Whales Go Wild: 180 Million ADA Tokens Snatched Up in a Week! 🐋💰

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Well, well, well! If it ain’t our old friend Cardano (ADA) making a ruckus again! It seems that the big fish, or as we call ’em, whales, have been busy scooping up over 180 million ADA tokens in a mere five days. Talk about a shopping spree! 🛒

In a tweet that could make even a catfish blush, Ali Marinez shared some juicy on-chain data from Sentiment, revealing that addresses holding between 100 million and 1 billion ADA have been on a buying binge. “Whales have bought over 180 million #Cardano $ADA in just the past week!” he chirped. Well, ain’t that a hoot? 🐦

Now, as of this very moment, ADA is trading at a modest $0.73, which is about an 8% drop from the last week. But fear not, dear reader! This token is still strutting its stuff with over $617 million changing hands in the past 24 hours. Quite the resilient little critter, isn’t it? 💪

According to the wise folks over at TradingView, ADA is stuck in a tight little range between $0.7316 and $0.86, like a cat in a box. It recently tried to break through a resistance zone at $0.79 but got sent packing. Better luck next time, ADA! 🎢

On the Daily chart, ADA is just hanging around, bobbing between the upper and lower Bollinger Bands at $0.71 and $0.83. The 200-day moving average at $0.75 is acting like a bouncer at a club, keeping the price from breaking out. If ADA can muster the strength to push above this level, we might just see a new rally. But if it falls below support, well, it might just be a one-way ticket down the rabbit hole. 🐇

But wait, there’s more! The community sentiment is as strong as a mule on a mission. According to previous reports, ADA ranked second only to Bitcoin in CoinMarketCap’s community-supported cryptocurrency votes. It garnered 4,844 votes with a whopping 87% of voters feeling bullish. Bitcoin barely edged it out with 87.3% of 9,438 votes. Talk about a close race! 🏁

This optimism is partly fueled by the prospect of a future Cardano-based ETF. Grayscale filed for a Cardano ETF on February 10, 2025, and the SEC was supposed to give a decision today, May 29. But alas, they’ve decided to keep us all in suspense, extending the deadline to October 26, 2025. If they give it the green light, investors will be able to dip their toes into ADA through regular brokerage accounts. How delightful! 🎉

Crypto analyst Dan Gambardello believes ADA is in a “pre-bull market” phase. In a recent tweet, he explained that “Cardano is mirroring past consolidations.” He pointed out that the current 176-day phase looks suspiciously like previous setups before rallies. And let’s not forget the upcoming Midnight airdrop, aimed at over 37 million users, which could be the cherry on top of this crypto sundae! 🍒

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2025-05-29 23:17