I think we will see some drop in price (correction) in coming days. There is good thread to read on Monaco reddit page. Autor says that Monaco is overvalued right now.
He said overvalued, other peoples the undervalued. i dont really care what other peoples say.
They are just 9Mio coins in circulation. I dont see any reason why Monaco should be overvalued
Frankly this Monaco overvaluation is pure speculative hype. They have no working app, no card roll outs, they are not even licensed to distribute their own cards nor have partnered with anyone. The price is at its limit. Tenx has a working app, card roll outs, and are underway to becoming licensed to distribute their own cards. sorry PAY token by Tenx is it.
There's plenty of room for MCO, TKN, PAY as all are serving the same purpose, FIAT-ALTS instant exchange on the smartphone.
As such business model focuses on serving the consumer (5billion active consumers), it will keep thriving. Old, and newcomers. The idea here, as I have explained a few rows above, is not to be a bag holder but to make as much money as you can out of these "speculative" trends. Right now, as predicted above, smart money is moving fast out of MCO into TKN. It is not whales cashing out but re-investing profits. I've said above that I have moved 80% of my MCO into TKN when TKN was $1.45 and MCO was 24.50. It is easier to double or triple profits at lower prices!
I've since doubled my money while MCO smart money keeps moving to TKN. The trend will continue until the two will even out, and there is still room for growth in MCO given the upcoming launch. However, do your own research not on the whitepaper and market trends but also about status consumption (Monaco brand) scarcity value (more tokens = less value as it is the case with PAY).
Remember, if you are not a long term investor, don't be a bag holder. There's no room for love here just because you've made some money with coin A or B. Be smart, be ruthless, be cold and make money on these trends, now when it happening.
Good luck to you all.