MKR MakerDAO price didn't pick up with the activity

In the chart, we can see that the active wallets can be a leading indicator for the price of a crypto.

This is similar to Metcalfe's Law, which measures a network's value. The law shows that the value of a network grows exponentially as the number of its users increases.

We can see that recently, the number of MKR addresses increased significantly but the price didn't increase accordingly.

This might be a bullish signal for MRK.