Cardano founder reacts to ADA price stagnation at $0.45

The ADA price stagnated around $0.45, sparking reactions from community members, with Cardano founder Charles Hoskinson also joining the discussion.
For context, the price of Cardano has been trading around $0.45 since May 29. Despite dropping below $0.45 on a few occasions, ADA was able to return to the 45 cents level after a few hours of trading but failed to confidently surpass it.
ADA stagnates at $0.45
For this reason, some Cardano community members describe ADA as a “stablecoin.” Interestingly, other community members labeled it with an X, sharing memes that explain the current situation with the price of ADA.
Cardano stake pool operator Stake with Pride shared a meme in which the ADA logo is depicted as the Grim Reaper pounding on different doors labeled “45 cents.”
This depiction shows that the Grim Reaper representing Cardano has successfully destroyed the $0.45 mark twice. However, the Death still faces the same challenge of overcoming the $0.45 resistance.
Cardano founder responds
The founder of Cardano noticed this wave of humor. Responding, Hoskinson shared his version of a meme showing the Grim Reaper watching in disbelief as it tried and failed multiple times to destroy the $0.45 mark.
Although Hokinson’s reaction was tinged with a hint of humor, it reflects the frustration among Cardano community members over ADA’s recent price action.
However, Hoskison’s reaction surprised many, as the Cardano founder rarely comments on the price of ADA. Instead, he focused on the development aspect of Cardano, a major move that could boost the widespread adoption of ADA.
ADA is still trading around $0.45
At press time, ADA is still trading around $0.45, with the price per token being precisely $0.4534. At this price, Cardano is up 0.37% on the daily chart and down 0.82% over the past seven days.
It is worth mentioning that ADA witnessed long periods of price stagnation in 2019 and 2021. In 2019, the price of ADA hovered at $0.04, and the asset has seen similar price stagnation in 2021, hovering around $1.
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