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News from the crypto Atom, Shiba Inu, and Cardano

Despite the fact that at the moment the crypto markets are dominated by Bitcoin price movements, there are some cryptocurrencies that follow their own trend: let’s examine ATOM (Cosmos), SHIB (Shiba Inu) and ADA (Cardano). 

Analysis of the cryptocurrencies Cosmos (ATOM), Shiba Inu (SHIB) and Cardano (ADA)

ATOM is the native cryptocurrency of the Cosmos ecosystem.

In theory Cosmos is an independent ecosystem, which should not be influenced by Bitcoin or Ethereum.

Actually, the price trend of ATOM is heavily influenced by that of BTC, and to a lesser extent by that of ETH, although with some movements of its own. 

In particular, in the last seven days the market value of ATOM has increased by 12%, compared to -3% for ETH and +0.1% for BTC. 

This positive difference for ATOM, however, is followed by a sharp drop in the last thirty days, during which it has lost 18%. 

In other words, just before mid-April, during the pre-halving retracement, the price of the Cosmos cryptocurrency experienced a sharp drop, much greater than that of Bitcoin or Ethereum.

Since then it has simply been bouncing back, going from $7.7 to $9.1.

What is surprising, however, is that its current price is actually lower than the $10.6 at the beginning of the year, even though in mid-March it managed to rise above $14. 

In short, 2024 is not proving to be a great year for ATOM so far, as its price is still down by a staggering -79% from the highs of 2021.

Just suffice to say that the current price is even lower than that of May last year, and this is because not even 2023 was a great year for the Cosmos cryptocurrency.

An even uglier fact is that the current price is not much higher than that of August 2020, before the start of the last major bull run, and that in October of last year it had also dropped heavily below that threshold. 

It almost seems that since the implosion of Earth/Moon in 2022, ATOM has lost all the gains from the last big bull run in 2021 and has never been able to recover them. 

The trend of SHIB (Shiba Inu)

Shiba Inu is one of the most important memecoins existing today. 

Although it is a token, and not a native cryptocurrency, the project has its own blockchain which is only a layer-2 of Ethereum. 

Even for SHIB, the last few months are not proving to be particularly happy so far. 

In the last seven days it has lost 1.5%, and in the last thirty days it is losing 16%.

It should be noted, however, that the current price of 23 cents is significantly higher than the 10 cents at the beginning of the year. 

So despite a -16% in the last thirty days, it still maintains a +120% since the beginning of the year. 

However, it must be said that 2023 has not been a particularly good year for the price of Shiba Inu, as it has only managed to go from 8 to 10 thousandths of a dollar even in the face of the beginning of the bull run in October. 

Currently, it is still down by -73% from the highs of 2021, and since the implosion of Terra/Luna two years ago, it has only made one significant upward movement this year, at the beginning of March, when in just a few days it went from just under 10 millionths of a dollar to almost 36 millionths, with a +260% in a week. 

Being a memecoin, its price trend moves in jumps, with real pumps often followed by dumps. 

Furthermore, it should not be forgotten that recently other memecoins have landed on the crypto markets that are performing better than SHIB in terms of price. 

ADA (Cardano) performance

ADA is the native cryptocurrency of the Cardano blockchain. 

Despite still being among the top 10 cryptocurrencies by market capitalization, its price performance is definitely disappointing. 

In the last seven days it is losing 1.5%, while in the last thirty days it is at -24%. However, what strikes the most is the -24% since the beginning of the year, which makes it the cryptocurrency with the highest loss in 2024 so far among the top 15. 

However at least until April 12th it had not performed badly in this 2024, going from $0.6 to $0.77, but only to drop in the last few weeks even below $0.45. 

In other words, the good results of the first two and a half months of the year have turned out to be just a flash in the pan. 

However, the picture improves slightly if the analysis is extended to 2023. 

Indeed, last year it started at $0.24, then rose to $0.6 thanks to the end-of-year bull run. 

So for Cardano, 2023 has been a clearly positive year, while instead 2024 is currently proving to be disappointing. 

The fact is that, despite the ongoing bull run, it has never managed to rise above the $0.9 it had before the Terra/Luna implosion, so much so that the current price is still -85% compared to the all-time highs of 2021. 

Even the fact that the bottom of the bear market of 2022 was reached at the end of 2023 does not shed a good light on the medium-long term trend of this cryptocurrency. 

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".