- Analysts predict that ADA could hit $5 on the back of strong development and technology patterns.
- Poodlana’s pre-sale has raised over $7.6 million and is just hours away from closing.
- The token is expected to be listed on Raydium and MEXC immediately after the pre-sale ends.
Cardano (ADA) has faced considerable skepticism in recent weeks, with its price falling significantly. However, some analysts see promising prospects for the future.
Meanwhile, new cryptocurrency project Poodlana (POODL), which bills itself as the “Hermes of crypto,” is generating excitement as investors eagerly await the end of its presale and the listing of its upcoming token.
Analysts believe Cardano (ADA) will hit $5 despite current bear pressure
ADA has recently been dubbed a “dead coin” by some in the crypto community, primarily because ADA has lost more than 90% of its value since hitting all-time highs in 2021.
However, despite bearish market sentiment, Cardano remains one of the top ten cryptocurrencies by market capitalization, proving its resilience and potential value.
Nick Black, an analyst at the YouTube channel “Discover Crypto”, put forward a more optimistic outlook for ADA, predicting that the token may reach $5. His analysis is based on several factors, including Cardano’s strong development activity and promising technical model.
Cardano’s development activity last month ranked third among all cryptocurrency projects, indicating that its ecosystem is far from stagnant. This dynamic development challenges the notion that Cardano is a “dead coin” and instead paints a picture of a project that is still very much alive and growing.
From a technical analysis perspective, a key pattern known as the “Breakout Block” has been identified on the ADA monthly chart, accompanied by a bullish stochastic crossover. These indicators often precede large price moves, and the fact that they are occurring now could signal a significant upward trajectory for Cardano.
Additionally, Cardano’s Market Cap to Realized Value (MVRV) long/short spread has dropped to -9.726%. This negative value indicates that most ADA holders are currently in the red, a situation typically associated with market bottoms.
Combined with a 31.01% surge in open interest (reflecting increased speculative interest), and an RSI of 40.27 (putting ADA in oversold territory), conditions appear ripe for a potential rebound.
However, there are some mixed signals to consider. The number of whale transactions has dropped significantly, from nearly 9,000 on August 5 to just 3,590. This reduction could mean larger investors are hesitant, reflecting market uncertainty. Despite these concerns, if ADA can hold above key support, it is likely to break through resistance and approach the $5 mark.
Poodlana: “The Hermes of Cryptocurrency” is about to be listed on the exchange
As Cardano grapples with its complex market dynamics, new player Poodlana (POODL) is preparing to make its grand entrance. Poodlana has attracted the attention of investors with its unique brand, the “Hermès of cryptocurrency,” promising an engaging and community-driven experience. The project’s pre-sales are nearing completion and important milestones are approaching.
Poodlana has raised $7,648,103.5, reflecting strong investor confidence and expectations. The presale is expected to end within hours, and the token will be listed on Raydium DEX on August 16 at 12:00 UTC, just 60 minutes after the presale ends.
Thereafter, POODL will be listed on the MEXC centralized exchange on August 19th and on the second CEX on August 23rd.
The final pre-sale price was set at $0.0539, with the listing price at $0.060, providing a potentially lucrative opportunity for early investors.
Poodlana’s approach to marketing and community building is as unique as its brand. The project emphasizes the creation of a fashion community of trendsetters and tastemakers, supported by engaging marketing campaigns, collaborations with high-end fashion brands and appearances on lifestyle platforms.
The strategy has already attracted significant attention in Asia, with Poodlana being hailed as the next meme coin to make a splash.
Going forward, Poodlana plans to launch a staking platform where holders can earn rewards, launch exclusive airdrops, and expand globally, especially in Asia. The program also aims to engage in philanthropy, consistent with a more compassionate vision for the future.
The excitement is palpable as Poodlana investors count down the token’s debut on the exchange. With its strong pre-sale performance, innovative marketing, and ambitious roadmap, Poodlana is well-positioned to make a significant impact in the cryptocurrency world.
In Conclusion
Both Cardano and Poodlana represent interesting opportunities in the cryptocurrency space. While Cardano rises to the challenge with the potential for a major price recovery, Pudrana is gearing up for a grand debut that could set the stage for future success.
It remains to be seen whether ADA will reach $5 and whether POODL will deliver on its fascinating promises, but both projects are certainly worth keeping a close eye on.
