Cardano Price Plummets 5% As Traders Flock To This $3.4M ICO

The Cardano price dropped 5% in the last 24 hours to trade at $0.7228 as of 3.45 a.m. EST on trading volume that surged 15% to $888.06 million.

The ADA price dropped from 0.7561 to $0.7062 yesterday, and ever since then, it has been fluctuating between $0.70 and $0.73. ADA still remains higher than where it was in the early hours of Monday, when it dropped to nearly $0.60. However, it is also nearly 25% lower than last Friday, which shows how big of an impact Trump’s trade war had on the project.

Cardano Price Prediction

The last two days have been turbulent for the crypto industry, and Cardano’s price action is no exception. ADA saw its price drop from $0.77 to $0.72, attempt a recovery, and then drop even further. In the last 12 hours alone it has been going up and down multiple times, and even now, it is attempting to surge, but the resistance at $0.73 stands in its way.

Its Bollinger Bands have remained wide for the majority of the time, and the price has been fluctuating from the upper to the lower band in the last 12 hours, seeing major fluctuations.

ADA/USDT 15-minute chart (Source: TradingView)

The project’s Relative Strength Index (RSI) metric also shows that traders have been quite active with Cardano in the last two days. The RSI has been moving from the overbought zone to the oversold region on several occasions, rarely seeing any kind of stability.

In fact, even during these larger fluctuations, the RSI saw multiple smaller moves along the way, signaling that traders are buying and selling constantly, trying to make minor gains from scalp trades during this extremely volatile period.

Right now, the RSI is climbing from the lower levels of the neutral zone toward the overbought zone, heading from the value of 35 to the current value of 60. Whether it will manage to surge to 70 and possibly beyond remains to be seen, but for now, buying ADA is quite risky for anyone other than professional day traders.

If, however, you wish to buy and HODL the token, then buying it at a low price could be a solid option to consider, but there are much more promising alternatives to look into first.

Promising Alternative To Cardano

One of the best alternatives to Cardano right now is Meme Index (MEMEX) — a new meme coin project that has been in ICO over the past several weeks. The project became very popular very quickly, as it offers a unique new way to earn passive income from meme coins while also making it much easier to invest in these lighthearted tokens.

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Diving into meme coins? Why bet on one when you can own the whole meme kingdom? 📈 Learn how index investing with $MEMEX reduces risk and maximizes potential. #CryptoEducation #MemeCoinshttps://t.co/7P9aYCaBEn pic.twitter.com/wOhs2pBK16

— Meme Index (@memecoin_index) February 7, 2025

Instead of building up their portfolio from scratch, investors can simply invest in one of the project’s four indexes — baskets of meme coins — each of which comes with a different degree of risk. The safer options are Titan and Moonshot, which focus on some of the highest-ranking meme coins, most of which are established and relatively safe projects.

MidCap and Frenzy, however, deal with projects that could either blow up or flop, with Frenzy being the riskiest of them all. To invest in any of these indexes, you need MEMEX — the project’s native token that does not only let you invest in meme coins but also gives you some say when it comes to picking which meme coins should go into which index.

So far, its ICO has raised over $3.41 million, and continues to pull investment in at a rapid pace. Meanwhile, MEMEX itself is selling for only $0.0159713, with its next price increase scheduled to take place within the next 2 days. In these volatile times, when buying any single crypto comes with extreme risk, investing in an index could be a much safer option Even ClayBro, a crypto YouTuber with over 136k subscribers, agrees that the project emerged at the perfect time to see great adoption.

Interested investors should buy MEMEX before a price hike in 43 hours.

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