CRYPTO NEWS

Cardano (ADA) Regains Some Support But Rate Stuck Below Vital $0.50 Level

Cardano (ADA) price according to CoinMarketCap registered a jump of 3.96% or $0.5148 as of this writing.   CoinMarketCap hourly chart shows how ADA trades midway slicing in between the support zone of $0.4899 and the $0.5035 resistance level. In addition, ADA’s average transaction value is now 0.

As of press time, the 8th largest coin in terms of market cap is in the gray or neutral area which means the coin is neither bullish nor bearish. TradingView’s daily chart on the ADA/USD price shows that it was able to rebound successfully to $0.4885 on the daily chart.

But, ADA/USD price was not able to revert to the crucial $0.50 point which shows that the bulls are slowing down. If the bulls can’t push the price to the target zone, then the coin could dangerously plunge to $0.48.

ADA Transaction Value Sees Uptrend In Past 116 Days

TradingView’s midterm chart on ADA/USD has breached $0.4930. However, if the bulls fail to hold on to this level, the bull run ends right here. This perspective is said to be relevant for August. Currently, ADA trades at $0.5020.

Notably, there is an inconsistency in the daily time frame of 20, 50,100, and 200 because the timeframes are misaligned which could be beneficial for traders. Divergence is spotted midway between the RSI and the price of ADA which hints trend reversal.

Also, the average transaction value of Cardano showed an uptrend in the last 116 days, which is having a growth spurt of around 2332.44 daily.

3,015 Smart Contracts For Cardano Since August 2

In other news, the Cardano network currently has over 3,015 smart contracts as of August 2. It was only in September 2021 that Cardano rolled out an update on adopting smart contracts to speed up and increase performance. With the Vasil Hard Fork nearing its launch, Plutus Scripts peaked at over 3,000 smart contacts.

With the looming launch of Vasil Hard Fork, Charles Hoskinson, Cardano founder, refuted claims that Vasil Hard Fork can impede the functionality of smart contracts in the network. Hoskinson believes that these fake news were started by trolls whom he calls “stupid” while repeating himself that smart contracts will not be affected and will operate like usual.

Further, Hoskinson gave a confirmation and assurance on August 1 that the Vasil Hard Fork launch will push through and not experience delays as it’s currently going through final tests.

More so, Sygnum Bank has also announced that their clients can start staking Cardano and earn rewards from their pools.

ADA total market cap at $17.25 billion on the daily chart | Source: TradingView.com

Featured image from Changelly, chart from TradingView.com

Time to Buy Dogecoin? DOGE Price up 8% as Alternatives like Tamadoge also Rocket

Dogecoin closed out the week strong with an 8% pump on Sunday August 14th, up around 14% in total on its weekly candle. Heading into the latter half of the month the Dogecoin price is now up 60% from its lows – however Ethereum is up over 120% since crashing to $880, hitting just over::Listen

Dogecoin closed out the week strong with an 8% pump on Sunday August 14th, up around 14% in total on its weekly candle.

Heading into the latter half of the month the Dogecoin price is now up 60% from its lows – however Ethereum is up over 120% since crashing to $880, hitting just over $2,000 this week.

Dogecoin Price Today

The Dogecoin price now is just under eight cents – $0.079. That’s still a 90% retracement from its all time high the week Elon Musk went on Saturday Night Live – topping out at $0.74.

Also the Dogecoin price is being outperformed by its rival meme coin Shiba Inu – SHIB is one of the top crypto gainers today, up over 20% on this Sunday pump.

Bitcoin and Ethereum are up 1% on the day, their strong performance this month leading to a mini alt season – which some of the best crypto traders are still calling a bear market rally.

The total crypto market cap is now over $1.15 trillion but down around 60% from its November 2021 peak of $3 trillion.

This latest impulse move to the upside and sea of green in the market could turn red if Bitcoin fails to break out above the $26,000 – $28,800 resistance area.

The Dogecoin price drop over July also saw DOGE lose its 10th position on CoinMarketCap to Polkadot (DOT), and DOGE is still in 11th today even after this weekend pump.

Tamadoge Presale Selling Out Fast

Most retail investors that bought Dogecoin in 2021 or 2022 are now down on their investment – only those that got in early are in the green.

Potentially similar to buying Dogecoin in 2020, Tamadoge (TAMA) is a Doge meme themed ERC-20 token and the native coin of an upcoming play to earn game.

 

The Tamadoge presale has now raised 3.5 million USDT, almost 20% of its 19 million USDT hard cap and is active now until Q4 2022.

Its use case is having higher utility than Dogecoin as the rewards token of the upcoming Tamadoge battle app where players can mint, train, feed then battle with Tamadoge NFT pets.

Play and earn crypto games or ‘blockchain games’ have performed well despite the bear market according to the latest crypto market report by DappRadar. Shiba Inu’s latest pump is likely related to the successful beta rollout of its Shiba Eternity P2E game.

TAMA is also deflationary with a low fixed maximum supply of 2 billion compared to the infinite supply of Dogecoin which has risen to almost 133 billion due to being inflationary.

Visit the Tamadoge presale at buy.tamadoge.io and find links to the roadmap and whitepaper.

The official Telegram of this new meme coin project has also grown to over 23,000 members and is giving away $100,000 in its crypto airdrop promotion.

Find the details in the pinned messages (admins will not DM you first) or via Twitter.

The Tamadoge project also have a confirmed listing on LBank for TAMA after the presale concludes – alongside Uniswap. Being listed on both a CEX and DEX will add a higher potential trading volume.

 

Cardano (ADA) Regains Some Support But Rate Stuck Below Vital $0.50 Level

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