Decentraland price prediction: Is MANA coin a good investment?
MANA’s price has skyrocketed lately, so what is the decentraland price prediction?
With NFTs the hot topic in today’s cryptoverse, coins associated with non-fungible tokens are getting a lot of attention from investors. One of the biggest NFT coins is MANA, the token associated with the Decentraland platform. Let’s take a look and see what we can find out about the decentraland price prediction.
First, though, let’s take a look at the MANA price history. While past performance is no guaranteed indicator of future results, it can help give us some context for a decentraland price prediction.
Decentraland price history: Boom times
When MANA started trading in 2017, its price was low, but not negligible. For instance, on 21 September of that year, it traded at just under $0.02 and for most of the next three years or so, it stayed between $0.01 and about $0.10. Although it reached an all-time low of $0.007883 on 13 October 2017, it soon recovered. As we have said, it spent the next few years not doing terribly much and rarely garnering much attention and it closed 2020 at $0.07825.
Even though the opening few months of 2021 were a real boom time for cryptocurrency, decentraland was comparatively slow to the party. For instance, the first week or so saw it making modest gains although it did break through the $0.10 barrier on 7 January when it closed up at $0.1277. This was, ultimately, a spur to action and it soon shot up, hitting an intra-month high of $0.2016 on 23 January. It then floated back down and closed 31 January at $0.1547, a monthly rise of more than 97%.
February was another month of encouraging growth. The middle of the month saw it spending a respectable length of time over the $0.30 mark, with a monthly high of $0.3671 on 13 February. However, this peak was followed by a slow decline and it finished the month at $0.2362. This was up by more than 52% on a monthly basis, but down more than 35% from the monthly high.
March, too, saw the growth theme carry on in a big way. A really notable day for the decentraland (MANA) price was 13 March. This went from an opening of $0.6621, already a really positive score, to an intraday high of $1.17, a rise of 76% in mere hours. Although it dropped back to close the day at $0.9692, the following day saw it reach a monthly high of $1.19. There was some fallback from that price, though, but while its close of $1.03 was down more than 13% from where it had been on 14 March, it was still up by more than 336% from a month earlier.
If March was remarkable, then April was strong and solid but, in comparison to the previous month, much less spectacular. At first, things looked as if the good times would not last, with a monthly low of $0.8399 on 7 April, but the price soon recovered and the end of the month was another record-breaking $155 on 28 and 29 April before settling down to close April at $1.49, a monthly rise of just over 44%. Good, but nothing like the March explosion.
MANA price history: Decline and rebirth
Things started to crash in May. The token’s price was already going down by the time that the Great Crypto Day Crash of 19 May took place. Before the crash, the price stood at an intraday high of $1.16 to an intraday low of $0.5051, which meant it more than halved in a matter of hours. While there was some relative recovery to close the day at $0.7803, a monthly close of $0.8507 meant it lost just under 43% of its value over the course of May.
June and July were both pretty poor months for MANA. The coin closed out June at $0.58, down nearly 32% from the end of May and, while it recovered by 24% to finish July at $0.7192, it was still down nearly 8% on a two-month basis.
August saw some more promising growth and it managed to close out the month up a little under 20% at $0.9432. September initially looked encouraging, with the price breaking through the $1 for the first time since May when it reached an intraday high of $1.06 on 3 September. Despite it hitting a monthly high of $1.08 on 5 and 6 September, things were back downhill for MANA, and it ended the month at $0.6882, down a little over 27% from August’s close.
By now, it may have looked like getting back to where it had been in the middle of May, let alone what it had achieved in March and April, was a bit of a forlorn hope for investors. But their luck was about to change in a big way. Initially, though, it seemed to be more of a modest recovery, with much of the month seeing it hover above $0.70, with some forays above $0.80. At the end of the month, however, it rocketed up. It started the day at an already encouraging $0.9259 before smashing its way to an intraday high of $1.48, a rise of just under 60%. The next day was even more astonishing, with it zooming up to hit an all time high of $4.69, up more than 200% from the previous day’s high. While this sort of super activity was to prove unsustainable, the coin’s October close of $2.89 was a monthly rise just shy of 320%.
November saw some considerable encouragement, at least when compared with the lull of June through to mid-October, with it consistently topping $3 from 13 November and hovering somewhere between $3.90 and $4 on the afternoon of 19 November. Some price decline has been seen since November, and by 6 December the coin was valued at $3.45.
MANA price prediction
Now, with that in mind, let’s take a look at the different kinds of decentraland forecasts. What we do need to mention at this stage is that predictions are very often wrong. In terms of long-term crypto predictions, many forecasts are made via an algorithm and change on a regular basis.
Firstly, WalletInvestor suggests that MANA will be worth $5.38 in a year’s time and around $12.92 in five years.
Meanwhile, PricePrediction says decentraland will reach an average price of $5.64 in 2022, $8.28 in 2023 and $11.57 in 2024. It has an average decentraland price prediction for 2025 of $16.64, $24.42 in 2026, $34.80 in 2027 and $50.07 in 2028. It says the average price of MANA in 2029 will be $76.37 and that the decentraland price prediction for 2030 is an average of $108.82.
Finally, gov.capital’s decentraland price prediction for 2021 sees it reach somewhere around $3.912, while the price should be close to $4.73 on 6 December 2022. A year from then, it should be about $5.94, while 12 months on from then, the MANA price prediction is about $7.57. On 6 December 2025, MANA should be worth about $ 9.411 and a year after that it should be about $11.60.
One thing to note, though. At present, the fortunes of the Decentraland programme and, by extension, the decentraland (MANA) price are very much tied into how the market for NFTs is doing. This means that if we do see a drop off in NFTs, or even if current Decentraland users migrate en masse to another platform, then fewer people using the system could see a significant drop in MANA’s value. That said, Decentraland was not specifically designed with NFTs in mind, so it could be that if the hypothetical situation described above does take place, the system could find another usage. Nevertheless, it is something that we have to keep in mind when considering the implications of a bullish MANA price prediction.
It might be. Decentraland has certainly performed very well over the last 12 months, rocketing in value. That said, you do need to be cautious. Cryptocurrencies can be highly volatile and prices can definitely go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
There are 1,824,600,935 billion MANA in circulation out of a total supply of 2,193,994,727 decentraland coins.
You can buy MANA at a range of crypto exchanges, including Currency.com. Just remember to do your research and keep in mind that cryptocurrencies are highly volatile and prices can go down as well as up. Never invest more than you can afford to lose.
If you want to hold MANA to use in the Decentraland platform, you will need to keep it in an Ethereum wallet to be able to make use of it.