The Cardano token ($ADA) has surged by 10% since the start of the week after retracing from $0.38 and rebounding from previous resistance, which has now turned into support.
The rebound is significant as it shows $ADA can continue its bullish surge after breaking above an ascending triangle pattern to reach as high as $0.38 last week.
As ADA continues to rise, a handful of other altcoins also show signs of strong bullish price action as traders rush to get positioned as early as possible before the mammoth explosion ahead.
Cardano Rebounds From Previous Resistance and Surges 10%
After retracing from its epic 35% surge last week, $ADA has finally found support at the previous resistance (now flipped to support) that stalled the market growth between mid-June and mid-July.
The cryptocurrency had surged as high as $0.38 last week after breaking above an ascending triangle pattern last Tuesday.
Following the breakout, $ADA went on a tear to hit $0.38. More specifically, the coin was unable to close a daily candle above $0.357, provided by a bearish .786 Fib Retracement;
After hitting the resistance, $ADA started to retrace as it fell into the support around $0.30, the upper boundary of the ascending triangle pattern.
It has since rebounded from this support over the past 48 hours, surging by around 10% to reach the current $0.33 level.
Why is Cardano so Bullish All of a Sudden?
Besides the technical triangle pattern breakout, which usually signals a bullish surge after a positive breakout, the Cardano ecosystem itself is thriving following its DeFi expansion.
Before the triangle breakout, the DeFi network activity showed a substantial uptick in users, showing that the ecosystem was gaining considerable adoption.
Furthermore, the total number of $ADA locked into the DeFi ecosystem had experienced similar growth stats as it continued to surge to fresh all-time high levels;
However, one of the most potent catalysts to the price surge is primarily because a US judge stated that the $XRP token, another altcoin, would not be treated as a security token.
The ruling for $XRP helped to clear the uncertainty for $ADA, which was also under scrutiny by the SEC – the US regulator – after being labeled a security.
Now, traders are happy to re-enter Cardano with the confidence that $ADA won’t come under additional fire from regulators.
What Other Altcoins Are Also Seeing Prices Rise?
As the uncertainty regarding regulation clears for $ADA, traders are also searching for other potential altcoins that can see higher price rises alongside Cardano.
In particular, traders are starting to flock to a handful of cryptocurrencies that are seeing notable traction and ecosystem growth as they blaze past impressive fundraising milestones.
Specifically, the altcoins that are turning heads are Wall Street Memes ($WSM), Evil Pepe ($EVILPEPE), and BTC20 ($BTC20) – all of which offer unique prospects in the altcoin sector that are driving growth.
Wall Street Memes Blazes Past $16 Million as Investors Rush to Next Meme Coin Sensation
Wall Street Memes has captured all of the eyes of the crypto market after crossing the $16 million fundraising milestone in its presale, just 54 days after opening its doors.
The incredible growth behind the project shows the extraordinary levels of hype and FOMO as investors rush to get positioned as early as possible, making it the fastest-growing presale project in 2023.
Wall Street Memes intends to make a mockery out of the traditional financial system we currently operate in.
It’s doing this through a series of memes released on its social media profiles, which are becoming incredibly popular and generating over 40 million monthly impressions.
The popularity of the memes has made Wall Street Memes the go-to source on the internet for trading and finance-related meme content, helping the cult-like community for $WSM to grow beyond 1.1 million followers.
The memes have even captured the attention of billionaire tech tycoon Elon Musk, who has been seen commenting on their hilarious nature on multiple occasions;
The interest from Elon Musk sparked a wave of FOMO in the project as investors speculated that the Dogefather found another meme coin to love as dearly as Dogecoin.
Furthermore, $WSM is a community-driven project, with the entire $WSM supply being dedicated to the community and the team refusing to allocate any tokens for themselves.
Therefore, half of the total supply is sold in the presale, and the other half is reserved for adding liquidity to exchanges and providing community rewards.
Finally, the fact that Wall Street Memes has attracted an enormous following puts it in a position for a guaranteed major tier-1 exchange listing after its presale.
The major exchanges would benefit from the trading volume generated by the cult-like community, with experts predicting OKX or Binance to be the first to rush to list the token.
Overall, Wall Street Memes has created the perfect mixture of internet culture, meme-based humor, and decentralized finance to position itself as the next meme coin sensation on the market, capable of replicating the success of $PEPE.
With more than 70% of the tokens already purchased in the presale, and a handful of prominent influencers promoting the token, investors must act quickly to get positioned in $WSM at the lowest possible price before the token hits major exchanges after the presale.
Evil Pepe Raises Over $100,000 In Under 24 Hours As Investors Position for Pepe-Related Returns.
Evil Pepe ($EVILPEPE) is proving to be one of the most sought-after Pepe clones on the market, after its presale raised over $100,000 in under 24 hours of getting started.
The project is expected to be the latest Pepe clone to hit the market with a bang and provide at least 10x returns for early adopters as soon as it hits exchanges.
It represents the naughty side of the meme coin game and allows investors to embrace their dark side by buying $EVILPEPE.
The project attempts to replicate the price performance of other Pepe derivatives through its community-driven approach, expert marketing team, and hilarious memes.
Evil Pepe is that voice inside your head driving all of your degen trading decisions, convincing you to invest in that next potential rug-pull project – even when you know you shouldn’t be.
Now, Evil Pepe is creating a rebellion against the status quo of the meme coin world by combining the chaotic energy of meme culture with the allure of financial speculation.
Evil Pepe recently opened his presale, allowing investors to buy $EVILPEPE for a single price of $0.000033.
The presale for #EvilPepe is live on https://t.co/tSzIy5cOXV
The launch of this project is set to be a wickedly fun ride.. Nobody knows how to lure people in quite like Pepe, and #EvilPepe is king!
You know you want in.. Listen to your inner #EvilPepe 🐸#PRESALE #live #ERC20 pic.twitter.com/kF5PfeRSS7
— Evil Pepe (@evilpepe_token) July 18, 2023
Despite being evil by nature, Evil Pepe is not a scammer and is selling 90% of the tokens in the presale, with the remaining 10% reserved to be locked in the liquidity pool by Team Finance for a smooth trading experience and to alleviate the potential of a rug-pull.
There will be a $2 million hard cap for this project, so traders will need to be quick to get positioned into the next Pepe derivative that will soon be trending on DexTools following its presale.
With the presale gaining traction, prices aren’t expected to stick around for more than a week.
BTC20 Crosses the $250,000 Milestone in Just Three Days as Investors Buy $1 Bitcoins
BTC20 is a project that’s rewinding the clock and letting investors purchase an upgraded version of Bitcoin at just $1.
The token is an ERC20 version of Bitcoin built on the Ethereum blockchain with a verified staking contract that releases BTC20 tokens in line with the original Bitcoin block rewards schedule.
Those that stake BTC20 tokens earn a percentage of the rewards through the groundbreaking proof-of-stake mechanism, creating a stake-to-earn ecosystem.
Paying homage to Bitcoin in April 2011, BTC20 will be selling 6.05 million $BTC20 for $1.
Of course, the coin has a total supply of 21 million $BTC20, and the remaining 14.95 million $BTC20 will be locked in the staking contract to provide rewards for the next 120 years.
The project has intuitive economics because most of the supply will be locked in the staking contract as the majority of the 6.05 million $BTC20 sold in the presale will be locked up so stakers can earn rewards.
As a result, experts believe $BTC20 will see a supply shock as soon as it hits exchanges, meaning newcomers after the presale might struggle to buy the token, and its value will explode.
Overall, this upgraded version of Bitcoin provides a new opportunity to get invested at prices from over a decade ago, with tremendous growth potential ahead due to the limited supply on the open market.
With the presale selling $250,000 in just three days, investors will need to be quick to get invested at $1 before the token hits exchanges and surges.
