MATIC whales have unleashed a remarkable buying spree, securing over 120 million MATIC tokens in just one week, translating to an impressive $90 million investment, according to analyst Ali. This move follows a period of notable performance for Polygon (MATIC) between mid-October and early November, during which its value surged, only to retrace and dip from $0.92 to as low as $0.72.
Despite the pullback, MATIC has shown resilience and currently stands at $0.769379. The 24-hour trading volume has soared to $469 million, an 18% increase. Over the last 24 hours, the token has experienced a 1.70% uptick, and a 0.63% increase is noted in the weekly chart.
Impressively, MATIC boasts a 20% gain in the monthly chart. Presently ranked at #14 on CoinMarketCap, Polygon holds a market cap of $7 billion, with a circulating supply of 9,275,284,920 MATIC coins and a max supply capped at 10,000,000,000 MATIC coins.
Polygon (MATIC) Price Prediction
Analyzing the MATIC price movement, it appears to be teasing a double-bottom reversal as the recent pullback transitions into a sideways shift. Speculation is mounting regarding a potential bullish comeback, aligning with MATIC’s optimistic price prediction that suggests a bullish outlook for the remainder of 2023.
Cryptocurrency experts have weighed in on the MATIC price forecast for December 2023, projecting a minimum trading cost of $0.7845. Meanwhile, the maximum is anticipated to reach $0.8530 during the month, with an average value of around $0.8146. The coin’s Return on Investment (ROI) stands at 12.8%.
Beyond the price action and market dynamics, Polygon’s network and the MATIC ecosystem have experienced substantial growth. Over the past three years, the number of active addresses on the network has surged from approximately 120,000 to a staggering 385 million.
Notably, the Polygon blockchain has witnessed an astronomical 320,733% increase in its total unique address count from November 23, 2020, to the same date in 2023. Nevertheless, the broader Polygon community is eagerly watching how this buying spree will influence the token’s trajectory in the coming weeks and months.
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