LidoDAO Price Jumps 26% – Is It Too Late to Buy LDO? This Meme Coin

Joel Frank

Last updated:

May 22, 2024 14:57 EDT

| 2 min read

LidoDAO Price Jumps 26% – Is It Too Late to Buy LDO? This Meme Coin Could Topple Shiba Inu / Source: Cryptonews

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.

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.

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...

https://cryptonews.com/news/lidodao-price-jumps-26-is-it-too-late-to-buy-ldo-this-meme-coin-could-topple-shiba-inu.htm

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