The Cardano (ADA) community is abuzz with reactions as the price of ADA remains stagnant around the $0.45 mark. This situation has prompted Cardano founder Charles Hoskinson to join in the debate and share his thoughts.
Since May 29, Cardano’s price has been consistently hovering around $0.45. Although it has dipped below this level multiple times, it always manages to bounce back after a few hours of trading. However, it has been unable to break through the $0.45 resistance confidently.
As a result, some members of the Cardano community have started referring to ADA as a “stablecoin.” Interestingly, others have taken to expressing their views through memes on social media platforms. For example, a Cardano stake pool operator named Stake with Pride shared a meme featuring the Grim Reaper with ADA’s logo, knocking on doors marked “45 cents.” This meme implies that Cardano, represented by the Grim Reaper, has successfully destroyed the $0.45 mark twice in the past but is still struggling to overcome it once again.
Hoskinson, the founder of Cardano, noticed this wave of humor and decided to respond. He shared his own version of the meme, depicting the Grim Reaper in disbelief as it fails to destroy the $0.45 mark despite numerous attempts. While Hoskinson’s reaction carries a humorous undertone, it also reflects the frustration felt by many members of the Cardano community regarding ADA’s recent price movements.
It is worth noting that Hoskinson rarely comments on the price of ADA, choosing instead to focus on the development aspect of Cardano. This strategic approach aims to enhance the widespread adoption of ADA in the long run.
As of now, ADA is still trading around the $0.45 mark, specifically at $0.4534 per token. In the daily charts, Cardano has seen a 0.37% increase, but over the past seven days, it has experienced a 0.82% decrease.
It is important to remember that ADA has faced extended periods of price stagnation in the past. In both 2019 and 2021, the asset remained stagnant for a significant amount of time. In 2019, ADA hovered around $0.04, while in 2021, it remained around the $1 mark.
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