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Maker (MKR), the governance token for MakerDAO and Maker Protocol, posted notable gains today. Its price moves garnered the attention of several investors, resulting in a significant surge in trading volume witnessed today.
MKR’s daily chart indicates a consistent upward price movement since June 11. Also, CoinMarketCap data shows the trading volume saw a 32% increase in the last 24 hours.
Maker ($MKR) Price Action
As of 11:57 EST—on July 27, MKR saw a price increase of over 2%, reaching $1,174. Over the past seven days, the price of MKR has risen by 17%, with over 72% 30-day growth in value.
On July 13, the price of MKR experienced a 15% increase, driven by the excitement surrounding Ripple’s partial lawsuit victory against the SEC. However, the excitement was short-lived, as MKR dropped slightly from its monthly high of $1,266 to $1,143.
Also, Maker has retraced from today’s bullish momentum, dropping from a day high of $1.269 to $1,143. Despite this retracement, the price action today reflects an overall bullish momentum.
Technical Analysis of Maker Coin
MKR is bullish and could maintain this positive momentum in the coming days. The asset’s price currently trades above the middle Bollinger Bands indicator, signaling a bullish trend.
The Relative Strength Index (RSI) is currently at 69.24 and moving towards the overbought zone, indicating a high buying pressure on the asset.
The MACD rose above the signal line after a brief retracement, suggesting a positive momentum shift and supporting a continuous bullish rally. Maker may continue its rally, reaching new highs in the coming days if the bulls persist.
Key Price Levels
According to the chart, MKR/USDT trades between its support and resistance levels at $828 and $1299.
With high pressure from the bulls, the token has left its support zone and fights to conquer the $1,299 resistance. A break above this resistance could facilitate a continuous rally for MKR.
Expert’s View on Maker Price in the Coming Months
According to CoinPedia analysts, MKR’s price predictions 2023 suggest a potential drop to $794.85, with an average price of $1,163.23 and a maximum price of $1,531.61. For 2024, they forecasted a lowest price of $982.63, an average of $1,358.74, and a highest price of $1,734.86.
Bitnation’s technical experts predict that by 2026, MKR may trade around an average price of $5,138.76, surging to $5,481.34 and potentially dropping to $4,796.17. In 2027, they expect the token to have a minimum price of $5,938.12, an average of $6,280.70, and a potential gain of up to $6,623.29.
CryptoNewsZ analysts projected that by 2028, MKR could have an average market value of $3,290, with a potential drop to $3,110 and a later rise to $3,500. In 2029, they suggest the token may reach a maximum price of $4,812, a minimum of $3,815, and an average of $4,313.
Priceprediction.net anticipates that in 2023, Maker’s price may range from a minimum value of $1,213.72 to a maximum value of $1,428.29, with an average value of $1,255.81.
For 2024, the price of Maker is predicted to have a minimum value of approximately $1,815.61, with a potential maximum value of $2,136.75 and an average trading value of $1,878.40.
Factors Affecting The Price of MKR
According to a recent report, Maker’s MetaDAO achieved a significant milestone through the Spark Protocol, an end-user, DAI-centered DeFi lending and borrowing platform. Spark’s launch could drive greater adoption and utility of DAI within the MakerDAO ecosystem.
During the Spark Protocol’s launch, its successful integration with Maker’s network via Maker’s Direct Deposit Dai Module (D3M) was a noteworthy achievement.
This integration ensures seamless interaction between Spark’s lending pools and the Maker platform, allowing borrowers to access DAI at favorable rates.
However, it’s worth mentioning that any adjustments made in the Spark Protocol, particularly those introduced by Phoenix Labs, will be subject to Maker Governance’s assessment.
The Maker community will vote on whether to accept or reject these latest changes implemented to enhance the user experience. The governance vote to adjust Maker Market’s Loan-to-volume rate and debt ceiling has been ongoing since July 24 and ends today, July 27.
This governance vote must have generated enough buzz to facilitate MKR’s recent rally. The successful integration and growth of Spark Protocol within Maker’s network can positively impact the MKR token by increasing DAI adoption and utility.
As Spark Protocol facilitates more lending and borrowing activity, it could drive demand for MKR tokens for governance and participation in the MakerDAO ecosystem, potentially leading to a price increase.
In recent weeks, an anonymous and influential trader renowned for impacting markets has actively participated in the MKR market. They sold around 1,598 MKR tokens (approximately $1.8 million), resulting in a 2% price decline.
Subsequently, between early to mid-July, they withdrew 2,760 MKR tokens (valued at $2.5 million) from the well-known digital asset platform, Binance, at an average withdrawal price of approximately $918.
Could Wall Street Memes Be The Best Alternative?
Amid the bullish movement of the $MKR token, Wall Street Memes (WSM) emerges as a compelling alternative for traders.
This cryptocurrency represents anti-capitalism in the Web3 era, unites small investors against traditional Wall Street players, and has gained considerable attention.
The project’s mission is to foster financial inclusivity through a decentralized movement. It aims to empower small investors in the crypto market while challenging established financial players.
The WSM token’s popularity soared during its presale, raising over $17 million and nearing the $18 million milestone. The WSM token’s presale is open to the public, with plans for listing on crypto exchanges in 2023. Influencers’ support and a $50,000 airdrop express gratitude to the growing community.
WSW Features
The Wall Street Memes (WSM) project has gained popularity due to its distinct characteristics and objectives, including:
Anti-Capitalist Narrative: Wall Street Memes (WSM) stands out with its unique anti-capitalist narrative, driven by a mission to disrupt the prevailing influence of traditional Wall Street institutions and pave the way for a more equitable financial landscape.
The project’s primary goal is empowering small investors, giving them a voice in crypto, and championing greater financial inclusivity. Through WSM, individuals can participate meaningfully and work collectively towards a fairer and more accessible financial future.
Community-Driven: The project prides itself on actively involving its community in shaping the direction of the endeavor and participating in key decision-making processes.
By fostering a sense of ownership and participation, Wall Street Memes ensures that the ideas of its community members are heard and considered. This approach will foster a collaborative environment where everyone has a role in influencing the project’s growth and success.
Also, it cements the foundation for a resilient and united community, driving the project’s pursuit of its anti-capitalist narrative and empowering small investors in pursuing financial inclusivity.
Meme-Coin Culture: Wall Street Memes, being a meme coin, greatly emphasize humor, internet culture, and meme-driven trends.
The project skillfully engages and forges connections with its community by harnessing the potent force of memes, creating a lively and interactive atmosphere.
Through humor and relatable content, Wall Street Memes fosters a sense of camaraderie among its members, united by shared values and a collective vision for challenging traditional finance.
This innovative approach differentiates the project from conventional cryptocurrencies and facilitates a deeper level of engagement and involvement.
Wall Street Presale Activities
The Wall Street Memes presale has achieved an impressive fundraising of $18.1 million, nearing its $18 million hard cap.
This enthusiastic response from investors reflects considerable interest in the token and optimistic expectations for its future performance. At its current price of $0.0325, the $WSM token is anticipated to increase to $0.0328 in the upcoming days.
After the presale phase, $WSM is set to be listed on multiple exchanges, drawing in additional investors to participate in the thriving community. Bullish investors should hurry now and secure a slot for potential future gains as the presale ends in a few days.
How to Buy WSW?
Prospective investors are urged to utilize either MetaMask or Trust Wallet to acquire Wall Street Memes tokens ($WSM), adhering to these straightforward procedures:
- Begin by creating a cryptocurrency wallet to store the $WSM tokens.
- Then, visit the Wall Street Memes presale platform and link your wallet.
- Exchange compatible tokens such as ETH or USDT for Wall Street Memes tokens.
- Follow the on-screen instructions to validate the transaction.
Once the presale concludes, you can claim your $WSM tokens and await their listing on various exchanges with anticipation.
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