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Will Maker [MKR] dip to $1345? The ongoing decline suggests…
Maker [MKR], the altcoin, has been experiencing a significant price drop over the past 24 hours, with its value plummeting by 10%. As of press time, MKR was trading at $1,473.92, according to CoinMarketCap.
While this downturn may be disheartening for some investors, it’s essential to consider the bigger picture and potential factors that could impact the asset’s future trajectory. According to recent data, large transactions in MKR have increased by over 10% within the past day, indicating a rise in trading activity among big players.
Furthermore, on-chain metrics show a growing accumulation phase. A notable whale wallet, “0xB4eA,” recently purchased 3,334 MKR for approximately $4.89 million from decentralized exchanges (DEX) and Binance. Additionally, a newly created wallet, “0x1d1d,” withdrew 900 MKR ($1.33M) from Binance, suggesting the possibility of accumulation for the coin.
It’s also worth noting that network growth has started to show signs of recovery, with IntoTheBlock reporting a relative gain in this metric at 1.29%.
Source: https://ambcrypto.com/will-maker-mkr-dip-to-1345-the-ongoing-decline-suggests
