Decentraland MANA Token Flexes Muscle — Can It Break Past Its No. 29 Spot?

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The value of the popular Decentraland currency MANA has hit $3.27 today, Feb. 16, which market observers say is 10% higher than the past 24 hours.

The data is based on a detailed real-time forecast and a technical analysis. As of this writing, the market capitalization of the cryptocurrency is at USD1,349,167,774.

MANA is now the 29th most valuable cryptocurrency in terms of market value.

Decentraland is offered on 204 crypto exchanges around the world. Its native crypto has been the most popular on exchanges including Binance, CoinTiger, and Upbit in the last 24 hours.

The MANA/USD, MANA/KRW and MANA/USDT pairs have been the most successful Decentraland pairings in the last 24 hours as well.

With the market capitalization mentioned above, MANA is one of the most well-known coins in the metaverse.

MANA Geared For Mainstream Adoption

Decentraland is a vast virtual world that allows users to produce and experience a wide range of content on individual parcels of land, sell items, procure pieces of art, and much more.

MANA may expand its features in order to deliver smooth services, and the token’s social media popularity may aid in the token’s advance to a more significant level.

MANA total market cap at $6.043 billion in the daily chart | Source: TradingView.com

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MANA’s value may rise or fall depending on whether the market is bearish or bullish in the coming weeks and months. Some analysts expect its value to drop $1.8 in the coming weeks. However, they believe it will set multiple records this year.

There’s been a growing trend in Decentraland throughout the last four months. MANA’s crypto-skills and trustworthiness are seen to be in high demand, and this trend is seen to continue.

Decentraland’s trading volume is on a steady ascent, which has a big effect on its price.

MANA: Rising Price Stability  

MANA’s technical indications suggest that it is faring well in different market aspects alongside its corresponding value.

The coin has been trading above its estimated value for several months, and the moving average convergence/divergence (MACD) line on several charts is within the neutral zone.

Its RSI of 52 indicates that it is presently in the neutral zone as MANA is currently trading at approximately $3.27 per coin.

Analysts see the price of MANA rising in percentage as the midyear unfurls. According to Wallet Investor’s forecast, it is seen to trade at around $8 by the end of 2022 if bullish trends continue.

Related Reading | Shiba Inu Enters The Metaverse, But Will This Help Its Price?

Featured image from GDA Capital, chart from TradingView.com