You Won’t Believe What Just Happened to Ethena’s Price! 😱🚀

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So, get this, the price of Ethena just decided to pull a stunt and leap a whopping 40.03% this week. I mean, what’s up with that? It’s like your typical guy on a Friday night, you know? Just suddenly decides to be a superstar, and now it’s hanging out at $0.8406. On top of that, it’s flaunting its Total Value Locked (TVL) like it’s the hottest thing since sliced bread, breaking some imaginary $10 billion barrier. And don’t even get me started on their synthetic dollar, USDe, which has somehow managed to become the third largest stablecoin by market cap. Why stop at third? Aim for number one, right? 🤷‍♂️

Now, there’s this whole $5 million daily ENA buyback thing happening, which is reducing the circulating supply. Great, just what we need, scarcity! It’s like my favorite deli running out of pastrami before lunchtime. By the way, whale addresses with between 100k to 1M ENA have shot up by 12%! They now control about 30% of the supply. Meanwhile, I’m just here wondering where the heck ENA is headed next. I guess we’re all just along for the ride! 🎢

On-Chain Analysis

Can you believe it? Ethena’s TVL hit an all-time high! August 9, 2025, to be precise. According to Messari – who I hope is reliable, or else we’re all in trouble – they’ve surpassed $10 billion! It’s like a huge influx of enthusiasm and funds. It resembles a group of people rushing to a sale on Black Friday. Everyone’s been flocking to the protocol like it holds the secrets to the universe! The steady rise in TVL seems to be somewhat in sync with ENA’s price recovery. What a surprise! Maybe investors actually know what they’re doing for once. 🤔


ENA Price Analysis

Let’s chat about the recent ENA breakout, shall we? On August 10th, it decided to jump 13.7% from $0.64 to $0.7277. Seriously, it’s like watching someone break free from a boring meeting! Now it’s finding its cozy spot around $0.84. Technical indicators say things are looking positively spry! But, PSA: the RSI-14 is at 74.76, which suggests we’re close to overbought levels. It’s like trying to squeeze one last slice of pizza after a big meal; not impossible but perhaps not the best idea! 🍕

And hey, the shorter RSI-7 is at a brisk 81.81. Like a kid on too much sugar! On top of that, MACD is in bullish territory with the histogram swinging positive. It’s all about momentum! Now, the exciting part – price targets! Upside marks hang around at $0.8741 and one at $1.02. But, a heads up, the sky might not be blue forever; $29.8 million worth of ENA flowed to exchanges on August 9-10, which could throw us a curveball. And should it dip below $0.7046, expect some profit takers to come around and pull the rug on us all. 🙈

FAQs

Why is the ENA price surging now?

Well, it’s a lovely combo of strong TVL growth, the USDe milestone, buybacks, and those sneaky whales accumulating more. Pretty neat, huh?

What are the key levels to watch for the Ethena price?

Keep your eyes peeled for $0.8741 and $1.02 on the upside, while support looms around $0.7046, $0.5638, and $0.4764. Fun times!

Is ENA overbought?

Yes, but don’t panic! RSI tells us it’s nearing overbought territory, but there’s still room for a cheeky bit of short-term action!

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2025-08-11 09:53