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Monero did reach a peak in January 2018 at $494 but it’s in a decline since that time, but you have to wonder what causes these price changes. Many believe that it is the rising popularity of Monero in the illegal trade market- because of the identity and transaction privacy offered by Monero. A lot of factors can contribute to the price of Monero though, but the price of Monero and other coins usually relates to new technology developments and media hype.