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MegaETH’s massively oversubscribed initial coin offering has resulted in a “hypothetical” FDV of $7 billion, the team said.
💡 DMK Insight
MegaETH’s ICO hype is pushing ETH to new heights, but here’s the catch: oversubscription doesn’t guarantee sustainability. With ETH currently at $4,111.93, traders should be cautious. The $7 billion FDV suggests high expectations, but it also raises questions about valuation and market sentiment. If the excitement fades, we could see a sharp correction. Look for key support around the $4,000 mark; a break below that could trigger a sell-off. Additionally, keep an eye on related assets like DeFi tokens, which may react to ETH’s volatility. The real story is whether this hype translates into real demand or if it’s just a bubble waiting to burst.
📮 Takeaway
Watch for ETH to hold above $4,000; a drop below could signal a significant correction amid the MegaETH hype.
