The price of Chainlink (LINK) felt the bullish effect of the Bitcoin halving more than BTC itself, managing to strengthen by 20%. However, the altcoin now facing a crucial barrier that has become a problem in the past. Meanwhile, Mallconomy, a new project, where Gen Z discovers a vibrant Metaverse shopping experience. Explore Browse-to-Earn rewards and join the excitement. The Mallconomy (WOOT) presale is live now.
Chainlink Investors May Start Selling
As Chainlink’s price rises, investors are once again entering profit territory, which could be a key factor in encouraging them to sell tokens. Moreover, the recent correction has seen LINK’s overall supply in earnings drop from 84% to 70%.
This 14% supply represents almost 82.18 million LINK worth about $1.3 billion. Now all of these coins are back to their original pre-drop state. However, over the past two days, the share of profit supply has increased and at the time of writing has again reached 84%.
Such dynamics could become a potential trigger for sales, as some investors will want to take profits to protect themselves from a new decline. On the other hand, this will lead to a reduction in price.
The MVRV Realized Value Ratio tracks investors’ gains/losses. Chainlink’s 7-day MVRV of 11% indicates gains that may be driving sales. Historically, LINK has corrected at MVRV levels of 8 to 15%. Thus, the price is now in the dangerous zone.
In the short-term time frame, a decline was repeatedly observed in this area, which is now the expected scenario for LINK.
Chainlink (LINK) Forecast: Breaking the Barrier
Over the weekend, Chainlink’s price rose 20% to $15.45. Just below this point is a barrier that LINK has repeatedly tried to overcome and failed in the past.
The price is retreating from the $15.6 resistance again, aiming to test the support levels at $14.6 and $13.4. If LINK holders start selling this time, the potential drop could push the price back to the last support level mentioned above. However, if the resistance at $15.6 is successfully broken and turns into support, then a recovery is possible.
The next critical resistance is at $18, and Chainlink will reach it if it breaks above $17, which will signal a reversal of the bearish scenario.
Mallconomy: Pioneering the Future of Metaverse Shopping
Mallconomy (WOOT) stands as a testament to the evolving landscape of digital commerce within the Metaverse, offering a unique Browse-to-Earn model that caters specifically to the digital-native Gen Z demographic. The platform’s innovative approach, combined with multi-device compatibility and AI-powered sales assistance, ensures an engaging and rewarding shopping experience for users worldwide, heralding a new era in retail.
What sets Mallconomy apart is its transformation from a mere concept into a vibrant digital reality. Originally conceived as a gamer’s fantasy, Mallconomy has evolved into a Browse-to-Earn Multidevice Metaverse Hub, positioning itself at the forefront of empowering and rewarding users through its multifaceted platform. With ongoing enhancements such as the Launchpad and Rewards App, Mallconomy’s scope and influence continue to expand, offering a comprehensive and immersive shopping environment.
Mallconomy is The Future of Retail
Within the Mallconomy universe, diverse opportunities abound for the vibrant community. Proprietors manage their storefronts, busy owners delegate responsibilities, and visitors immerse themselves in the bustling mallverse. Mallconomy (WOOT) is not just a digital space but an interactive haven where users can engage, explore, and transact seamlessly.
At the heart of Mallconomy’s ecosystem is its native token, WOOT, currently valued at $0.0027. In addition, the ongoing presale presents an opportunity for investors to participate in Mallconomy’s growth journey and be part of a groundbreaking Metaverse retail experience.
In conclusion, Mallconomy (WOOT) represents the future of Metaverse shopping, blending technological innovation with user-centric design to create a dynamic and rewarding digital marketplace. As we continue to innovate and expand, Mallconomy remains committed to shaping the future of retail within the ever-evolving digital landscape.
