Cardano founder aims jab at Solana; Shiba Inu and KangaMoon may break higher
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Charles Hoskinson, the founder of Cardano, commented on Solana (SOL) after the platform went offline. Some analysts are net bullish on Shiba Inu (SHIB) and KangaMoon (KANG).
Cardano founder taunts Solana over network outage
On Feb. 6, Solana stopped for six hours.
Though the network is now back up and running, Charles Hoskinson, the founder of Cardano, joked about this outage.
He shared a meme that showed a gamer blowing into a malfunctioning cartridge before inserting it into an early-model PlayStation. He wrote, “This always works.”
As competitors, these two altcoins have always had a friendly rivalry. Hoskinson once suggested that Solana can be a Cardano sidechain.Â
While Solana has built a reputation as one of the top altcoins, it has struggled with network stability.
Analyst bullish on Shiba Inu
One analyst thinks Shiba Inu is approaching a critical point where it may break its current bearish trend.
SHIB had held onto the crucial psychological support level of $0.000009 for a while before crashing further on Feb. 4. The meme coin has been trading around $0.00000890 and is waiting for a broader market recovery to rise above the $0.000009 threshold.
According to Crypto Rand, if SHIB recovers above this level, it could reach its December 2023 high of $0.00001195.
The analyst also pointed out that SHIB has been able to stay above its major support level at $0.000008000, which is important because if it fell below it, it could drop to levels as low as $0.00000661.
Therefore, remaining above this support level would give SHIB the necessary momentum to break out.
KangaMoon may outperform the crypto market in 2024
KangaMoon has been gaining traction and may outperform other coins in 2024.
The platform is different from meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) because it combines socialFi and play-to-earn (P2E) elements into a single platform.
Its native coin, KANG, will be in the KangaMoon ecosystem.
KangaMoon is working on creating a community for people who like meme coins, and they can earn more tokens by participating in challenges and events.
KANG holders can earn more tokens before the game launch. In the current presale, KANG is changing hands for $0.005.
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