Decentraland price has sustained its bullish momentum, surging by almost 40% since its renewed potential gain on Thursday.
At the moment, MANA price is below the fourteen-day highs of $3.83, trading around $3.60, aiming to surpass the $4 threshold.
After a brief consolidative period observed in the initial week of November, MANA value witnessed a resurgence in its upward movement triggered by Facebook’s rebranding to Meta at the end of last month.
MANA’s price peaked at all-time highs of $5.03 following Meta’s focus on the metaverse, which piqued investors’ interest.
Currently, MANA has been rapidly gaining, climbing over 25%. Get insights on Decentraland price outlook here, along with other details.
What Is Driving the Increase in Decentraland MANA Price?
Currently, Decentraland (MANA) has surged by over 25% to $3.69. The current market capitalization of the cryptocurrency is $6.6 billion, marking an increase of over 25% within a day.
Alongside a substantially increased market cap of $8.1 billion, the 24-hour trading volume of Decentraland (MANA) is $7.9 billion. Over 1.8 billion MANA coins are in circulation, with the total supply being around 2.1 billion coins.
Currently, MANA has been rapidly gaining ground. However, why is the price soaring? Decentraland, as the name suggests, is a decentralized virtual world built on the popular Ethereum blockchain.
It aims to facilitate metaverse projects in the realm of cryptocurrency. Decentraland enables users to trade digital land, purchase it, develop it with the help of digital assets, and then monetize it.
The decentralized nature of the platform grants users full ownership and allows them to undertake various activities on the platform.
Decentraland Favorable Projection
Keep in mind that the cryptocurrency market is highly volatile. Hence, the projections may not be accurate.
An investor will bear in mind that the cryptocurrency forecasts and anticipated figures are subject to change over time.
The ultimate decision to invest in cryptocurrency will be that of the investors. However, the predictions of Decentraland price expectations provided by various platforms are as follows:
- According to wallterinvestor.com, the price of Decentraland (MANA) is anticipated to rise to $7.861 in five years.
- As per digitalcoinprice.com, the price of Decentraland (MANA) is projected to rise to $4.63 by the end of the current year and up to $8.95 by 2025.
- As per priceprediction.net, the price of MANA is expected to soar to $83 in ten years.
- According to coinforecast.com, the price is expected to climb to $14.26 by the end of the current year.
Is Decentraland (MANA) a Smart Investment?
As the technology and its native cryptocurrency are designed to enable users to enter the digital world, Decentraland is attracting attention among metaverse-friendly digitally savvy users.
Additionally, several platforms listed above have predicted the price of MANA cryptocurrency to rise in the near future.
Thus, crypto might be a wise investment for those who wish to invest their money for a longer period.
Any retracement from higher levels could bring Friday’s low of $3.04 back into play.
MANA traders will then target the moderately bullish 21-Simple Moving Average (SMA) at $2.78 on additional weakness.
If the corrective bounce persists, MANA bears could be compelled to challenge the wedge resistance currently buttressed at $2.47.
Mana Decentraland Price Projection: Latest Market Capitalization and Volume data
- Current Market Cap: $ 6.19 B
- Change in Last 24 hours: +6.47%
- Total Volume Traded in Term of $ Value: $ 2.17 B
- Change in Last 24 Hours: -39.29%
- Current Market Cap Rank – 39th (Steady)
Mana Decentraland Price Projection: Social Media Data
Lunarcrush statistics
- Social Volume Rank: 45th (Up 2)
- Social Engagement Rank: 23rd (Up 2)
- Social Dominance Rank: 48th (Down 2)
Decentraland Price Projection 2025
According to Coinquora,, in the next four years, MANA prices could skyrocket to $50. This suggests that MANA has a high probability of reaching a new ATH soon within the next five years based on the prediction.
As per LongForecast, the coin might triple in value in the next five years. It is expected to undergo a significant bull run reaching $1.80 to $2, making it a favorable long-term investment.
According to Trading Education, Decentraland (MANA) price is poised to surpass $1 by the conclusion of 2021, $2.5 by 2022, and $4.5 by 2025.
Decentraland Price Projection 2021-2022
Decentraland price commenced in 2021 at $0.17. Currently, Decentraland is trading at $3.30, reflecting a 1830% increase since the beginning of the year.
The projected Decentraland price at the end of 2021 stands at $12.87 – with a year-to-year change of +7431%. The rise from the current day to year-end is +290%. In the first half of 2022, the Decentraland price is expected to dip to $12.35; in the latter part, the price would rise by $11.77 reaching a year-end value of $24.12, marking a +631% increase from the current price.
