pressure and buying interest is eagerly awaited. For Cardano, surpassing the 3.21 billion ADA barrier could set the stage for its next significant move, aiming for March's high of $0.80. However, the journey may not be smooth as ADA needs to overcome resistances at $0.537 and $0.683. At present, Cardano is at a decisive point given its current range trading, with 3.21 billion ADA being the key to its next major price shift. Whether this barrier will serve as a springboard or a ceiling is yet to be determined.

Bitcoin’s potential surge to $200,000 could drive its market cap to $3.9 trillion, impacting the entire crypto market’s trajectory.

Ethereum’s approval of spot ETFs signals growth possibilities, with price projections ranging from $10,000 to $20,000, potentially elevating altcoins like Cardano.

Forget the FUD: Cardano’s tech, modular upgrades, and a potential spot ETF could make it the next crypto superstar.

In a recent YouTube video, blockchain analyst Cheeky Crypto delves into Cardano (ADA) price predictions, emphasizing the importance of understanding Bitcoin and Ethereum prices first.

Bitcoin’s total market cap currently stands at $1.337 trillion. Some speculate it could surge to $200,000, leading to a market cap of $3.9 trillion. As of press time, Bitcoin’s price is quoted at $67,922.70, a 0.15% decline in the past 24 hours.

Nick also highlights Ethereum’s potential. With the approval of spot ETFs, Ethereum is poised for substantial growth. Speculation suggests that Ethereum’s price could hit $10,000, $15,000, or even $20,000. Currently, Ethereum is priced at $3,804.38, a 1.88% decrease. Its market cap is $464 billion.

These predictions imply a significant increase in Ethereum’s future market cap. Nick invites viewers to share their Bitcoin and Ethereum price predictions in the comments. Based on these insights, he plans to discuss Cardano’s price predictions.

Moreover, the video highlights the potential for growth in the crypto market. The speaker mentions the importance of Ethereum Spot ETFs for the altcoin market, including Cardano. He predicts a bull run for altcoins. Cardano’s previous all-time high market cap was $91 billion. It is currently valued at $0.4603 per token and is experiencing a 0.67% 24-hour growth.

With a maximum supply of 35.6 billion ADA, the token could reach $5 to $12, resulting in market caps ranging from $178 billion to $428 billion. However, the speaker emphasizes that the market cap needs to reflect the money flowing into a project. These numbers remain speculative.

Furthermore, the video discusses the importance of supply and demand in evaluating cryptocurrency prices. While market capitalization is a simple calculation of price multiplied by circulating supply, it is not enough to provide a complete picture.

The host then emphasizes the significance of development work and future positioning in determining a cryptocurrency’s long-term success. To illustrate his point, he cites examples of companies that failed to innovate and remain competitive.

Additionally, the speaker is bullish on Cardano’s future. He cites Cardano’s technology, modular improvement, and future positioning as key factors, hinting at the possibility of spot-Cardano ETF in the future. This development could further boost Cardano’s price. The speaker predicts a long-term price of $38 for ADA.

The post Cardano Price Prediction: Could ADA Reach $38? Analyst Sees Potential appeared first on Coin Edition.

Investor sees Cardano as breakout candidate

Avalanche outperforms with strong marketing

Bitcoin Runes and Coinbase’s Base attract attention

An investor is eyeing Cardano as a potential standout in the next bull market, drawing parallels to its impressive performance during the last crypto rally. Highlighting Cardano’s unique security features, which combine the strengths of Bitcoin and Ethereum, and the anticipated native token listings on major exchanges, he sees significant upside potential.

Cardano, Avalanche, Bitcoin, & Base! BIGGEST Crypto Bull Market Ever!My top plays for this bull cycle.Intro 00:00Bitcoin and altcoins 1:00Cardano 1:45Avalanche 4:15Bitcoin native assets & $Dog 7:25Base layer 2 10:30 pic.twitter.com/aEdiSMlhl9

— Dan Gambardello (@cryptorecruitr) May 28, 2024

For Avalanche, the investor notes its recent outperformance to Cardano. He’s drawn to Avalanche’s consensus mechanism and the active marketing push by its president, John Wu. The investor believes these factors could propel Avalanche further ahead in the coming bull market.

Bitcoin’s recent integration of native tokens, known as “Bitcoin Runes,” has also captured the investor’s attention. He identifies significant potential in the growth of this new ecosystem, particularly highlighting a meme coin called “DOG” built on the Bitcoin protocol.

Coinbase’s Layer-2 network, Base, is another exciting prospect for the investor. He’s impressed by Base’s upcoming marketing campaign targeting a billion users, its dominance in the social finance (SocialFi) space, and its potential to attract meme tokens similar to Solana’s success.

While acknowledging the inherent risks involved in any investment, the investor feels confident at his picks. He plans to delve deeper into each of these projects in future videos, offering viewers a comprehensive analysis of his bullish crypto portfolio for the approaching altcoin season.

The post Cardano, Avalanche, and Bitcoin Runes: Investor’s Top Crypto Picks for 2024 appeared first on Coin Edition.

The cryptocurrency world is abuzz with the meteoric rise of Retik Finance (RETIK), a new player in the decentralized finance (DeFi) space. Launched in December 2023, Retik Finance has quickly gained traction and attention, pulling investors away from established projects like Cardano (ADA). After its listing on Uniswap and several centralized exchanges (CEXs), Retik Finance achieved an all-time high (ATH) of $3, marking a 20x rally. This article explores the factors behind Retik Finance’s success and its impact on the broader crypto market.

The Emergence of Retik Finance (RETIK)

Retik Finance is not just another cryptocurrency; it represents a new wave of DeFi innovation. At its core, Retik Finance aims to revolutionize global transactions through a suite of cutting-edge financial solutions. Among its flagship offerings are:

Futuristic DeFi Debit Cards: These cards allow users to spend their crypto assets seamlessly in the real world, bridging the gap between digital and traditional finance.

Smart Crypto Payment Gateway: This solution enables merchants to accept cryptocurrencies effortlessly, enhancing the adoption of digital currencies in everyday transactions.

AI-Powered Peer-to-Peer (P2P) Lending: Leveraging artificial intelligence, this platform connects lenders and borrowers, providing efficient and secure lending services.

Multi-Chain Non-Custodial Highly Secured DeFi Wallet: This wallet supports multiple blockchains, offering users a secure and versatile way to manage their crypto assets.

These features position Retik Finance as a formidable contender in the DeFi landscape, attracting both investors and users seeking innovative financial solutions.

The Ascent of $RETIK

Retik Finance’s journey from its presale to hitting an ATH of $3 is nothing short of spectacular. Initially, during its presale, RETIK’s price soared from $0.030 to $0.12, reflecting strong investor confidence and enthusiasm. This early success indicated a high level of interest and trust in the project, setting the stage for its subsequent achievements. The token was subsequently listed at $0.15 on Uniswap, a major decentralized exchange, and on multiple centralized exchanges (CEXs), including MEXC, Bitmart, LBank, CoinW, Digifinex, Bitrue, and P2PB2B. These listings provided broader market access, significantly increasing liquidity and attracting a diverse array of investors. Following these listings, Retik Finance experienced a rapid surge in value, culminating in a remarkable 20x rally to $3. This impressive performance pushed its market cap close to $3 billion at its peak, a testament to the project’s robust market presence and potential. For early investors, Retik Finance offered substantial returns, with a 20x increase from the launch price and an astounding 100x gain from the first stage of the presale, showcasing its tremendous growth potential.

Retik Finance (RETIK) vs. Cardano (ADA)

As Retik Finance’s price surged past major cryptocurrencies like Polygon (MATIC) and Cardano (ADA), it began to attract attention from investors looking for high-growth opportunities. The success of Retik Finance in achieving a $3 ATH and a 20x rally after its CEX listings led to a noticeable shift in investor sentiment. Cardano, a well-established project known for its strong community and robust technology, started to see a migration of investors towards Retik Finance. This shift can be attributed to several factors:

Innovative Offerings: Retik Finance’s unique features, such as AI-powered P2P lending and multi-chain DeFi wallet, appeal to investors seeking cutting-edge solutions.

High Returns: The 20x rally from the listing price provided substantial returns, making Retik Finance an attractive investment compared to more mature projects like Cardano.

Market Excitement: The rapid price appreciation and high market cap generated significant buzz, drawing in speculators and long-term investors alike.

Conclusion

Retik Finance (RETIK) has made a dramatic entrance into the crypto world, capturing the attention of investors and pulling them away from established projects like Cardano. Its innovative offerings, combined with impressive market performance, have positioned it as a rising star in the DeFi space. As Retik Finance continues to grow and evolve, it will be exciting to see how it shapes the future of global transactions and financial systems. The journey of Retik Finance (RETIK) from its presale to a $3 ATH is a testament to the power of innovation and the dynamism of the cryptocurrency market. Whether it can sustain this momentum and achieve long-term success remains to be seen, but for now, Retik Finance is undoubtedly a project to watch.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: www.twitter.com/retikfinance

Telegram: www.t.me/retikfinance

The post New Crypto Retik Finance (RETIK) Pulls Investors from Cardano (ADA) After CEX Listings, Hits $3 ATH in 20x Rally appeared first on Crypto News Land.

Memecoins Make a Splash: Shiba Inu Tops Cardano in Market Cap

The cryptocurrency market is experiencing a resurgence of memecoin mania, with these lighthearted tokens surging in value and pushing established players out of the top rankings.

Shiba Inu dethrones Cardano:

Leading the charge is Shiba Inu (SHIB), a dog-themed memecoin that recently surpassed Cardano (ADA) to become one of the top 10 cryptocurrencies by market capitalization. This dethroning is a significant shift, considering Cardano held the number three spot during the 2020-2021 bull run. Currently, SHIB boasts a market cap of $16.4 billion, while Cardano sits at $16.3 billion.

A New Generation of Memecoins:

This memecoin rally isn’t just about established players like Dogecoin (DOGE). A new wave of memecoins, barely a year old, are leading the charge. These include Pepe, Dogwifhat (WIF), and Book of Meme (BOME), all of which have experienced double-digit gains in recent weeks.

Memecoins Outperform the Market:

The current market trend is a stark contrast to the broader cryptocurrency landscape. While Bitcoin (BTC) and many altcoins are experiencing stagnant or declining prices, memecoins are thriving. Six out of the top 10 gainers over the past 24 hours are memecoins, highlighting their strength in this particular market cycle.

Cardano Lags Behind:

Cardano’s price currently sits at $0.45, a significant drop of over 80% from its all-time high of $3.10. This stagnation is particularly noteworthy when compared to other altcoins that have recovered from previous cycles and even reached new highs. A similar situation can be seen with Ripple (XRP), which also appears stuck in a price range.

Memecoin Mania: A Passing Fad or a Sign of Things to Come?

The current memecoin surge raises questions about its sustainability. The 2021 bull run witnessed a similar trend, but this time, a new generation of memecoins is driving the movement. While established memecoins like DOGE and SHIB have seen growth, it’s the newer players experiencing the most explosive gains.

Whether this memecoin mania is a fleeting trend or a sign of a fundamental shift in investor behavior remains to be seen. However, one thing is clear: these lighthearted tokens are making a significant splash in the cryptocurrency market, challenging established players and defying broader market trends.

As the cryptocurrency market watches with keen interest, Cardano (ADA) stands at a critical juncture. A formidable barrier of 3.21 billion ADA seems positioned in a way that could significantly influence Cardano's price move. This vast number of coins represents a crucial threshold that must be overcome for Cardano to experience a major price move. 

According to IntoTheBlock data, 3.21 billion ADA were bought by 202,040 addresses in the range of $0.469 to $0.50 at an average price of $0.484.

The significance of this barrier cannot be overstated. The collective actions of those holding these 3.21 billion ADA might determine whether the price might kickstart a fresh move or face resistance that curtails its ascent.

Global In/Out of the Money, Courtesy: IntoTheBlock

Cardano price action has recently been in the spotlight as the market looks for potential breakout indications, after the ADA price stagnated below its moving averages. ADA climbed in the past week, reaching a high of $0.51 on May 21 before encountering resistance. Following that, ADA fell to trade in a tight range. Cardano's ADA was up 1.73% in the previous 24 hours to $0.466 at the time of writing.

card

This aforementioned barrier might be a test of confidence for Cardano bulls. If investors holding the 3.21 billion ADA choose to sell, it could lead to a price dip. Conversely, if they hold or buy more, it could signal optimism, pushing the price upward. The outcome of this standoff between selling pressure and buying interest is eagerly anticipated.

For Cardano, overcoming the 3.21 billion ADA barrier could pave the way for its next major move, which targets March's high of $0.80. However, the pathway might not be smooth as ADA needs to clear resistances at $0.537 and $0.683. 

However, currently, Cardano remains at a decisive juncture given its present range trading, with 3.21 billion ADA holding the key to its next major price move. Whether this barrier will act as a launchpad or a ceiling remains yet to be seen.

Toncoin (TON), DTX Exchange (DTX), and Cardano (ADA) hold high potential in the next bull run. Meanwhile, analysts project price gains of 224.55% for Toncoin and 5.41% for Cardano.

>> BUY DTX TOKENS HERE <<<

Toncoin’s Technicals and Fundamentals Look Promising    

Toncoin (TON) soared to an all-time high of  $7.63 in the second week of April 2024 amid rumors of Telegram’s potential IPO. Before this peak, TON’s value surged by 149.1%, rising from $2.28 to $5.68 in March. Following this achievement, TON became the ninth-largest token by market cap. 

However, a drop followed as the general cryptocurrency market crashed, and TON’s price fell by 47.9% to $2.96 in the same month. At the time of writing, Toncoin was trading at $6.39, and market analysts predicted a staggering 224.55% increase to $20.74 by the end of Q2. Amidst a tumultuous crypto market, Toncoin’s impressive trajectory hints at a successful bull run.

Is DTX a Prime Altcoin for the Bull Rally?

DTX Exchange (DTX), a presale token, has been drawing attention following remarkable presale performances that surpassed all expectations. The initial stage soared by 100%, propelling the token from $0.02 to $0.04. 

By the launch on major exchanges, a staggering 500% profit is anticipated, with the value potentially reaching $0.12. Moreover, DTX Exchange’s thriving ecosystem has been pivotal in positioning DTX for the bull run. 

Introducing 1000X leverage, it offers a trading hub built for optimal performance, combining the benefits of centralized and decentralized platforms. With such a strong foundation, DTX is a prime altcoin for the bull rally and one of the best coins to invest in today.

>> BUY DTX TOKENS HERE <<<

Increased Demand for Cardano Expected Before the Bull Run  

Cardano (ADA) stands out for its commitment to sustainability and scalability. Its proof-of-stake system conserves energy and heralds it as an eco-friendly option. 

Moreover, Cardano has outshone many well-established peers with remarkable performance. Since January 2024, its YTD has increased by 170%, translating to a price growth of 1.7 times. 

From a modest $0.23 in October 2023, ADA’s value skyrocketed by 252.17% to $0.81 in early March 2024, only to recede to $0.4 in April. Yet, this resilient cryptocurrency rebounded by 27.5%, climbing to $0.51 in May. 

At the time of writing, Cardano was trading at $0.46, with expert analysis forecasting a further ascent of 4.35% to $0.48 by the end of the second quarter. Furthermore, the Fear & Greed Index read 74, signaling robust demand for this token. 

Cardano’s performance and optimistic price predictions suggest a promising bull run ahead. Consequently, this makes it one of the best coins to invest in 2024.

Visit DTX Exchange Presale

Join The DTX Community

The post Toncoin, DTX, and Cardano Are The Best Coins To Accumulate Before The Bull Run appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Cardano (ADA) corrected gains and tested the $0.4520 support zone. ADA must stay above the $0.450 support to start a fresh upward move.

ADA price is struggling to gain bullish momentum above the $0.4750 zone.

The price is trading below $0.460 and the 100-hourly simple moving average.

There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA/USD pair (data source from Kraken).

The pair could gain bullish momentum if there is a close above $0.4620.

Cardano Price Tests Support

In the past few sessions, Cardano started a downward move after it failed to clear the $0.4750 resistance. ADA dipped below the $0.4620 support and tested the key support at $0.4520 like Bitcoin and Ethereum.

A low was formed at $0.4516 and the price is now consolidating losses. There was a minor recovery wave above the $0.4550 zone. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA/USD pair. The pair tested the 23.6% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low.

Cardano is now trading below $0.4620 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.4960 zone. The first resistance is near $0.4620 or the 50% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low.

Source: ADAUSD on TradingView.com

The next key resistance might be $0.4750. If there is a close above the $0.4750 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.5250.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.4620 resistance level, it could continue to move down. Immediate support on the downside is near the $0.4520 level.

The next major support is near the $0.4460 level. A downside break below the $0.4460 level could open the doors for a test of $0.4320. The next major support is near the $0.420 level.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.4520, $0.4460, and $0.4320.

Major Resistance Levels – $0.4620 and $0.4750.

Source: NewsBTC.com

The post Can Cardano (ADA) Bounce Back? A Closer Look at Its Recovery Potential appeared first on Crypto Breaking News.

Shiba Inu (SHIB), the second-largest meme coin by market capitalization, has experienced a surge in the past 24 hours, rising by over 16% and briefly touching a market cap of $17 billion. This impressive performance has allowed SHIB to flip Cardano (ADA) and secure its position as the 11th biggest cryptocurrency in the market.

TLDR

Shiba Inu (SHIB) surged by 16% in the past 24 hours, reaching a market capitalization of nearly $17 billion and flipping Cardano (ADA) to become the 11th largest cryptocurrency.

The surge in SHIB’s price coincides with an overall revival in the meme coin sector, with many other meme coins experiencing substantial price increases.

Two essential factors that may have contributed to the recent Shiba Inu rally are the project’s burning mechanism and the advancement of its layer-2 scaling solution, Shibarium.

A long-term SHIB holder turned a $2,625 investment into over $1.1 million after holding the meme coin for more than three years, showcasing the potential for significant returns in the meme coin market.

While Dogecoin (DOGE) and Shiba Inu have been lagging in price action, other dog-themed meme coins such as Dogwifhat (WIF), Floki (FLOKI), and Bonk (BONK) have delivered double-digit weekly gains.

The recent rally in Shiba Inu’s price is part of a broader revival in the meme coin sector, with numerous assets witnessing substantial price increases and the total market capitalization of meme coins surpassing the $70 billion mark.

Despite the surge, SHIB remains the second-biggest meme coin, trailing behind Dogecoin (DOGE), which currently boasts a market capitalization of over $24 billion.

SHIB Price at Coingecko

Two essential elements that may have contributed to the recent Shiba Inu rally are the project’s burning mechanism and the advancement of its layer-2 scaling solution, Shibarium.

The burn rate of SHIB tokens exploded by almost 600% a week ago, resulting in the destruction of nearly 10 million tokens.

The program’s ultimate goal is to reduce the tremendous circulating supply of the meme coin, potentially making it scarcer and more valuable over time. To date, the SHIB team has sent approximately 41% of the total supply to a null address.

Shibarium, which aims to elevate Shiba Inu above its rivals by lowering transaction fees and improving speed, has made significant strides since its launch last summer.

It has surpassed the 400 million mark in total transactions and undergone two major upgrades to improve user experience, empower the community of developers and innovators, and implement quicker block processing times.

The potential for significant returns in the meme coin market was recently highlighted by the success story of a long-term SHIB holder who turned a $2,625 investment into over $1.1 million after holding the meme coin for more than three years.

After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit.

He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!https://t.co/Pw9i9wbKcn pic.twitter.com/Qvp9wKpWCc

— Lookonchain (@lookonchain) May 27, 2024

This impressive return showcases the potential for substantial gains in the meme coin sector, although it is important to note that such returns are not guaranteed and come with a high level of risk.

While Dogecoin (DOGE) and Shiba Inu have been lagging in price action recently, other dog-themed meme coins have been experiencing notable gains.

Solana-based Dogwifhat (WIF) rose 34%, Floki (FLOKI) rose 35%, and Bonk (BONK) rose over 25% over the past week, demonstrating the widespread interest in meme coins across various blockchain platforms.

The post Shiba Inu (SHIB) Surges 16%, Flips Cardano (ADA) to Become 11th Largest Cryptocurrency appeared first on Blockonomi.

Shiba Inu (SHIB) saw a major price jump, rising by 18% to $0.00002933.

SHIB surpasses Cardano in market cap, ranking as the 10th largest crypto.

Shiba Inu (SHIB) has displayed a significant price increase following a month-long period of consolidation. The meme coin surged over 18%, overtaking Cardano (ADA) in market cap. Lucie, the marketing lead for Shiba Inu, highlighted this development on social media, praising the recent price rally.

Over the past month, SHIB has traded between $0.000021 and $0.000025 amidst a generally slight bearish market condition. However, the past 24 hours have seen a remarkable 18% rally, bringing SHIB’s price to $0.00002933. This surge has propelled its market cap to $17.27 billion, positioning it as the 10th-largest digital currency. Shiba Inu’s daily trading volume also saw a significant 146% rise, exceeding $2.4 billion.

Further, Shibarium, a project that aimed to enhance Shiba Inu by reducing transaction fees and increasing speed, has seen steady growth since its launch last summer. Shibarium has exceeded 400 million total transactions and has undergone two major upgrades to improve user experience, support developers, and accelerate block processing times.

Shiba Inu (SHIB) Breaks Out Key Resistance

Today Shiba Inu showcased a bullish pattern by breaking the crucial $0.000026 resistance level reaching nearly $0.00002933. At the time of writing, SHIB had increased by 15.32% to $0.00002832. This upward trend suggests that SHIB might soon reach its next target of $0.00003, which will set a new trend for Shiba Inu.

Shiba Inu (SHIB) Price Chart (Source: TradingView )

Hence, the buying pressure could uplift the SHIB price more, however, the risk of an upcoming dump is also higher, due to the potential for a price correction

If SHIB fails to maintain its position above $0.000025, it could decline further to around $0.00002376. That would potentially trigger Shiba Inu to drop to a month-low of $0.00002087 and re-entering a bearish trend, which could see it fall to $0.000008374.

In a YouTube video by Cheeky Crypto, the presenter delves into the future price potential of Cardano (ADA). The video provides a thorough breakdown of Cardano’s past performance, current state, and projected growth, drawing comparisons with major cryptocurrencies like Bitcoin and Ethereum.

Bitcoin’s (BTC) and Ethereum (ETH) Price Predictions

Bitcoin, the leading cryptocurrency, is currently valued at approximately $67,800, with a market cap of $1.337 trillion. Market speculation about Bitcoin’s future price ranges from $200,000 to $500,000. 

Moreover, this potential increase could drive its market cap to between $3.9 trillion and $9.8 trillion. The introduction of Bitcoin spot ETFs significantly contributed to its price surge by attracting substantial stock market investments.

Ethereum, another major player in the crypto market, boasts a market cap of $464 billion with 120 million ETH in circulation. Price predictions for Ethereum range between $10,000 and $20,000, suggesting a future market cap between $1.2 trillion and $2.4 trillion. The anticipated approval of Ethereum spot ETFs by the SEC is expected to further drive its price growth, following the trend set by Bitcoin.

Cardano (ADA) Price Analysis and Predictions

Cardano has shown potential in the past, reaching a peak price of $3.10 and a market cap of $91 billion. At publication, Cardano is priced at $0.462947 with a market cap of around $16 billion. 

With a circulating supply of 35.6 billion ADA and a maximum supply of 45 billion ADA, Cardano remains a prominent player in the altcoin market.

Price predictions for Cardano vary widely. Conservative estimates place Cardano’s future price between $5 and $12, correlating to market caps between $178 billion and $428 billion. On the more optimistic side, some projections suggest Cardano could reach as high as $38, potentially pushing its market cap to approximately $1.3 trillion.

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Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!

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Read also: Top 10 RWA Cryptocurrencies Poised for 100x Growth as SEC Approves Ethereum ETFs

Market Dynamics and Future Potential

The performance of Bitcoin and Ethereum significantly impacts the altcoin market, including Cardano. As Bitcoin and Ethereum prices rise, the altcoin market is expected to follow suit. Additionally, Cardano’s price is driven by supply and demand dynamics. As projects develop on the Cardano platform, the demand for ADA is anticipated to rise, further boosting its price.

Cardano’s modular development approach ensures smooth, forkless upgrades, setting it apart from other cryptocurrencies like Ethereum, which experienced delays during its transition from proof of work to proof of stake. This innovative approach contributes to Cardano’s long-term sustainability and positions it well for future growth.

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Shiba Inu (SHIB) one of the most popular memecoin in the market has made rounds today after jumping Cardano (ADA) to enter the list of the top 10 largest cryptocurrencies by market cap. The latest development has sent excitement across the SHIB ecosystem reigniting optimism on the future outlook of the token.

SHIB has experienced a very volatile month, trading both in the green and red zones on intervals, however, with this latest surge, the sentiment surrounding the coin signals bullish and might trigger an even further movement as it targets Toncoin (TON) next.

Shiba Inu Becomes Top Gainer Today

Meanwhile, fresh data from CoinMarketCap shows a clear trend of SHIB’s price movement over the last 24 hours. According to the data, Shiba Inu has jumped by over 15% over the last day to cement its position as the tenth-largest crypto by market cap. Consequently, Shiba Inu is now the top gainer in this category of assets.

Even though the difference in valuation with Cardano isn’t very large, there is hope for a further price spike which might be the catalyst needed to push the valuation more. In hindsight, Shiba Inu has gained about 9.31% in the last seven days and a massive 21.49% over the last month. This growth experienced by the project is a combined effort from the dedicated SHIB army who constantly backs and participates in activities to trigger the price movement of the coin.

Furthermore, the surge in valuation and price can also be attributed to several factors like strategic partnerships, increased investor interest, and recent technological upgrades in the Shiba Inu ecosystem. At the time of writing, SHIB has a market cap of $16.7 billion as against Cardano (ADA) with $16.4 billion.

Shiba Inu Team Reacts

Following this, the team behind the Shiba Inu project has reacted on social media, celebrating the big win for the project. Notably, Lucie, the marketing lead at Shiba Inu dropped a post on X (formerly Twitter) highlighting how SHIB has surpassed ADA. In her tweet, she wrote “SHIB flipped ADA ( again today),” indicating that this is not the first time that this has happened. Recall that SHIB had previously entered the list of the top ten largest cryptocurrencies in March 2024, but was later dropped due to high volatility.

In a separate tweet, she posted a short clip showing the bullish sentiment surrounding Shiba Inu at 100%. She wrote “This is personal to all fudders 2022/2023″…” Fudge your negativity!” while highlighting that the new rally is fueled by “development, true holders and vision.”

This is personal to all fudders 2022/2023 Fudge your negativity! $SHIB Development, TRUE HOLDERS and vision pic.twitter.com/CqUcAUz9sL

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) May 29, 2024

Another team member, Shytoshi Kusama, Shiba Inu’s lead developer also reacted to this update by posting “WOOF” on his X account, underscoring the attention surrounding dog-faced memecoins especially SHIB at the moment.

SHIB Price Reaction Today

As previously mentioned, Shiba Inu has rallied over the last 24 hours. According to data from CoinMarketCap, SHIB is currently changing hands at $0.00002829, signifying a 14.59% increase at the time of writing. What is more, the 24-hour trading volume has also surged by 117.66% to $2.2 billion.

Additionally, the coin has traded between the lows and highs of $0.00002463 and $0.00002927 in the last 24 hours. Furthermore, according to Coinglass, holders of short positions accounted for a staggering $1.04 million of liquidations, dominating the market. To offset losses from the most recent price increase, these traders are anticipated to utilize the sale proceeds to repurchase their positions. Recall that SHIB reached its all-time high of $0.00008616 on October 8, 2021, during the bull run. The current price of SHIB is still 67% below that level.

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