Uniswap Price Prediction: Is UNI Hit $10-$50 Possible?
The price of Uniswap (UNI) fell to $9.0 just as the market was hoping for it to break through the $10 mark. UNI is down about 10% from its previous high of $9.80.
No single catalyst can explain this sudden reversal for decentralized exchanges (DEXs). Instead, UNI’s intraday pullback coincided with a sell-off across the market.
Bitcoin (BTC) just fell back below $67,000, having hit $72,000 earlier this week. Other major cryptocurrencies are also falling, with Ethereum (ETH) falling back to around $3,600 from an intraday high near $4,000.
Perhaps the market is reacting to some major positive news this week - market expectations that the SEC will soon approve a spot Ethereum ETF, and that the FIT21 bill passed the House of Representatives.
Regardless, Uniswap’s price is taking a hit. Where might it go next?
Uniswap Price Prediction – Is $50 Possible?
$10 is a key resistance area for Uniswap price. It's no surprise that UNI encountered strong resistance here. But that doesn't mean UNI's resurgence is over. The cryptocurrency has recently significantly surpassed its 21-day and 50-day moving averages.
Previously, it had been stuck in a range of around $6.50 to $8.0 for over a month. It could rise again to $17 later this year.
Uniswap price may soon rise back up to the highs seen at the beginning of the year.
The SEC’s change of attitude toward the Ethereum ETF has raised hopes that they may not file a lawsuit against the Uniswap Foundation. The Uniswap Foundation received a Wells Notice from the agency earlier this year. It would be a big relief for UNI if the agency did not proceed with the lawsuit.
But will it go to $50?
Well, Uniswap was as high as $45 in 2021. That was the peak of the last cycle of meme coin mania.
But this cycle may be crazier than the last. In some ways, it already is, with Bitcoin hitting new record highs this year and remaining quite comfortable in this price range.
This reflects a significant increase in cryptocurrency adoption since 2021. Using $50 as an example, Uniswap would reach a fully diluted market cap of just over $50 billion.
As the leader of the dominant multi-chain DEX protocol continues to lead the development of its industry, this is not an unfair price prediction.
Alternative to Uniswap – Multi-Chain Meme Coin Dogeverse (DV)
UNI may 5x from current levels in this bull market. Most investors would be very happy with 5x earnings. But many investors are pursuing greater upside, reaching 50-100 times. These investors tend to turn to the highly speculative and volatile memecoin market.
Memecoins are of course very risky, that’s inevitable. But one way investors can tilt the odds in their favor is to get in early on meme coins with huge potential and enter the market at favorable valuations before they start to rise.
One meme coin that the Cryptonews team believes has great potential is Dogeverse.
Dogeverse has built-in cross-chain capabilities and is therefore generating considerable excitement in the market.
Currently in the pre-sale stage, Dogeverse has raised over $15 million. Its X account already has more than 21,200 followers. Meanwhile, the project’s Telegram group has nearly 13,000 subscribers.
Dogeverse aims to be a multi-chain version of Dogecoin and will launch on the six most popular blockchains (excluding Bitcoin).
Dogeverse’s cross-chain bridging capabilities further enhance its appeal, making it a “Dogecoin” with “superpowers.”
Interested investors should hurry up and get in before the official launch on June 5th.
Pre-sale ends on June 3rd.
Visit Dogeverse: https://cn.cryptonews.com/ext/dogeverse-cn/
Original text: https://cn.cryptonews.com/news/uniswap-price-prediction-as-uni-reaches-for-the-10-mark-is-50-possible.htm