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The Lido DAO project appeared in the cryptocurrency ratings in January 2021 and immediately gained popularity among crypto traders. And this is not surprising, because its birth coincided with the beginning of the bull season of 2021. LDO started at a price of $ 1.75 and rushed upward. A month later, the coin cost $ 3, in March, LDO was trading above $ 5, and in August it set its maximum at $ 7.30. This coin never reached such a high price again.
The next 3 years were dominated by bears. And although at times the LDO coin rose in price to $ 5, it also rapidly fell to $ 0.40. Such swings continued all this time until the arrival of the bull season. Perhaps it was a great time for traders, because the coin was mega volatile. But it is very difficult to guess its movement. Those investors who were able to do this were able to make good money.
What has the new bull season brought for the LDO coin
The first wave of the bull rally raised the price of LDO from $1.60 to $3.80 in January 2024. Then a long correction began, as a result of which the price of LDO fell to $1 per coin. It seems that LDO decided to sleep through the second wave of the 2024 bull season. Today, November 17, LDO is trading around $1.20. This is a very strange result.
Perhaps the rise in price is still ahead, but it is also quite possible that investors have turned away from LDO and it will only get cheaper.
Our forecast is that when Bitcoin reaches $100,000, the LDO coin, at best, will trade no higher than $2. A very risky investment at the moment. We do not recommend buying.