MWX Token (MWXT) concluded the week with a notable increase, reaching $0.2051 after achieving 45.49% gains over two consecutive weeks. Chart data indicates a significant breakout from the prior weekly low of $0.1408. MWXT briefly tested levels near $0.22 before experiencing a slight pullback to its current trading range. The presence of two consecutive bullish candles suggests a resurgence of interest following a period of volatility experienced in late November.
Key Market Metrics for MWXT
According to available data, MWXT currently holds a market cap of $8.98 million. The daily trading volume stands at $38.39 thousand, with a circulating supply of 43.8 million MWXT. Despite a 17% decrease in 24-hour trading volume, the price of MWXT has continued its upward trajectory. This suggests that a smaller number of high-value transactions may have been the primary drivers behind the week's price appreciation.
Valuation and Supply Dynamics
Further indicators, including a fully diluted valuation (FDV) of $205.16 million and an unlocked market cap of $137.46 million, highlight that the token's overall valuation is still heavily influenced by long-term supply fundamentals. A significant aspect of the token's supply distribution is the concentration among top holders; data reveals that the top 10 holders collectively control 95.62% of the total token supply. This high degree of concentration has the potential to amplify both upward and downward price movements, depending on the trading activity of these large wallets.
Technical Outlook and Future Prospects
MWXT's recent advance above the $0.20 resistance zone is being recognized as an important structural development for mid-term traders. Historically, price movements around significant round-number thresholds often reflect shifts in market sentiment and the reallocation of liquidity. Should MWXT manage to maintain its stability above this critical level, it could potentially establish a new accumulation range as the month progresses deeper into December.
The coming weeks will be crucial in determining whether the token can sustain its current upward momentum or if the observed decrease in trading volume will indicate a cooling-off period following the recent surge in price.