In recent days, the cryptocurrency market has shown mixed signals, particularly reflected in the prices of Cardano and Dogecoin. An analysis of current trends helps to understand how traders are reacting and what events may impact the market.
Current Situation of Cardano Price
According to the latest data, Cardano (ADA) price has dropped to $0.6669, a decrease of over 0.75% in the last 24 hours. The trading volume has also shrunk by 17.04%, now standing at $655.74 million, with the total market cap below $23.52 billion.
Over the past week, ADA has lost over 11.08%. This indicates a general market unease. Despite short-term dips, Cardano remains one of the top 10 digital assets by market value. Traders closely monitor ADA, as its direction will depend on whether it holds key support levels.
Dogecoin's Reaction to Elon Musk's Comments
The price of Dogecoin (DOGE) experienced a 15% decline, touching $0.16 after Elon Musk denied any connection between DOGE and government bodies. However, it then rebounded by 4% to $0.1738, giving it a market valuation of $25.35 billion.
Technical signals show mixed directions. Resistance for DOGE is set at $0.1945 and $0.22, with steady support at $0.16. A bearish MACD and negative EMA crossover point to short-term risks. If DOGE can hold its support range, it may attempt a recovery rally.
Key Achievements of BlockDAG
At the BlockDAG's Keynote 3 event, CEO Antony Turner confirmed that the project raised $200 million in under 10 months without venture capital support. The current presale has brought in $214 million, with over 19.1 billion BDAG coins sold to date.
Among the key achievements is the launch of the Beta Testnet V1 and plans to deliver 10,000 ASIC miners. CTO Jeremy Harkness explained the unique hybrid model that combines the Directed Acyclic Graph (DAG) structure with Proof-of-Work (PoW), allowing for high-speed transaction processing and improved energy efficiency.
Uncertainty surrounding Cardano remains, while Dogecoin's volatility is influenced by public comments. Meanwhile, BlockDAG is progressing steadily with significant technological updates and expanding functionality, which may positively affect its outlook.
