$MKR Major news has emerged, can it reach new heights again?
In the ever-changing cryptocurrency market, #MKR has successfully attracted the attention of retail investors and institutions with a major announcement.
Yesterday, the MKR official announced news of a brand overhaul and token swap, leading to a strong market reaction as a large amount of speculative funds quickly poured in. Looking back at the history of the cryptocurrency market, previous token swaps or brand upgrades have often triggered a wave of speculative frenzy.
Take the example of EOS swapping to A, which saw speculation increase by nearly double at the bottom. By analogy, this time MKR is likely to be continuously speculated upon before its launch.
In addition to this short-term positive factor, from a long-term perspective, the MKR project team has been consistently active, always adhering to buybacks and token burn. As an established mainstream altcoin, MKR's profitability is quite impressive, with annual revenues exceeding 100 million dollars.
Its stablecoin revenue, staking rewards, and buyback deflationary model have successfully created a virtuous internal cycle, continuously solidifying the value foundation of MKR.
From a technical analysis perspective, the MKR daily chart has just shown a surge in volume, indicating strong bullish momentum. Currently, the coin price has pulled back to a certain support level, and the hourly chart has also shown significant signs of stabilization.
All signs suggest that now may be a good entry point, and one might consider gradually positioning. Based on market trends and potential speculative space, MKR's target could be aimed at above 3000.
