Cryptocurrency Price Prediction

Maker DAO Price Prediction – Will The MKR Price Surpass $6000 In 2022?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 16, 2022

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Decentralized technologies are getting prioritized as they enhance privacy as well as the security of the users. MakerDAO is one of the prominent projects that concentrated on the promotion of decentralized exchanges and stable coins.

Maker had showcased a splendid price rally by surging with a huge margin, in the recent past. Also attracting many to influx huge liquidity. Marketers from the business have been aspiring for one such run. Are you one amongst the many, who are keen on MKR? Fret not, as we got you covered with our price prediction of MKR for 2022 and the years to come!

Overview

CryptocurrencyMaker
TokenMKR
Price$ 1,413.0000
Market cap$ 1,272,033,961.0000
Circulating Supply 901,310.9473
Trading Volume $ 85,087,939.0000
All time high$ 6,292.3100 May 3, 2021
All time low$ 168.3600 Mar 16, 2020

Maker (MKR) Price Prediction 2022

Potential LowAverage PricePotential High
$4,311$5,757$6,495

The MKR Price experienced weakness in price action with a start to the new year. However, as bears continued to haunt the rally owing to January 4th crash, MKR price bottomed out to a five-month low of $2,050. The downtrend further aggravated, as the price hit the $1,973 mark, by the 10th of January. While it did pose a leg-up to $2,263, by the 17th of January. It slumped down to $1,605, by the 22nd of January. 

On the 28th of January, the price had reignited a run. This time the price escalated to $2,359, by the 4th of February. MKR price fell for another dump amidst the geopolitical tensions between Russia and Ukraine. The downtrend took the price to $1,528 by the 24th of February. After hovering closer to its support levels, the trade for the quarter was closed at $2,224

Maker’s (MKR) Price Prediction For Q2 

  MKR price would need to escalate from its current levels at $1,890.03, and establish firm grounds at $2,282. To validate a push towards its potential high of $2,959. While a balance in buying and selling pressures could land the price at $2,427. The bears outrunning the bulls could bring the price down to $2,127

MKR Forecast For Q3 

The digital asset seeking impetus from the volumes and its strengths such as decentralized governance. And flourishing ecosystem could push the price to its resistance at $3,272. An ascend from where could call for the maximum target at $4,437

On the flip side, the lack of volumes and interest amongst traders could drag the price down to $3206. Factoring in the bullish and bearish targets, the regular price could settle at $3,728.

MKR Prediction For Q4

 Developmental initiatives and community building initiatives could turn fruitful for the altcoin. This coupled with optimism of the final quarter, could help create a new ATH at $6,495. That said, a lack of developmental initiatives and optimism could strike the price down to $4,311. A linear price projection without any external factors could land the price at $5,757.

Maker’s Price Forecast For 2023

If the government issues any guidelines then Maker price would experience heavy price fluctuations. If it manages to catch up to the rapid phase in the upcoming bull cycle then MKR price can hit $10,211. The average and minimum possibilities are $8,263 and $6,072.

Price Prediction For The Next 5 Years

Maker price, however, is expected to keep the bullish momentum intact and rise accordingly. The price may end up trading close to $15,507 in the coming five years. However, a bearish divergence can also not be ignored and if dropped. The price may trend with the levels around $9,603.

YearPotential LowPotential High
2023$6,072$8,263
Next 5 Years$9,603$15,507

What Does the Market Say? 

Wallet Investor:

 According to the Wallet Investor’s forecast, MKR price could hit a potential high of $2578.67, by the end of 2022. The forecast predicts the minimum and average targets for the year at $1260.72 and $1916.05 respectively. Wallet Investor has also made predictions for the long term. It expects MKR to claim a maximum price of $5702.110 by the end of 2025.

Gov.Capital:

Gov. capital has revised its prediction for the  MKR price. It now expects the price to soar as high as $2962.99  by 2022. The analysts from the firm expect the digital asset to claim a minimum of $2190.03, and an average price of $2576.51. That said, the maximum targets for 2023 and 2025 are set at $6015.34 and $14,778.28 respectively.

Digital Coin Price:

As per, Digital Coin Price, MKR is anticipated to hit its potential high of $2690.41, by the end of 2022. The firm has pinned the minimum and maximum targets for the year at $2332.31 and $2537.12 respectively. Digital Coin Price expects MKR to soar as high as $3,044.52, by the end of 2023.

Trading Beasts:

Trading Beasts foresees a sluggish price projection of MKR. It expects the altcoin to close its trade for 2022, with a maximum of $2,181.55. The analysts from Trading Beasts expect the minimum and average levels to fall to $1483.45 and $1745.24 respectively.

To read our price forecast of Cosmos (ATOM) click here!

What is Maker?

Maker is an Ethereum based DAO (Decentralised Autonomous Organization) token that aims to generate another Ethereum token. It intends to transact on exchanges at a cost of US$1.00. The platform has its own native token MKR acts as a governance token of the Maker protocol. The token offers a kind of voting share for the company that manages DAI.

The Maker platform is one of the initial projects in the Decentralized finance space. The ecosystem has its own native token MKR that could be utilized for the payment of a related 1% interest rate. Further, the utility token is also utilized for the payment of fees.

Fundamental Analysis

Maker is the governance token of MakerDAO protocol. Which is the organization behind the technology of providing collateral loans against its own stable coin DAI. Users can lend funds using their own ETH by locking them in MakerDAO’s smart contracts.

Therefore, the user just uses their ETH to convert it into DAI to get collateral loans and pay interest. It was MakerDAO that created a core layer of decentralized finance, which became very popular as ‘Defi’.

The native token of MakerDAO DAI is mainly used as collateral which is in turn backed by the USD. And hence, this feature attracts many in the Defi space. Created by Rune Christensen in 2015, MKR acts as a kind of vote sharing for the organization that manages DAI.

Our Maker (MKR) Price Prediction

New upgrades and collaborations would bring Maker closer to the spotlight. If the platform updates itself to boost transactions per second. Then the ecosystem has a great chance to claim new milestones. 

As per Coinpedia’s formulated MKR price prediction the asset is poised to hit new highs.  Hence following certain fluctuations MKR might trade at $6,500 by the end of 2022. On the downside, the network failing to stand tall to its expectations could result in a potential low of $4,300.

Historical Market Sentiments

2017

MKR initiated its journey at the price of $24.36 in January 2017. Which swelled dramatically, with the bitcoin bubble of December 2017 and reached $917 to close the yearly trade.

2018

The token also registered its yearly highs of $1,773.92 on Jan 18, 2018. Later on, the token started to plunge and reached $1278 by the end of January. Following the bearish trend, the price hit $483 by early April. At the end of 2018 MKR was traded at $472.

2019

During the year 2019, MKR started the trade at $464. Surprisingly the price surged to $788 by early April as MKR gained the attention of the investors. With certain fluctuations, the price dropped to $435 by the start of September. Later on, the price poured to $652 in mid-November. By the end of 2019, the price reached $441.

2020

On a bearish note, MKR initiated the year 2020 with $418 by early January. As bears held the market, the price surprisingly dropped to $203 by the mid of March. MKR managed to trade at $294 at the end of March. Later on, the price surged to $667 in June. 

The price spiked to $788 by mid-August but further declined to $432 by the end of September. Amidst the expansion of Bitcoin’s price rally, the price steadily started to move upwards to reach $566 by November end.  At the end of 2020, the price was seen trading at $566.

2021

MKR started the year with its price trading at $598 on the first day of January. Further, the price rose like a giant touching high every new day. Keeping the bullish momentum intact, the price eventually surged above $6000 in May. The token plunged back heavily to $1,974 on June 25th, due to the Chinese market crash. Regaining the momentum the price again soared to $3,805 on August 20th, 2021. 

With market turmoil coming out of the Chinese market again. The coin experienced a pullback to $2,282 in the 1st week of October. As the bulls failed to gain impetus against the bears. With a generation of consecutive lower lows, the asset plummeted to the bottom of $2400.

Click here to read our detailed price prediction of VeChain (VET)!

FAQ

Q: What is MKR? Is it the same as MakerDAO or DAI?

A: MKR is the governance token for the decentralized platform MakerDAO. DAI is yet another product of the platform in the form of a stable coin.

Q: Is MKR a good investment?

A: Based on the historic data available, it can be predicted that it is a profitable investment for the long term.

Q: What is Maker Token used for? 

A: Maker (MKR) protocol has the primary aim to support the stability of MakerDAO’s DAI protocol. And facilitate governance for the DAI credit system.

Q: How high can MKR price surge by the end of 2022?

A: The digital asset could possibly surge as high as $6,495, by the end of 2022.

Q: Where can I buy MKR?   

A: MKR is available for trades across prominent cryptocurrency exchange platforms such as Kraken, Coinbase, and Zebpay, amongst others.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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