Elon Musk to Back Cardano? Hoskinson Hints at US Crypto Adoption Plans

The market seems to be buying the rumour, with the prospect of an Elon Musk Cardano endorsement fuelling ADA’s recent uptrend—pushing the price 2.85% higher today.

This follows what has been a stagnant past two weeks for the front-running altcoin, navigating heightened volatility.

However, momentum may be waning as trading volume holds steady at around 670 million today.

Hoskinson Says Cardano Will Be Ready for Elon Musk

These rumors stem from a recent Livestream Hoskinson posted on X, discussing blockchain adoption within the U.S. government.

Treasury Questions https://t.co/zoWgtcPsiq

— Charles Hoskinson (@IOHK_Charles) February 20, 2025

He championed Elon Musk’s Department of Government Efficiency (DOGE) as a catalyst for change and added, “Would Cardano be in that conversation? I would believe so.”

This comes amid reports suggesting the DOGE department might be exploring blockchain solutions to streamline federal operations.

However, Hoskinson acknowledged the complexity of U.S. government procurement, noting that proposal requests could take years to navigate the bureaucracy.

He concluded, “Whenever that process comes, we’ll be there.”

Speaking on the near term, Hoskinson called for a rewrite of the crypto narrative, moving beyond four years of SEC scrutiny toward an environment fertile for industry growth.

Cardano Price Analysis: Could Cardano Break Out Soon?

This long-term vision aligns with Cardano’s current technical setup, which suggests continued consolidation in the near term.

The ADA price is trading within a bullish flag pattern that has been forming since early November, yet technical indicators show little breakout potential.

The Relative Strength Index (RSI) sits at a neutral but bearish-leaning 46, signaling weak buying pressure.

Meanwhile, the MACD line continues its downtrend below the signal line, underscoring bearish control over price action.

Without a catalyst like a direct Elon Musk endorsement, this sideways trend is likely to persist.

When a breakout does occur, the flag pattern projects an ADA target around $1.50—marking a potential 90% gain from current levels.

This New ICO Offers Stronger Potential Gains

While the Cardano price stands to see further tailwinds in 2025, as Hoskinson said, potential adoption hinges on changes that may take months or years to materialize.

In the meantime, presales have become a popular strategy for traders looking to hedge against market stagnation.

One standout is MIND of Pepe ($MIND)—a self-improving AI built to deliver exceptional value to its holders.

MIND of Pepe will actively engage with the crypto community through its X account—driving conversations, uncovering alpha opportunities, and delivering exclusive, token-gated insights.

Inside its Telegram community, holders get early access to high-potential tokens before they hit the market, keeping them ahead of the curve.

At the time of writing, MIND has raised over $6.6 million in its ongoing presale, capitalizing on one of this cycle’s strongest meme coin narratives: AI agents.

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