The Consumer Price Index (CPI) for November revealed that inflation fell for the fifth month in a row, with the annual inflation rate falling from 9.1 percent to 7.1 percent in November compared to June.
This has had an impact on some major crypto tokens such as Solana (SOL), Dogecoin (DOGE), and Metacade (MCADE). Keep reading our article to learn more.
Falling inflation: What is the CPI and how does it affect the crypto markets?
The CPI is an indicator that measures the overall change in prices for a range of goods and services in percentage terms. It is announced monthly and shows the average change in prices over the previous 12 months.
The news of the decline in inflation had a positive impact on the crypto markets as DOGE, SOL and MCADE also showed price reactions. While SOL rapidly increased by 17.4 percent after the CPI data were announced, DOGE increased by 9.6 percent. MCADE, a brand new GameFi platform that recently announced its token presale, has sold out all of its initial investment round.
Metacade is the first community-driven gaming platform to feature classic arcade-style games and a variety of crypto-driven revenue streams. The platform aims to be a centralized platform for Web3 users, to offer a wide range of uses for token holders, and to offer community-specific business opportunities.
How Does MCADE Work?
The on-chain arcade will offer casual and competitive players a number of different Play2Earn (Play to Win) games, as well as Compete2Earn (Race to Win) tournaments where players can test their skills one-on-one. Compete2Earn will feature paid participation games where winners can access massive MCADE prize pools.
Thanks to the Work2Earn feature, Metacade will bring users together with tasks that will be paid in various Web3 projects. These positions can include part-time jobs, freelance positions, and even beta test positions that allow the Metacade community to play new blockchain games before they are officially released. Beta testers will earn MCADE tokens by providing feedback to development teams, helping to fix bugs and make improvements before a new game is released.
The Create2Earn feature will reward the community that contributes to the platform in various ways. Whether interacting with other users, sharing game reviews or streaming the latest GameFi alpha, Metacade users can earn MCADE tokens for information they share on the platform.
Could MCADE Reach $1 in 2023?
After the latest news about falling inflation, the MCADE token presale phase has been a huge success. Investors purchased 140 million MCADEs in just over 3 weeks, raising $1.12 million in funding for the new GameFi platform. Many investors have been impressed with Metacade’s advanced earnings mechanics and this is expected to attract the attention of the decentralized community over time.
The price of MCADE is expected to skyrocket at the end of the presale period, with experts predicting a 50x gain in 2023. The token is currently selling at an undervalued price of $0.01, and lower inflation means macroeconomic conditions are improving. MCADE looks to be one of the biggest investment opportunities in the presale period as big gains are on the horizon for MCADE.
What is Dogecoin (DOGE)?
Dogecoin is a popular meme coin that was originally created as a joke. Since then, DOGE has skyrocketed and has become a fun entry point for new blockchain users – but the token has historically lacked any utility.
In recent years DOGE has become an increasingly popular method for international payments. The token has been used to tip creators across various social media platforms, and rumors suggest that the token could be integrated with Twitter after Elon Musk, an advocate of Dogecoin, bought the platform.
2023 DOGE Price Forecast
Continuing to be a popular cryptocurrency, DOGE is currently among the top 10 coins by market cap. DOGE could reach as high as $0.20 in 2023 but is facing strong resistance at this price level.
What is Solana (LEFT)?
Solana is a Layer-1 blockchain that combines two methods of achieving network consensus (proof of stake and proof of date) into a unique protocol. Blockchain hosts many decentralized applications (dApps) and its users can perform a large number of transactions at low costs.
2023 SOL Price Forecast
SOL tumbled over 70 percent in November as FTX and Alameda are major backers of the ecosystem. The reason for this decline was that both companies declared bankruptcy.
On the other hand, a recovery has been seen for SOL after the fall in inflation and the token is expected to gain momentum in 2023. The Solana project continues to be developed and SOL may again reach $75 (7 times its current level).
MCADE Sets to Peak in 2023 with Falling Inflation
Macroeconomic perception has changed positively due to falling inflation news. Metacade is well positioned as the diversity of decentralized earning opportunities is expected to increase in value throughout 2023.
The price of MCADE will rise from $0.008 to $0.02 during the presale, and each funding round is expected to run out quickly. Investors have a limited time to get involved in this project, which is highlighted as one of the best investment opportunities of the year. This project will definitely make an excellent addition to any investment portfolio.
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