MonaCoin first emerged in 2013 and had seen its price remain largely steady since. Its value dropped after the May 2022 crypto crash. So, what is MonaCoin, and will its price reach $2 again?
What is MonaCoin?
MonaCoin, which is listed on exchanges as MONA, was first set up as a cryptocurrency in 2013 and was the first digital coin to emerge out of Japan.
Still popular now, some stores in Japan even allow for purchases to be made using the cryptocurrency.
Being created just four years after Bitcoin, the founder of MonaCoin followed in the footsteps of the original crypto maker and kept their identity anonymous.
The creator of the coin is simply known as “Mr Watanabe” and their true name has never been confirmed.
MONA was among the first wave of meme coins to emerge, named after an internet cat.
It is built on the same blockchain as Litecoin but uses its own algorithm.
The total supply of MonaCoin is set at 1.0512 million.
MonaCoin’s price has remained largely close $2 over its nine year history and did not surpass $1 until 2017.
It briefly traded for $16.61 in December 2017 before then seeing its price plunge right back down.
After the crypto crash of May 2022, its price dropped to $0.48.
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MonaCoin price prediction 2022, 2024, 2024 and 2025
It could be some time before MonaCoin recovers to $2.
According to PricePrediction, by the end of 2022 MonaCoin will be worth a price of $0.52. It is set to see significant growth between then and 2025 but remain under the $2 mark.
The analysts predict that at the end of 2023 MonaCoin will be worth $0.76, $1.13 by the end of 2024, and $1.56 by the end of 2025.
Similar growth is forecast by DigitalCoinPrice. They believe MonaCoin will be worth $0.60 by the end of 2022, $1.01 by the end of 2023, $1.45 by the end of 2024, and $1.86 by the end of 2025.
Where to buy MonaCoin
In Japan, MonaCoin can be purchased via “smart ATMs”. For everyone else, you can buy it online.
MonaCoin is listed on a total of seven cryptocurrency exchanges to date.
It can be bought on Coinex, FinexBox, Bitbank, Zaif, Bittrex, ProBit Exchange and Crex24.
None of the exchanges accept fiat currency. It means that you can only buy MonaCoin by purchasing cryptocurrency on another exchange before then trading it in for the coin.
How risky is investing in cryptocurrency?
Cryptocurrencies are extremely volatile and can see large rises and falls in price.
You should not invest in crypto unless you have carried out your own research and are aware of the risks.
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