If there’s a Dino Alt you should watch out for this Alt season, it’s Morpheus.Network.
The token has some solid fundamentals and transformative use cases for supply chains. A dive into the technicals and charts reveals the token kickstarted an uptrend in mid-October.
MNW shot by 34% in the past 10 days and now stands at a robust $1.26. The gains aren’t surprising in the wake of building market momentum and impeccable returns MNW promises to its investors under the Masternode program.
MNW may shoot up by 5x in the coming months. What’s better than to check out its TA and fundamentals and explore the potential upside if MNW prices run wild?
Technical Analysis
MNW has been in a downtrend since it reached its ATH in March this year. It broke above the descending trendline in August and was range bound between $0.9-1.5 until mid-October, having failed to move above the market resistance level at $1.15.
It broke above the resistance on 23rd October, turning it into its support. MNW is in an uptrend but must break above the .236 Fib level at $1.35 to continue its momentum. With an RSI of 58 (neutral) and strong buy signals from all moving averages, MNW shows strong potential for a rally.
And since the uptrend has just started forming, this can be the best time for investors to put their bets on the token.
Fundamentals
Morpheus.Network, unlike so many hyped tokens, solves some of the biggest challenges supply chains face – lack of transparency, difficulty in forecasting demand, unexpected delays, rising risks, and increasing costs.
Morpheus.Network has worked with some of the biggest names, including Coke and Sobeys.
The high-profile clientele includes names such as Vitalcan, Coca-Cola, FCL, Gulftainer, Google, Microsoft, DHL, and others.
Governments in countries like Brazil, Uganda, and Argentina have mandated the platform’s use as a blockchain solution for Agribusiness.
The SaaS-based middleware platform automates supply chains by integrating emerging tech, such as blockchain, IoT, RFID, AI, and ML, with legacy systems.
It helps increase visibility and traceability while reducing costs and risks. And since the channels are tracked in real-time via Masternodes infrastructure, they can be more efficient and productive.
The platform will soon transition from EVM to the more scalable and decentralized ZK rollups network.
Morpheus.Network has one of the most successful masternode programs with staking returns up to 18%.
Tokenomics: MNW is the native token of the platform. Its total circulating supply stands at 47.8 tokens, with a fully diluted market cap of $53.1 million.
Masternode Program: The tokenholder can run masternodes for the network and participate in its testing and development. Its Alpha phase is over.
Under the Beta phase, any KYC-verified token holder with 1,800 MNW tokens is eligible for running nodes. Each participant can run a maximum of 200 nodes.
Closing Thoughts
MNW token is nurturing robust use cases and giving network participants great passive income opportunities.
One of the foremost crypto projects out there encountering real-world adoption, with its coveted clientele and partnerships is creating waves.
The next bull run will be led by utility and wider adoption, and Morpheus looks set for that.