Meta Ruffy price prediction: Can MR make a recovery?
Meta Ruffy claims to be a ‘rug-proof’ deflationary BEP20 token, which runs on the Binance Smart Chain
- What is Meta Ruffy (MR)?
- Meta Ruffy whitepaper
- Who founded Meta Ruffy?
- MR coin performance: Will the surge continue?
- Meta Ruffy price prediction: What’s in store for Metaverse crypto?
Meta Ruffy is a metaverse-based gaming crypto which launched earlier in 2022. The token rocketed into its all-time high within days, hitting $0.0006614 on 16 February. However, the price fell rapidly. Despite an attempt to climb back up in early March and mid-April, the bearish sentiment dominated.
Meta Ruffy has, however, performed well recently. According to CoinGecko, MR gained almost 20% in a recent 24-hour trading window leading up to 21 July, but remains about 90% down from its all-time high.
The MetaRuffy website states: “Ruffy is an open world in the Metaverse based on the latest technology which merges together, Web3.0, blockchain, virtual reality and augmented reality. We have made it our business to dominate the entertainment area in the Metaverse: That means we are building an open world ‘RUFFY World’ with different subject areas”. The purported subject areas are spas, resorts and gaming venues.
Despite performing well recently, is the uptrend here to stay? What are the latest Meta Ruffy price predictions?
Before looking at forecasts, let’s take a closer look at what the project is hoping to achieve.
What is Meta Ruffy (MR)?
MR is the native utility token of the Meta Ruffy platform. Users can purchase digital assets from their decentralised application (DApp) with the help of the MR token. The website lists the features of Ruffy World and the different kinds of entertainment on offer. In the spa resort’s relaxing zones, users can hang out on the virtual beach, do yoga or use the spa. The protocol says it will hire real yoga trainers to teach different exercises.
Users can buy land in the metaverse, and dating is also an option in the Ruffy world. The project is “building a cute little island called Ruffy’s love island where singles can meet, exchange ideas and get to know each other”.
Meta Ruffy whitepaper
In the Meta Ruffy whitepaper, the project outlines the aims and principles of the project, albeit very briefly.
According to the paper: “With Meta Ruffy you enter a world, where the creation of entertainment is the essence within the metaverse. We built various entertaining components into the Ruffy World, namely entertainment clubs, resorts, social-gaming, dating, an NFT marketplace, with many further developments that will enable an open world of co-creation for any participant within our Ruffy World.”
The documentation outlines the function of the MR utility token. It has a number of functions, including as a staking token, and as a utility token to be used within the ecosystem. The project offers a decentralised swap directly on the website.
Meta Ruffy applies a total buy tax of 10%, with 5% being distributed as rewards in USDT, 2% reserved for buy and burn and 3% going towards development.
A total 14% sell tax is applied, with 6% distributed as rewards, 2% going to buy and burn, 3% going to development and 3% to marketing.
Who founded Meta Ruffy?
Cihan Sasmaz is the CEO and founder of the project. His LinkedIn profile unfortunately bears little to no information on his past experience or education. According to this bio he has been “an entrepreneur for over 10 years”, and has “got to know a wide variety of segments and areas” adding that he is “a company builder”. His focus is supposedly in the IT and web sectors, and his LinkedIn bio indicates he is based in Dubai, in the UAE.
How does this information impact Meta Ruffy price prediction for 2022?
Before looking at forecasts, let’s do an overview of the token’s performance so far.
MR coin performance: Will the surge continue?
The token, according to CoinMarketCap, surged to record highs immediately after launch, rising from a lowest ever value of $0.00003294 on 8 February to a record high of $0.0006614 on 16 February.
Despite nosediving to $0.0001552 by 24 February, the token rose again soon after, hitting $0.0002927 on 3 March. By 7 March, the token had dropped to $0.0001831; however it made a partial recovery subsequently, spiking to $0.0003071 by 10 March. In mid-March, the project was awarded the most innovative company 2022 at the Dubai crypto expo.
However, bearish sentiment dragged it down for the remainder of March and into April, with the token bottoming out at $0.0001175 by 12 April. By 16 April, the token reached $0.0003562; however, it slipped down to $0.0002201 the following day.
Bearish sentiment prevailed as the crypto winter loomed large over the markets. By 1 June, the token was trading at lows of $0.00003959, and closed the month of June at $0.00009302.
Earlier in July, the Meta Ruffy team launched LooBr.com, a “cross-chain social-network NFT-marketplace”, with an NFT presale commencing on 15 July. As of 21 July, the token is trading at $0.00006654.
With a total supply of 100 billion MR tokens, and a self-reported circulating supply of 74.34 billion MR, the token has a current market cap of almost $7m.
While the token has no doubt performed well recently, can it stay buoyed up after the hype is over? Can MR deliver on what appears to be a fairly outlandish offering? And, most importantly, will users come in droves to sample the virtual spa and online dating?
Let’s take a look at MR price predictions.
Meta Ruffy price prediction: What’s in store for Metaverse crypto?
Price forecasts are undoubtedly an important part of the investment process. They can help guide investors as to what tokens could go up and which ones could go down. However, it is critical to keep in mind that price predictions, especially long-term ones, can be highly inaccurate. This is due to the inherent volatility of the market alongside the many unknown variables, both crypto-related as well as to do with macro events, which could impact the future price of the coin.
With this in mind, let’s look at some MR coin price predictions.
Gov.capital provides a bearish MR crypto price prediction, suggesting the token will be worth nothing by the end of August 2022.
CoinCodex states: “According to our Meta Ruffy forecast, the price of Meta Ruffy will decrease by -5.14% over the next month and reach $ 0.000064 by August 20, 2022.” The website also highlights the possibility of a short-term downtrend and states: “It’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy Meta Ruffy or not.”
PricePrediction thinks the Meta Ruffy price prediction for 2022 suggests a higher value of $0.00008902 in August, and $0.00010214 in December. The average Meta Ruffy price prediction for 2025 stands at $0.00028433. The site makes a MetaRuffy price prediction for 2030 which suggests a value of $0.002, rising to $0.003 in 2031.
WalletInvestor, in another bearish forecast, thinks the token could go down to $0.00000179 in a year’s time.
The project has a maximum supply of 100 billion MR tokens, and a self-reported circulating supply of 74.34 billion MR.
Potentially, though it is very early days. The token has performed well so far, but it remains to be seen whether it can remain buoyed once the hype is over. There is plenty of competition in the metaverse sector and the crypto has a long way to go before becoming a major player.
It is important to always keep in mind that crypto coins are highly volatile assets and that analysts’ forecasts can frequently be wrong.
Potentially. Forecasters largely predict the token will go up. Always remember that crypto is highly volatile, and gains are generally followed by losses. Never invest any money you cannot afford to lose.
Investing is a highly personal endeavour and very dependent on your individual investment goals. Remember to do research and keep up-to-date on any developments in the Meta Ruffy ecoystem.