Cardano’s Price Stuck at $0.45: Founder and Community Weigh In

Cardano's Price Stuck at $0.45: Founder and Community Weigh In

The ADA price stagnation around $0.45 has stirred reactions among community members, with Cardano founder Charles Hoskinson joining the debate. Since May 29, Cardano’s price has hovered around the $0.45 mark. Despite dipping below this level several times, ADA consistently returns to $0.45 after a few hours of trading but has yet to surpass it confidently. Consequently, some community members have humorously labeled ADA a “stablecoin.” Others have shared memes on X to illustrate ADA’s price situation.

Community Reactions

Cardano stake pool operator Stake with Pride shared a meme showing the Grim Reaper, bearing ADA’s logo, knocking on doors marked “45 cents.” The image suggests the Grim Reaper, representing Cardano, has breached the $0.45 mark twice but continues to struggle with the same resistance.

Related article: Charles Hoskinson Critiques Bitcoin’s Long-Term Viability

Cardano founder Charles Hoskinson noticed this wave of humor and joined in, sharing his version of the meme. It depicted the Grim Reaper in disbelief as it repeatedly fails to break the $0.45 mark. Although Hoskinson’s reaction carried a humorous undertone, it also reflected the frustration among Cardano community members regarding ADA’s recent price movements.

ADA Continues Trading at $0.45

At press time, ADA was still trading around $0.45, precisely at $0.4534 per token. At this price, Cardano is up 0.37% on the daily charts but down 0.82% over the past seven days. It’s worth noting that ADA has experienced prolonged price stagnation before, notably at $0.04 in 2019 and around $1 in 2021. 

Related article: Charles Hoskinson’s Warning on AI and Crypto Scams

While Hoskinson’s focus remains on the development aspects of Cardano, his engagement with the community’s humor highlights the ongoing sentiment towards ADA’s current price actions. 

The price stagnation, reminiscent of previous periods, continues to be a topic of both concern and amusement among Cardano enthusiasts.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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