LidoDAO Price Jumps 26% – Is It Too Late to Buy LDO? This Meme Coin Could Topple Shiba Inu
The LidoDAO (LDO) price continues to trade sharply up since the start of the week as bets for Ethereum ecosystem growth flood in on expectations that the SEC is on the verge of approving spot Ethereum ETFs, with some asking if it is too late to buy LDO.
BlackRock seals the deal for me
They’ve only lost ONCE when trying to get an ETF approved
The Ethereum spot ETF is coming!! pic.twitter.com/rM0AfmaXc3
— borovik (@3orovik) May 22, 2024
LDO is the native crypto of the decentralized Ether staking platform Lido. It also doubles up as the governance token of the Lido decentralized autonomous organization (DAO) that governs the Lido protocol.
The LidoDAO price was last changing hands just above its 50DMA at $2.075. That’s a 26% jump in the past 7 days, as per CoinMarketCap.
LDO is now roughly 37% up versus its earlier monthly lows around $1.50. While investors jumping in now won’t be buying the market at its local bottom, that doesn’t mean it’s too late to buy LidoDAO.
LDO remains nearly 50% down versus its January highs above $4.0. But if the Ethereum ecosystem is about to see massive ETF-driven growth, as one of its leading protocols, LDO could go a lot higher from here.
If ETH hits $5,000 by June, which decentralized options markets on DeFi derivatives market Lyra suggests has a 20% chance of happening, then LDO could quickly 2x back to yearly highs.
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