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Cardano's $ADA Plummets Further Than Top Cryptocurrencies – Revealing the Truth
Reinout te Brake | 06 Sep 2024 19:18 UTC
Cardano’s $ADA cryptocurrency is currently experiencing a decrease in value compared to other major cryptocurrencies. Over the past 24 hours, $ADA has dropped by 4%, reaching a price of $0.3162. This represents a 10% decrease from its value a week ago, making it one of the top layer 1 coins with significant losses in a short period.
Why Cardano’s $ADA And Other Leading Layer 1s Are Down Today
Like many other cryptocurrencies, the performance of $ADA is closely tied to the movements of the leading cryptocurrency, bitcoin ($BTC). bitcoin itself has seen a 3% decrease in value overnight and a 6% decrease over the week, currently trading at $54,875. ethereum ($ETH), another major player, also experienced losses with a 2% drop overnight and a 6% drop over the week, settling at $2,336.
The recent update for Cardano, the "Chang" upgrade, introduced the ability for $ADA token holders to participate in voting on network development proposals. While this upgrade represents a step towards decentralization and democratization of the network, it has not reversed $ADA's downward trend. The token is now trading at a support level, facing resistance between $0.45 and $0.40.
Despite its falling relative strength index, which is indicating a potential for dip buying, the outlook for $ADA remains uncertain. Investors are currently looking for more adventurous opportunities in the crypto market.
coin-shiba-shootout">Investors Seek Adventure With GameFi meme coinshiba Shootout
One of the noteworthy projects attracting attention is shiba Shootout, a new meme coin project with a Wild-West theme centered around the shiba Inu concept. This project aims to inject vitality and utility into the meme coin landscape, offering a unique gaming experience within the web3 ecosystem.
shiba Shootout ($SHIBASHOOT) presents a gamification element with the town of shiba Gulch as its core setting, where community members can engage in challenges, showdowns, and meme sharing activities. This innovative approach combined with multiple rewards opportunities sets shiba Shootout apart from traditional cryptocurrencies like Cardano.
Investors have the opportunity to participate in the presale of shiba Shootout tokens at a fixed price of $0.0201 per token. Payment options include ETH, BNB, USDT, as well as credit or debit cards. With its promising potential and unique value proposition, shiba Shootout is positioning itself as a standout project in the web3 space.
For more information and to join the presale, visit the official shiba Shootout website and follow their updates on X and telegram.