The price of Cardano’s ADA token remains over 90% below its late-2021 all-time high of nearly $3.10, currently trading around $0.29. This significant drop has fueled debate among investors, with content creator Jake Gagain calling it one of his worst investments and criticizing the project’s execution, while other community members defend its technological progress and long-term potential. Recent whale accumulation of nearly 820 million coins and a 9% weekly price surge have brought renewed attention to the asset.
Investor frustration is simmering over Cardano‘s ADA token, which has fallen approximately 90% from its all-time high near $3.10 in late 2021. Popular content creator Jake Gagain recently described ADA as one of his worst investments, expressing disappointment that the team wasted “such a great opportunity.”
His post on X sparked a debate, with one user agreeing the community is dedicated but the execution and speed have just been painful to watch for years now. Other users pledged to shift their capital solely to Bitcoin, distancing themselves from ADA and altcoins.
Conversely, X user Michael Lesser defended the project, stating Gagain doesn’t understand bear markets. “The growth in Cardano’s technology has been amazing, and the best is yet to come,” Lesser argued.
Some optimistic investors signaled they would continue accumulating ADA, with one flashing the ‘diamond hands’ emoji to indicate they would not sell. Other users criticized Gagain for promoting meme coins like NEIRO, which has seen its market cap fall from over $1 billion to under $30 million.
ADA’s price has rallied 9% weekly, benefiting from the broader market resurgence. Large investors have accumulated almost 820 million ADA coins over the past six months, now holding nearly 70% of the circulating supply.
Analyst Nehal observed that breaking and holding above $0.30 could lead to a price move toward $0.32 and $0.34. This whale activity reduces available supply, which can impact price if demand persists.
