When is the right time to bottom out on $MKR ?
1. Project Background and Positioning: Maker (MKR) is the governance token of Maker DAO and its protocol, based on Ethereum, fully launched in 2017, aiming to operate a decentralized stablecoin DAI that is soft-pegged to the US dollar.
2. Token Functionality: MKR holders have decision-making power in the development of the Maker Protocol. Although there are no dividends, the value is expected to rise with the success of DAI.
3. Ecological Influence: As a pioneer in DeFi projects, DAI is a popular stablecoin with a market cap exceeding 800 million, and the number of active addresses exceeds that of USDT.
MKR is a project I have been closely following recently, up about 14% in the last 24 hours. At the current position, I do not recommend chasing the rise at certain high levels; it is better to wait for a pullback to find an entry point for ambushing!
As the market continues to change, we need to closely monitor market signals and seize new entry opportunities.
