Decentraland price shows impressive bullish potential, continues uptrend
- Decentraland price has posted over 14% gains in the past 24 hours.
- The metaverse ecosystem launched a snowball fight earlier today, boosting the on-chain activity in its native token MANA.
- Analysts are bullish on Decentraland price, predict continuation of rally in this metaverse token.
Decentraland popularity is on the rise as institutional capital flows into the metaverse. Decentraland price has continued its uptrend through the past two weeks.
Analysts have bullish outlook on Decentraland, predict another all-time high
Decentraland has launched its snowball fight to lure users to the metaverse experience. There is a spike in on-chain activity in the token over the past two weeks. Decentraland tweeted about the greatest snowball fight of the metaverse earlier today.
The game is on! We’ve officially begun the greatest snowball fight of the metaverse. Just remember, don’t eat the yellow snow.
— Decentraland (@decentraland) December 23, 2021
Spread some joy and chuck some snowballs here.https://t.co/hpnXEejgpQ
Tip: Collect snow from empty parcels
Keep an eye in the sky for falling presents! pic.twitter.com/IUKJeM4PXK
Institutions and large wallet investors continue acquiring digital real estate in the Decentraland metaverse.
The metaverse token recently upgraded the experience and introduced a day/night sky with features for powering experiences. The state of the sky is predictable, and creators can tailor metaverse experiences with reference to the day/night cycle.
Analysts believe that the metaverse hype has just started, and MANA price could continue its uptrend, on track for the next all-time high. @Hayess5178, a pseudonymous cryptocurrency analyst, believes that the MANA uptrend is likely to be preserved.
Crazy to think just how early we actually are in the #Metaverse hype. IMO it's only just starting.$MANA https://t.co/PvSNJbYTwz pic.twitter.com/rWoavVAhSq
— Simon Hayes (@Hayess5178) December 19, 2021
Decentraland has emerged as a top price gainer in the Polygon ecosystem. The analyst has set a target of $6.50 for Decentraland in the current bull run if the metaverse token sustains price above resistance at $3.17.
FXStreet analysts have evaluated MANA price trend and predicted that profit-taking by investors is likely to continue. This trend is expected to remain the same, and MANA price could dive to $2.75.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
