ADA competes with Shiba Inu and Toncoin for top 10 crypto rankings, Cardano price drops 2%, and this new Dogecoin spin-off ICO soars

Cardano prices have fallen 2% over the past 24 hours to trade at $0.4515, while trading volume has surged 7% to $378.8 million.
Cardano has been competing with two other cryptocurrencies, Shiba Inu (SHIB) and Toncoin (TON), for a spot in the top ten cryptocurrencies by market capitalization in the world over the past day.
ADA was squeezed out of the top ten yesterday by SHIB and was squeezed out at times today, but has now re-entered the ninth place with a market cap of $16.1 billion. TON was ranked ninth yesterday and has now slipped to tenth place with $15.6 billion, while SHIB has a market cap of $15.5 billion and has been squeezed out of the top ten.
The gap between the three remains small, and the battle for dominance is likely to continue in the near future.
Cardano Price Prediction
Although ADA is currently falling, the coin has begun to recover from its recent price drop, as shown in the chart below. In addition, multiple technical indicators suggest that Cardano price has the potential to rise significantly and may put some distance between itself and its two competitors.
For example, the coin’s Bollinger Bands have recently expanded significantly, with the current price being halfway between the upper and lower bands. The widening band is a bullish sign, indicating the potential for a sustained recovery for ADA.
Another signal that hints at further growth is the coin’s Relative Strength Index (RSI) value, which has returned to the neutral zone after having previously dropped into the oversold territory. This suggests that buying pressure is accumulating for Cardano.
Although the coin’s RSI has moved into neutral territory and fell again earlier today, the widening of the Bollinger Bands coupled with the increasing RSI suggests that traders believe that this recovery will be very strong and now is the time to buy and hold.
Currently, Cardano still has resistance to break at $0.45, and resistance above that is located at $0.455. However, if these two resistances are broken, ADA will have a clear path to $0.46 and possibly even beyond this price level. Alternatively, if its price is rejected, the coin has strong support at $0.445, which stopped its previous decline a few hours ago and may serve as a bottom support in case of another rejection.
Promising alternatives to Cardano
Despite Cardano’s potential to recover, many experienced investors believe the best potential for exponential gains lies in cryptocurrency presales, which tend to rise rapidly after release.
PlayDoge (PLAY) is probably a good example of this as it raised $200,000 within minutes of its launch. It is a mobile-based P2E game that transforms the iconic Doge meme into a 2D image resembling a toy pet.
The project combines memecoins, P2E models, and games, all three of which have received widespread attention over the years.
Plus, it brings with it a dose of '90s nostalgia, which will almost certainly appeal to millennial investors who played with their own toy pets as children.
YouTube channel Cryptonews said PLAY has 100x potential when it goes public.
PLAY has raised $441,000 in just two days since its launch, and the selling price is $0.005. If you are interested in participating in the project, please purchase it on the official website in less than two days.
Purchase PLAY tokens on the official website using BNB, ETH, USDT, or a credit/debit card.
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