Metahero (HERO) price prediction: Can it halt the slide?
HERO, the coin of blockchain-based metaverse project Metahero has seen its price continue its relentless decline thorugh April continue with another 6% trimmed off today (25 April) down to $0.0312.
This means it has lost nearly 70% of its value since the end of March. That March peak came as part of a small receovery but in reality the price trend has been bearish since early Decenmber when it hit $0.25. It has now lost 88% of that value.
What is Metahero? Why is its coin's price dropping? What is a plausible target price for the near future?
In this article we explore the metaverse and Metahero's role in it. We will look at the latest developments, forecasts and projections to deliver a HERO coin price prediction to help you assess if Hero should be part of your portfolio.
What is Metahero?
Metahero uses three-dimensional (3D) scanning and modelling techniques to generate ultra-high-definition (UHD) avatars and virtual items that can be used in games, virtual reality and social media, and in online fashion.
The company says its core mission is to offer futuristic virtual opportunities where people can recreate real-world assets and then move them into the metaverse.
Metahero’s versatile target demographic includes gamers, artists, celebrities and influencers, marketing professionals, professional athletes and online fashion platforms. It effectively enables anyone in the physical world to be able to scan a real-world asset – including themselves – to create a UHD avatar within just a few minutes.
To do this a user needs the Metahero app, have the appropriate amount of HERO tokens in order to pay for the scan online and access to one of its UHD meta-scanning chambers. These have been developed through a partnership with Wolf Digital World, the exclusive contractor and technology supplier for Metahero.
This technology, which consists of numerous configuration options and data-collection sensors, has already been used by the likes of Ferrari and CD Projekt.
What is the Metahero coin?
HERO, which is built on the Binance Smart Chain (BSC), is a deflationary token that can be used for transactions within the Metahero ecosystem, as well as to pay for 3D scans and royalties.
Users can stake their HERO tokens in order to earn passive rewards. Meanwhile, the buyback and burn programme is initiated only when total liquidity on PancakeSwap exceeds $10m (€8.8m, £7.4m).
The main functions of HERO are as follows:
smart staking – where 0–2% of every transaction is proportionally distributed among all holders as a passive reward;
a burn process – where 0–2% of every transaction is permanently burned;
auto-liquidity – where 0–6% of every transaction is automatically added to liquidity on PancakeSwap; and
buyback and burn – where HERO tokens are burned, and then the Binance coin (BNB) is used to buy back and burn even more HERO.
Users are also able to buy, sell and transfer HERO with no fees.
HERO price analysis: Technical view
The HERO coin was launched in July last year and its chart reached an all-time high of $0.252 on 3 December 2021 when it managed to move above the key resistance level of $0.1720. The price then retreated to $0.1882 on 6 December 2021, dropping to a low of $0.142 on 14 December.
Prior to this, the Metahero coin price had rallied to $0.234 on 29 November 2021 from $0.127 on 26 November. This 84% increase coincided with two positive catalysts: exponential growth in Metahero’s social media engagement, as reported on 29 November, as well as the company trending at number one on CoinGecko’s search box that same day.
In addition, HERO was listed on cryptocurrency exchange KuCoin on 29 October 2021, leading the coin to jump from a low of $0.091 on 26 October to $0.121 on the day of the listing.
HERO was (as of 25 April 2022) trading at around $0.03. At $159m, it ranks 286nd in the list of cryptocurrencies by market capitalisation, according to CoinMarketCap.
Technical analysis provided by CoinCodex showed that short-term sentiment on HERO was bearish, with four indicators displaying bullish signals compared to 22 bearish signals. Its short term Metahero coin price prediction suggested its price could still be at $0.032 on 30 April.
The 50+ daily simple moving averages (SMAs) and exponential moving averages (EMAs) were all giving sell signals, according to data from TradingView, while the relative strength index (RSI) was at 26.64 on 25 April. An RSI reading of 30 or below indicates an oversold or undervalued condition.
Cutting-edge technology and UHD 3D avatars
Metahero’s UHD meta-scanning chamber provides users with the option to scan themselves or their real-world assets, and then generate a realistic 3D rendering of these scans in the metaverse.
Yet one of the project’s most distinguishing factors is that users can also license their avatars to be used in games or other applications through the company’s upcoming 3D non-fungible token (NFT) marketplace, which was originally set for launch in the fourth quarter of 2021, is now due in the first quarter of 2022. This component would allow users to monetise their avatars or earn extra revenue through the creation of NFTs.
Earlier in 2021 year, the company launched its Metahero app, which allows users to track and manage their wallet activity and investments through real-time data and analytics.
In its white paper, the company also states that it is expecting to partner with Visa at an unspecified date in order to enable HERO holders to utilise their tokens for their daily expenses.
Metahero’s mega features
A crucial feature of the Metahero ecosystem is the UHD meta-scanning chamber that consists of 16 mobile columns equipped with a server unit of four cameras, all snapping pictures at full synchronisation.
Also, 12 meta-scanning chambers will be initially distributed throughout highly urbanised locations across the world – meanwhile, the first chamber has already been installed in Doha, Qatar.
In other Metahero crypto news, the company stated that it is currently working on upgrading existing meta-scanning chambers with new features that will include 16,000 UHD-resolution, foldable and mobile designs to enable easy transportation, shipping and set-up, as well as integrated photogrammetry head-scanning and facial mimicry.
This year, it was also announced that Metahero’s exclusive contractor and technology supplier, Wolf Digital World, has partnered with one of the world’s largest manufacturers of electronic products – Sony in order to co-develop an advanced photogrammetric scanner, which could provide a further boost to the project.
A risk for the project lies in the fact that 3D meta-scanning chambers are a new phenomenon. Even though photo-realistic avatars have been popularised by Bill Gates’s recent blog post where the business magnate stated he expects office meetings to go from 2D camera-image grids to 3D avatars within the next two or three years, Metahero is still operating within a nascent industry.
“There is a high demand for this niche within the cryptocurrency and gaming sectors. In addition, the popularisation of the metaverse has no doubt contributed to the project’s success,” Lian told capital.com.
“However, I believe that Metahero ought to market themselves more globally, perhaps seeking partnerships in Asia or other emerging markets,” he concluded.
Metahero crypto price prediction: Buy, sell or hold?
In terms of a Hero crypto coin price prediction algorithm-based forecasting service Wallet Investor gave a "very good" rating for a short term investment. Based on historical data, Wallet Investor sees the price rising to $0.041 by this time next year rising to $0.074 in April 2027.
In its Hero price prediction Digital Coin Price supported a bullish Metahero coin outlook, expecting the token to grow to $0.041 in 2022, to $0.06 in 2025 and then hit $0.14 in 2030.
Note that these HERO price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.
FAQs
Is the Metahero coin a good investment?
Whether HERO is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk assets. You should do your own research and evaluate the level of risk you are prepared to accept before investing. Never invest money you cannot afford to lose.
How high can the Metahero coin go?
While the Metahero coin recorded its all-time high of $0.2518 on 3 December 2021, expectations that a Metahero prediction it will be trending higher in the future depends very much on the token achieving broader adoption.
Will the Metahero coin hit $0.5 in 2028?
Based on Metahero price predictions from Wallet Investor the HERO price was not predicted to reach $0.1 within five years. DigitalCoin predicted the price to hit $0.14 in 2030.
Note that HERO predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.
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