Cardano price fell near $0.16 on June 5 as ADA extended its selloff and reached levels last seen around late 2020, while social activity and on-chain usage rose during the market stress.
Summary
- Cardano price fell near $0.16 as ADA reached levels last seen around late 2020.
- Santiment data shows Cardano social dominance and active addresses jumped during the sharp selloff.
- Ali Martinez sees $0.11 and $0.051 targets unless ADA reclaims key Bollinger levels.
Cardano price falls below $0.16
Cardano traded near $0.162 on June 5, according to crypto.news price data. ADA fell 17.9% over 24 hours and lost 30.7% over seven days, while the monthly decline reached 38.29%.
The token moved between a 24-hour low of $0.158433 and a high of $0.198698. Trading volume stood above $1.1 billion as sellers pushed the market toward the lower end of the daily range.
Cardano now holds a market rank of #16, with a market value of about $6.03 billion. Its fully diluted valuation stands near $7.31 billion, based on a maximum supply of 45 billion ADA.
The fall pushed ADA far below its 2021 all-time high of $3.09. The token has also dropped 76.26% over the past year and 67.46% over the past 200 days, showing a long-running downtrend.
Santiment shows social spike during selloff
Santiment said Cardano became one of the most discussed crypto assets after ADA dropped below $0.16. The firm linked the jump in attention to price weakness and rising concern around founder Charles Hoskinson.
According to Santiment, Cardano reached a 2026 high of about 0.52% social dominance. That means more than one in every 190 crypto-related social discussions focused on ADA during the spike.
The same update said daily active addresses rose to 28,459, the highest level in four months. This shows users continued to interact with the network as the selloff increased debate among traders.
Santiment described much of the reaction as bearish. However, the firm also said Cardano still has one of crypto’s most vocal communities, with many holders staying active through past market cycles.
Hoskinson concerns add pressure
Recent Cardano weakness also followed renewed attention on Charles Hoskinson. Santiment said discussion increased after Hoskinson said he was “taking a break” following warnings about project shutdowns and funding stress.
As crypto.news reported, Hoskinson warned more Cardano businesses could fail after TapTools announced it would shut down. TapTools had operated as a Cardano analytics platform for about four years.
The wider ecosystem has faced governance pressure as well. The Cardano Foundation canceled the 2026 Cardano Summit after a proposal seeking 7.8 million ADA failed to secure enough approval from DReps.
Moreover, crypto.news also reported debate around a separate 32.9 million ADA treasury request linked to Input Output Global research and development work. DRep opposition had climbed above 80% before the vote deadline.
These events place funding, governance, and project survival at the center of the current ADA story. Price weakness has now turned those ecosystem debates into market-moving issues.
ADA technical levels point lower
Ali Martinez said he would target $0.11 and $0.051 for ADA after the latest breakdown. He also said, “I’d be taking a break too if I were him,” while referring to the pressure around Hoskinson.
The technical setup remains weak. ADA broke below the lower Bollinger Band at $0.1845, showing strong downside pressure and an extended bearish move.
The Bollinger Band midline sits near $0.2316, while the upper band stands around $0.2786. ADA remains far below the midline, which shows buyers have not regained control.
A recovery would need ADA to reclaim the lower band near $0.1845. A stronger rebound would then need a move toward $0.2316 before traders can argue that the trend has improved.
The BBP reading stands at -0.0927, placing price below the lower Bollinger Band. That signals oversold conditions, but it does not confirm a reversal.
For now, sellers still control the chart while ADA remains outside the bands. If $0.158 support fails, traders may focus on Ali’s $0.11 target as the next downside level.
A deeper fall toward $0.051 would require another major breakdown and sustained weak demand. That level remains a lower target, not a confirmed path.
Cardano’s next move now depends on whether buyers defend the $0.15 to $0.16 zone. Bulls need ADA back above $0.1845 to ease immediate pressure. Bears need another close below the recent low to keep the breakdown active.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
