Cardano Dips Below $0.5; Shiba Inu Hits Key Level; Polygon Finds Strong Support

Amidst a turbulent cryptocurrency market, Cardano (ADA) faces challenges. With the broader market in decline, ADA's price has hit a crucial point at $0.5, potentially impacting its short-term direction.

Timeline of Cardano, Polygon, Polygon-ecosystem-token, Shiba-inu

Cardano Price Prediction: With the recent approval of Spot Bitcoin ETF, the eighth largest cryptocurrency Cardano(ADA) showcased sustainability above combined support of $0.46 and 50% Fibonacci retracement level. The renewed buying pressure surged the coin price by 7.3% to current trade at $0.53.

Polygon zkEVM, a prominent player in the Ethereum Layer 2 space, is entering an exciting new phase of its development with the launch of Stage 2 Beta. This move is expected to invigorate DApp growth and DeFi activity within the Polygon ecosystem.

Shiba Inu (SHIB) remains a token of interest on the market as consolidation grips the majority of altcoins in an ultimate push for recovery. Shiba Inu's network numbers are mostly bearish; however, they are at a tipping point where the balance may soon skew toward the bulls.

The Shiba Inu (SHIB) token, once a hotbed of frenzied on-chain activity, is currently facing a cryptic slump. Data indicates that the burn rate — a mechanism where tokens are sent to an inaccessible wallet to reduce supply — has flatlined to 0%.

Shiba Inu, a leading meme coin on the Ethereum blockchain, created a buzz in the crypto market as it recorded a colossal upswing in its weekly burn rate. According to on-chain data from Shibburn, a platform providing insights into SHIB burning, the burn rate surged nearly 6000%, capturing the attention of global crypto enthusiasts.

Shiba Inu whales have been gobbling up the recent dip in Shiba Inu, with on-chain data showing some accumulating an enormous 2.39 trillion SHIB between them. SHIB's price has been on a downtrend since the beginning of the month, falling as low as 20% from the yearly open to reach $0.000008735 on January 8th.

Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain, once again echoed a sense of frenzy across the broader crypto market on Saturday as the token marked a colossal upswing in its weekly burn rate. As per on-chain data surfacing over the crypto horizon, Shibburn, a platform facilitating SHIB burning

A cryptocurrency whale has recently sent a whopping 136.8 billion tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) to a newly created wallet, at a time in which SHIB's burn rate has been increasing significantly. According to on-chain analysis service Lookonchain, a newly created whale wallet accumulated the 136.8 billion tokens worth over $1.

Cardano (ADA) has recently stood out in the crypto sphere, gaining notable traction in price surge. This surge is largely attributed to the positive ripple effect from Bitcoin's spot ETF approval.

In a significant milestone for the Cardano ecosystem, Cardano (ADA) has emerged as a leader in wallet growth, outshining major cryptocurrencies such as Bitcoin (BTC), Dogecoin (DOGE), and (XRP).