🚀 Crypto $8 Cardano Price Target In View As ADA Rockets Back Into Top 10 With 16% Surge

[Undefeated_Lamba]

In a notable development, Cardano’s ADA has reentered the top 10 cryptocurrencies by market capitalization, propelled by a substantial double-digit rally on Nov. 8 as the broader crypto market gathered momentum following Donald Trump’s win in the U.S. 2024 presidential election.

ADA Price Soars Alongside Bitcoin, Ether​

After weeks of price consolidation, Cardano’s latest surge has allowed it to retake its position among the top 10 crypto club. ADA jumped above $0.44 on Friday to reach levels not seen since late July. The token has added 13.2% over the last 24 hours, outshining the rest of the market and up by 24.5% in the last week.

Cardano has among the top 10 cryptos for a while, but it was knocked out earlier this year, giving way to Telegram-linked Toncoin (TON) and then Justin Sun’s TRON (TRX). But, ADA’s latest price move has pushed it back into the limelight.

Cardano’s price growth catalyst includes a marketwide upsurge, with Bitcoin, the largest crypto by market cap, setting a record high near $77,000, buoyed by Donald Trump’s triumph in the U.S. presidential race. Trump’s victory is considered bullish for the crypto market following his vow to foster a crypto-friendly business environment.

Similarly, the total crypto market capitalization has risen by 0.8% over the last 24 hours and 9% over the last four days to hover at $2.7 trillion as of publication time.

ADA To $8?​

ADA’s bullish price action on Friday positions the token for further massive gains.

One crypto pundit by the name of Javon Marks believes ADA is on the verge of a parabolic surge. He tips $2.7709 as an initial breakout target for ADA, representing a roughly 531% climb from current price levels.

In addition, the analyst says ADA could appreciate 1,700% to $7.77 based on historical patterns.

In other words, the current ADA price of 44 cents could act as a launch pad for the layer-1’s continued ascent.