Despite starting the year strong, MKR has encountered a choppy path in recent weeks, leaving investors with a mixed bag of signals to decipher. While the decentralized finance (DeFi) leader has maintained its position above key support levels, concerns have emerged surrounding a prominent wallet’s sizeable token sale and a declining trading volume. Maker Resilience Faces Uncertain Shadows On the bright side, Maker has demonstrated resilience amidst broader market downturns. After a notable surge on January 24th, the token has held its ground, defying predictions of a deeper correction. This steadfastness has fueled optimism among some analysts, who predict a continued upward trajectory for MKR throughout 2024. Related Reading: Solana Breakout Looms – Will SOL Retake $100 Before Start Of February? However, a recent development has cast a shadow of uncertainty. Data from on-chain analytics firm Spot on Chain revealed that a well-known wallet, reportedly associated with a MakerDAO co-founder, unloaded a hefty 2,235 MKR over the past two days. This translates to a staggering $4.5 million at press time, sparking fears of a potential “whale dump” that could trigger ..
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