Meta reported losses of $10 billion from its augmented and virtual reality division, and most metaverse tokens were affected. Decentraland was no exception. However, it began to recover soon after and has posted gains for several consecutive days.
Is it time to buy the dip? Will it be too late soon? This short article attempts to answer those questions and also suggests where to buy Decentraland now.
Best places to buy Decentraland now
What is Decentraland?
Decentraland launched in 2017 through an initial coin offering (ICO) that raised $24 million. Its token, MANA, runs on the Ethereum mainnet. MANA can be used to buy virtual land and other items inside the Decentraland metaverse.
Within Decentraland, users can take part in a variety of activities such as gaming, creating digital art, and attending virtual events and parties.
One reason MANA may be rising is a recent announcement about a metaverse party for the Australian Open hosted by Steve Aoki. The event took place inside Decentraland and featured performances from multiple artists, generating excitement.
The Australian Open is one of the biggest annual tennis tournaments, attracting hundreds of thousands of viewers worldwide. Hosting a major event there improves Decentraland’s reputation and lends it greater legitimacy.
Should I buy Decentraland today?
Most analysts are optimistic about Decentraland, but price predictions and investment advice should be taken with caution. Metaverse tokens are prone to extreme volatility, and potential buyers should be aware of the risks before investing.
Decentraland price predictions
CryptoNewsZ predicted a 2022 price target of $5.10 for MANA. If reached, that would represent an 82% gain from the then-current price. Wallet Investor published a similar forecast, suggesting MANA could trade around $5.04 by the end of the year.
Decentraland on social media
$MANA (Update)
Breakout is Confirmed as Expected…!!$MANA #Decentraland #MANAUSDT pic.twitter.com/6ICQgpIxdn
— ZAYK Charts (@ZAYKCharts) February 5, 2022