TL:DR;

• Cardano’s native cryptocurrency, alongside the rest of the market, has slumped hard on a weekly basis, dropping to well below $1.
• However, history shows that similar corrections have been followed by massive gains for the asset, with predictions of up to $6.

ADA’s recent price performance could be analyzed from two main perspectives – short-term and long-term. When looking at the past ten days or so, the landscape is quite gloomy. Within this timeframe, the asset went from $1.2 to under $0.8. Although it has recovered some ground to $0.9 now, it is still 25% down since December 12.

The broader landscape, though, shows a different picture. ADA’s price stood in a tight range between $0.3 and $0.4 for weeks ahead of the US presidential elections and the subsequent promising words by IOG’s founder, Charles Hoskinson.

It exploded to a new multi-year peak of over $1.3 later on, and even now, with its correction to $0.9, it is still 160% up in less than two months.

The first scenario is more painful for now, but when analyzing larger cycles, such as the current bull one, the second plays a more important role. Consequently, crypto analyst Ali Martinez focused on the long-term perspective to determine that ADA’s most recent correction could actually be a blessing in disguise.

He noted that the token has followed an ‘eerily similar pattern’ to the previous cycle in 2020. Back then, the asset’s first major retracement after a substantial rally “happened at the very same time as the correction we are experiencing today.”

As such, he believes ADA could shoot past its 2021 ATH of $3.09 (according to CoinGecko) and hit a new peak of $6.

#Cardano $ADA is following an eerily similar pattern to its previous cycle. Back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today.

$6 next! pic.twitter.com/CPrYdQQqyx

— Ali (@ali_charts) December 22, 2024

It’s worth noting that such a price tag would put ADA’s market capitalization at well above $200 billion, which would make the asset the third-largest, at least according to how the market looks today.

Bitcoin’s sudden drop below the $100,000 mark on December 19th marked the start of a market-wide downturn that saw the broader crypto market cap dip to as low as $3.13 trillion after hitting a new ATH of $3.79 trillion on December 17th.

Altcoins followed suit, and the meme coin space suffered some of the heaviest blows, dropping below $100 billion and having its top five tokens dip 10-30% over the week.

As panic selling bolsters the losses over the past 48 hours, presales like Crypto All-Stars (STARS) reflect investors’ confidence in the potential rebound of meme coins. Crypto All-Stars concluded its presale phase amidst the market-wide drop, which didn’t prevent it from raising over $2 million from December 19th to December 21st.

Although the presale is now closed, investors will still have a chance to add STARS to their portfolios once it hits the DEXs at 2 PM UTC on December 23rd.

Crypto All-Stars Seeks to Unite All Meme Coin Holders Under One Roof

One-quarter of the project’s total token supply is allocated to powering and the development of its crown jewel – the MemeVault. MemeVault will offer meme coin holders a unique opportunity to stake all their tokens on a single platform rather than relying on multiple solutions.

The staking protocol is built to support tokens from multiple chains and leverages the ERC-1155 multi-token standard to provide its users with a flexible and scalable solution for their meme tokens.

With the MemeVault, Crypto All-Stars also intends to reward its users by enabling them to passively earn STARS as they stake other tokens. According to the presale’s website, the MemeVault will support DOGE, PEPE, SHIB, FLOKI, MOG, and several other tokens from day one.

Those holding STARS will earn additional rewards, up to three times higher, depending on the amount they hold, creating a strong incentive to purchase and hold the tokens. This could create scarcity in the supply and drive the price of STARS, benefitting its holders and the broader STARS ecosystem.

Those who already entered the presale don’t have to wait for MemeVault’s release to accumulate more STARS, though, as they can still stake their tokens on the project’s website, which offers a 137% staking APY.

The All-Stars are pumping!

With 26M raised this launch is set to be the biggest ever! pic.twitter.com/lgHgLdGm21

— Crypto All-Stars (@all_stars_coin) December 20, 2024

The Broader Crypto Market Could Stabilize Soon – Here’s What That Could Mean For STARS

Since the Personal Consumption Expenditures (PCE), which is the Federal Reserve’s (Fed) favorite measurement for inflation, increased by just 0.1% from October to November and was lower than expected at 2.8% year-over-year, the statistics point to inflation cooling.

That means the Fed may introduce less aggressive inflation policies on Friday when $6.6 trillion in financial contracts tied to stocks, ETFs, and indexes are set to expire. This could provide a favorable environment for risk assets like crypto, giving STARS a chance to explode as the markets stabilize.

Anticipating a “Santa Claus rally,” meme coin expert ClayBro believes Crypto All-Stars is positioned to make “fantastic gains.”

Beyond initial gains on launch, he sees its innovative multi-token staking protocol as a potential catalyst for its future soars. ClayBro also encourages his 134,000-strong YouTube audience to stake the STARS tokens they own while the staking APY is still high.

Several New Meme Coins Thrive Despite The Bearish Sentiment – Could STARS be Next?

Established meme tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB) are struggling to make gains and currently face 19.33% and 19.43% losses over the week, respectively.

The rest of the top five list is doing no better as meme coin traders sell off their assets anticipating a further decline. However, while the bearish market sees the leading coins fall, some of those who joined it recently are making gains.

Fartcoin (FARTCOIN), which entered the market in October, flipped Popcat to take the spot of the 10th largest meme coin after it gained 24.27% over the week, jumping from $0.63 to $0.7834.

Numogram (GNON) has also been gaining traction after a relatively slow November and early December. The low-cap meme token is now recording gains of 181.31% over the week and is one of the few green tokens in a sea of red.

As new entries to the market make impressive gains, it’s no surprise the STARS presale gained momentum, as investors expect it to be the next big hit even if the bearish trend continues.

STARS Could Repeat The Success of Pepe Unchained and Catslap Thanks to Best Wallet

Best Wallet, arguably one of the fastest-growing Web3 crypto wallets today, has listed STARS in its Upcoming Tokens hub, making it visible to over 100,000 of its monthly users.

Previously, the wallet boosted the visibility of Pepe Unchained (PEPU) and Catslap (SLAP), which made impressive gains in the first 48 hours after their DEX launch. PEPU went up by over 600%, while Catslap skyrocketed by over 5,700% two days after its Uniswap listing.

Although the tokens faced a correction since, like most of the market, STARS could replicate their success and offer large returns after it launches tomorrow, and those gains could grow further once the MemeVault goes live.

STARS Could be Set for Big Post Listing Gains

Since December 10th, STARS raised at least $1 million daily, and if that trend continues after it hits the DEXs, it could see a meteoric rise, as it’s designed to be held thanks to the MemeVault.

Although the presale ended, the project saw its community grow by another 3,000 since Friday, reaching 31,000+ followers across X (Twitter) and Telegram, which could indicate an increasing interest among those who haven’t joined the presale.

According to audits by Coinsult and SolidProof, the project’s smart contract has no errors in its code, meaning investor funds are safe. Plus, 10% of the total token supply is set aside for liquidity, reducing the risk of a rug pull and lowering slippage.

Interested parties could stay in touch with Crypto All-Stars’ social media channels for further announcements surrounding its launch, which is scheduled for 2 PM UTC tomorrow on Uniswap.

The token might see a price pump, so getting in early on the launch could present a good opportunity for crypto investors.

Visit Crypto All-Stars

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After heading toward $100,000 yesterday, bitcoin’s price has taken another wrong turn as the asset has lost over three grand since then.

The altcoins are also deep in the red, with massive daily price declines from the likes of SOL, DOGE, ADA, AVAX, LINK, SHIB, and many others.

BTC’s Short-Term Recovery

Although the business week started quite spectacularly for BTC, whose price skyrocketed from $101,000 to a new all-time high of over $108,000 by Tuesday, it actually turned sour on Wednesday after the latest US FOMC meeting.

The primary cryptocurrency began a massive correction that culminated on Friday with a price slump to around $92,000. Thus, the asset had lost more than $16,000 in just 72 hours.

At this point, the bulls finally managed to halt the freefall and helped BTC climb to $95,000. It kept going north on Saturday morning and jumped to $99,600. As the community was preparing for a potential challenge for the six-digit mark, bitcoin’s trajectory reversed once gain.

BTC started to lose value once again and dropped to just under $96,000 hours ago. Despite being above that line now, bitcoin is still 2% down on the day.

Its market capitalization struggles to remain above $1.9 trillion, while its dominance over the alts has risen to 55% as most altcoins have suffered a lot more.

Alts Back in Red

Yesterday’s brief relief was halted as the altcoin market is back in red again. Ethereum failed at $3,500 and has slumped to $3,350 after a 3.5% daily decline. XRP was stopped ahead of $2.4 and has slipped to $2.24 now.

Even more painful daily declines are evident from SOL, DOGE, ADA, AVAX, LINK, SHIB, XLM, DOT, HBAR, APT, ICP, AAVE, and CRO, with losses of up to 11% in the case of APT.

The total crypto market cap has shed another $100 billion in a day and is down to $3.460 trillion on CG.