Today, we analyze the price trends of ADA, the native crypto of Cardano, the memecoin Pepe, and Xai.
Apparently, there is someone who is outperforming Bitcoin (BTC) and Ethereum (ETH)
The performance of the crypto Cardano $ADA: surpassed by PEPE and Xai
The price performance of ADA (Cardano) is not particularly exciting.
In the face of a +11% increase in Bitcoin and a +16% increase in Ethereum in the last seven days, Cardano is actually recording a -5% decrease, despite today’s +2% increase.
However, extending the comparison to a month ago ADA rises to +34%, which although much less than the +60% of Ethereum, is still a good gain.
Compared to the beginning of the year, the price of ADA has increased by 24%, so it is evident that it has experienced some ups and downs, while Bitcoin is at +70% and Ethereum at +78%.
The fact is that in this 2024 the price of ADA initially dropped, going from $0.6 to $0.5, then until February it traded sideways, and only starting from the 10th of last month it began to rise.
Moreover, even 2023 had not been good at all until October, that is, the resumption of the crypto markets.
It must be said, however, that compared to last year’s minimum peak ($0.24 on October 19, almost equal to the bottom of the 2022 bear market), the price has more than doubled, as it has now risen above $0.73.
The problem with Cardano was precisely 2023, because the bear market of 2022 had ended at the beginning of 2023 for the main cryptocurrencies, while for ADA it continued until well past the middle of October.
After all, the Cardano project doesn’t seem to be making big strides forward, so at this moment the price of ADA is limited to moving in reflection of the entire crypto market.
Just think that it is still even at -76% from the historical highs of 2021, while for example Bitcoin had surpassed them last week.
At this moment it is difficult to imagine something that can unpin Cardano from this trend, so much so that it has now slipped to eighth position for market capitalization, surpassed even by XRP.
Pepe’s performances
A completely different story is the one that must be told for the memecoin Pepe.
PEPE is a token on the Ethereum blockchain born last year as a memecoin of the meme “Pepe The Frog”.
Its price has risen by 8% in the last seven days, and even by 800% in the last thirty.
Since it landed on the crypto markets less than a year ago, after the 2021 bubble and the 2022 bear market, it is not surprising that a few days ago it reached its all-time high value of 9.8 millionths of a dollar.
However, the current speculation on the price of Pepe seems to be just a speculative bubble, in some ways similar to the one that was recorded at launch.
Indeed, on the day of its landing on the crypto markets, in April 2023, its price was about 0.2 millionths of a dollar. In just two weeks, it recorded a sensational +1,750% increase, rising to 3.7 millionths.
Later that bubble burst, and the price ended up returning to 0.6 millionths in October.
However, when the crypto markets started to rise again, they also dragged Pepe along, which had already almost tripled its value compared to October by December.
The new bubble started to inflate at the end of February, that is a couple of weeks ago, and since then it has already recorded a +700% increase.
The first bubble lasted about two weeks, and the second one is also lasting about two weeks: at this point it could be ready to burst, even though the current situation of the crypto market seems a bit different from the one at the beginning of December.
The performance of Xai
XAI is a token on Arbitrum, one of the main layer-2 solutions for Ethereum.
This is a token created with the aim of serving as currency for the next generation video game market.
The idea is to allow players to own and trade digital items in their favorite games without the need to use crypto wallets.
It was launched on the crypto markets only in January of this year, just a couple of months ago.
It is therefore not surprising that its all-time high was recorded today at $1.6.
The initial price at the time of launch on the crypto markets was about $0.7, and although on the day of launch it dropped below $0.5, starting from early February it began to rise.
Within a couple of weeks it had already risen above $1, and then continued its climb in the second half of the month. In March, after a brief descent, it returned to the levels of late February and then rose a little more.
Right now it is +15% compared to seven days ago, and +65% compared to thirty days ago.
It is difficult to deepen the analysis on the price of Xai because it still has too little historical data to analyze, but since it landed on the crypto markets during a bull run, it is quite normal, paradoxically, that it is already registering such performances.