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Analyst Thinks ADA Price Could Hit $7 in 2024 as New Altcoin Also Receives Bullish Forecast appeared first on Coinpedia Fintech News
It’s been a mixed start to 2024 for crypto investors, with many top altcoins seeing intense volatility.
However, one popular analyst on Twitter predicted this week that Cardano’s (ADA) price could surge to $7 later this year if certain technical factors align.
While Cardano’s future looks bright, experts are also keeping an eye on Meme Kombat’s (MK) presale as the new meme coin gears up for its exchange listing in the coming weeks.
Crypto Analyst Predicts Cardano Could Surge Over 10x This Year
Leading crypto analyst @ali_charts sees significant upside potential for Cardano in 2024.
In a recent tweet, he pointed out that ADA’s current period of consolidation is very similar to its price action in late 2020 before its major bull run.
Specifically, Cardano traded sideways for several months, then began its uptrend – eventually leading ADA to post an all-time high.
Ali believes history could repeat itself, and if Cardano can break out of consolidation, it could trigger another strong rally by April.
He predicts an initial surge to $0.80, then a brief pullback to $0.60 to test support before reaching new highs.
Ali’s bull case scenario sees Cardano potentially hitting $7 later this year if buying momentum returns.
Of course, macro conditions and development milestones will play a role, but Ali’s analysis shows ADA’s technical setup looks promising for fresh growth.
Cardano Roadmap Packed With Platform Upgrades That Could Ignite Price Rally
Beyond technical analysis, Cardano has major platform upgrades on the horizon that could also boost ADA’s price.
For example, the Cardano blockchain will undergo a major network upgrade
called the Chang hard fork in the coming months.
This will move Cardano closer to a community governance model and decentralize control from IOHK.
Additionally, Project Catalyst
has over $18 million in treasury funds to support decentralized application (dApp) development on Cardano over the next year.
With conventions, voting events, and workshops planned, new DeFi and NFT projects could bring new users to the network.
Cardano is even rumoured to be introducing a native stablecoin solution, which would significantly improve its DeFi capabilities.
Given that there’s so much development activity and community participation on the way, ADA holders have plenty to look forward to in 2024.
If Cardano’s team can deliver on their ambitious roadmap, then @ali_charts’ price prediction could be well within reach.
Hot Gaming Token Meme Kombat Draws 100x Prediction from Prominent Influencer
While Cardano grabs headlines, a lesser-known cryptocurrency project is quietly gaining momentum and attracting attention from influencers.
Meme Kombat (MK) is an innovative crypto-gaming platform that allows users to bet on battles between popular meme characters.
The project is currently fundraising via a presale of its native MK token, which has already raised a remarkable $7.3 million.
In a recent YouTube video, popular crypto analyst Michael Wrubel highlighted Meme Kombat’s unique value proposition in combining memes and gaming.
He was highly bullish on the project’s potential, noting that it could be the “next 100x gaming meme crypto” if the game launches and gains traction.
Wrubel highlighted parallels with Axie Infinity and other crypto-gaming projects that created strong network effects from fun, community-driven games.
While still in its early stages, Meme Kombat checks many boxes in terms of vision and growth potential.
The project has built a community
of over 12,000 people on Telegram – and has even been ranked third on CoinSniper.net.
For investors seeking utility-driven meme coins that could see significant growth in 2024, Meme Kombat may be one to watch.
Those interested in the presale can
buy MK tokens for $0.279 in the final stage before the planned Uniswap listings..
