The LidoDAO (LDO) price continues to trade sharply up since the start of the week as bets for Ethereum ecosystem growth flood in on expectations that the SEC is on the verge of approving spot Ethereum ETFs, with some asking if it is too late to buy LDO.
BlackRock seals the deal for me
They’ve only lost ONCE when trying to get an ETF approved
The Ethereum spot ETF is coming!! pic.twitter.com/rM0AfmaXc3
— borovik (@3orovik) May 22, 2024
LDO is the native crypto of the decentralized Ether staking platform Lido. It also doubles up as the governance token of the Lido decentralized autonomous organization (DAO) that governs the Lido protocol.
The LidoDAO price was last changing hands just above its 50DMA at $2.075. That’s a 26% jump in the past 7 days, as per CoinMarketCap.
LDO is now roughly 37% up versus its earlier monthly lows around $1.50. While investors jumping in now won’t be buying the market at its local bottom, that doesn’t mean it’s too late to buy LidoDAO.
Is It Too Late to Buy LidoDAO? Here’s Why It Isn’t
LDO remains nearly 50% down versus its January highs above $4.0. But if the Ethereum ecosystem is about to see massive ETF-driven growth, as one of its leading protocols, LDO could go a lot higher from here.
If ETH hits $5,000 by June, which decentralized options markets on DeFi derivatives market Lyra suggests has a 20% chance of happening, then LDO could quickly 2x back to yearly highs.
JUST IN #Ethereum traders on DeFi platform Lyra are betting big, with call options at the ambitious $5K strike. There’s a 20% chance that ETH hits this high by June’s end. #Crypto #DeFi #OptionsTrading
— THΞ FΞNNΞC (@FennecSpirit) May 22, 2024
But LDO’s modest market cap of $1.8 billion suggests gains of more than 2x could come this bull market.
LDO could see gains of at least 5x to become a $10 billion market cap crypto. In that sense, it definitely isn’t too late to buy LidoDAO.
Crypto Alternative to Consider – Meme Coin Wiener AI (WAI)
While 5x gain potential is more than enough for most investors, some highly risk-tolerant individuals will be targeting a bigger upside.
These investors should check out the market for up-and-coming meme coins.
Most newly launched meme coins fall flat, or don’t retain long-term value.
But if backed by a savvy marketing team that knows how to build a community, a new meme coin could easily 100x.
Analysts at Cryptonews think Wiener AI (WAI) is one such coin.
The meme coin market is over-saturated with Shiba Inu-themed coins boasting little to no real utility.
Sausage dog-themed Wiener AI offers a new spin to the meme coin space.
The meme coin also comes with in-built AI trading capabilities, differentiating it from other utility-lacking coins like Shiba Inu.
REASONS 1-10:
AI TRADING BOT. WIENER DOGS.
That is all.
— WienerAI (@WienerDogAI) May 21, 2024
It’s no surprise to see that Wiener AI has already raked in over $2.6 million in its presale.
WAI is also a passive income gem. Presale Investors are currently earning a massive 381% APY, as per the project’s official website.
How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq
— WienerAI (@WienerDogAI) May 9, 2024
At this rate, investors can double their initial presale investment in just a few months. 20% of the supply has been allocated to staking rewards.
Potential WAI investors need to move quickly. The WAI price will rise when the presale hits $2.7 million.
At the current price of $0.000709, WAI’s market cap is under $50 million.
If it achieves market leadership, early investors stand to benefit greatly, with a potential for 100x gains or more.
The post LidoDAO Price Jumps 26% – Is It Too Late to Buy LDO? This Meme Coin Could Topple Shiba Inu appeared first on Cryptonews.