Cardano (ADA), Uwerx (WERX), and Shiba Inu (SHIB) Tokens Prints Big Green Candles After Inflation Report

The US Bureau of Labor released its monthly inflation figures and, in its usual fashion, pushed the price of major tokens, including Cardano (ADA), Uwerx (WERX), and Shiba Inu (SHIB). But while the two prominent tokens have since lost their gains from the report, Uwerx has maintained a positive Phase 4 presale round.

We’ll be looking at how the inflation index has affected Uwerx and the other tokens. Based on expert predictions, Uwerx may triple its returns by Q1 2024.

Cardano (ADA) Price Surges, but Short-Lived 

Recent US inflation data showed a considerable improvement, with the CPI report showing a drop to 4.9% in April from 5% in March. This information impacts not only the crypto market but also the economy and the market as a whole. 

Cardano (ADA), a major blockchain platform, saw its value increase as investors sought alternatives following the announcement. The price increase was verified by the green candles on the price charts. Despite the early surge, Cardano’s price has fallen to $0.372 due to market swings, profit-taking, and slight bearish sentiment in the crypto market. 

In other developments, Cardano wants to accelerate its infrastructure development in the coming months. This may help it speed up the integration of many decentralized applications and services into its platform. It’ll be interesting to see how this development will help Cardano’s price.

Shiba Inu’s Price Surge Following US Inflation Report, but will it Maintain Its Momentum?

The popular meme-based cryptocurrency Shiba Inu reportedly followed Cardano’s lead and started making enormous green candles after the release of the US inflation report.

After the CPI data were revealed, the value of Shiba Inus rose steadily, but as the markets became unstable, they immediately plunged. There is still considerable selling pressure on the market, even though the price of a Shiba Inu token has found a solid support level at around $0.000008. 

However, this pressure could cause the coin’s price to drop significantly if it cannot maintain its position above the support line. The resistance line, otherwise dubbed the “death line,” might cause the token’s price to drop as low as $0.000007, which would be a severe setback for the token and its owners.

The bearish trendline that has been traced over the last several months appears to hold strong, and if the trend continues, the token may be further devalued.

In light of the recent inflation report, Uwerx (WERX), a novel cryptocurrency tailored for the freelance market, offers an innovative solution. Freelancing has become the preferred choice for 80% of business owners, a trend set to accelerate amidst inflation. WERX addresses this with its blockchain-based smart contract payments and 1% platform fee.

With the alpha release on May 19th, anticipation has fueled a rapid presale. Over 69 million tokens have been sold, underscoring the project’s potential. As a testament to its credibility, the token underwent audits by reputable firms, SolidProof and InterFi Network.

Unique features like the Uwerx Vault, where tokens can be stored for incentives, add further appeal. Already, the platform boasts over 5,000 coin holders.

Uwerx’s promising trajectory forecasts the token surpassing $2 by Q1 2024. Capitalize on the momentum now with a 20% presale discount. With Uwerx, you can ride the green wave in the crypto market and make your mark in the freelance economy.

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