Cardano (ADA) is trading around $0.165 after large holders accumulated over 30 million ADA in the past week. The buying spree pushed combined large-wallet holdings to 5.69 billion ADA and briefly lifted Cardano past Stellar to reclaim the 15th spot by market cap.
Whale Activity Picks Up
Wallets holding between 100,000 and 100 million ADA now control a combined 25.6 billion ADA — the highest balance in roughly three and a half years. That figure climbed by 5.69 billion over the past seven days alone, signaling that big-money players are betting on a near-term move.
Price Levels in Focus
ADA is testing support near $0.165. If that level holds, the next resistance sits at $0.172. A break below support could send the token back to $0.148, a level not seen since late 2023. Traders are watching whether the whale accumulation can translate into upward momentum.
Hoskinson's Outlook
Charles Hoskinson, the founder of Cardano, reiterated his belief that ADA could return to the top 10 cryptocurrencies by market cap before the end of the year. The token currently sits at No. 15, having briefly overtaken Stellar. Hoskinson's comment comes as the network continues to roll out upgrades aimed at improving scalability and smart contract functionality.
MaxiDoge Presale Gains Traction
Separately, a new ERC-20 meme token called MaxiDoge ($MAXI) has raised $4.8 million in its presale at a price of $0.000283. The project is unrelated to Cardano but has drawn attention from speculative traders looking for high-risk, high-reward plays in the current market.
For now, all eyes are on whether ADA can hold the $0.165 support line. A decisive move above $0.172 would signal that the whale accumulation is more than just a defensive play.
