Cardano price fell 2% as ADA competed with Shiba Inu and Toncoin in the top 10 cryptocurrency rankings and this new Dogecoin derivative ICO exploded.

Cardano’s price has fallen 2% over the past 24 hours, trading at $0.4515 as of 7 a.m. ET, while trading volume has surged 7% to $378.8 million.

Cardano competed against two other cryptocurrencies, Shiba Inu (SHIB) and Toncoin (TON), to secure the ranking of the world’s top 10 cryptocurrencies by market capitalization on the final day.

ADA was slightly pushed out of the top 10 spot by SHIB at times yesterday and today, but is now back in 9th place with a market capitalization of $16.1 billion. TON, which ranked 9th yesterday, was pushed down to 10th with $15.6 billion, and SHIB was pushed out of the top 10 with a market capitalization of $15.5 billion.

Considering that the gap between the three companies is still narrow, the battle for supremacy is expected to continue for the time being.

Cardano price prediction

While ADA is currently trading in the red, the coin has already begun to recover from its recent price drop, which can be seen in the chart below. Moreover, several technical indicators suggest that the price of Cardano is likely to surge, potentially putting some distance between the two competitors.

For example, the coin’s Bollinger Bands have widened significantly recently and the price is currently midway between the upper and lower bands. Widening bands are a bullish signal suggesting that ADA is likely to see a sustained recovery.

Another signal hinting at further growth is the coin’s Relative Strength Index (RSI) value, which had previously fallen into oversold territory but has now returned to neutral territory. This suggests that buying pressure for Cardano is increasing.

Although the coin’s RSI had already reached the neutral zone before falling again this morning, the widening Bollinger Bands along with the increase in RSI suggest that traders believe the recovery will be strong this time and that now is the time to buy and hold.

Currently, Cardano still has resistance at $0.450 before rising further, after which the next resistance is just above $0.455. However, if these two barriers are broken, ADA will have a clear path to $0.46 and potentially beyond. Alternatively, if the price is rejected, the coin finds strong support at $0.445, where it stopped its previous decline a few hours ago, and is likely to act as a bottom in case another rejection occurs.

A promising alternative to Cardano

While Cardano has potential for recovery, many experienced investors believe that the best potential for exponential profits lies in the cryptocurrency’s pre-sales, which often explode after launch.

PlayDoge (PLAY) may be one of the best examples, raising $200,000 in funding within just minutes of launch. A mobile-based P2E game that transforms the iconic Doge meme into a Tamagotchi-style 2D pet.

The project combines meme coins, peer-to-peer models, and gaming, all three of which have been receiving a lot of attention for several years.

Plus, it evokes a bit of ’90s nostalgia that’s sure to appeal to millennial investors who personally managed their own Tamagotchi toys as kids.

YouTube channel Cryptonews says PLAY has 100x the potential once it launches.

Selling for $0.005, PLAY has already raised $441,000 in just two days since launch. If you want to participate in the project, purchase within two days before the price increases.

Buy PLAY tokens with BNB, ETH, USDT or credit/debit card on the official website here.

Related articles:

PlayDoge (PLAY) – Latest launch on BNB chain

• 2D Virtual Doji Pet
• Play to get Meme Coin Fusion
• Staking and in-game token rewards
• SolidProof Thanks – playdoge.io