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Decentraland to US DollarWith NFTs as the hot topic in today’s cryptoverse, coins associated with non-fungible tokens are getting a lot of attention from investors. The biggest NFT coin by market cap is MANA, the token associated with the Decentraland platform.

From the Decentraland white paper

‘Decentraland: A blockchain-based virtual world’ is 15 pages long and outlines the “philosophical underpinnings, technical foundations and economic mechanisms of Decentraland”.

According to the white paper: “Decentraland provides an infrastructure to support a shared virtual world, also known as a metaverse, where users can create, experience and monetise content and applications.”

The document goes on to say: “Land in Decentraland is permanently owned by the community, giving them full control over their creations” – an appealing prospect for both gamers and potential investors.

First, though, we should study the MANA price history. While past performance is no guaranteed indicator of future results, it can help give us some context for a Decentraland price prediction.

Decentraland price history: Boom times

When MANA started trading in 2017, its price was low, but not negligible. For instance, on 21 September of that year, it traded at just under $0.02 and, for most of the next three years or so, it stayed between $0.01 and about $0.10. Although it reached an all-time low of $0.007883 on 13 October 2017, it soon recovered. As we said, it spent the next few years doing very little and rarely garnering much attention, closing 2020 at $0.07825.

Even though the opening few months of 2021 were a real boom time for cryptocurrency, Decentraland was comparatively late to the party. For instance, the first week or so saw it making modest gains, although it did break through the $0.10 barrier on 7 January, when it closed up at $0.1277. This was, ultimately, a spur to action and it soon shot up, hitting an intra-month high of $0.2016 on 23 January. It then floated back down and closed 31 January at $0.1547, a monthly rise of more than 97%.

February was another period of encouraging growth. The middle of the month saw it spending a respectable length of time over the $0.30 mark, with a monthly high of $0.3671 on 13 February. However, this peak was followed by a slow decline and it finished the month at $0.2362. This was up by more than 52% on a monthly basis, but down more than 35% from the monthly high.

March, too, saw the growth theme carry on in a big way. A really notable day for the Decentraland (MANA) price was 13 March. This went from an opening of $0.6621, already a really positive score, to an intraday high of $1.17, a rise of 76% in mere hours. Although it dropped back to close the day at $0.9692, the following day saw it reach a monthly high of $1.19. There was some fallback from that price, though, but while its close of $1.02 was down more than 13% from where it had been earlier that day, it was still up by more than 336% from a month earlier.

If March was remarkable, then April was strong and solid – but, in comparison to the previous month, it was much less spectacular. At first, it looked as though the good times would not last, with a monthly low of $0.8399 on 7 April, but the price soon recovered and the end of the month saw a record-breaking $1.55 on 28 and 29 April, before settling down to close April at $1.49, a monthly rise of just over 44%. Good, but nothing like the March explosion.

MANA price history: decline and rebirth

Things started to crash in May. The token’s price was already going down by the time the Great Crypto Day Crash of 19 May took place. Before the crash, the price stood at an intraday high of $1.16 to an intraday low of $0.5051, which meant it more than halved in a matter of hours. While there was some relative recovery to close the day at $0.7803, a monthly close of $0.8507 meant it lost just under 43% of its value over the course of May.

June and July were both pretty poor for MANA. The coin closed out June at $0.58, down nearly 32% from the end of May and, while it recovered by 24% to finish July at $0.7192, it was still down nearly 8% on a two-month basis.

August saw some more promising growth and it managed to close out the month up a little under 20% at $0.9432. September initially looked encouraging, with the price breaking through the $1 barrier for the first time since May, when it reached an intraday high of $1.06 on 3 September. Despite it hitting a monthly high of $1.08 on 5 and 6 September, things went back downhill for MANA, and it ended the month at $0.6882, down a little over 27% from August’s close.

By now, it may have looked as though getting back to where it had been in the middle of May, let alone what it had achieved in March and April, was a forlorn hope for investors. But their luck was about to change in a big way. Initially, though, it seemed to be more of a modest recovery, with much of October seeing MANA hover above $0.70, with some forays above $0.80. At the end of the month, however, it rocketed up. It started 29 October at an already encouraging $0.9259 before smashing its way to an intraday high of $1.48, a rise of just under 60%. The next day was even more astonishing, with it zooming to an all-time high of $4.69, up more than 200% from the previous day’s high. While this sort of super-activity was to prove unsustainable, the coin’s October close of $2.89 was a monthly rise just shy of 320%.

November saw some considerable encouragement, at least when compared with the lull of June through to mid-October, with it consistently topping $3 from 13 November and hovering somewhere between $3.90 and $4 on the afternoon of 19 November. However, the bears have been dominating the market since November, and after a difficult fourth quarter in 2021 for crypto across the board, by 1 January 2022, the token was holding around the $3.30 mark.

The launch of the Australian Open in Decentraland on 17 January contributed to a massive gain for the coin over the course of a difficult new year, hinting toward a Decentraland price breakout. The price surged to $3.48 on 8 February.

On 15 February, JP Morgan became the first lender to arrive in the metaverse, having opened a lounge in Decentraland. At the time of writing on 16 February, the coin was currently trading at $3.18.

MANA price prediction

Now, with that in mind, let’s take a look at the different kinds of Decentraland forecasts. What we do need to mention at this stage is that predictions are very often wrong. In terms of long-term crypto predictions, many forecasts are made via an algorithm and change on a regular basis.

Firstly, WalletInvestor suggests that MANA will be worth $5.34 in a year’s time and around $15.64 in five years.

Meanwhile, TechNewsLeader forecasts that, provided there are no sudden jolts to the market, the token can sustain its strong position as a major attraction among many investors and traders. Providing investor confidence is maintained, there is a likelihood that the token will reach a maximum value of $4.72 in 2022. The Decentraland price prediction for 2025 is that the MANA token may reach a maximum price of $16.79 with a minimum price level of $14.35.

Next, gov.capital’s Decentraland price prediction for 2022 sees average highs of $5.00 in November. The site suggests that one year from now the coin should be worth around $4.16, and in five years’ time could be worth $14.29.

A Decentraland price prediction for 2030 comes from Priceprediction.net, suggesting the coin will reach an average price of $93.93 for the year. Another 2030 prediction from TechNewsLeader suggests a more optimistic $100.27.

One thing to note, though. At present, the fortunes of the Decentraland programme and, by extension, the Decentraland (MANA) price are very much tied into how the market for NFTs is doing. This means that if we do see a drop off in NFTs, or even if current Decentraland users migrate en masse to another platform, fewer people using the system could see a significant drop in MANA’s value. That said, Decentraland was not specifically designed with NFTs in mind, so it could be that if the hypothetical situation described above does take place, the system could find another usage. Nevertheless, it is something we have to keep in mind when considering the implications of a bullish MANA price prediction.