Kadena is making it big in value by the day, thanks to the recent cryptocurrency bull run. Lately, the coin has been doing well, sitting at$22.32 in value. In the last 24hrs, the value has risen by 60%, reaching $27. Kadena’s market cap is currently at $930 million.
Kadena is a hidden treasure that only a few know about. In the past ten months, the coin has risen by 11256% in profit. The investors who took in the crypto early are celebrating massive profits.
Kadena’s Price Analysis
It’s incredible how the coin flipped in value within 20 days in September from $0.8155 to $2.26 when it began. Again from October 10th, the coin recorded $15 in value, only 15 days later to reach the $27 level. This is a hyper-amazing bull run for the crypto, leaving the question lingering in the investor’s mind; is Kadena a good investment in 2021?
According to experts and analysts, Kadena is pretty challenging to make a prediction pending its quick rise from the bottom to where it is right now. This is because it’s hard to understand what really caused the coin to rise this fast compared to the major currencies.
Some analysts predict the coin to drop back $10 and then rise again. Other analysts see the crypto rising to $50 by the first quarter of 2022 and consolidating at this point for a while. However, this too is a prediction that Kadena can see within another two or three months.
Furthermore, the coin shows no signs of coming down, and with the bull run expectations on all crypto, especially the significant cryptos, Kadena might be flying to the moon. However, some think that the coin is a bubble. Towards the end of 2021, the coin is expected to hit the $33 level creating a new all-time high.
READ ALSO: How to Buy Kadena (KDA) On Trust Wallet
Is Kadena A good recommendation For Investment?
Yes, it is a good investment; however, only for the long-term investors. If you are a long-term investor, Kadena will make you a good profit. However, based on the analysis above, it is pretty clear that Kadena is not a good short-term investment.
One of the reasons coming out is the high volatility levels. The coin looks unstable too. Currently, if you need to lock profits on a short-term basis from Kadena, you will have to do your due diligence and affirm that you are ready to put your money into that coin.
You can take a position for a short-term trader now that the coin is in its correction stages. Currently, the value of the crypto is $20.22. You can hold for a short period before the end of the year, and you will make some profit from it.
One of the main predictions shows that the coin will be reaching $80 by the end of 2022. This is a massive profit that can take you to another level.