CandleFocus Moonwell price dives, but crypto pros expect WELL to rebound
2024-11-05
Author: Content Editor
The Moonwell lending decentralized application network on the Base blockchain has experienced a decline, with its token dropping to its lowest point since October. Despite this, the token's market cap remains significantly higher than its lowest point in July. Moonwell has seen substantial growth this year after expanding to Base, generating significant fees and increasing its total value locked in Base's DeFi networks. Moonwell's growth coincides with that of Base, which has become the sixth-biggest chain in the industry. Analysts believe the current pullback could be a good entry point, with predictions of a 1,775% surge in the WELL token's value. The token may bounce back and retest resistance levels, but a break below the 50-day moving average would suggest further downside.
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