TapTools reports that several native cryptocurrencies launched on the Cardano platform have experienced significant price surges recently. For example, BANK has seen a rise of 19.66% and an astonishing increase of 2.64K% within the last week. Similarly, the meme coin SNEK has surged by 39.84%, showing a remarkable growth of 135.9% over the course of a week. AADA has also performed well, notably increasing 74.81% in the past 30 days. These are just a few examples of the many cryptocurrencies on Cardano that have demonstrated impressive price gains.
Gambardello, the founder of Crypto Capital Venture, expressed a bullish outlook on tokens built on the Cardano blockchain, stating that their recent price surges are just the initial stages. He believes that the majority of these tokens have yet to be listed on centralized cryptocurrency exchanges, and the bull market is still to come. This argument was reiterated to emphasize its significance.
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Additionally, Gambardello anticipates that there will be significant price corrections for these tokens in the future, providing potential opportunities for those interested in investing in them.
Gambardello Explains Why Memcoins Are Here to Stay
Dan Gambardello tweeted that he believes “meme coins are here to stay.” Their overwhelming value is caused by the fact that “they are driven by community.”
Memecurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and others have frequently made headlines and garnered substantial public interest.
PEPE and Milady Meme Coin (LADYS) have quickly gained momentum since their recent emergence, capturing the attention and interest of the market and users alike. PEPE has experienced a series of listings on prominent centralized cryptocurrency exchanges, and it was even included in Binance’s Innovation Zone.
Notably, both PEPE and LADYS have received mentions from Elon Musk, the influential figure known as the “great meme lord,” who is Twitter’s owner and now CTO.
Related also: 3M Cardano Addresses in Loss as Crypto Investors Face Losses
Comparison Between Non-meme and Meme-based Crypto
Gambardello drew a comparison between non-meme cryptocurrencies and meme-based cryptocurrencies, suggesting that the interest from investors and traders in both categories is primarily driven by factors beyond the underlying technology of these currencies.
According to Gambardello, many individuals simply desire to be part of a larger movement, and the world of cryptocurrency offers them an opportunity to do so.
In line with his previous tweet, Gambardello also possesses holdings in meme coins, although he chooses not to discuss them publicly. Instead, he focuses on tweeting about Bitcoin and Cardano, highlighting his preference to engage with these cryptocurrencies in his online discussions.
