Is Cardano’s ‘Dead Coin’ Narrative Over? Analyst Sees ADA Hitting [Video]

Is Cardano’s ‘Dead Coin’ Narrative Over? Analyst Sees ADA Hitting $5.

NAIROBI (CoinChapter.com) — Cardano (ADA) has faced considerable challenges recently, with its price dropping 14.6% over the past two weeks. Despite this downturn, Cardano remains one of the top 10 cryptocurrencies by market cap, signaling its resilience.

The prevailing bearish sentiment has led some in the crypto community to label Cardano a “dead coin.” However, a new perspective is emerging, suggesting that the ADA narrative might not be over.

Nick Black from the “Discover Crypto” YouTube channel recently projected a bullish future for Cardano. He argued that the coin could reach $5, supported by ongoing developmental activities and promising technical patterns.

The analyst highlighted Cardano’s strong performance in developmental activities, where it ranked third among all crypto projects last month. This vibrant activity suggests a thriving ecosystem, challenging the notion that Cardano is a “dead coin.”