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946,179,495,223 Shiba Inu on Move Amid 9% Crash

Abdulkarim Abdulwahab
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946,179,495,223 Shiba Inu on Move Amid 9% Crash

Large Shiba Inu whales have moved nearly a trillion SHIB tokens in three transactions to a prominent trading platform as the crypto asset records a 9% drop in 24 hours.

In a recent post on X, market tracker Whale Alert called attention to one of the significant Shiba Inu transactions. The report disclosed that 461,631,206,896 (461.61 billion) Shiba Inu left the well-known market maker Wintermute on April 1, 07:54 UTC. The Shiba Inu tokens involved are currently worth $13.18 million.

Meanwhile, further scrutiny of on-chain data indicates that the destination is the U.S.-based trading platform Robinhood, renowned for its staggering holding of Shiba Inu. In particular, recent reports have hinted that Robinhood is the third most prominent entity holding Shiba Inu.

Robinhood Accumulates 946.17 Shiba Inu

Notably, Etherscan data shows that Robinhood received a more substantial 467,593,569,898 SHIB tokens 20 minutes earlier from an anonymous wallet before the 461 billion from Wintermute. 

However, Whale Alert failed to index this larger transaction. Before the recent disclosure, the last Shiba Inu movement the tracking system captured involved 1.4 trillion SHIB moved to KuCoin.

Furthermore, data indicates that within the last 24 hours also, about 17 billion Shiba Inu left the trading platform Cumberland for Robinhood. Cumulatively, Robinhood has taken a store of 946,179,495,223 (946.17 billion) Shiba Inu tokens within the last 24 hours.

SHIB Price Declines

Notably, these transactions occurred while Shiba Inu battled the market’s bearish forces. Within the past day, Shiba Inu moved farther away from the $0.00003 threshold, sinking to a low of $0.00002671. Considering its highest price within the past day at $0.00002921, the asset has crashed by 9.35%. 

This 24-hour trajectory has effectively wiped out its recent weekly gains. Five days ago, Shiba Inu soared to a high of $0.00003272 but failed to sustain the momentum after hitting a stern resistance point.

However, this bearish performance is not unique to Shiba Inu. The global crypto market is in a bleeding trend influenced by Bitcoin’s latest correction. The premier crypto asset has tanked to the $65K level from the recent high above $71K.

14 Meme Coins Like Shiba Inu and Dogecoin with 50x Potential from Top Crypto Whale

Lele Jima
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14 Meme Coins Like Shiba Inu and Dogecoin with 50x Potential from Top Crypto Whale

Whale Everything includes Shiba Inu, Dogecoin, Pepe, and Dogwifhat in the list of 14 meme coins that have the prospect of surging up to 50x this year.  

As crypto investors prepare for the highly anticipated “altcoin season,” top experts and market watchers have released varying lists of crypto assets that could give investors huge profits in the bull market. 

Pseudonymous crypto whale “Whale Everything” is the latest to share his analysis on the top crypto assets with huge prospects for massive growth. 

14 Meme Coins With 50x Growth Potential 

According to a recent X post, Whale Everything listed 14 meme-based crypto assets that he believes could rally up to 5,000% or 50X this year. 

Expectedly, the list includes some major meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Bonk (BONK), and Book of Meme (BOME). These assets have already shown promise this year, recording substantial rallies during the brief meme coin mania from late February to early March.

Other meme coins added to the list include Rick Quack (QUACK), Wen (WEN), PepeFork (PORK), Snek (SNEK), Grok (GROK), Duko (DUKO), Smolecoin (SMOLE), and Snap (SNAP). 

The X user speculated that the prices of these tokens would surge between 1,000% and 5,000% this year. Despite expecting such massive spike, the investor did not provide any rationale backing his prediction. 

Factors like the upcoming Bitcoin halving and meme coin’s ability to record substantial gains could help the tokens achieve the feat. 

SHIB, DOGE, PEPE, and WIF Surge to 50x  

In the hours leading up to press time, Shiba Inu was changing hands at $0.00002714. If SHIB rallies by 1,000% or 5,000%, as speculated by Whale Everything, the canine-themed token could reach $0.0002714 or $0.001357 this year. It bears mentioning that Shiba Inu was included in a similar list compiled by top crypto analyst JD last week. 

Similarly, DOGE, which trades at $0.1899, could rally to $1.889 or $9.445, according to Whale Everything’s prediction. 

Based on the investor’s speculation, WIF could surge to $39.5 or $197.5 by year ending. Furthermore, PEPE surging by 1,000% or 5,000% from its current value of $0.00000726 would put its price at $0.0000726 or $0.000363. 

YTD Gains of Top Meme Coins 

Since the beginning of the year, the four biggest meme coins on the list (DOGE, SHIB, WIF, and Pepe) have already demonstrated their prowess in recording significant price uptrends. 

In particular, Shiba Inu has witnessed a price spike of 165.8% year-to-date (YTD). While Dogecoin’s price has soared 113.5% since this year, Pepe’s price has increased by 464.5% within this timeframe. 

Notably, dogwifhat ranks among the best-performing meme coins since the beginning of 2024, as its price has surged by 2,448% YTD. 

Shiba Inu Whale Who Made $800K with $4K Misses Out on $10M Gain

Sam Wisdom Raphael
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Shiba Inu Whale Who Made $800K with $4K Misses Out on $10M Gain

A Shiba Inu (SHIB) whale who secured $800,000 with an initial $4,000 investment missed out on clinching a $10 million return due to hasty selloffs.

Shiba Inu stands out as one of the crypto assets with a rich history of turning peanuts to fortunes. The cryptocurrency’s meteoric surge during the 2021 bull run represented the largest price spike for any mainstream asset in crypto history.

Research from CoinGecko confirmed that Shiba Inu successfully transformed $12 to $1 million from 2020 to 2021. Multiple early investors rode on this rally to retirement, but some, while they entered the market rally, missed out on more substantial gains due to hasty selloffs.

Investor Misses out on $10M

Blockchain data reveals the case of a particular market participant in this category, who procured billions of Shiba Inu with a mere $4,000 when the asset still traded around the $0.00000003 price level. 

This investor leveraged Uniswap V2 to swap 3 Ethereum (ETH) worth nearly $4,000 for 122.92 billion SHIB on Jan. 31, 2021. At the time, Shiba Inu changed hands at $0.0000000325, allowing the market participant to amass more tokens for a discounted price.

However, as Shiba Inu began recording its price growth, this investor started selling off his holdings for meager profits. The first sale came up in April 2021, three months after his purchase. In this sale, the investor dumped 31.889 billion SHIB for 2 ETH worth $4,600 at the time.

This sale essentially allowed him to recover his initial $4,000 investment, as he looked to see how much Shiba Inu could present as returns. In the days that followed, he sold off additional tokens, dumping 7.6 billion SHIB on April 20, 5.7 billion SHIB on April 22 and 7.7 billion SHIB on May 7.

As Shiba Inu rallied to the $0.0000010 price territory, the market participant saw an opportunity to dump the remaining tokens he had, selling off 69.8 billion SHIB for 212 ETH on May 8, 2021. These ETH tokens were valued at $730K against the rates at the time. The last sale brought the investor’s total profit to $800K.

While the prospect of making $800,000 with $4,000, representing a 19,900% return on investment (ROI), is objectively attractive, this investor would have made much more if he had held onto the tokens until late 2021. At Shiba Inu’s all-time high of $0.00008845, the 122 billion tokens would be worth $10.8 million.

Similar Cases with Shiba Inu

In addition, at the current Shiba Inu Price of $0.00002688, the tokens are valued at $3.3 billion, representing a much higher return than the $800K. Certain investors have recorded cases of missed profits such as this, including an African entrepreneur who forfeited $108K by selling early.

Remarkably, Slash, a prominent YouTuber, revealed last year that he sold off his $2,000 Shiba Inu investment prematurely due to FUD, losing £300 pounds in the process. However, these tokens would have skyrocketed to a worth of $1 billion if he had held onto them.

Ripple Locks 800M XRP After Unlocking Only 500M, but XRP Still Falls

Abdulkarim Abdulwahab
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0
Ripple Locks 800M XRP After Unlocking Only 500M, but XRP Still Falls

American crypto payment firm Ripple has locked back 800 million XRP tokens in its escrow wallet despite deviating from its usual token release schedule.

Whale Alert recently documented Ripple’s latest escrow transactions via two posts on X. Specifically, in these transactions, Ripple relocked 400 million XRP in two separate movements, totaling 800 million tokens.

Ripple executed the first transaction on April 1 at 02:22 (UTC), locking 400 million XRP in the wallet labeled “Ripple 12.” Less than two minutes later, the second transaction took place, with another 400 million XRP locked in the wallet “Ripple 13.” At the time of the executions, the transactions were worth a cumulative $487,578,258.

Ripple Deviates From Escrow Unlock Pattern 

Notably, Ripple returned these 800 million XRP tokens to escrow about 12 hours after unlocking just 500 million XRP. Typically, Ripple’s monthly escrow execution, scheduled for the first day of each month, releases 1 billion tokens. However, Ripple’s escrow releases have followed an irregular pattern since February.

In February, Ripple initially released 600 million XRP but postponed executing the remaining 400 million until the end of the month. Similarly, in March, the company unlocked only 500 million XRP, failing to complete the expected 1 billion escrow execution for that month. 

In both instances, a failed transaction occurred at the initial escrow execution, which is believed to have impeded the completion of the escrow process. However, for April, there were no recorded failed escrow transactions.

So far this year, only January has witnessed Ripple’s characteristic escrow unlock pattern. It remains uncertain whether Ripple will follow the pattern observed in February by releasing an additional 500 million XRP for April to complete the customary 1 billion release.

Despite unlocking fewer XRP tokens than usual for the month, Ripple has consistently returned 800 million XRP to the escrow wallet.

Impact on XRP

Over the past 24 hours, XRP’s price has crashed below the $0.6 threshold and reached a low of $0.5935. This represents approximately a 4% price drop from the intraday high of $0.6172.

Ripple locking back a more substantial amount of XRP after unlocking 500 million has not saved the asset. Nonetheless, it is worth mentioning that XRP’s price decline mirrors the broader bearish market trend spearheaded by Bitcoin.

Ripple CLO Says SEC v. Coinbase Ruling Offered 4 ‘Confusing Definitions’ of a Crypto Ecosystem

Lele Jima
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Ripple CLO Says SEC v. Coinbase Ruling Offered 4 ‘Confusing Definitions’ of a Crypto Ecosystem

The Chief Legal Officer (CLO) of Ripple, Stuart Alderoty has again provided insights into the court decision in the SEC v. Coinbase legal tussle. 

On March 27, U.S. District Judge Katherine Polk Failla ruled in favor of the SEC, allowing the Coinbase lawsuit to proceed to the discovery phase. Alderoty has been commenting on the decision since it went public. 

Over the weekend, he suggested that the SEC presented a facade that would require the regulatory agency to provide strong evidence to support its allegations when the trial commences. 

Alderoty Faults Court’s Definition of Crypto Ecosystem  

In a post yesterday, Alderoty criticized the decision, stating that it offered four different “confusing definitions” regarding what constitutes a crypto ecosystem. The Ripple CLO attached excerpts from the ruling highlighting the confusing definitions of a crypto ecosystem. 

According to the document, the court emphasized that the SEC specifically defined ecosystem in a narrow sense to refer to the coordinated enterprise contemplated by the issuers and promoters of all 13 crypto assets the regulator labeled as securities in the Coinbase lawsuit, including SOL, ADA, and MATIC.  

However, the court gave a broader definition, stating that an ecosystem includes the issuer of the token, crypto asset providers like exchanges, wallet providers offering secured storage for the asset, the token’s underlying technology, as well as regulated financial institutions that have exposure to the token. 

Reacting, Alderoty characterized the definition of an ecosystem in the Coinbase lawsuit as legal gibberish. He noted that the SEC’s position suggests that by acquiring a token, an individual is inherently investing in an ecosystem, irrespective of the circumstances regarding the acquisition. 

Ripple Ruling Brought to Light 

Furthermore, Alderoty recalled an incident where the judge in the Ripple lawsuit, Judge Analisa Torres, recognized that the SEC had strayed from the Howey test as regards Ripple’s programmatic sales of XRP. 

In the ruling, Judge Torres held that programmatic investors did not expect to make profits from Ripple’s efforts because the sales were executed in blind bid/ask transactions. 

“[…] Programmatic buyers could not have known if their payments of money went to Ripple or any other sellers of XRP,” the ruling noted. 

Pro-XRP Lawyer Shades SEC 

With Alderoty mentioning the Ripple decision in his latest analysis, prominent legal expert Bill Morgan weighed in on the issue. Attorney Morgan shaded the SEC for classifying Ripple’s XRP sales into three categories but failing to provide sufficient evidence for claims on the third class: other distributions. 

Notably, Judge Torres held that there was no proof showing that Ripple funded its project by transferring XRP to third parties and having them sell the coins to raise funds. 

Commenting on the decision, Attorney Morgan speculated that the SEC might have considered other distributions of XRP to be part of an ecosystem but not a common enterprise. He noted that other distributions of XRP did not constitute investment contracts. 

XRP Decline Below $0.60, Here’s Why XRP is Falling Today

Sam Wisdom Raphael
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XRP Decline Below $0.60, Here’s Why XRP is Falling Today

The XRP collapse below the $0.60 pivotal level today is due to a confluence of factors, including the broader market drop, macro conditions and unique whale selloffs.

XRP is currently witnessing sustained bearish pressure after a quarter of underperformance. The crypto asset failed to leverage the broader market uptrend from last October to this March, closing the first quarter of 2024 with a meager 2.25% increase, when the rest of the crypto market surged by 63%.

In a more concerning turn of events, XRP has now collapsed 5.43% in April to breach below $0.60, offsetting the minor gains it picked up this year. The token is now down 2.9% year-to-date as the bears take control of the scene. 

XRP Down Amid Crypto Market Bloodbath

XRP’s latest bearish movements are attributable to multiple factors. One of these is the ongoing market-wide bloodbath. The broader crypto market is currently facing a retracement, slumping by 7.36% this month as Bitcoin (BTC) and other assets record declines. 

For context, Bitcoin is down 6.70% this month, Ethereum (ETH) has collapsed by a steeper 8% drop, while Solana (SOL) is currently facing a 10% decline within the same timeframe. This ongoing onslaught has impacted XRP’s value, triggering an equal drop in price.

US Manufacturing PMI Data

Meanwhile, the broader market collapse was triggered by macroeconomic conditions in the United States. The US Manufacturing PMI for March was adjusted to 51.9 from an initial 52.2.

This change, announced yesterday at around 13:45 (UTC), made traders less optimistic about a Federal Reserve rate cut in June, with odds dropping from 60% to 56.9%, according to the CME FedWatch Tool.

For the uninitiated, the Fed’s interest rate decisions impact risk asset markets, including crypto. High rates generally make safer investments like bonds more appealing than riskier ones like crypto. 

Fed Chair Jerome Powell’s comments last week suggested the Fed is not rushing to cut rates, which does not bode well for crypto. Ongoing inflation concerns, despite a slight ease in the Core PCE price index, remains a reason for the U.S. Central Bank to keep rates higher for some time.

With the recent manufacturing data hinting at a stronger economy, further reducing chances of a potential rate cut, the crypto market took a hit. Investors have seen the possibility of high rates continuing and are now moving their capital from crypto to less risky investments like bonds.

XRP Investors in Distribution Campaign

Another factor compounding the bearish pressure on XRP is a distribution campaign embarked on by whales and sharks. Data from Santiment confirms that up to three tiers of addresses holding between 10,000 to 10,000,000 XRP tokens, have persistently reduced their balances since the start of the year.

XRP Addresses
XRP Addresses | Santiment

Specifically, investors holding 10,000 to 100,000 XRP collectively had a balance of 6.86 billion XRP as of Jan. 1. This figure has dropped to 6.77 billion as of press time. Within the same timeframe, the balance of those with 100,000 to 1,000,000 XRP has slumped from 6.72 billion to 6.63 billion XRP.

Similarly, whale addresses holding between 1,000,000 and 10,000,000 XRP have seen their cumulative balance decline from 3.72 billion on Jan. 1 to 3.63 billion today. This sustained selloff campaign has contributed to XRP’s downward pressure, as investors pivot to other assets in fear of missing out on the bull run.

While XRP has held up better than the broader market amid the ongoing downturn, it still performs below par compared on a year-to-date basis. The token currently changes hands at $0.5966, having collapsed underneath the crucial $0.60 support level.

Analyst: XRP Q1 Close Can Set Stage for Rally to $43

Sam Wisdom Raphael
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Analyst: XRP Q1 Close Can Set Stage for Rally to $43

Notable market analyst EGRAG recently spotlighted XRP close of the first quarter of 2024, calling attention to a possible push toward a $43 price.

XRP has not performed as impressively as the rest of the market this year, as the first quarter comes to a close. The token only closed Q1 2024 with a 2.2% gain, while Bitcoin (BTC) surged by a whopping 68% and Ethereum (ETH) recorded a 59% appreciation.

A Multi-Year Symmetrical Triangle

Despite the unimpressive performance, analysts such as EGRAG remain confident in XRP’s potential to reach greater heights. In one of his recent analyses, EGRAG identified a multi-year symmetrical triangle that XRP has traded within since January 2018.

The asset’s first attempt at breaching the upper trendline of this triangle occurred in April 2021 when it rallied to $1.96. However, the resistance at the trendline foiled the cryptocurrency’s campaign. XRP pushed to breach the trendline again last July but faced resistance at $0.93.

Following the close of the first quarter of the year, data from EGRAG’s accompanying chart suggests that XRP has two possible directions from its current position in the symmetrical triangle. 

One of these directions involve a drop to the lower trendline of the symmetrical triangle, aligning with a low of $0.44. EGRAG calls this point the door to ValHell, representing the start of a push toward lower price levels if the bears breach beneath the lower trendline of the triangle.

However, XRP also faces the possibility of pushing to bullish territories. This would materialize if the cryptocurrency records a breakout above the upper trendline of the symmetrical triangle. This upper trendline aligns with the $0.75 resistance point, which EGRAG calls the gate to Valhalla.

XRP Could Surge to $43

Once XRP breaches the gate to Valhalla ($0.75), the crypto asset could witness a push toward more substantial price gains. The first major resistance the asset could face on this journey is the ATH at $3.7. A push above this level could take XRP to Fibonacci 1.618 along the $6.4 price.

Despite the prospect of a new all-time high at this level, EGRAG presents more ambitious targets for XRP. He expects the asset to sail to a double-digit price, specifically $13.3, following a capture of the $6.4 price. EGRAG further sees XRP breaching $22 and $29 to reach an ultimate price of $43, aligning with Fib. 2.618.

To solidify his confidence in XRP’s prospects, EGRAG presented a separate analysis outlining the asset’s monthly movements. He stressed that if XRP closes March above the 21 EMA, it would confirm its strength, with a possible rally to $32.

XRP successfully closed above the 21 EMA, placing itself on the path to sustained bullishness. Meanwhile, the asset currently changes hands at $0.6130, down 2.37% over the past 24 hours amid the market-wide slump.

Step-by-step Guide On Kickstarting Your Crypto Trading Journey With QuantWise

Andrew MacGill
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Step-by-step Guide On Kickstarting Your Crypto Trading Journey With QuantWise

The ever-evolving cryptocurrency market brims with intriguing possibilities. But its complexities can feel overwhelming for newcomers. QuantWise steps in as your intelligent companion, helping you navigate the crypto landscape with confidence. This guide will show you how to set up QuantWise and leverage its AI-powered features to streamline your crypto trading experience.

What is QuantWise?

QuantWise is a one-stop platform designed to empower crypto enthusiasts of all levels. It combines crypto learning resources with powerful AI-powered trading tools. Here’s what you get with QuantWise:

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How to Get Started with QuantWise?

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Start Trading with CryptoGPT

All QuantWise subscriptions come equipped with CryptoGPT, a smart AI tool designed to automate crypto trades. It is a cutting-edge AI crypto trading tool designed for seasoned traders and those just starting out. It utilizes powerful machine learning algorithms and deep learning neural networks to analyze vast amounts of market data. This data includes historical price movements, technical indicators, social media sentiment, and news headlines. 

By processing these diverse data points, CryptoGPT identifies potential trading opportunities and executes trades with impressive precision. This eliminates the need for manual monitoring and intervention, allowing you to focus on other aspects of your crypto strategy. 

Conclusion

With QuantWise as your partner, you can navigate the dynamic world of cryptocurrency with greater confidence and efficiency. Remember, this guide serves as a starting point.  As you gain experience, explore the platform’s advanced features and customize your trading strategies to suit your crypto goals. Happy trading!

About QuantWise

QuantWise equips you with AI-powered tools, market intelligence, and unparalleled learning resources to help you become a powerful trader. Sign up today and unleash your trading potential!

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Analyst Says XRP and XLM Will Melt Faces Soon, Projecting 20X Rally to $13

Abdulkarim Abdulwahab
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0
Analyst Says XRP and XLM Will Melt Faces Soon, Projecting 20X Rally to $13

Technical analyst Charting Guy has asserted that investors in XRP and its mate Stellar (XLM) will soon wear melting faces as he has spotted a potential $13 movement.

In a recent post on X, Charting Guy acknowledged that XRP and XLM have been in consolidation phases for six years with hardly sustained bullish rallies. The discouraging trajectory has led some market participants to write these assets off as dead coins.

Meanwhile, Charting Guy noted that based on his specialized knowledge of crypto market charts, he cares less about prevailing market sentiments surrounding a coin. Instead, he focuses on technical suggestions.

He emphasized his confidence in identifying potential opportunities regardless of prevailing perceptions about a coin’s viability, stating:

“The charts tell the story.”

XRP and XLM Set for $10 to $13 Range

In his analysis, Charting Guy pointed out that XRP and XLM have ranged with higher lows and lower highs, forming a symmetrical triangle pattern. The analyst stressed that the observed formation in both assets is among the largest he has encountered, noting their breaking points are near.

For XRP, his break-out target lies within the $10 to $13 threshold. This range implies the analyst is expecting up to a 2,000% gain for XRP soon. 

With XRP and XLM showing a remarkable correlation in price performances, he noted that a similar $13 target for XLM is feasible.

Notably, other prominent market observers have similarly issued a $13 target for XRP. The prevailing factor has been the formed symmetrical triangle pattern and its explosive breakout potential.

$38 for XRP by Next Decade

Meanwhile, Charting Guy’s more ambitious outlook for a successful breakout is $38. However, he noted that the $38 projection may not materialize this bull cycle. Yet, he is confident of a three-digit value within the next decade.

In addition to his chart analysis, Charting Guy’s three-digit outlook for XRP and XLM is rooted in their role within the emerging financial landscape they champion. In particular, he cited Central Bank Digital Currencies (CBDCs).

He underscored the massive scale of disruption these assets are poised to bring to financial systems, which currently operate in the quadrillions of dollars.

Moreover, Charting Guy revealed that XRP and XLM comprise his most significant investment positions. He noted that this decision was solely based on the compelling bullish insights derived from chart analysis.

12 Altcoins Like XRP, Shiba Inu with 1000% Potential: Technical Analyst

Abdulkarim Abdulwahab
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0
12 Altcoins Like XRP, Shiba Inu with 1000% Potential: Technical Analyst

Technical analyst JD has identified 12 cryptocurrencies, including XRP and Shiba Inu, which he believes have the potential for up to a 1,000% gain in this bull market.

In a recent post on X, analyst JD disclosed that he has repeatedly shared transformative crypto recommendations with the community for some time. He highlighted impressive gains ranging from 400% to 3,300% for certain coins he had recommended.

Confident about his ability to identify crypto gems, he singled out 12 tokens that he believes can deliver outstanding performances in this cycle. Specifically, the analyst emphasized that these tokens could surge by 400% to 1,000% once the eagerly anticipated altcoin season begins.

The list included some of the most prominent crypto tokens, such as XRP, Shiba Inu (SHIB), and Cardano (ADA).

XRP, Shiba Inu, Cardano (ADA) to 10x 

Notably, the analyst did not provide the additional reasoning behind his confidence in these assets beyond his acclaimed history of spotting gems.

At press time, XRP trades at $0.61. Expanding by 400% or 1,000%, as JD suggested, would put its price between $2.44 and $6. 

Notably, the projection is not far off from other prominent market watchers’ popular targets of $5 and $10 for XRP this bull season.

Similarly, the analyst expects Shiba Inu to trade between $0.00011448 and $0.0002862 in a full-blow altcoin market, considering SHIB trades at $0.00002862. The targets represent an unprecedented value, given Shiba Inu peaked at $0.00008845 in 2021.

Likewise, Cardano (ADA) growing by 1,000% from its current value of $0.6294 would put its price at approximately $7. Renowned analyst Ali Martinez has argued this possibility after examining ADA’s price trajectory over the past few years.

As The Crypto Basic reported, Martinez asserted that Cardano’s consolidation phase may end this month before setting out for $7.92. The analyst noted similarities between ADA’s current consolidation phase and those before its explosive rallies in 2021.

Other Tokens with 10x Potential

Other prominent crypto projects that featured in JD’s roster of tokens with 10x potential include Poltakdot (DOT), Chainlink (LINK), and Dogecoin (DOGE). 

Additionally, the analyst is similarly bullish about Verasity (VRA), Curve DAO (CRV), Hedera (HBAR), and Oasis Network (ROSE). Meanwhile, JD picked PEPE and Solana’s BONK alongside Shiba Inu in the meme coin landscape.

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