How are the coins Cardano (ADA), Bonk (BONK), and Pepe (PEPE) performing within the crypto market? Let’s take a look below at an overview regarding their prices and the latest news about them. 

Cardano: key updates and decentralization prospects

Cardano (ADA) is going through a phase of important developments and updates as it approaches complete decentralization, marking the beginning of a new era for the entire blockchain ecosystem.

A recent weekly report on development has unveiled crucial details about the progress achieved, highlighting what the community can expect in the near future.

The Cardano ledger team has reached a significant milestone with the implementation of CIP-0069, which enhances the functionality of PlutusV3. 

This update has allowed the correction of some key bugs, including the execution of scripts and the prevention of delegation to non-existent pools. These improvements are fundamental to strengthening the security and reliability of the core network technology.

In addition to the progress on the technological front, Cardano has seen further improvements in its wallets, smart contracts, and scalability infrastructures. 

According to reports, these developments precede the expected fork Chang, which will take place this month. 

This fork will pave the way for the “Age of Voltaire“, introducing innovative features such as treasury management, governance, and decentralized voting. 

Charles Hoskinson, founder of Cardano, stated that it is “the most significant milestone in the history of Cardano and for the sector as a whole.”

This phase aims to achieve a complete decentralization of the network, with important implications for the management and participation of the community.

The weekly report highlights some of the main successes of the Cardano network. To date, 171 projects have been launched, 1,364 projects built, and 132,527 token policies implemented. 

Furthermore, on the blockchain of Cardano there are 10.09 million native tokens and 92.3 million transactions have been completed.

Forecasts for the price of the crypto Bonk: the comparison with Cardano and Pepe 

Recently, Bonk outlined a descending channel pattern. These patterns, generally bearish in the short term, indicate a downward movement within a channel, but often foreshadow a long-term bullish reversal. 

The descending channel pattern is often followed by a price increase, but only after an upward breakout of the upper trendline. 

A descending channel is drawn by connecting the decreasing highs and lows of the price with parallel trend lines, indicating a bear trend.

Within a descending channel, a trader might decide to sell when the price reaches the resistance line. At the moment, the price of Bonk is approximately $0.00002345. 

If the current bear trend continues, the price of BONK could reach the resistance levels of $0.00002277, $0.00003066, and $0.00004479. In case of a trend reversal, the price of BONK could instead drop to the support level of $0.00001807. 

Bonk (BONK) currently presents a descending channel pattern that could suggest a long-term bull reversal, despite the short-term bear movement. 

Investors and traders must closely monitor resistance and support levels to identify buying and selling opportunities. The price forecast for 2024 will depend on the evolution of this pattern and market dynamics.

PEPE: analysis of the price and volatility in recent days

In the last 24 hours, the price of PEPE has risen by 16.83%, reaching 0.000013 dollars. Over the past week, PEPE has shown significant growth, increasing by over 16.0% from the initial value of $0.000010 to the current price.

The trading volume of the currency has decreased by 18.0% in the last week. However, the overall circulating supply of the currency has increased by 0.33%, reaching over 420.69 trillion.

This means that the current circulating supply corresponds to approximately 100.0% of the maximum supply, set at 420.69 trillion. 

Currently, PEPE is ranked 25th in the market capitalization ranking, with a total value of 5.22 billion dollars.

PEPE has shown a remarkable performance in price over the past week, with an increase in both price and volatility. 

Despite the decrease in trading volume, the increase in circulating supply indicates an almost complete availability of the maximum supply.