Potential value of Cardano (ADA) coin following the US Elections has the potential to double its all-time high from 2021 if it experiences a price surge of up to 1,000% after the U.S. presidential election.
The recent election results, particularly the win of pro-crypto candidate Donald Trump, have positively impacted the wider cryptocurrency market.
As early results indicated a Trump victory, Bitcoin (BTC) quickly reached a new all-time high (ATH), sparking a significant market rally that also benefited Cardano.
Cardano’s Post-Election Performance
In the days following the GOP candidate’s victory, Bitcoin climbed above $93,000, setting a new ATH.
Although Cardano started its upward trend later than some other cryptocurrencies, it has begun to catch up.
Currently, Cardano (ADA) has seen a 41.79% increase over the past week, making it one of the top gainers among the leading 20 cryptocurrencies by market capitalization.
It recently peaked at $0.6599 before experiencing a slight pullback.
At the time of writing, ADA is trading at $0.737.
If it continues its upward momentum, there is potential for it to reach its all-time high again.
Market analyst Max Maher suggested back in August that Cardano could achieve a remarkable 1,000% rally.
Potential Price Scenarios for Cardano
If Cardano continues to rally, here’s what could happen:
- 100% Increase: If ADA rises by 100%, it could reclaim the $1 mark, reaching approximately $1.2342.
- This level has not been seen since April 2022.
- 500% Increase: A 500% surge would push Cardano above its previous ATH of $3.1, potentially reaching around $3.7.
- At this price, Cardano’s market cap would rise to $129.56 billion, positioning it among the top four cryptocurrencies.
- 1,000% Increase: Following Maher’s projections, a 1,000% increase could elevate Cardano’s price to $6.78, effectively doubling its previous peak.
- Notably, analyst Ali Martinez has also predicted a rally towards the $6 mark.
Historical Context
These projections are grounded in Cardano’s past performance.
After the November 2020 U.S. elections, ADA surged by 85%, climbing from $0.0930 to $0.1720.
This momentum continued, leading to an ATH of $3.1 in September 2021—a staggering increase of 3,459%.
Following the recent elections, Cardano has already gained 89% with a couple of weeks left in November.
If it achieves even a fraction of its previous post-election rally, reaching the $6 mark is within reach.
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Also Read:Â Cardano Founder And Ripple CEO Reportedly In Talks Amidst Rallies
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