Why Maker’s Price Surge is the Most Absurd Thing You’ll Read Today! 😂

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So, let me get this straight. Maker (MKR) price just skyrocketed over 44% in a week? I mean, come on! It’s like watching a bunch of whales cash out while the rest of us are just sitting here, scratching our heads. And yet, the DeFi token is holding steady. What’s going on? Is there some secret sauce we don’t know about? 🤔

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Maker derivatives and on-chain analysis

Sky Protocol, formerly known as Maker, is apparently the new kid on the block. It’s gained over 44% in value, and I’m just here wondering if I missed the memo. Derivatives data from Coinglass shows a spike in Open Interest. I mean, who knew? It’s like a party and everyone’s invited! 🎉

And get this, MKR OI is sitting at a whopping $116.85 million. That’s a lot of zeros! 💰

Assets locked in MKR have surged to $5.675 billion. I guess people really love their tokens, huh? The rebranding to Sky Protocol is apparently working wonders. Who knew a name change could do so much? 🤷‍♂️

But wait, there’s more! Santiment data shows traders are realizing losses. It’s like a sad little party where everyone’s leaving early. But hey, maybe this is a sign of a comeback? Who knows! 📉

And look at this! MKR’s daily active addresses are peaking. It’s like a rollercoaster ride, and I’m just trying to keep my lunch down. 🎢

So, 30% of wallet addresses are sitting on unrealized losses. Meanwhile, 65.55% are sitting pretty with unrealized gains. It’s like a game of musical chairs, and I’m not sure who’s going to end up with the last seat! 🎶

Maker (MKR) weekly price forecast

Maker broke out of its downward trend on February 12. Now it’s trading at $1,473. It’s like watching a soap opera unfold. Will it hit resistance at $1,632? Will it crash? Stay tuned! 📺

Two key indicators are flashing bullish signs. But let’s be real, it’s like trying to read tea leaves at this point. MACD and RSI are doing their thing, but who knows what that really means? ☕

And here’s the kicker: even as whales cash out, MKR is holding steady. It’s like they’re trying to sell you a used car, but you’re just not buying it! 🚗

One wallet, inveteratus.eth, sold 1,230 MKR for a tidy profit. I mean, good for them! But what about the rest of us? 😩

A smart whale has cashed out as the $MKR price surges ~20%!

In the past 8 hours, whale 0x637 (“inveteratus.eth”) sold all 1,230 $MKR for 1.78M $USDC at ~$1,448, securing a $418K profit (+30.6%) in less than a month.

Back in April 202

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2025-02-22 05:29