Key takeaways
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Metacade reached an all-time high of $0.045 earlier this month but is now down by nearly 50% from that point.
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The broader crypto market is undergoing a correction, and this could present a good buying opportunity for investors.
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MCADE will be listing on more crypto exchanges before the end of the year.
Metacade’s price has done well since going public last month. It surged to a high of $0.045 earlier this month after it was listed on the BitMart, Uniswap, and MEXC cryptocurrency exchanges.
However, it has lost nearly 40% of its value since then as the broader cryptocurrency market began its bearish move. With the MCADE price now low and the broader crypto market currently underperforming, is this a good opportunity for investors to invest in the project?
Does Metacade offer a great investment opportunity?
One of the best times to invest in financial assets is during a market correction. By investing during a bear market or a correction, investors set themselves up nicely to make excellent returns.
The broader cryptocurrency market has been underperforming since the start of the month. Bitcoin has lost more than 10% of its value over the past seven days and is struggling to maintain its price above $26k.
The poor performance of Bitcoin and other major cryptocurrencies has affected the prices of other cryptocurrencies, including Metacade.
MCADE rose to an all-time high of $0.045 earlier this month after it was listed on the MEXC cryptocurrency exchange. However, since then, MCADE has lost nearly 50% of its value as the market undergoes a correction.
At press time, the price of MCADE stands at $0.02225. The decline in the prices of cryptocurrencies, including Metacade, could serve as an excellent opportunity for investors to enter the market.
Those who didn’t invest in Metacade during its pre-sale could take up this opportunity, as the token is now trading close to its presale price. Furthermore, existing investors could take advantage of the current market conditions to purchase more MCADE tokens.
What is Metacade?
To determine if Metacade could be a good project to buy, investors need to know what Metacade is about.
Metacade is a web3 project that is powered by the Ethereum blockchain. The project seeks to improve the existing play-to-earn (P2E) ecosystem by making it possible for users to enjoy new web3 experiences.
The Metacade development team is working to have a project that empowers users to play, connect, build, and earn seamlessly. The project also plans to transition into a decentralised autonomous organisation (DAO) by 2024, granting token holders control over the ecosystem.
After raising $16 million in its presale stage, the Metacade development team is already working to launch some of its products.
Since it went public last month, MCADE, the native token of the ecosystem, has already been listed on the Uniswap, BitMart, and MEXC crypto exchanges. This means that the MCADE token is available to millions of investors globally.
The team also plans to list the token on several other leading cryptocurrency exchanges before the end of the year.
Will Metacade reach $0.1 by the end of 2023?
MCADE reached its all-time high price of $0.045 earlier this month. However, it has dipped by roughly 50% since then as the broader crypto market is undergoing a correction.
The events of the past few weeks have shown that MCADE’s performance is affected by the fundamentals of the broader cryptocurrency market.
For MCADE to reach $0.1 by the end of the year, the development team will need to roll out some of their products.
In addition to that, the fundamentals of the broader cryptocurrency market will have to be bullish, as that could allow MCADE to rally to the $0.1 psychological level by the end of the year.
Finally, the Metacade team might also need to make MCADE available on other leading cryptocurrency exchanges. By listing MCADE on other top crypto exchanges, the token could be available to more people, and this could push its price higher in the medium term.
Is Metacade worth buying now?
As an investor, one of the best times to invest in assets is when they are undergoing a correction. The broader crypto market is undergoing a correction at the moment, and this could be a good time to load on your investment.
After rallying to the $0.045 all-time high, MCADE is now trading close to the presale price of $0.02, and this could present an excellent buying opportunity for investors.
MCADE will launch on more cryptocurrency exchanges before the end of the year, making it available to millions of investors globally.
Furthermore, the launch of Metacade products over the next few months could increase the platform’s utility and, ultimately, the value of the MCADE token.
The post Metacade drops to $0.02225: Is this the right time to buy more MCADE tokens? appeared first on CoinJournal.
