Ethena’s Price Plummets Again – Is This the End or Just a Bad Day? 🤔

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Well, would you look at that? Ethena’s price has decided to take a nosedive, slipping down to that sweet spot of $0.30. And just like that, over $50 million worth of ENA tokens are flooding into the wild. Somewhere, a millionaire scoffs, “Guess I’ll buy more—what’s a little market chaos?” 😏

It’s been a roller coaster—climbed from a sad $0.28 low up to $0.35, only to tumble back again. Now, trading around $0.30, with a 24-hour volume of $245 million (because who needs sleep when you have crypto, right?), Ethena’s about to open a floodgate of nearly $53 million in tokens in just a week. Will the support hold? Or are we headed down the rabbit hole towards $0.25? Stay tuned, because even the market’s got a sense of humor. 🤷‍♂️

Now, here’s the twist in the tale: that same $0.30 level was the springboard for a wild rally last November, jumping over 100% to hit $0.67. So, maybe, just maybe, there’s some folks out there who still believe in Ethena—probably in their pajamas, sipping coffee, shouting, “This is just a dip, folks!” If history repeats, the support might just weather this storm and bounce back, leaving bears scratching their heads. Or, if it slips beneath that level, we could see a quick trip down to $0.25—grab your popcorn, folks! 🍿

But don’t get too gloomy. With Ethena’s upcoming Coinbase listing and a shiny new partnership with Securitize, launching Converge (whatever that means), it’s hard to imagine ENA falling just yet. Besides, that $0.25 floor only cracked once—back in September of last year, when it hit an embarrassing low of $0.19. Clearly, the market has a long memory, and so do support levels. Maybe this isn’t the end, maybe just a bad hair day for Ethena. 🚀😉

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2025-06-05 16:10