Metacade price has pulled back hard: is now the time to buy?

Metacade has been in a downtrend over the past two weeks but it looks like the catalysts that could eventually fuel a recovery in the price of its native token are plenty.

Here’s what you should know about Metacade

Metacade is an innovative GameFi community that’s integrated several means of making money, including working on gigs, competing in games, and creating on the platform.

The hub is open to gamers, developers, and blockchain enthusiasts from all over the world. The project that aims to eventually turn into the largest community-governed arcade, as per the White Paper on its website, has also launched a bunch of DeFi services such as staking.

The futuristic vision has already established Metacade as an up-and-coming metaverse platform as evidenced by its investor base of more than 9,000.  

Other prominent crypto gaming platforms that launched before it include Axie Infinity, Sandbox, Gala, Apecoin, and Decentraland. In a way, therefore, Metacade has the opportunity to learn from their mistakes and go beyond what its predecessors had to offer.

What factors could drive $MCADE price up?

Earlier this month, $MCADE listed on the MEXC Exchange – the world’s 15^th largest in terms of trading volume as Invezz reported here.

While the price action following the said listing has so far not been charming per se, a string of other coins previously, including Pepe and Floki, skyrocketed after listing on major exchanges. It is, therefore, conceivable that the same will materialise for Metacade moving forward.

Its CEO Russell Bennett expects the MEXC listing to push the number of investors to over 10,000. The Chief Executive is scheduled for an AMA session on May 17^th at 4 p.m. BST.  

Last month, Metacade partnered with MetaStudio to develop exciting mobile games and expand its community. It’s considering upgrading its platform to include NFT art that, as per experts, could serve to meaningfully increase $MCADE demand as well.  

From an investment perspective, what also matters is that its native ERC-20 token is secure and trustworthy. On DEX Tools, it secured the perfect 99 out of 99 score.

Interestingly, there are technical indicators that currently suggest investors should buy Metacade today. These include the Commodity Channel Index (CCI) and the Momentum indicator.

Metacade price prediction for 2023

All in all, experts forecast the $MCADE to be trading in the range of 10 cents to 15 cents in the back half of 2024 as it has one of the most promising futures in blockchain gaming that’s expected to grow from $4.6 billion in 2022 to about $66 billion by 2027.

Remember that price of the native token is linked also to inflation and the monetary policy. Last week, the U.S. Bureau of Labour Statistics confirmed that consumer prices eased further to 4.9% in April, suggesting the Federal Reserve is slowly albeit surely winning the battle against inflation.

Only days later, the central bank itself came out signalling that it’s now likely to “pause” after having raised interest rates consecutively in its past ten meetings.

As macro loses pace further, the risk appetite will climb and investors will continue to make more aggressive bets such as the ones on crypto – and Metacade being a crypto at its core will likely benefit.

Is $MCADE a good investment?

It is also noteworthy that the ongoing banking crisis that consumed the likes of Silicon Valley Bank and the First Republic Bank has hurt confidence in the fiat currencies and has been a blessing in disguise for cryptocurrencies as reflected in about a 65% year-to-date gain in bitcoin.

Nonetheless, investing in cryptocurrencies or gaming tokens come with its fair share of risks. The key is to build a position in them when they’re trading at a low price.

Considering that $MCADE has pulled down hard from its high of $0.045 on May 3^rd to $0.018 on Tuesday – it may just be a reasonable opportunity to buy Metacade today.

The post Metacade price has pulled back hard: is now the time to buy? appeared first on Invezz.