What’s Behind 400% Gain in a Week?

Moonriver is a network that works with Ethereum and Kusama. It is a test network for Moonbeam, which is on Polkadot. Moonriver lets developers use Ethereum tools and code on Kusama. 

It has a native token, MOVR, which is needed for securing the network. MOVR is used for various purposes such as Paying for smart contracts, Rewarding collators who run the network, Voting on network changes, and Paying for network fees. 

Moonriver price technical analysis witnessed a sudden price hike in the last week that took the price from a low of $6.8 to a high of $43.5 in a single week. The price witnessed a gain of over 400% however, a minor sell-off came in the last session of the week due to which it closed near $35. 

Furthermore, the price is showing some sort of selling at the beginning of this week but may show gains by the weekly closing. The bulls are dominating which may further help the price gain more. 

The volume analysis shows that the trading volume dropped by 54.2% and reached $453.374 Million in the past 24 hours. The MOVR crypto ranks 181st among the top cryptos with a live market cap of $273.685 Million. The volume-to-market cap ratio is 175.45% indicating very high volatility. 

Moonriver Price Prediction 2023

The price prediction of MOVR crypto showcases a neutral to bullish outlook in the short term. The most optimistic estimate of the analysts expects the price to reach a high of $44.1, indicating an upside potential of over 34.90%. The pessimistic outlook of the analysts hopes the price may drop to $24.37. 

Moonriver Price Prediction 2024

As per the analysts, the most optimistic target that the Moonriver crypto price may achieve is $77.70, indicating an upside potential of 124.53% from the CMP. The minimum analyst price target is $46.14 by the end of 2024. 

Moonriver Price Prediction 2025

Over the next three years, the optimistic view of analysts expects that the MOVR price may reach a high of $114.65. The price may reach $94.90 according to the average forecast of analysts. Its minimum forecasted price by the end of 2025 is $82.49.

Moonriver Price Prediction 2026 

The Moonriver cryptocurrency price may reach a high of $174.82 if an optimistic trend prevails in the crypto market. On the flip side, the pessimistic view of the analysts expects the price to reach $127.10 by 2026.

Moonriver Price Prediction 2027

According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts for the Moonriver token estimates a price target of $245.30. The minimum price target that MOVR may achieve by 2027 is $191.42. 

Moonriver Price Prediction 2028

The analysts are optimistic about Moonriver cryptocurrency (MOVR) and predict that the price could go up to $335.64 in the next five years. However, the pessimistic analysts expect the price to reach a high of $273.80.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.