How are the coins Shiba Inu (SHIB), Cardano (ADA), and Helium (HNT) performing within the crypto market? Let’s see in this article some updates regarding the prices and the latest news about them.
Shiba Inu (SHIB): forecasts and challenges for the future of the memecoin
Shiba Inu (SHIB) has recorded a slight recovery of 2% in the last 24 hours, but the overall trend remains uncertain.
Currently, the asset is still down by 4.4% on a weekly basis, 5.4% in the 14-day charts, and 3.9% compared to the previous month.
Despite these fluctuations, SHIB is consolidating around the level of $0.000013, offering hope to its supporters who continue to bet on a long-term bull.
In 2021, during the bull run of criptovalute, Shiba Inu achieved extraordinary results, positioning itself as one of the most promising memecoins.
However, in recent months, SHIB has struggled to maintain momentum, despite a significant bull run in March that quickly fizzled out. This has fueled the debate among analysts and investors about the future prospects of the cryptocurrency.
According to the researchers at Telegaon, SHIB could reach new all-time highs in the coming years, with a forecast of $0.0000943 by 2026 and the milestone of $0.10 (10 cents) between 2040 and 2050.
However, Changelly offers a more cautious view, predicting that SHIB could reach its maximum of $0.0001229877 only in 2027 and not surpass the $0.10 threshold before 2050.
A significant obstacle for SHIB is its enormous circulating supply, equal to 589 trillion tokens. Reaching higher values would require an unrealistically large market capitalization.
In any case, the reductions in supply over time could improve long-term prospects. The future of SHIB thus remains uncertain, but its supporters continue to bet on a gradual growth.
Cardano (ADA) in decline: the challenges after the hard fork Chang
The Cardano (ADA) ecosystem has undergone significant transformations in the past week, culminating with the anticipated hard fork Chang.
Despite the importance of this update, aimed at improving the network, ADA has continued to slip in the cryptocurrency market, losing its position in the top 10.
Currently, the market capitalization of Cardano has dropped to 11.74 billion dollars, relegating it to the 11th position. The cryptocurrency has been surpassed by Toncoin (TON), whose market value has reached 11.93 billion dollars.
At the moment, ADA is being traded at around $0.3263, marking a slight daily increase of 2.51%. However, this growth has not been sufficient to offset the 9.86% decline recorded over the entire week.
According to Changelly’s forecasts, the weekend looks bearish for Cardano, with a further decline between 1% and 4%. The asset is expected to close the week at around $0.305286, continuing its downward trend.
Despite the hard fork Chang being welcomed with enthusiasm by the founder of Cardano, Charles Hoskinson, as one of the most significant updates for the network, this did not have the hoped-for impact on the price of the cryptocurrency.
The market outlook for ADA therefore remains uncertain, with an increase in bear forecasts. The well-known supporter of Bitcoin, Adam Back, has even suggested that the value of ADA could drop by up to 90% from its current price.
In conclusion, Cardano will have to face significant challenges in the coming months to regain its position among the top 10 cryptocurrencies worldwide, facing an increasingly competitive market and growing bear notions.
The trend of Helium (HNT): a comparison with the crypto Shiba Inu (SHIB) and Cardano (ADA)
In the last two days, the native token of the Helium ecosystem (HNT) has recorded a remarkable performance, with a 21% increase, outperforming the cryptocurrency market.
This growth fits into a context in which the number of subscribers to Helium’s mobile network continues to expand rapidly, consolidating its position in the decentralized telecommunications sector.
According to the data from CoinMarketCap and TradingView, the price of HNT went from a low of $7.5 on September 5 to an intraday high of $8.35, levels not seen since March 2024.
This leap has brought HNT to the top spot among the biggest gains among the top 100 cryptocurrencies by market capitalization. While the rest of the cryptocurrency market has experienced a general decline, with Bitcoin down 2.5% and Ethereum (ETH) down 3%.
Helium Mobile, which uses the Helium network to connect to hotspots around the world, surpassed 112,000 subscribers in September, a number growing exponentially compared to the data from the previous year.
The number of global hotspots has also increased, going from just 11 to over 18,000 in a little more than a year. Additionally, showing a strong expansion in the United States, Western Europe, Latin America, and Asia.
The growing use of the Helium Mobile network, together with the DePIN (Decentralized Physical Infrastructure Networks) narrative, is helping to support the bull rally of HNT.
On a technical level, the price of HNT is being traded within an ascending channel, suggesting further gains.
If the token manages to overcome the resistance at $8.50, it could aim for a new target of $10.50, supported by the current robust technical support.
