- Maker (MKR) is up by 70% in the past 24 hours and 20% in the last seven days.
- MKR price is over $1.7k with a 24-hour trading volume of more than $332M.
- Investors should exercise caution before investing.
Maker (MKR) is posting incredible gains in the past 24 hours and the last seven days, according to estimates from CoinGecko.
MKR price is over $1,700 with a 24-hour trading volume of more than $332 million, at the time of writing. While showing erratic and fluctuating price movements, MKR still showed bullish trends in the past week, recording more than a 20% upswing. The token has a circulating supply of 900,000 and a total supply of 978,000.
As a relatively new token (booming in 2021), some crypto analysts still find it hard to grasp the potential of MKR (not much price history to base decisions on). However, MKR is still able to maintain some value since its ATH of over $6,000 about a year ago.
Analysts who are optimistic about the MKR price believe that the token might outperform rivals, such as Aave (AAVE) and Compound (COMP), in price.
“A long-term increase is expected; the price prediction for 2027 is $4049.37,” Wallet Investor said in a price forecast. “With a 5-year investment, the revenue is expected to be around +98.75%.”
On the other hand, Trading Beasts predicts that the Maker price will only hit $2,216 by the end of 2022, and $2,807 in 2023.
Crypto writer David Covx also believes that the token can reach $2,890 this year through new partnerships with various entities and backing from the community.
Regardless of all these, traders and investors should continue with due diligence to avoid extreme losses. It is important to do extensive research or consult with a qualified professional before making financial decisions.
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