This article will analyze the MNW token according to www.coinmarketcap.com data. First, we will discuss the MNW token and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is MNW Token?
The Morpheus.Network (MNW) is a utility token associated with the Morpheus.Network platform. The Morpheus.Network aims to streamline and automate supply chain processes using blockchain technology and smart contracts. It provides a decentralized platform for seamless and secure communication, documentation and payments among various parties involved in global trade .
What are the projects of MNW?
The projects of the Morpheus.Network platform include :
Supply Chain Visibility: The platform enhances transparency by providing real-time tracking and visibility of goods throughout the supply chain. This enables businesses to monitor and manage their shipments more efficiently
Automated Documentation : Morpheus.Network automates the creation and verification of shipping and customs documents, reducing paperwork and improving accuracy. This simplifies the complex documentation process in international trade .
Smart Contracts and Payments : The platform employs smart contracts to automate and secure transactions within the supply chain. It facilitates prompt and transparent payments, eliminating intermediaries and reducing costs
Compliance and Regulatory Framework: Morpheus.Network assists businesses in complying with various regulatory and compliance requirements across different jurisdictions. This helps streamline cross-border trade and reduce delays caused by non-compliance .
Factors Influencing MNW Price
As for the factors influencing the Morpheus.Network (MNW) coin price, it’s important to note that cryptocurrency prices are affected by a wide range of factors and can be highly volatile. Some factors that may impact the cost of the MNW coin include the following :
Market Sentiment : The overall sentiment towards cryptocurrencies and blockchain technology can impact the demand for the MNW coin. Positive sentiment and increased adoption of blockchain-based supply chain solutions could raise prices
Adoption and Partnerships: The success and adoption of the Morpheus.Network platform by businesses and industry players can influence the demand for the MNW coin. Partnerships with established companies or organizations also positively impact the coin’s price .
Regulatory Environment : Regulatory developments and government policies regarding cryptocurrencies and blockchain technology can impact the market sentiment and, consequently, the price of the MNW coin. Favorable regulations may lead to increased adoption and positive price movements
Technology and Development Progress : The development progress of the Morpheus.Network platform, including introducing new features and technological advancements, can influence investor confidence and the perception of the project’s potential, thus affecting the coin’s price
Market Factors: Cryptocurrency markets are influenced by broader market trends, such as overall market sentiment, investor demand for digital assets, macroeconomic factors, and geopolitical events. These factors can impact the price of the MNW coin, similar to other cryptocurrencies.
It’s essential to conduct thorough research and analysis, considering multiple factors, before making investment decisions. Additionally, as my knowledge is based on information available until September 2021, I recommend checking reliable sources and the latest updates for the most current news on Morpheus.Network (MNW) and its associated coin .
MNW TOKEN TECHNICAL ANALYSIS
After seeing its historical high of $ 5.9001 in November 2021, MNW dropped 95% by June 2022, down to $ 0.3011. The MVW token has been slowly rising since June 2022 and is currently trading at $1,1393. According to www.coinmarketcap.com data, MNW has a size of $54,275,578 and has had a volume of $187,115 in the last twenty-four hours .
MNW Token Chart Analysis
After testing its historical peak price of $5,9001 in November 2021, the MNW token started to decline and fell by 95% to $0.3001 by June 2022. The MNW token, which has been on the rise slowly since June 2022, could not sustain this rise even though it rose to $2.5648 in February 2023 and is currently traded at $1.1393. When we examine the weekly chart, we see that the MNW token has retreated toward the $0.9520 support. On possible upward moves, the resistance zone for the MNW token is $1,8111 .
This article does not certain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.