Founder and CEO of Crypto Capital Venture Dan Gambardello has taken to Twitter to comment on Cardano-based cryptocurrencies rising drastically in price.
Cardano-based crypto prices jump
According to TapTools, among native cryptos launched on Cardano, recently, many have shown massive price surges: BANK (up 19.66%, up 2.64K% within the last week), meme coin SNEK (up 39.84%, up 135.9% within a week), AADA (74.81% within the past 30 days) and many others.
Commenting on that, Gambardello shared several bullish thoughts on tokens based on the Cardano chain. He believes that this is just the beginning for these coins, since the majority of these coins have not been listed on centralized crypto exchanges yet, and the bull market has not yet begun. He stressed this particular argument by repeating it. Besides, Gambardello reckons that there will still be a lot of big dips for these coins, and everyone who wishes to get into them will have that chance.
Regarding #Cardano altcoins exploding, here is what I tell myself:— Dan Gambardello (@cryptorecruitr) May 29, 2023
1. It’s not even bull market
2. There will be massive dips, required to recycle through holders as people take profit. Does not mean failure.
3. Most don’t have CEX listings yet
4. IT’S NOT EVEN BULL MARKET
Here's why meme coins are here to stay, per Gambardello
The founder of the aforementioned company also shared his take on meme coins, which have turned into a real craze this year. News headlines especially have been filled with the names of the biggest and most popular meme cryptocurrencies — Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and others.
PEPE and Milady Meme Coin (LADYS) have emerged only recently and have already begun taking the market and users by storm. PEPE has seen a spree of listings on major centralized crypto exchanges and was even added by Binance to its Innovation Zone. Both PEPE and LADYS have been mentioned by the "great meme lord" Elon Musk, the owner (and now CTO) of Twitter.
Dan Gambardello tweeted that he believes "meme coins are here to stay." Their overwhelming value is caused by the fact that "they are driven by community."
Gambardello likened all non-meme cryptocurrencies to those based on memes since the majority of investors and traders are not interested in the actual technology that backs those non-meme currencies, according to him. These people, he tweeted, just want to be a part of something, and crypto gives them that chance.
Here is why memecoins are here to stay— Dan Gambardello (@cryptorecruitr) May 29, 2023
They’ve overwhelming value because they’re driven by community
Every crypto is kind of a memecoin, because at the end of the day, 90% of people don’t care about the actual tech
They just want to be a part of something#Bitcoin #Cardano
In accordance with his earlier tweet, he also holds some meme coins, but he prefers not to tweet about that, talking about Bitcoin and Cardano instead.