With the growth of different cryptocurrency projects in recent years, Mad Meerkat Finance (MMF) was one of these initiatives that showed that could offer and build new services even during a bear market.
However, the price evolution of this digital asset was not as good as investors expected. What can we expect from this virtual currency in the coming years? Is there any possibility for it to recover and start moving higher once again? Let’s see what analysts and experts have to say about MMF.
What is Mad Meerkat Finance (MMF)?
Mad Meerkat Finance (MMF) is a decentralized finance (DeFi) protocol that makes it easy for users to manage their digital assets and earn passive income from them. This protocol works as an automated market maker (AMM) and decentralized exchange (DEX) that lets investors earn rewards, stake their digital assets, exchange virtual currencies, and many other things.
Mad Meerkat Finance is one of the many DeFi projects that have been released to the market over the course of the last few years. Now, this AMM and DEX is trying to continue with its operations in a bear market, which could be a difficult task if digital assets continue to move lower.
MMF Tipping Point
Mad Meerkat Finance has also been working in order to change the way in which the tokenomics of this project works. In a recent press release, the team announced that they have implemented some changes to their tokenomics, including a hard supply cap, protocol profits distribution, and more.
The first change is related to the inflationary monetary policy. They announced that there will be no more issuance of MMF tokens. This was one of the greatest disadvantages of most decentralized finance projects in the cryptocurrency market. In order to attract and retain clients, DeFi protocols printed large and continuous tokens. However, this debased the value of their tokens over time.
This could be closely related to the price performance of this digital currency since it was released. There was a period that lasted just a few weeks and that saw the price of this digital asset move higher (from $1.45 to almost $1.80). Creating a limit to the total supply of MMF tokens could generate a good situation for this digital asset in the future.
Understanding what could happen with this virtual currency in the coming years would be very important. These changes that could be applied in the future to this crypto project could be very important in order to help this project take off in the future.
The all-time low registered by this virtual currency took place on June 14th, 2022, when the cryptocurrency market tanked as Bitcoin (BTC) dropped below $18,000. Despite the fact that the coin recovered, it might be difficult for it to continue growing in the future without a clear change in the market trend.
As you can see in the image above, trading volumes have decreased over the course of the months and the market is now considering that this coin might not offer a strong price increase in the future. Everything will depend on how the total supply cap affects this digital asset and whether demand for it grows in the coming months.
Mad Meerkat Finance (MMF) Price Prediction – How much can MMF price increase in 2022?
Let’s now have a look at what can happen with Mad Meerkat Finance (MMF) in 2022. The first thing that we should take into consideration, as we mentioned in the previous section, is related to the supply cap that the team wants to impose on this coin.
If a supply cap is established, then we should see whether the demand for this virtual currency starts growing in the coming years. This could be closely related to many things, including the expansion of new services, the promotion of the current solutions that this DeFi protocol offers, and the reliability of the team in charge of this project.
Even with all this information that we have, it would be quite difficult to make a price prediction for Mad Meerkat Finance (MMF). The cryptocurrency market is quite volatile. That means that MMF could surge in just a few days if demand for it suddenly grows or it could fall even further and disappear, as in many Initial Coin Offerings (ICO) tokens in the past.
Especially in the DeFi market, several projects launched their inflationary tokens with the goal of incentivizing everyone to stake their funds and provide liquidity to different markets. However, this created a situation in which there was an overissuance of coins that inflated token prices over time.
Nowadays, the cryptocurrency market has seen some of the largest DeFi tokens fall and lose value. Therefore, some smaller projects such as Mad Meerkat Finance could be affected even more. We believe that MMF could keep being traded below $0.25 throughout 2022 unless there is a strong change in the direction of this project.
What can you do with MMF Token? What is the token utility of MMF?
MMF token has many different use cases. As this is a cryptocurrency that is used in the Mad Meerkat Finance protocol, the coin can be used to stake and earn rewards, pay fees, and trade other virtual currencies.
Additionally, the coin is used for the governance protocol. This governance protocol requires users to vote for different initiatives and changes that could have an impact on this digital currency in the long term.
Hence, we can say that MMF is a utility token that can also be considered a governance coin for the coming years. If the project adds new functionalities, the coin (MMF) could also play a more important role in the whole ecosystem.
What would be a decent MMF Price prediction for 2022?
When it comes to understanding what could be a decent MMF price prediction for 2022, we should see what happened in recent months and how the coin behaved during the current bear market.
The coin seems to have found a bottom at $0.03 and it has stabilized between $0.04 and $0.07. Despite the fact that it could move higher in the future, we should take into consideration that there are some resistance levels that MMF would have to break if it wants to move forward.
These price levels include $0.11 and $0.20. Therefore, if we believe that MMF will start a new bull market, we could see the digital currency hitting $0.25. Support levels could be $0.11 and $0.20 throughout the way higher.
Now, if the coin moves lower, $0.03 could be a key level to watch. The coin could fall even lower and fall below $0.01. This is highly possible if Bitcoin continues to move lower (for example, if it goes under $15,000).
Can MMF Price reach $5?
Realistically, in the near future, MMF is far from reaching $5 per coin. There is not enough volume to sustain this price or a move higher. However, we are talking about the cryptocurrency industry, everything could happen in the future, which means that in a short period of time, there could be a rush to this coin as it happened in the past with other virtual currencies.
Based on the estimations, here are the following price predictions for MMF:
MMF price prediction for 2022: $0.01 – $0.11
MMF price prediction for 2023: $0.001 – $0.25
MMF price prediction for 2024: $0.001 – $0.80
MMF price prediction for 2024: $0.001 – $1+
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