Good news about the MBOX project keeps coming out! Recently, its trading depth has been increasing, attracting more and more investors' attention.
MBOX has released good news again in recent days, exciting the market! Last night’s copycat mbox also had a correction. I thought that was it.
But mbox’s official Twitter just announced that the project plans to use US$7 million to destroy tokens. The specific amount and time of destruction are still uncertain
However, looking at the trading depth, the current trading depth raised to 0.5 is about 2 million. According to public trading depth data, the current trading depth of MBOX is approximately US$2 million. Under normal trading conditions, a trading depth of more than 2 million requires approximately 4-6 million funds. If the project team really uses 7 million funds to repurchase tokens, the selling pressure above may be quickly digested.
In this case, we continue to observe the market trend and wait for the final result. After all, both good news and repurchase actions may have a positive impact on the market. Let us look forward to MBOX's market performance in the future.
MBOX trading volume surges, bullish sentiment is strong
The growth in MBOX trading volume is undoubtedly a highlight of the recent crypto market. According to data, a large number of transactions were created on the MBOX trading platform this month, a phenomenon that is closely related to the increase in overall activity in the crypto market. Especially in the field of DeFi, the transaction volume of MBOX has increased significantly, which further confirms the impact of the DeFi craze on the entire crypto market.
1. Whale load intake:
In the crypto space, large trades are often made by whales, who influence market prices by buying or selling assets in large quantities. The increase in trading volume at the bottom of MBOX can be understood as whales taking in a large amount of assets, which indicates that the market may have a violent rise. Therefore, this volume increase in MBOX is a bullish sign from a whale load intake perspective.
2. Technical analysis:
By observing the trading volume trend chart of MBOX, we can find an obvious bottom pattern. The emergence of this bottom form usually means that the market is accumulating energy and preparing for the next rise. Combined with the analysis of whale load intake, we can expect that the trading volume of MBOX will increase dramatically in the future.
3. Price prediction:
Based on the above analysis, we have a general expectation for the future price trend of MBOX. In the short term, MBOX is likely to continue its upward momentum, with a target price of $0.60. In the medium term, as the market continues to heat up, the price of MBOX is expected to reach US$2. In the long term, if the market environment stabilizes and MBOX can continue to maintain its trading volume growth, its price may hit a high of $10.
Overall, the large number of transactions created by MBOX this month provides strong support for its future price increases. Whether from the perspective of whale load intake, technical analysis or price prediction, MBOX is expected to usher in a wave of rising prices in the coming period. So now might be a good time for investors to get in.
