Cardano Price Pulls Back After Trump Memecoin Rumor Debunked Amid Record-Breaking Crypto Volume

The Cardano price has pulled back by nearly 3% to $0.21996 as market concerns over a potential Trump-linked memecoin launch were quickly debunked.

The pullback follows a sharp rally that broke above the 0.5 Fibonacci level near $0.213, and while it may seem like a significant dip, last week's double-digit swings still dwarf today's correction.

Crypto trading volume hit a record-breaking $85 billion over the past 24 hours, one of the highest weekend readings in months, with some analysts suggesting this high activity could lead to a decisive move in the coming days.

The Jackson Hole Symposium and PCE inflation report are key events for Cardano price prediction later this week, particularly given that new Federal Reserve Chair Kevin Walsh will make his first appearance at the event.