Maker Is Seen Down to $1000
Maker (MKR) is down 3.2% this week to $1,180, recovering from a low of $1,114 on Monday—its weakest level since 5 November, when the altcoin initiated a 116% rally following Donald Trump’s election victory. The recent decline has been partly driven by Trump's announcement of tariffs on Colombia and plans to introduce additional tariffs on chips, pharmaceuticals, and metals imported into the United States.
Another key factor weighing on MKR is the emergence of DeepSeek AI, which reportedly runs on cheaper chips. This has undermined the valuations of major chip manufacturers like Nvidia and prominent AI developers, leading to a 5.2% drop in the Nasdaq 100 on Monday. The stock market's downturn has exerted additional pressure on the broader crypto market, including Maker.
Although a further significant decline in the stock market seems unlikely, Maker’s price remains vulnerable and could fall to $1,000. Even if market conditions stabilise, MKR is unlikely to reverse its current downward trend in the short term.
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