Question 1

What determines the price movement of Magik (MAGIK)?

Accepted Answer

There are two schools of thought when it comes to determining the price of a cryptocurrency like Magik.
By way of intrinsic value: Intrinsic value is typically assessed through on-chain metrics, project metrics, and financial metrics of Magik, collectively known as <0>fundamental analysis. Factors such as the law of supply and demand, tokenomics, use case, project roadmap, and the regulatory and governance environment will influence the long-term value of Magik. By way of price action: <0>technical analysis , using candlestick chart patterns and indicators like MACD, RSI, and Bollinger Bands, forecasts the price of Magik on the basis that history tends to repeat itself.
Since candlestick charts reflect market sentiment, news announcements and community sentiment can also significantly influence the price action of Magik. Long-term investors usually favor fundamental analysis, while short-term traders often depend on technical analysis. In practice, combining both approaches can yield intriguing scenarios for Magik and the broader cryptocurrency market.

Question 2

What is the highest price of Magik price in history?

Accepted Answer

Magik achieved the all-time high of 4.43 in 2022-02-09, and is currently trading at 0.00683744.

Question 3

What is the lowest price of Magik price in history?

Accepted Answer

Magik reached its all-time low of  0.00476281 on 2025-02-03.

Question 4

What is the current market cap of Magik?

Accepted Answer

The current market cap of Magik is  , as  MAGIK is trading at the price of 0.00683744.

Question 5

How many Magik are there in the market?

Accepted Answer

There are currently  MAGIK circulating in the market. These Magik can be actively traded or used in the open market.

Question 6

What is the maximum supply of Magik?

Accepted Answer

The maximum supply of MAGIK is ∞ , which includes its circulating supply, locked or staked supply, and the supply that has yet to be mined, minted, or created.

Question 7

What is the fully diluted market cap (or FDV) of Magik?

Accepted Answer

At the moment, the fully diluted market cap, also called the fully diluted value (FDV) of Magik is 6421.245607091490644256. The FDV is calculated taking the assumption that all supply of Magik is circulation, multiplied by its current price of  0.00683744.

Question 8

What is the price prediction of Magik ?

Accepted Answer

Using an algorithm to automatically identify historical data trends, this <0>Magik price prediction adjusts its forecast from time to time based on current market conditions. With advanced machine learning, this prediction tool can help investors gauge market probabilities before making investment decisions.

Question 9

Is Magik a good investment?

Accepted Answer

Magik offers a good potential ROI due to its inherent volatility, which presents numerous profit opportunities. However, this volatility is a double-edged sword, making it suitable for investors with high risk tolerance and a strong financial position. It is crucial to remember that Magik and the broader crypto market are subject to extreme market conditions, regulatory changes, social media influence, and other unpredictable factors. Therefore, it is advisable to exercise risk management and <0>do your own research (DYOR) before investing in Magik.

Question 10

How to buy Magik?

Accepted Answer

You can buy Magik via Gate by following the steps on <0>how to buy MAGIK once you have funded your account.

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