News from the crypto Atom, Shiba Inu, and Cardano

Despite the fact that the cryptocurrency market is currently dominated by Bitcoin price fluctuations, there are some cryptocurrencies that are following their own trends. Take a look at ATOM (Cosmos), SHIB (Shiba Inu), and ADA (Cardano).

Analysis of virtual currencies Cosmos (ATOM), Shiba Inu (SHIB), Cardano (ADA)

atom It is the native cryptocurrency of the Cosmos ecosystem.

In theory, Cosmos is an independent ecosystem and should not be influenced by Bitcoin or Ethereum.

In fact, the price trend of ATOM is greatly influenced by the price trend of BTC, and to some extent by the price trend of ETH, but it also has its own movements.

Notably, over the past 7 days, ATOM’s market value has increased by 12%. In comparison, ETH was -3% and BTC was +0.1%.

However, this positive differential for ATOM has declined sharply over the past 30 days, dropping 18% in that time.

In other words, just before mid-April, during the retracement before the halving, the price of the Cosmos cryptocurrency experienced a significant decline, far exceeding the prices of Bitcoin and Ethereum.

Since then, it has only recovered from $7.7 to $9.1.

But what’s surprising is that even though it managed to cross $14 in mid-March, the current price is actually lower than the $10.6 it was at the beginning of the year.

So, 2024 is not proving to be a great year for ATOM so far, as ATOM’s price is still down an impressive -79% from its 2021 high.

Suffice it to say, the current price is even lower than the price last May. This is because even 2023 was not a great year for the Cosmos cryptocurrency.

The uglier truth is that the current price is not much higher than it was in August 2020, before the start of the last big bull market, and it was also well below that threshold last October.

Since the implosion of the Earth and Moon in 2022, it appears that ATOM has lost all the gains from the last big bull market of 2021 and was never able to recover it.

SHIB (Shiba Inu) trends

Shiba Inu is one of the most important meme coins in existence today.

Although it is a token rather than a native cryptocurrency, the project has its own blockchain, which is just layer 2 of Ethereum.

The past few months haven’t been particularly happy for SHIB either.

It has fallen 1.5% in the past seven days and 16% in the past 30 days.

However, it should be noted that the current price of 23 cents is significantly higher than the 10 cents at the beginning of the year.

So while it was -16% over the past 30 days, it’s still +120% year-to-date.

However, it must be said that 2023 was not a particularly good year for Shiba Inu prices. Despite the start of the bull market in October, prices remained at 1/80,000 to 1/10,000 of the dollar. .

Currently, it is still down -73% from its 2021 highs, and it is the first time in just a few years since the Terra/Luna implosion two years ago that we saw a big rally this year. Only once. It went from less than 10 millionths of a dollar on some days to almost 36 millionths of a dollar, +260% in one week.

Being a meme coin, its price trend is often steep, with real spikes followed by sharp declines.

Moreover, we must not forget that other meme coins have recently landed on the crypto market that are performing better than SHIB in terms of price.

ADA (Cardano) performance

ADA is the native cryptocurrency of the Cardano blockchain.

Despite still being one of the top 10 cryptocurrencies by market capitalization, its price performance has been clearly disappointing.

It is down 1.5% in the past 7 days and -24% in the past 30 days. But the most shocking thing is the -24% year-to-date, which makes it the cryptocurrency with the biggest losses in 2024 so far among the top 15.

However, at least until April 12th, this 2024 performance was not bad, rising from $0.6 to $0.77, only to fall below $0.45 in recent weeks.

In other words, the strong performance of the first two and a half months of the year turned out to be just a flash in the pan.

However, if we extend the analysis to 2023, the situation improves slightly.

In fact, last year it started at $0.24 and rose to $0.6 thanks to the year-end bull market.

Therefore, while 2023 was clearly a positive year for Cardano, 2024 is now turning out to be a disappointing year instead.

In fact, despite the continued bull market, Terra/Luna has not been able to break above its pre-implosion $0.9, and the current price is still -85% compared to the all-time high of 2021 . .

Even the fact that the 2022 bear market bottom reached the end of 2023 does not allow us to better understand the medium- to long-term trends of this cryptocurrency.

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