Cardano Price Prediction: ADA Eyes $0.5 Amid Pump.Fun Derivative

Cardano price surged on August 23 before encountering a resistance of around $0.37. The asset has mostly stagnated around this price as bulls got rejected. Most traders are showing indecision as they are still determining whether the hype is over or if that was just the first wave. In the meantime, speculation is circulating in the Cardano X community about an incoming Pump.fun derivative on the network. Will cornering the Cardano meme coin niche finally give ADA the juice to hit $0.5?

Cardano Price Prediction: Can a Pump.Fun Derivative Rescue ADA?

The price of Cardano has started making moves. It soared 2.1% to $0.3765 but still remains two ranks below Tron (TRX) and Dogecoin (DOGE) after briefly entering the top 10. 

While Cardano price struggles to break above a strong resistance, rumor just broke out of a Pump.fun derivative coming to the ADA network. This may be just what is needed to unclog the price for further price hikes.

According to the speculation, three different projects are working on launching a derivative of the famous Solana-based token-launching platform.

So, we have ANOTHER pump fun derivative coming.

We already have two that are cooking.

One is launching today, and the other is launching sometime after….… pic.twitter.com/RtgcQ1caQR

— Opti (@store_optimal) August 22, 2024

The most anticipated launch is Snek.fun from the Snek (SNEK) team, the largest meme coin on the Cardano network. There is no official date yet as to when the launch will happen.

Traders Undecided While Whales Checkout

On-chain analysis reveals some bearish tendencies in ADA price and investors. Whether the sentiment will change as the Snek.fun news settles is yet to be seen.

Data from Santiment shows a bearish price-volume divergence on Cardano. ADA price rose from Aug. 16 to Aug. 23, while transaction volume dropped, indicating that the price buy momentum is weak and won’t hold. Consequently, bears may take over and drive the price lower.

Additionally, the large transaction volume metric from IntoTheBlock shows that whale activity increased from Aug. 18 to Aug. 22. Moreover, the Large holder netflow dropped from Aug. 21 to Aug. 22, indicating that whales may be offloading their bags cautiously anticipating a price drop.

Futures traders are also uncertain about the future, and the doubts are reflected in their trading behavior. Liquidation Map data from Coinglass shows an almost equal amount of ADA Shorts and Longs. However, the Shorts positions are slightly higher, signaling that the market is slightly bearish on ADA price.

ADA open interest (OI) increased by 0.7% over the last 24 hours, while the price dropped by 1.1%. This divergence suggests that traders are opening shorts, which may lead to further price drops.

ADA Price Analysis: $0.5 In Sight If It Overcomes This Obstacle

Although there’s a short-term recovery, ADA price is generally in a downward trend since the price is trading below the 200-day EMA. The recent candles show indecision near the 50-day EMA ($0.3773), indicating that the market is trying to decide between continuing the downtrend or starting a reversal.

If Cardano price breaks above $0.3773, it may target $0.4368 as the next resistance level, a 19.74% increase from the current price.

The MACD line is still below the signal line, showing weak bullish momentum, and the histogram is starting to turn positive, suggesting that the downtrend may be losing strength, but it’s not a strong buy signal yet.

The Chaikin Money Flow (CMF) value of 0.08 indicates a slight inflow of capital, which is bullish. However, like the MACD, it’s not strong enough to confirm a significant upward movement.

Cardano price prediction shows that if the asset fails to break and hold above $0.3773, it may confirm market weakness, leading to a further drop to $0.3145. This would invalidate the current bullish thesis

Frequently Asked Questions (FAQs)

1. What is the Snek.fun project?

Snek.fun is a highly anticipated project from the Snek (SNEK) team, which is the largest meme coin on the Cardano network.

2. Can Cardano price reach $0.5?

For Cardano to reach $0.5, it must break the $0.3773 resistance and maintain an upward trend. While a Pump.fun derivative could boost momentum, market sentiment is currently mixed, with cautious optimism tempered by potential downside risks.

3. What are the risks if ADA fails to break resistance?

If ADA fails to break and hold above the $0.3773 resistance level, it could confirm market weakness and lead to a further price drop, potentially down to $0.3145, which would invalidate the current bullish thesis.

✓ Share:

• Trending
• Price Analysis

• SEC’s Paul Atkins Pushes for On-Chain Capital Raising Without Uncertainty
• SEC Delays Decision On Staking For BlackRock’s Ethereum ETF
• SEC Delays Decision on Franklin Templeton’s Solana and XRP ETFs
• BNB Hits New ATH As Binance Partners With $1.6T Franklin Templeton
• Crypto Market, S&P 500 Rally as PPI Data Fuels Rate Cut Hopes

• Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
• SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
• Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
• Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
• Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.