The Consumer Price Index (CPI) figure for November 2022 showed cooling inflation for the fifth consecutive month, as the year-on-year inflation rate has fallen from 9.1% in June to 7.1% in November.
This has had an effect on some major crypto tokens, including Solana (SOL), Dogecoin (DOGE), and Metacade (MCADE). Read on to find out more.
A cooling inflation rate: What is the CPI, and how has it impacted the crypto markets?
The CPI is a single percentage figure that measures the overall change in prices for a selection of goods and services. It is released on a monthly basis and measures the average change in prices over the previous 12 months.
News of cooling inflation had a positive impact on the crypto markets as DOGE, SOL, and MCADE saw a price reaction. SOL rapidly rose 17.4% after the CPI data was released, while DOGE rose 9.6%. MCADE, a brand-new GameFi platform that recently announced its token presale, completely sold out of its first investment round.
What is Metacade (MCADE)?
Metacade is the first community-driven arcade, offering a selection of classic arcade-style titles and various avenues for earning an income paid in crypto. The platform aims to become a central hub for Web3 users, introducing broad utility for token holders and offering exclusive job opportunities to the community.
How does MCADE work?
The on-chain arcade will offer casual and competitive gamers a range of different Play2Earn games, as well as Compete2Earn tournaments in which players can test out their skills head-to-head. Compete2Earn will involve paid entry games in which the winners can access major MCADE prize pools.
Metacade will connect users with paid roles at various Web3 projects through its Work2Earn feature. Jobs can include part-time gig work, freelance positions, or even beta testing roles that enable Metacade’s community to play new blockchain games before they are officially released. Beta testers will earn MCADE tokens for providing feedback to development teams, helping to fix bugs, and making improvements before a new game goes live.
The Create2Earn feature will reward the community for contributing to the platform in several ways. Whether interacting with other users, sharing game reviews, or posting the latest GameFi alpha, Metacade users can earn MCADE tokens for the information they share on the platform.
Can MCADE reach $1 in 2023?
In the wake of recent news about cooling inflation, the MCADE token presale has been a major success. Investors bought 140,000,000 MCADE in just over 3 weeks, which raised $1.12 million for the new GameFi platform. Many investors have been impressed with Metacade’s advanced earning mechanics, which are expected to attract a buzzing decentralized community over time.
The price of MCADE is expected to skyrocket at the conclusion of the presale event, with experts predicting a 50x gain during 2023. The token is currently underpriced at the $0.01 level, and cooling inflation means that macroeconomic conditions are improving. MCADE looks like one of the biggest investment opportunities during its presale, as major gains are on the horizon for MCADE.
What is Dogecoin (DOGE)?
Dogecoin is a popular meme coin that was initially created as a joke. Since then, DOGE has risen to prominence and become a fun entry point for new blockchain users – but the token has historically lacked any kind of utility.
In recent years, DOGE has become an increasingly popular method of sending international payments. The token has been used to tip content creators on 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.
DOGE Price Prediction 2023
DOGE remains a popular cryptocurrency and is currently a top 10 token by market capitalization. DOGE could reach $0.20 during 2023 but faces strong resistance at that price level.
What is Solana (SOL)?
Solana is a Layer 1 blockchain that combines two methods of reaching network consensus in a unique protocol – namely, proof-of-stake and proof-of-history. The blockchain is home to many decentralized applications (dApps) and can process a high number of transactions at a low cost to its users.
SOL price prediction 2023
SOL dipped over 70% in November because FTX and Alameda were major backers of the ecosystem. Both companies announced bankruptcy, which caused the price of SOL to plummet.
However, news of cooling inflation saw a recovery for SOL, and the token is expected to gain momentum during 2023. The Solana project continues to build, and SOL could reach $75 once again – a 7x rise from the current price level.
MCADE set to skyrocket in 2023 with cooling inflation
Macroeconomic sentiment has shifted positively due to the news of cooling inflation. Metacade is well-positioned, as the variety of decentralized earning opportunities are expected to boost its valuation during 2023.
The price of MCADE will rise from $0.008 to $0.02 over the course of the presale, with each funding round expected to sell out quickly. Investors have a limited time to get involved as it has been highlighted as one of the best investment opportunities of the year. It is certainly a great addition to any investment portfolio.
You can buy DOGE and SOL at eToro here.You can participate in the Metacade presale here.