Maker Price Prediction: MKR Falls 4% – Defining DeFi's Future?

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Maker (MKR) started the year with positive momentum. With promising ecosystem strides, MKR has already exceeded most investors’ expectations in this third quarter of the year.

However, at 8:14 am EST, the asset is trading at $1,092.73, representing a 4% decrease in the last 24 hours. As Maker MKR declines with other top coins in the market, investors question its future in the industry.

Price Trends of Marker (MKR)

Over the past 14 and 7 days, Maker MKR has experienced declines of 16%, and 13%, respectively. However, its price performance in the last 30 days is cheerful, up by 10%, indicating that the token market dips are a recent development.

It is worth noting that the general crypto market is bleeding, as many coins are undergoing significant declines and trading below bullish lines. Although this could be one of the factors behind the downtrend in Maker MKR, some community members still worry about the next moves.

But even though the price is falling today, the asset’s trading volume is up by a significant 32%, showing high market activity in the buy zone. At this point, for most investors and analysts, buying the dip amidst the bleak crypto sphere is likely the best option.

Maker Daily Chart Shows Recovery – Buy The Dip

According to the chart, the MKRUSD pair is trading below the Bollinger Bands Indicator, implying that its price has deviated significantly from its recent average. This could indicate a potential oversold condition in the market, where selling pressure has driven the price lower than its perceived value.

Historically, price rebounds have often followed such instances as market participants recognized the opportunity for value accumulation.

Also, the MACD trading below the signal line points to short-term downward momentum, while the RSI of 41 further confirms a moderately bearish sentiment without reaching extreme levels.

These factors imply a possible buying opportunity, as the coin could be undervalued and due for a price correction.

However, while this condition might signal a potential buying opportunity, it’s crucial to consider other factors, such as overall market trends, fundamental analysis, and external events.

Possible Factors that Could Influence Maker MKR’s Price Trends

Aside from the general hit on the crypto market, the price of MKR has also experienced significant fluctuations due to several market sentiments. The news of SpaceX’s sale of its Bitcoin holdings is likely the most influential on the list of changes that may have influenced MKR’s price.

Since numerous coins depend on Bitcoin’s price performance, the development ignited a bearish turn in the crypto market and forced price decreases. The fluctuations were so quick that a few minutes after the news was announced on August 17, Bitcoin fell by 8%, as other altcoins followed suit.

Also, the upcoming suspension of crypto purchases on the recognized payment portal, PayPal UK, has raised concerns for crypto projects.

PayPal will 'pause' crypto purchases in UK 🇬🇧 pic.twitter.com/NPkj7F61cC
— Crypto Crib (@Crypto_Crib_) August 16, 2023

The firm temporarily paused all crypto purchases from October 1, 2023. The decision aligns with the new regulations to bolster secure and transparent practices on their portals.

While these changes affect the general outlook of the crypto space, it contributes to the fluctuations in Marker’s price trends. However, the declines are temporary, considering promising updates in their ecosystem, and a reverse direction is expected after the crypto market spurs back to life.

In the meantime, there are alternative altcoins for quick returns for interested investors.

Wall Street Memes ($WSM) Could Become the Next Meme-coin King.

Wall Street Memes has ambitions beyond being a meme coin or a leader in the stock market frenzy. Insiders reveal exciting project plans, including launching new products and more advanced staking features.

The main goal of the Wall Street Memes coin is to take advantage of the retail investor movement. This movement gained prominence during the meme stock excitement of 2021 when regular individual investors challenged big Wall Street players on their turf.

But the team at Wall Street Memes isn’t stopping there. They’re looking ahead and preparing to introduce staking. This means that people who hold these tokens can earn rewards.

The team is setting aside 30% of the total token supply specifically for benefits that the community will receive. This shows they’re thinking about the people supporting their project.

Investors have already shown strong support by contributing over $25 million in the presales, securing their part in the exciting project. The ongoing presale phase is nearing its goal of $25,928,599, and it’s likely to sell out soon.

After the 29th stage, the token’s price will increase from $0.0334 to $0.0337 for the 30th and final stage of the presale. Acting quickly and participating in this meme coin’s presale is a good idea for those looking to benefit from future price increases.

To acquire $WSM tokens, you can use the Ethereum blockchain or BNB Smart Chain and pay with ETH, BNB, or USDT (ERC-20 and BEP-20 tokens are accepted).

The process is simple for potential investors. In three steps, these investors can easily link their cryptocurrency wallets to the project’s official website to complete their purchases.

On top of the benefits from the presale, Wall Street Memes has an exciting contest going on. This gives five lucky people the opportunity to receive a substantial $50,000 worth of $WSM tokens in an airdrop.