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Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024

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3 hours ago

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The cryptocurrency market is gaining momentum, with Bitcoin surpassing $64,000, triggering enthusiasm among investors. Several Cardano rivals have shown impressive expansions, potentially transforming small investments into considerable profits by end of year 2024. These altcoins have the potential to outperform, with some experts predicting exponential growth.

3 Cardano Rivals To Turn $1 to $1,000

Shiba Inu (SHIB

Shiba Inu (SHIB) price has climbed by over 160% in the past year, emerging as a possible contender to Cardano. Built on the Ethereum ecosystem, SHIB saw a 30% surge in the past 30 days, driven by increased crypto activity and token burns. Currently, the SHIB price is trading at $0.00001806, and it has gained 2% in the last 24 hours.

SHIB price saw its Market Value to Realized Value (MVRV) ratio rise from 0.89 to 0.95 between October 11 and 13, according to data from IntoTheBlock. This increase indicates that investors hold their assets longer, leading to a higher market value than the realized value.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source: IntoTheBlock

TRON (TRX)

TRON (TRX), a decentralized blockchain-based system by the Tron Foundation, has surged 90% in value over the past year. Currently, the TRON price is at $0.1602, this growth is fueled by TRON’s token burns and rising interest in meme coins like SUNDOG. 

Increased network participation and investor confidence have driven its performance, positioning TRX as a strong competitor against Cardano and other altcoins, with promising potential for further gains by year-end 2024.

According to Coinglass data, the TRON price experienced significant upward movement in trading volume and open interest. The surge in volume points to heightened market activity, reflecting strong investor engagement.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source- Coinglass

Sui (SUI)

Sui (SUI), a Layer 1 blockchain platform, is gaining significant traction due to its focus on secure, fast, and private digital asset management. The platform offers scalable solutions, with its Total Value Locked (TVL) reaching $1.12 billion. The SUI price recently surged to $2.24, marking a 2% increase in a single day. 

Over the past month, its value has skyrocketed by 117%, positioning it among the top market performers. Investors are showing strong interest, viewing Sui as a potential competitor to ADA.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source- DeFiLIama

The crypto market strong resurgence has made smaller altcoins, particularly those competing with ADA, an intriguing opportunity for potential massive returns by 2024’s close.

Frequently Asked Questions (FAQs)

Shiba Inu’s rapid price increase and strong community support position it as a potential altcoin to compete with Cardano, particularly with its growing use case and market capitalization.

TRON’s 90% price surge over the past year is attributed to token burns, rising interest in its ecosystem, and increased trading activity, making it a favorite among investors.

While there is potential for massive growth, the cryptocurrency market is volatile, and profits are not guaranteed. It’s crucial to research and understand the risks involved.

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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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Charles Hoskinson Defends Cardano Amid Growing Criticism

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4 days ago

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October 10, 2024

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Charles Hoskinson, the founder of the Cardano blockchain, has recently addressed the growing criticisms surrounding Cardano. In a detailed explanation, Hoskinson discussed the transition into the Voltaire era of the blockchain, which he believes is a significant phase meant to address long-standing issues and enhance governance.

Cardano Rising: Charles Hoskinson Challenges Critics in Bold Response

Charles Hoskinson has defended the Cardano blockchain amid growing negative sentiment within the cryptocurrency community. His defense comes at a pivotal moment as Cardano transitions into its Voltaire era, a development that will address many of the grievances that have built up over the years. 

This era is a critical step towards realizing the full potential of the Cardano ecosystem, marking a shift towards community-driven governance mechanisms.

Moreover, Hoskinson asserts that this transition is not an indication of failure but rather a strategic move to strengthen Cardano foundation. He emphasized that the negative perceptions are primarily due to misunderstandings about the blockchain’s developmental trajectory and the shifts required for growth. 

Hoskinson believes that Cardano can effectively address and resolve the issues that have hindered its progress. He emphasized,

“Now that Voltaire is here, the new governance is capable of listening and adapting to meet these needs and also executing a new roadmap to grow the ecosystem dramatically.”

Governance and Innovation on the Cardano Blockchain

With the arrival of the Voltaire era, Charles Hoskinson points out that the Cardano blockchain can implement changes and improvements directly influenced by community feedback. The founder of IOG cites these developments crucial for an adaptable and blockchain ecosystem. 

Additionally, the introduction of the Midnight network, a new development focused on privacy and secure smart contracts, highlights Cardano’s commitment to innovation and security. This move, according to Hoskinson, ensures that the blockchain remains a leading technology in the space. Concurrently, stresses that the advancements are essential for Cardano to maintain its competitive edge and address user needs.

Market Reactions and Future Prospects

Despite the optimistic outlook from Hoskinson, market analysts have expressed concerns about ADA price. Most recently, analyst Max Keiser warned that ADA price risks a 90% crash. These speculations arise amidst a broader market uncertainty affecting many cryptocurrencies. However, Hoskinson remains unfazed, reinforcing that the fundamental value of Cardano lies in its long-term potential.

Charles Hoskinson concludes that the true measure of Cardano’s success will be its ability sustain growth through innovation. The founder expressed optimism stating, “Cardano isn’t dying. It’s thriving and growing.”

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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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ADA Price

Expert Predicts Cardano Price Could Crash 90%

Published

1 week ago

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October 7, 2024

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The Cardano price bounced 4% in the last 24 hours, igniting hope among investors. However, an avid critic of ADA, Max Keiser, suggested that a 90% crash is likely for Cardano price. While this prediction from the expert might seem drastic, there’s a caveat. Let’s explore what’s next for the so-called Ethereum-killer. 

Expert Keiser Predicts 90% Crash for Cardano Price

A recent tweet by Bitcoin Maxi Max Keiser said the ADA price will lose another 90% compared to Bitcoin in the next six months. 

However, if ADA/USDT were to drop 90% from its current price, it would be trading at $0.03, and its market cap would shrink to $1 billion. This is unlikely, given Cardano’s recent network developments and the overall bullish sentiment in the crypto market following Elon Musk’s support at Donald Trump’s rally.

The Cardano community responded to Keiser’s post, citing that if the ADA price drops 90%, it would present a great entry position.

Cardano whale activity increased over the last 48 hours, but according to IntoTheBlock (ITB) data, the volume increased in the wrong direction. The total large transaction count increased from 311 to 337 between October 5 and 6, but the whale netflow dropped from 27,000 ADA to -3.11 million ADA ($1.1 million). This suggests that whales may be offloading their ADA.

ada net flow ada net flow

Additionally, a look at the Coinglass Liquidation map shows that derivative traders are overwhelmingly bearish on Cardano price in the daily, weekly, and monthly timeframes as the cumulative Short Liquidation Leverage is higher than the Longs equivalent.

ada exchange liquidation mapada exchange liquidation map

These imbalances suggest that the dominant sentiment in the market is bearish, as traders anticipate the Cardano price will drop lower in the future. 

With these metrics and statistics, Keiser’s prediction looks more likely to happen than not. Unless market conditions change, the ADA price may continue dropping for the foreseeable future.

ADA Price Analysis: What Next for Cardano?

Cardano price is trading in a range-bound condition, with a resistance zone near $0.37 and support levels at $0.32. 

There is resistance at $0.37 and then a more significant level around $0.40, which has been tested previously. Conversely, $0.32 marks a key demand zone where the price bounced off in the past, acting as a solid floor.

The red resistance zone acts as a supply zone, where selling pressure may intensify. Bearish pressure is indicated by the downward arrow, suggesting potential retesting of lower levels like $0.32.

A rejection from the current levels would lead the price to test the $0.32 support zone. Failure to hold $0.32 could lead to a more significant bearish movement, targeting levels below $0.27. 

That said, for Keiser’s prediction to come true, there would need to be a black swan event or the Bitcoin price to go parabolic in the next 6 months.

Cardano PriceCardano Price
Cardano Price Analysis Chart

If the ADA price breaks and sustains above $0.37, expect a potential move toward $0.40, which is the next resistance. A confirmed close above $0.40 would shift momentum to a more bullish outlook, pushing the price 29% to $0.50.

Frequently Asked Questions (FAQs)

Max Keiser, a well-known Bitcoin maximalist, predicted that Cardano’s price (ADA) would lose another 90% against Bitcoin over the next six months. He believes the Cardano price drop is far from over.

Despite Keiser’s bold prediction, on-chain and derivative data show a bearish outlook for Cardano, with whales offloading ADA and traders expecting further declines. However, a 90% crash would likely need a major negative event or a sharp Bitcoin rally.

Many in the Cardano community believe that if ADA drops to extremely low levels, such as the $0.03 range, it would present an attractive buying opportunity.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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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ADA Price

4 Shiba Competitor to Buy to Turn $1 to $1000 in 2024

Published

2 weeks ago

on

September 30, 2024

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The cryptocurrency market has shown renewed strength as Bitcoin recently crossed the critical $64K resistance level, spurring excitement among investors. With the broader market gaining momentum, many focus on potential Shiba competitor outperforming SHIB itself. 

These alternative tokens could offer exponential growth opportunities, potentially turning a mere $1 investment into $1000 by 2024.

Shiba Competitor to Turn $1 to $1000

Dogecoin (DOGE)

Dogecoin (DOGE), a leading meme-based cryptocurrency, has experienced a significant rise in value over the past week. The DOGE price surged to $0.12, reflecting a 12% increase within seven days. Over the past year, the meme coin has seen an impressive 94% rise, reinforcing its status as the Shiba competitor in the digital currency.

The chart shows a significant surge in whale transactions and price movement of Dogecoin (DOGE). DOGE experienced high activity in early April, with a steady decline through July. However, starting in mid-September, a noticeable uptick in whale transactions and prices indicates renewed bullish momentum and market interest in DOGE.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source- Santiment

TRON (TRX)

TRON (TRX) has established itself as a significant player in the decentralized digital entertainment arena. Over the past year, the platform has impressively surged by 75%, making it a noteworthy competitor to Shiba Inu. Currently, TRX price is trading at $0.1559, experiencing a slight decline of 1%.

 However, the price has increased over the past week. The surge in TRX can be attributed to rising meme coin trading on the network. Additionally, the Total Value Locked (TVL) on TRON has expanded, now standing at $7.87 million, highlighting its growing importance in the decentralized finance (DeFi) landscape.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source- defillama

Pepe (PEPE)

Pepe (PEPE), an Ethereum-based cryptocurrency, has recently experienced a remarkable price increase of 1,326% over the past year. This impressive growth has positioned PEPE as the leading meme coin in the market.

In the last week, the token saw a notable rise of 37%, further solidifying its role as a significant player in the altcoin landscape. At the time of writing, the PEPE price is trading at $0.00001106, with a slight surge.

The Relative Strength Index (RSI) is currently at 71.55, indicating overbought conditions, which may suggest a possible price correction in the near term. Meanwhile, the Moving Average Convergence Divergence (MACD) shows positive momentum, but the recent performance suggests a potential slowdown in bullish activity.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source: TradingView

Cardano (ADA)

Cardano (ADA) is gaining significant attention as it gears up for promising developments. The ADA price has risen by 8% in the past week, reaching $0.3852. Investors are optimistic about further price increases, which has led some to compare it to the popular Shiba Inu token. This momentum reflects growing confidence in Cardano’s future potential.

Recent sentiment data shows a noticeable bullish trend in ADA’s price. This trend appears to be driven by increased social volume surrounding the asset. ADA’s price has fluctuated since the start of September, but a steady climb is evident. Social media activity has surged, suggesting heightened interest among investors. This growing enthusiasm may lead to further price appreciation in the coming weeks. 

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source: Santiment

With the cryptocurrency market showing signs of recovery, these four Shiba competitor hold significant potential. Investors who act quickly could see extraordinary gains, possibly turning a $1 investment into $1000 by the end of 2024.

Frequently Asked Questions (FAQs)

Shiba Inu rivals are cryptocurrencies that compete in the meme coin or altcoin space, potentially offering similar or better growth opportunities than SHIB.

TRON has surged by 75% over the past year, driven by increased trading activity and growth in decentralized finance (DeFi) on its network

Pepe has experienced a remarkable 1,326% price increase in the past year, making it a standout player in the meme coin market.

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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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