Magic Eden (ME) is experiencing a resurgence, reaching a price of 4 USD, up from its previous lows. This is a significant recovery after the token had hit an all-time HIGH of 13.2 USD before undergoing market-induced corrections.
Trading volume for ME exploded by 130%, hitting 1.17 billion USD. This increase exemplifies renewed investor interest as the market sentiment transitions from bearish to bullish, with expectations of a prosperous NFT season fueling Optimism.
Experts speculate that ME’s price could rise to 50 USD with increasing demand for NFTs. However, the token would need to increase by 70-75% to return to its previous HIGH, with technical indicators giving mixed signals on future performance.