Maker (MKR) Dips 276.49% in 24 Hours Amid Market Volatility

On AUG 28 2025, Maker (MKR) experienced a dramatic decline of 276.49% in a 24-hour period, with the token price falling to $63200. Over the past week, MKR has declined by 245.98%, and in the last month, it has dropped by an even sharper 2071.65%. Despite the recent drop, MKR has shown resilience over the past year, having risen by 1993.23%. The token’s steep price correction has drawn attention from traders and analysts, raising questions about its near-term trajectory and the broader market sentiment.

MKR’s recent performance reflects broader market turbulence, with the token aligning with broader crypto market corrections. The token’s steep decline comes amid ongoing uncertainty in the crypto space, as liquidity constraints and shifting risk appetite have pressured high-beta assets. Analysts project that MKR may continue to face downward pressure in the short term unless there is a material catalyst to restore investor confidence.

Technical indicators suggest a bearish bias in the immediate term. The RSI has moved into oversold territory, while the moving average convergence divergence (MACD) line remains negative and trending downward. These readings indicate that the sell-side momentum has yet to show signs of exhaustion. Traders are monitoring key support levels for potential bounces, though a sustained recovery may require a shift in broader market sentiment and a reassessment of risk appetite.

MKR’s chart has seen a clear breakdown from recent resistance levels, with price action forming a bearish continuation pattern. The 50-day and 200-day moving averages have diverged, with the shorter-term average now well below the longer-term trend. This divergence often precedes extended downturns. The recent candlestick pattern includes a long bearish shadow, reinforcing the perception of weakness in the short term.

Backtest Hypothesis

A proposed backtesting strategy aims to assess MKR’s performance following sharp price drops. The approach involves identifying days when MKR falls by 10% or more from the prior close and entering a position at the next day’s open. The position is held for five trading days, with performance metrics calculated at the end of the period. This hypothesis seeks to determine whether such a strategy would have been profitable historically and whether it could offer insights for future decision-making.

However, the system has not recognized the symbol "MKR" in its price-data library, making it impossible to run the back-test without additional information. To proceed, the exact market or symbol must be confirmed, such as MKR-USD or MKRUSDT on a specific exchange. Alternatively, a custom price series in CSV or JSON format could be provided to enable the back-test. Once a recognized symbol or file is received, the back-test will automatically execute from January 1, 2022, to the present, capturing all relevant data points and generating a performance report with interactive visualizations.