- Mask prices are up double digits today and up 17% over the past two weeks.
- Most of the gains came after the team announced an investment in The Open Network (TON) network.
- Mask prices remain down nearly 90% from their all-time high of $41.45.
Mask Network (MASK), a decentralized social network that seeks to connect Web2 and Web3 apps, has seen its price increase by more than 10% in the last 24 hours. The current price of the mask is $4.40.
Mask prices have risen more than 17% in the past two weeks.
Why did the price of Mask Network (MASK) rise today?
There appears to be no special reason for mask prices to rise by double digits today. However, the project’s recent announcement of investment in The Open Network (TON) appears to be continuing to boost investor confidence and aid buying pressure.
Another reason could be the upward trend seen in the broader cryptocurrency market today.
Bitcoin prices are trading above $27,000 again after almost falling below $26,000 earlier in the week. This comes after news that the US has agreed on a debt ceiling, and as BTC rises, this sentiment is likely to trickle down to small-cap altcoins like MASK.
As of this writing, daily trading volume for masks is well over $80 million, a 148% increase over the last 24 hours. The surge in market activity has pushed Mask Network, ranked 110th on CoinGecko, to a market capitalization of approximately $354 million.
mask price prediction
Despite this rise, mask prices remain down nearly 90% from their all-time high of $41.45. The token reached ATH on February 24, 2021.
However, the current value is 352% higher than the all-time low of $0.976528 recorded on October 13, 2022, so today’s gains could allow traders to take profits. Although this could happen, some analysts believe the token is poised for a breakout.
Crypto analyst Captain Faibik said MASK could see a breakout as shown in the chart below. shared On Twitter.
Chart showing a potential price breakout for the Mask Network. Courtesy of Captain Faibik on Twitter.
According to analysts, MASK could surge more than 60% to above $7.20. The chart suggests that the scenario is likely to unfold if the price falls and maintains new momentum above the upper resistance of the channel pattern.