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Metacade ($MCADE) resumed its downward movement on Monday after it plunged 5% in the last 24 hours to bottom at $0.0074.
Among all asset classes, $MCADE has undergone one of the most volatile trading histories since its debut, enduring a retracement of nearly 84% from its all-time high of $0.045.
Even amid the sharp market recovery that took the Bitcoin price above the $60k level in July, $MCADE is still stuck within the red zone, raising concerns about its future.
What’s causing the prolonged downturn in the price of $MCADE? Will the token recover or conclude the year on a more bearish note? This article will provide answers to these questions and also suggest two leading alternatives that savvy investors can shift their attention to.
What Is Metacade?
Metacade prides itself as the hub for play-to-earn players, developers, and investors to maximize the benefits of GameFi. It leverages the powers of Web3 and blockchain to deliver a platform where players can interact with like-minded enthusiasts, discover new P2E games, and participate in new tournaments.
Some of the most popular games on the platform are WilderWorld, Decimated, Chains of War, Gran Saga, Gold Fever, Rune Realms, Stumble Upon Rumble, Marvin’s Survivors, Crazy Ants, and Flight Force among others.
Meanwhile, apart from earning free rewards through its lineup of games, users can also monetize their gaming skills and knowledge by teaching other community members. In fact, experienced players on the platform can make more money by publishing exclusive articles on critical areas within the gaming space.
Being an incentive-based ecosystem, Metacade’s native token $MCADE serves multiple purposes. First, it provides an avenue for players to participate in tournaments and compete for rewards. More so, holders of the token have the right to vote on games that will be funded by Metacade’s Metagrants scheme.
The Metagrants scheme is an initiative that’s designed to fund developers’ gaming proposals and provide emerging titles with the needed financial backing to thrive. Through $MCADE, players can also participate in tournament challenges and get rewarded.
Metacade ($MCADE) Price Analysis & Forecast
After successfully selling out its presale, raising upwards of $15 million, $MCADE officially made its IEO debut on Uniswap in April 2023 with $0.022 as its listing price. With that, those who purchased the token at the earliest stage of its ICO event made over 150% gains. Besides Uniswap, $MCADE was also listed on other exchanges like BitMart and Bitget.
That being said, $MCADE took off on the right foot, recording a significant price appreciation within the first few weeks of going live. Before the end of April, the token was already trading above the $0.027 level.
In May 2023, the bulls sprung into action again to sustain the uptrend and finally pushed the token’s price to its all-time high of $0.045 on the third day of the month. However, since that time, $MCADE has not posted any significant price gains.
Over the past year, $MCADE has seen more red candles on the charts, falling by over 29%. More so, according to Coincodex’s data, $MCADE witnessed 13/30 (43%) green days and 4.11% price volatility over the last 30 days. This shows that the general sentiment around the token is bearish as holders are now shifting their attention to newer crypto assets with better postures and utility ideas.
Renowned for its community-driven arcades, Metacade’s major concept is to provide a blockchain-based arena for players to discover and play a plethora of P2E games. While this niche has recorded a surge of interest in recent times, boasting a market valuation of $9.9 billion, Metacade has not really seen any massive growth as there is an influx of similar projects competing for market share.
Therefore, for $MCADE to recover from its downtrend, the project’s team must integrate compelling games that can add more tangible value to its ecosystem. Metacade’s ability to feature games that appeal to a wide player base will not only enhance the token’s utility but also foster sustained interest and investment.
Another important factor that can trigger a surge in the price of $MCADE is its listing on leading crypto exchanges like Binance. Considering its enormous trading volume and user base, any token that’s listed on Binance will definitely reach a broader audience, thereby driving up its demand and price.
While the next bull run will also play a crucial role, Metacade’s performance in the coming months will be greatly determined by how it is able to keep its community engaged through highly exciting games and its potential exchange listings.
However, given the current developments around the project, there are no indications that any of the aforementioned developments will be happening soon. As such, $MCADE may probably end the year without any noticeable price surge.
Upcoming Coin Listings – PlayDoge & The Meme Games
With the uncertainty around the future of $MCADE, investors might seek out new ICOs ahead of exchange listings – two of which Cryptonomist has reviewed are PlayDoge and The Meme Games. Apart from their meme coin appeal, these two projects are earlier in their roadmap and rapidly growing communities of their own.
More so, since they are still available on presale, they provide the best early-moving opportunity for those seeking good returns at low costs. In this section, we will dissect all the core elements of these projects.
PlayDoge (PLAY)
PlayDoge (PLAY) made a grand entry into the market a few months ago and has quickly captured the imaginations of many investors, thanks to its seamless combination of meme coin and P2E aesthetics. Developed on the Binance Smart Chain, this innovative project brings the concept of the viral Tamagotchi into the decentralized realm.
At its core, PlayDoge presents a distinctive lore that tells the tale of how a Doge disappeared without a trace. Nonetheless, while navigating his PlayDoge app, one fortunate meme trader discovers that the missing Doge has evolved into a two-dimensional pixelated character but needs constant care.
Staying true to its mission to rejig the 90s feeling and rebuild the relationship between people and their favorite Doge pets, PlayDoge is working on developing a nostalgic mobile game. Featuring high-end graphics and touchscreen controls, PlayDoge’s upcoming game will empower players to interact, train, feed, and look after their pets.
To deliver optimal security, PlayDoge’s smart contracts have been fully audited by SolidProof, a renowned blockchain security firm.
Meanwhile, at the heart of the PlayDoge ecosystem is the $PLAY token. Besides its doge-themed origin, this token provides an earning opportunity, allowing players to savor free crypto rewards for keeping their pets alive. In addition to this, $PLAY has a staking facility so that early buyers can earn passively for their contributions to the stability of its network.
Furthering its appeal is its multichain attribute. Although it started on the BSC network, PlayDoge has successfully jumped to Ethereum. With that, the project opens its doors to crypto investors from different communities.
Another factor that has contributed to the PlayDoge’s credibility and widespread acceptance is its appearance on leading crypto publications like Cointelegraph, Coinpedia, and NewsBTC. Over the years, these news outlets have built a solid reputation for covering legitimate projects alone. Hence, PlayDoge’s ability to appear on these platforms speaks to its legitimacy and integrity.
At press time, PlayDoge (PLAY) is nearing the $6 million mark in presale, positioning it as one of the most in-demand tokens on the market. Given its multiple upsides, influential crypto channels like Cryptonews have tipped the token to become the next big GameFi project.
Additionally, the project has a higher chance of listing on Binance due to its connection with the BSC network. The anticipation around this potential listing may result in a tremendous price rally for $PLAY. As such, it comes as an ideal investment opportunity for those seeking to diversify to a new crypto asset that offers a mixture of fun and functionality.
For those interested, 1 $PLAY is selling for a presale price of $0.00524 and can be purchased with BNB, ETH, USDT, and credit/debit cards.
To stay updated about its future listings and upcoming P2E games, follow PlayDoge on X.
The Meme Games (MGMES)
The Meme Games (MGMES) is another GameFi project that has positioned itself on the watchlists of many investors. Drawing direct inspiration from the competitive spirit of the Olympics and the viral success of top meme coins, The Meme Games is offering a P2E ecosystem that can help investors win big rewards from the start.
What sets Meme Games apart from other projects is its gamified presale model, empowering crypto bulls to select any of their preferred meme coin characters for a rewarding 169m sprint. Participants will be able to select between Dogecoin, Brett, Pepe, Dogwifhat, and Turbo. If any of the selected meme characters win the race, investors will get a 25% bonus on the $MGMES tokens they purchase.
To provide a fair chance for every athlete to win, The Meme Games ensures that the outcomes of the sprints are random. More so, it supports multiple entries with no minimum purchase requirement. This means early birds can always participate in the digital journey of chance, reward, and excitement as many times as they want.
Another key attraction for The Meme Games is its staking model, offering an attractive three-digit APY reward. According to its website, the presale will run until the end of the ongoing Olympic games and open for DEX trading on September 10, 2024.
Meanwhile, despite launching some days ago, The Meme Games has already attracted the attention of reputable market experts like Jacob Bury, Crypto Gains, and ClayBro. Just recently, ClayBro discussed the token’s post-launch potential, saying it has all the qualities to become the next Pepe.
Ahead of its eagerly-awaited DEX listing, early investors can capitalize on its low presale price to get in on the ground floor. At the time of writing, the presale has garnered close to $300k, highlighting the real buzz around the project.
For more updates, follow The Meme Games on X or join its Telegram channel.
