Cardano and Ethereum prices threatened by iDEGEN surge

Cryptocurrencies are going through a phase of heightened volatility as the excitement surrounding President Trump’s possible return to office fades. Despite this, greed continues to drive the market, with investors optimistic about a cryptocurrency-friendly environment under Trump’s administration.

While this bullish sentiment is bolstering most cryptocurrencies, Ethereum is facing criticism and internal leadership challenges within the Ethereum Foundation. In contrast, iDEGEN is experiencing a surge in popularity as it expands its reach through the video content introduced in its latest V3 upgrade. Beyond its current popularity, smart investors are recognizing its potential as a leader in the AI meme coin space.

Ethereum’s price is currently range-bound, struggling to break out due to negative sentiment surrounding its leadership. The Ethereum Foundation’s decision to host Trump’s meme coin has led to criticism from the community, impacting ETH/USD’s performance compared to other major cryptocurrencies like Solana and Bitcoin.

The lack of bullish momentum for ETH/USD has prevented a breakthrough above the critical $3,500 zone, with a bearish death cross formation indicating continued range-bound trading in the near future. The price range between $3,410 and $3,240 is a key area to monitor, with resistance anticipated at $3,479 and support at $3,195.

Meanwhile, iDEGEN is attracting attention for its social capital, positioning itself for sustained growth beyond its presale phase. The project, often likened to the “Bitcoin of AI meme coins,” has gained notable traction with over 1.44 million impressions and 21,000 holders of the 1,560 million $IDGN tokens sold. Despite facing bans and challenges, iDEGEN’s strong social capital has driven its success, drawing interest from meme coin enthusiasts and investors.

With its latest V3 upgrade, iDEGEN is leveraging video content to enhance its popularity further. The project’s imminent listing on 27th February has generated anticipation and FOMO among investors, recognizing the current opportunity to purchase $IDGN tokens at a favorable price of $0.0146. Early adopters have already seen substantial returns, with profits exceeding 13,000%.

In a similar vein, Cardano’s price action suggests a consolidation phase after forming a bearish double top pattern. Despite recent fluctuations, ADA/USD remains above the 20-day EMA at $1.0055, with potential resistance at $1.0471. With an RSI of 50 indicating range-bound trading, Cardano may experience continued pressure in the short term.

Overall, the cryptocurrency market continues to be influenced by a mix of optimism, criticism, and volatility, shaping the trajectories of major assets like Ethereum, iDEGEN, and Cardano in unique ways. Investors are navigating these dynamics to capitalize on opportunities and manage risks in this evolving landscape.