Manchester City Fan Token Price Prediction: An open goal for CITY?
15:36, 13 October 2022
The buzz around Manchester City football club after it qualified for the UEFA Champions League appears to have translated into hype surrounding its CITY fan token as well.
CITY was trending on CoinMarketCap. But its price is still struggling, with the token down 15% over the past month, as of 13 October.
What is CITY?
Socios, a subsidiary of Mediarex Group, a global sports and entertainment organisation founded in 2006 by the Frenchman Alexandre Dreyfus, pioneered the concept of fan tokens, cryptocurrencies dedicated to specific sports teams. Holders of these tokens gain access to rewards and can sometimes vote on club activities and plans.
In recent years, a number of leading soccer clubs have taken the leap to create their own fan tokens using the Socios platform, which is built on the Chiliz chain. Among them is Manchester City, which launched its own token, CITY, in summer 2021.
CITY benefits
The club’s token goes under the ticker CITY and its utility resembles most cryptocurrencies in the Socios ecosystem. Investors can influence some decisions, earn rewards and gain access to exclusive events.
For example, CITY holders have VIP access to all of the team’s matches. They also gain opportunities to meet the team and earn signed merchandise.
They can also vote on decisions, which are usually aesthetic or fan-related. Last year, CITY holders voted on the “moment of the season”. Investors can only vote once per poll, but the vote’s weight depends on the number of fan tokens a person holds.
CITY’s price history
After launching at $19.81 on 25 May 2021, CITY climbed slighty to a high of $35, before plummeting below its launch price. It dropped to the $10 mark on 22 June.
However, CITY started climbing again at the beginning August as holders had the opportunity to vote on its fan wall design.
Later in the month, Manchester City returned to their home Etihad stadium and CITY investors were given the chance to attend. CITY reached its all-time high of $36.90 on 27 August.
Like most cryptocurrencies, fan tokens were not invincible to wider-market swings. CITY’s value fell after this high and into 2022.
CITY did see a slight rally in March as Socios ran a competition to earn VIP tickets to the match against Liverpool. The fan token climbed to a high of $18.44 on 2 April 2022.
???? @ManCity vs Liverpool ????
— Socios.com (@socios) March 24, 2022
???? One point separates the sides with 9 matches to go.
???? Win VIP tickets to Etihad Stadium & watch the battle unfold.
???? Enter: https://t.co/TZszKmYTnU
???? More info: https://t.co/YsxwuAaAx1$CITY ⚡️ $CHZ pic.twitter.com/L6q4v7FVZY
CITY eventually continued falling and stooped to its all-time low of $3.55 on 12 May.
At the time of writing, the fan token is currently trending on CoinMarketCap after the football club qualified for the UEFA Champions League.
As of 13 October, CITY was trading at $5.48. It was down 15% over the previous seven days.
Manchester City fan token price prediction
As of 13 October, forecasters were divided on their CITY price predictions. CoinCodex said there was a bearish sentiment with the fear and greed index displaying “extreme fear”. An overwhelming 25 technical indicators displayed “sell” signals and only three were bullish.
Its Manchester City fan token price prediction for 2022 suggested the token would have fallen by 17% to $4.52 on 12 November.
DigitalCoinPrice predicted a steady climb and for City to have averaged at $5.51 this year. Its Manchester City fan token for 2025 predicted the token would hit $14.40 and reach $30.38 in 2030.
Similarly, PricePrediction said CITY could have achieved $6.56 this year and $19.74 in 2025. Its Manchester City fan token price prediction for 2030 gave an optimistic value of $143.57.
Gov Capital put in a bearish Manchester City fan token crypto price prediction. It suggested the token would have become worthless by the end of November. However, the site expected CITY to rise again and reach $5.84 in a year.
When considering a Manchester City fan token coin price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. Analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.
FAQs
Is Manchester City fan token a good investment?
CITY is a fan token on the Socios platform that gives investors influence in the Manchester City football Club. However, the token has still struggled with this year’s bear market.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the CITY token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Do not put at risk any money you cannot afford not to get back.
Will Manchester City fan token go up or down?
As of 13 October, CoinCodex said there was a bearish sentiment and the token would fall by 17% in the next month. On the other side, DigitalCoinPrice anticipated steady growth.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the manchester city fan token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never stake money you could not afford to lose.
Should I invest in Manchester City fan token?
Whether you should invest in CITY is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose, because prices will go down as well as up.
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