Key Takeaways:
- As Metaverse attracts more and more attention, the MANA coin has experienced an exponential surge in the market.
- The MANA coin has surged above 60% in the last 7 days.
- The market sentiment regarding the coin is indicating a “bullish” trend with its Fear & Greed Index showing “Extreme Greed”.
Decentraland token (MANA), one of the prominent cryptocurrencies in the market has experienced a growth surge above 70% in the last 7 days. With this tremendous growth sprout, the coin has poised itself as one of the top-performing coins in the market. The Decentraland is a VR platform powered by the MANA token, an ERC-20 token, which serves as the native currency of the platform. In this article, we will look into the MANA coin’s sudden growth surge in the market, the factors that influenced this surge, and how the coin will fare in the coming days on the crypto market.
MANA Token Current Market Performance
Ranked #77 on the crypto market based on its market capitalization, the coin is one of the most sought-after coins in the market. The coin’s current bull run commenced on the 22nd of this month. At that time, the coin was trading at a value of $0.4065. From there, the coin grew rapidly in the market. With a price increase of $0.2962, the coin is currently trading at $0.7105 registering a daily uptrend of 3.72%.
The coin reached its peak during this bull run at $0.7656 today, 25th November. With a 24-hour trading volume of $1.36 billion, the coin’s current market value has already crossed $1.35 billion. The coin is currently trending in the market with a weekly price rise of 69.47% in the last 7 days. If the coin maintains its bull run and the trends in the market continue to favor it, we may see a further rise in the coin’s value shortly.
Factors Influencing the MANA Rush
Decentraland ($MANA) has been making huge waves in the market as a metaverse token. This marks increased interest and adoption surrounding the meta tokens. As the metaverse becomes an increasingly discussed topic in social media and other platforms, the Decentraland has managed to gain a huge amount of traction in the market. The MANA’s collaboration with major brands has also contributed to the rapid price rise.
With Web3 and blockchain rapidly gaining traction, MANA has the potential for astronomical growth in the market. If this continues, the demand for the coin the coin will likely sky-rocket in the coming days. Based on this performance, various analysts are predicting that the coin will soon surpass its all-time high. As of this moment, we can only wait and see what the future holds for the famous coin.
MANA Price Prediction Short & Long Term
Now that we looked at the coin’s growth and the factors that influenced it, let’s delve a little into its future. To make this easier for you, we have prepared a price prediction table on the coin for the days to come as well as for the long-term haul. If you’re considering investing in the coin, kindly refer to the table below.
Short-Term Price Prediction
| Date | Price | Potential ROI |
|---|---|---|
| 26 Nov, 2024 | $ 0.697774 | 3.473% |
| 27 Nov, 2024 | $ 0.759011 | 12.46% |
| 28 Nov, 2024 | $ 0.767914 | 13.86% |
| 29 Nov, 2024 | $ 0.754525 | 12.10% |
| 30 Nov, 2024 | $ 0.738863 | 9.80% |
Long-Term Price Prediction
| Year | Min Price | $ Avg Price | Max Price | Potential ROI |
|---|---|---|---|---|
| 2024 | $ 0.967774 | $ 0.127955 | $ 0.792043 | 17.66% |
| 2025 | $ 0.610391 | $ 967042 | $ 1.845454 | 174.93% |
| 2026 | $ 0.567347 | $ 0.741126 | $ 1.227834 | 82.22% |
| 2027 | $ 0.562686 | $ 0.607664 | $ 0.676504 | 0.29% |
| 2028 | $ 0.55645 | $ 0.622895 | $ 1.086696 | 60.85% |
| 2029 | $ 0.374291 | $ 1.480244 | $ 4.19 | 519.24% |
| 2030 | $ 0.241352 | $ 0.76998 | $ 2.28 | 237.06% |
While referring to the table, keep in mind that the above-given prices are susceptible to changes in market trends and may vary accordingly.
Is It a Good Time To Buy The MANA Token?
The community sentiment regarding the MANA token is indicating a “Bullish” trend. As per various expert opinions and market data, the MANA coin is expected to rise by 10.51% and reach a value of $0.77114 by the 3rd quarter of December. The coin is currently trading 19/30 days in green with a volatility rate of 21.57% based on the data from the last 30 days.
The Fear & Greed Index associated with the MANA token is currently showing 82, which is a clear indicator of “Extreme Greed”. However, you should be aware of the fact that the crypto market is one of the most volatile places out there. So, it would serve as an add-on benefit if you conduct your own research about the trends in the market before proceeding with the investment.