Monavale price prediction: What is Monavale (MONA)?
The DIGITALAX platform aims to create online fashion for the Web 3.0 era, but what is Monavale (MONA), its native token?
Let’s take a look and see what we can find out, and examine some of the Monavale price predictions that were being made as of 21 September 2022, too.
What is Monavale?
Monavale is a part of The Metaverse, but it is not, strictly speaking, a metaverse crypto.
Let’s explain things. If we take it that The Metaverse will or does involve people accessing an online space through the medium of avatars, and the denizens of The Metaverse will interact with each other, then it is, perhaps, understandable if they want their avatars to look smart.
The idea of non-fungible tokens (NFTs) that serve as a kind of de facto clothing for people in The Metaverse is therefore one that could, potentially, have a lot of followers. One organisation that specialises in this field is DIGITALAX.
DIGITALAX describes itself as providing “everything you need for those daring enough to summon self-sustaining, self-sovereign economies built on the composable blocks of Web 3.0 fashion, dimensional machines, decentralised fabrication, immersive storefronts and open world IRL game layers.”
In short, people can use DIGITALAX, which describes itself as a “digital-only fashion auction exchange platform and open source digital fashion toolkit”, to create and buy transferable fashion NFTs to use in various metaverse platforms.
The system was founded by Emma-Jane MacKinnon-Lee, an Australian former aerospace engineering student. However, the plan is to set up a decentralised autonomous organisation (DAO) to run it at some point in the future.
Every blockchain-based platform needs to have its own native cryptocurrency, and DIGITALAX has Monavale, also known by its ticker, MONA. This token is designed to help power DIGITALAX. Holders are able to vote on decisions on the future of the network, and can use MONA to purchase items on the platform. MONA can also be bought, sold, and traded on exchanges.
As the system’s technical documentation states: “We often describe DIGITALAX as the cityscape for Web3 Fashion, and MONA token is the core governance and value anchoring token for maintaining the ledger of activity for the decentralised goods and assets generated through the core infrastructure within this ecosystem. MONA exists for igniting primary activity within Web3 Fashion and holding and routing its value within the cityscape.”
We should point out at this stage that, since MONA is based on the Ethereum (ETH) blockchain, it is a token, rather than a coin. You might see references to such things as a Monavale coin price prediction but such terms are, technically speaking, wrong.
Monavale price history
MONA price history from launch to present – Credit: CoinMarketCapNow, let’s cast our eyes over the MONA price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some much-needed context when it comes to either interpreting a Monavale price prediction or making one of our own.
When Monavale first came onto the open market in December 2020, it was worth about $1,000. The price went through peaks and troughs but, in early 2021, the market went through a bullish phase and MONA followed suit, reaching a high of $2,843.59 on 20 March 2021, in the run-up to its listing on the Quickswap decentralised exchange (DEX) two days later.
After that, though, market conditions meant that it fell dramatically following the great crypto day crash of 19 May 2021, and MONA, along with much of the rest of the cryptocurrency market, spent the summer in the doldrums, dropping below $400 at various times in June and July.
There was a recovery later on in the year, though, as the news that the first two governance improvement proposals were revealed for MONA holders to vote on in November saw it go back past $2,000 and, on 16 November 2021 it enjoyed an all-time high of $5,980.87. After that, though, the price fell apart and it closed the year at $701.06.
While 2022 has been a poor year for the crypto market as a whole so far, MONA has been one of the few tokens to have raised their price since 1 January.
It has not all been plain sailing, as a combination of market crashes saw it plummet to a low of $121.42 on 13 June 2022. At the end of the month, though, the news that MONA would be available on the Coinbase (COIN) crypto exchange saw a flurry of activity, with it returning past $1,000 until the middle of August.
Since then, the price has been largely heading downwards and, on 21 September 2022, it was worth about $758. At that time, there were 10,414.13 MONA in circulation out of a total supply of 10,895. This gave it a market cap of about $7.7m, making it the 812th-largest crypto by that metric.
Monavale price predictions
Let’s now take a look at some of the Monavale crypto price predictions that were being made as of 21 September 2022.
It is important to mention at this stage that, since cryptocurrency can be incredibly volatile, most if not all price forecasts turn out to be wrong. Also, we should remember that many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.
First, CryptoPredictions had a rather bearish Monavale price prediction for 2022, suggesting that the token could drop to $694.83 by the end of the year. By September 2023, though, there could be a recovery to $834.45.
A year on from then, the site says, MONA could have broken past the $1,000 mark to potentially be worth $1,130.20, before it could hit a fraction of a cent under $1,415.14 in September 2025. By September 2026, Monavale could be worth $1,657.81 before it closes the year at a little under $1,712.24.
Next, CoinArbitrageBot appeared to be ferociously optimistic when it came to a Monavale crypto price prediction. It said the token could potentially rise to $985.34 this year, before climbing above the $1,000 mark to end 2023 at £1,735.70.
By 2024, the forecast indicated that MONA could be worth $2,837.49 before it made a Monavale price prediction for 2025 of $4,591.06. How much you trust this forecast will depend on whether, having done your research, you believe that Monavale has the potential to grow by nearly 500% over the next three years or so.
Meanwhile, PricePrediction made a MONA price prediction that argued the token’s value could drop to $677.48 in 2022 before rising to $984.22 in 2023 and going above $1,000 to $1,416.22 in 2024. By 2025, the site said, Monavale could be worth $2,057.62.
In 2026, the forecast was for MONA to trade at a potential $2,960.77, possibly reaching $4,515.46 in 2027 and $6,434.94 in 2028 before closing the decade at $8,994.02. The site’s Monavale price prediction for 2030 saw it break past $10,000 to trade at a potential $12,692.87 before, the site said, it could reach $18,262.39 in 2031.
Finally, WalletInvestor was a lot more downbeat when it came to making a Monavale price prediction. The site said that the token was in for a tough time over the next year or so, with the forecast indicating that it could lose more than half its current price to stand at a little under $338.74 by September 2023.
When considering a MONA token price prediction, it’s 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. As such, 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, and never trade with money that you cannot afford to lose.
FAQs
Is Monavale a good investment?
It is hard to say. It is worth noting that the relatively high price of MONA has more to do with its scarcity than its actual value. That said, the token has risen over the course of 2022, so there is some potential for robustness there. We will have to see what is next for DIGITALAX and how the crypto market behaves in general
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear market, so investors should be prepared to make losses and never purchase more than they can afford to lose.
Will Monavale go up or down?
It is difficult to tell. While there is optimism from the likes of CoinArbitrageBot, other sites such as WalletInvestor are far more pessimistic. Keep in mind, too, that price predictions often turn out to be wrong, and that prices can go down as well as up.
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 MONA 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, and never invest any money that you cannot afford to lose.
Should I invest in Monavale?
This is a question that you will have to answer for yourself. Before you do so, you will need to conduct your own research. Never invest more money than you can afford to lose because prices can go down as well as up.
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