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Despite making significant advancements and announcements within its ecosystem, <a href="https://cryptoticker.io/en/token/iota">IOTA's price</a> has plummeted sharply over the past few months. Yet, many are wondering, how high will IOTA price go?. Let's take a look at this <a href="https://cryptoticker.io/en/prediction/iota-price-prediction">IOTA price prediction</a> article in more detail.
<h2 id="how-has-the-iota-price-moved-recently">How has the IOTA Price Moved Recently?</h2>
<figure class="image">
 <img style="aspect-ratio:1815/812;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/IOTAUSD_2024_06_14_16_10_18_64b9479aae.png" alt="IOTA Price " width="1815" height="812">
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 IOTA/USD Daily Chart- <a href="https://www.tradingview.com/symbols/IOTAUSD/?aff_id=127958">TradingView</a>
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Today, <a href="https://cryptoticker.io/en/token/iota">IOTA is priced at $0.198137</a> with a 24-hour trading volume of $24.57 million. Its market cap stands at $647.47 million, giving it a market dominance of 0.03%. Over the past 24 hours, the MIOTA price has decreased by 0.65%.
IOTA reached its peak price of $5.54 on December 6, 2017. Its lowest recorded price was $0.077481 on March 13, 2020, which is also its lowest since the all-time high. Since then, the highest price IOTA has reached is $2.68. Currently, the sentiment around IOTA's price prediction is bearish, despite the Fear &amp; Greed Index showing a level of 74 (Greed).
IOTA has a circulating supply of 3.27 billion MIOTA, out of a maximum supply of 4.60 billion MIOTA. The yearly supply inflation rate is 17.57%, meaning 488.25 million MIOTA were created in the past year.
<h2 id="why-is-iota-price-down">Why is IOTA Price Down?</h2>
<a href="https://cryptoticker.io/en/token/iota">IOTA's recent price decline</a> can be attributed mainly to a broader market downturn, significantly influenced by the performance of Bitcoin (BTC). When Bitcoin experiences substantial price fluctuations, it often sets the trend for the entire cryptocurrency market. Given Bitcoin's dominant position, its downward movements can lead to reduced investor confidence and a subsequent sell-off across various cryptocurrencies, including IOTA.
In addition to the influence of Bitcoin, investor sentiment and behavior play crucial roles in the market dynamics. As market conditions become more volatile or uncertain, investors often make decisions to minimize their risks, which can include liquidating their holdings in alternative cryptocurrencies like IOTA. This behavior amplifies the price drop, as increased selling pressure drives prices further down.
Therefore, while IOTA has made several significant advancements and ecosystem announcements, these positive developments have not been enough to counteract the broader market forces and investor reactions that have led to its recent price decline.
<h2 id="how-high-will-iota-price-go">How high will IOTA Price Go?</h2>
Recently, IOTA became the first in its industry to register with the Abu Dhabi Global Market. Shortly after, it launched its EVM platform, allowing developers to create decentralized applications on its network.
Despite these strides, IOTA's token has faltered due to doubts about the network's viability. ShimmerEVM, IOTA’s test network, has only attracted seven DeFi developers and holds a total value locked (TVL) of $4.57 million. Moreover, the competition is intensifying with platforms like Base, Blast, and Arbitrum gaining traction.
<a href="https://cryptoticker.io/en/prediction/iota-price-prediction">Predicting the future price of IOTA</a> involves considering both its recent performance and broader market conditions. Over the past year, IOTA's price has increased by 31% and is currently trading above its 200-day simple moving average, indicating a positive trend. Additionally, IOTA has high liquidity based on its market cap, suggesting a stable market presence.
However, there are several challenges to consider. Despite its growth, IOTA has been outperformed by 76% of the top 100 crypto assets over the past year and has also lagged behind Bitcoin and Ethereum. Furthermore, it has only experienced 14 green days in the last 30 days (47%), indicating some volatility and instability.
Moreover, IOTA is still down 96% from its all-time high, reflecting the long-term decline since its peak in December 2017. With a yearly inflation rate of 17.57%, new tokens entering the market could also impact its price growth.
Given these factors, while IOTA has shown some positive signs, its future price growth may be limited by competition, market volatility, and its inflation rate. If the network can attract more developers and users, and the broader market remains favorable, there is potential for price increases. However, achieving or surpassing previous highs may be challenging without significant adoption and innovation within its ecosystem.

How High Will IOTA Price Go?

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