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Cardano is one of the most impacted crypto coins in the realm, yet it has yet to portray its full potential. The token has long been trading under bearish lines and cannot exceed the $0.40 price. With Bitcoin finally touching the $60K mark, the market is filled with renewed hope, wondering whether ADA can finally breach past its critical price junctures. Also Read: BRICS Pay 2024 Debut Promises Increased Trade, US Dollar Shift What’s Happening to Cardano? Cardano is currently trading at a $0.33 price level. The token recently underwent a significant fork upgrade, welcoming governance functionalities onto its chain. Cardano’s newest hard fork embraced governance-centric elements, including manoeuvring components like on-chain governance, treasury, and voting mechanisms. Despite ADA being a robust crypto coin with all crucial elements of success, the token cannot carve a new price path for itself. ADA is unable to surpass its critical price resistance level of $0.34, after which the...

The Shiba Inu team made a significant announcement last Friday confirming that the layer-2 solution Shibarium will introduce an automatic burning mechanism. Launching a hard fork with the new Bor version will upgrade the burning mechanism and enhance the ecosystem. SHIB’s price was expected to skyrocket after the announcement but went the opposite direction in the charts. Also Read: Shiba Inu: How To Make $1 Million If SHIB Reaches $0.01 Why Did SHIB’s Price Dip Despite the Shibarium Announcement? Source: Wallpaperflare.com Market Reaction We're launching a Hard Fork with the new Bor version! ️ On August 9, 2024, at 9:15 AM UTC, we're launching Bor version v1.1.2-bone. This version introduces a burn mechanism to enhance our ecosystem. Get ready for the #BURN! — Shibarium Network (@ShibariumNet) August 8, 2024 The market did not find the announcement bullish despite Shibarium’s promises of automatically burning SHIB tokens. The layer-2 blockchain will send the tok...