MonaCoin (MONA) is a cryptocurrency quite famous in Japan’s regions. It was designed as a network for peer-to-peer transactions, so there is no need for exchanges or third-party involvement. Like most cryptocurrencies, nobody knows who created the MONA coin; it was created in 2013 and launched the following year.
The MONA coin makes use of a blockchain that is quite similar to that of Litecoin. Moreover, MONA is a meme coin that was named after a cat-like character called Mona that was created using ASCII.
Being the first altcoin in Japan, the coin was a massive success after its release. But since then, the coin has been struggling in the market. Recently, this has started to change and, now the coin is showing signs of a bull run. In this article, we are going to take a look at this and delve more into the MONA coin.
MONA coin current market analysis
The MONA coin, one of the top meme coins in the Japanese market is now currently trading at $0.2805. Since its launch in 2014, the coin has faced so many ups and downs. Now, with a monthly rate of 2.60% and a weekly gain of 1.24% (at the time of the article’s writing), the coin is slowly but steadily gaining on various cryptocurrencies in the market.
With a circulation of 65.73 million coins in the market, the total market capitalization of the coin now stands at $17.16 million. As the meme coin market is slowly flourishing in the crypto world, this price is expected to increase monumentally in the coming months.
Factors that influence the price of the MONA coin
Many factors can influence the price of a particular coin in the market. As demand for the coin increases in various exchanges, the value of the coin can surge at any moment. But mainly, there are only two things in the crypto market that can affect the price of a coin, and they are supply and demand. Now, let’s look deeply into these factors.
- Popularity: The popularity of the MONA coin increased since the crypto boom in 2017, it surged during those times, even reaching an all-time high of $14.92. Since then, it has gradually waned. But recently, the coin has been trying for a comeback.
- Uses: MONA coin is primarily used for P2P transactions, tipping, and as a payment method in some Japanese businesses.
- Blockchain: The blockchain employed by the MONA is quite similar in functionality to that of Bitcoin and Litecoin. It also employs the POW algorithm to validate transactions and secure the network.
- Mining: MONA coins can be mined with the difficulty level changing with each new block. At the current difficulty level, it would at the very least take 36.3 days to mine a MONA token.
All of these factors directly or indirectly contribute to the rise or fall of a coin in the market. Also, the increased adoption of the MONA coin in various business ventures in Japan recently also contributed to the rise of the coin in the market. With a real-world application assigned with a meme coin like MONA, it is no wonder that the coin rose in the market, especially in the last month.
What the future holds for the MONA token, Price Prediction
We have discussed the current market standing of the MONA coin and the various factors that influence its price in the market. Now, let’s take a look at what the future holds for the MONA token in the coming years. For this purpose, we have prepared a detailed price prediction table for the coin with the help of various experts in the market.
| Year | Highest value | Average price | Lowest value |
|---|---|---|---|
| 2025 | $ 0.334744 | $ 0.238058 | $ 0.206433 |
| 2026 | $ 0.0227936 | $ 0.184652 | $ 0.174043 |
| 2027 | $ 0.185361 | $ 0.178527 | $ 0.174217 |
| 2028 | $ 0.243525 | $ 0.169151 | $ 0.12959 |
| 2029 | $ 0.232316 | $ 0.110003 | $ 0.066021 |
| 2030 | $ 0.097225 | $ 0.038377 | $ 0.024141 |
Keep in mind that the above-mentioned price is subject to market changes and can vary accordingly.
Conclusion
Mona coin dubbed as “the first cryptocurrency of Japan” is one of the prominent meme coins in the market. It was performing moderately in the market up till last month. Since then, the coin’s value has surged. As of this moment, we can’t conclude that it is in fact a short-term growth or a long-term bull run on the coin’s part.
But the fact remains that even with a real-world use case, MONA is a meme coin. Therefore, it is deemed as a high-risk, high-gain investment. So if you’re considering investing in the coin based on its current performance in the market, make sure to conduct thorough research on your part before proceeding with the investment.
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