Maker

Million

Goku

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Volume-to-market cap ratio indicates moderate liquidity, with 92.35% of MKR in circulation.&nbsp;</a></li>
 <li><span>2</span> <a>With a $2.325 Billion market cap and $112.133 Million 24-hour trading volume, MKR was ranked 39th Coinmarketcap.&nbsp;</a></li>
 <li><span>3</span> <a>On-chain metrics show high concentration by large holders and a majority of holders making profits in MAker (MKR).&nbsp;</a></li>
</ul>
<p><strong>Fueled </strong>by nearly 18% in the last 72 hours, Maker (MKR) highlighted strong bullish momentum. Ranked 39th on Coinamarketcap, this crypto has a $2.325 Billion market cap and $112.133 Million 24-hour trading volume. The volume has witnessed a 34.41% surge, and the market cap surged 6.71%.</p>
<p>The Volume-to-market cap ratio <strong>signifies </strong>moderate liquidity, and its 92.35% circulation is out in the market from the total supply of 977,666 MKR.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="548" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-1024x548.png" alt="MKR" class="wp-image-209808" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-1024x548.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-1536x823.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-750x402.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326-1140x610.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-326.png 1563w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Maker (MKR) 1.D. | Source: TradingView</p>
<p><strong>MKR </strong>is above the long-term 200-day EMA and approaches the 50-day EMA to cut from below and propel upwards. Meanwhile, the RSI flashed at 53.10, which has taken a jump from 14-SMA, and MACD shows a growing histogram at 28.17, with a bullish cross. Overall, the technical indicators are pointing towards the anticipation of a massive move coming in the future sessions.</p>
<h2 class="wp-block-heading" id="strong-what-do-on-chain-metrics-show-strong"><strong>What Do On-Chain Metrics Show?</strong></h2>
<p>The Maker (MKR) crypto has an 82% concentration by large holders, and 76% of holders are making money at the current price. Meanwhile, the holding composition of Maker (MKR) shows that 81% of holders have been holding for more than a year.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="159" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-1024x159.png" alt="MKR" class="wp-image-209807" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-1024x159.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-300x47.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-768x120.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-750x117.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325-1140x178.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-325.png 1477w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">On-chain metrics | Source: Intotheblock</p>
<p>Moreover, the 7-day total <strong>exchange </strong>outflows are $54.94 Million, and the total exchange inflow is $59.80 Million. A number of big transactions, each with an amount value greater than $100,000, in the last 7 days was $50683 Million.</p>
<h3 class="wp-block-heading" id="strong-what-does-maker-mkr-price-signify-on-the-daily-chart-strong"><strong>What Does Maker (MKR) Price Signify On the Daily Chart?</strong></h3>
<p>A trader, <strong>Goku </strong>Sen, posted an optimistic tweet, noting that MKR could go towards $5000, which would make nearly 2x gains from the current price level.</p>
<center>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">I only see this going to 5k.<br><br>Twapooor.<a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MKR</a> <a href="https://t.co/jEc11tppz8" rel="noopener noreferrer nofollow">pic.twitter.com/jEc11tppz8</a></p>— Goku sen (@NB1763) <a href="https://twitter.com/NB1763/status/1806054995931865555?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
<p>As per the <a href="https://www.thecoinrepublic.com/2023/08/13/maker-mkr-price-prediction-mkr-price-roadmap-to-1500/" target="_blank" rel="noopener noreferrer nofollow">Maker (MKR) price</a> structure on the daily chart, the price rose more than 200% from December 20th, 2023, to March 31st, 2024, from $1200 to $4087, respectively.</p>
<p>However, the trend was violated as the bears’ dominance increased, pushing MKR into a falling wedge. After falling, the range narrowed and dropped to form a support at $2098 by June 24th, 2024.</p>
<p>In the last few days, the price has been <strong>displaying </strong>optimism at higher levels, was very close to breaking out of the falling wedge.</p> 
<p><a href="https://in.tradingview.com/chart/MKRUSD/vmnnZqiD-the-price-has-been-displaying-optimism-at-higher-level/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>Therefore, if the price breaks out of the wedge, then it could recapture lost territories, with resistance from $2800 and $3100. However, if MKR fails below the $2098 mark, bears could target the $1800 and $1600 marks.</p>
<h3 class="wp-block-heading" id="strong-key-takeaways-in-maker-mkr-strong"><strong>Key Takeaways in Maker (MKR)!</strong></h3>
<p>MKR experienced an 18% increase in the last 72 hours, signaling strong bullish momentum. The volume has surged by 34.41%, while the market cap increased by 6.71%.&nbsp;</p>
<p>Technical indicators suggest a potentially massive move in future sessions, with the price approaching the 50-day EMA. The price on the daily chart has the potential to reach $5000, with resistance at $2800 and $3100 and support at $2098, $1800, and $1600.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Analyst Bullish Upto $5000, Can MKR Crypto Skyrocket Soon?

Table of Contents

Thecoinrepublic.com

Outros artigos publicados em 27 de jun. de 2024

BREAKING: First Spot Solana ETF Filing Officially Submitted In The US

Cryptocurrency Investors Face Decline in Meme Coins

Bitcoin Inflows: Will BTC DIP Below $60k Again?

BlockDAG Emerges as the Preferred Layer 1 Crypto with Potential for 30,000x Returns Amid Rising P...

MoonBag Crowned with Best Presale in 2024, Raises $2.9M+ Erasing Hedera, AAVE

Param Airdrop: Claim Your Free Crypto Airdrops Today!

Join our free newsletter for daily crypto updates!