The Sandbox (SAND), one of the standard Metaverse tokens within the crypto market, has began the yr on a formidable observe. Since January 2023, the coin’s worth has maintained a gradual upward development. Regardless of minor fluctuations, SAND is recording attainable bullish patterns of as much as 19% within the final seven days. However is that this development sustainable? Will SAND’s worth stay excessive or proceed to rise sooner or later? Right here’s a SAND worth prediction article that can assist you analyze the present prospects.
How Sand Token Works
SAND is the native token of the favored crypto gaming title, The Sandbox. This metaverse-themed recreation was launched in 2011 with the only function of offering gamers with an opportunity to create their very own gaming experiences.
Within the recreation, gamers can purchase land, create occasions, assemble buildings, design different property, and even invite different gamers to take part of their in-game experiences. SAND is a essential piece to reaching this setup.
This ERC-20 token permits The Sandbox’s gamers to purchase or lease LAND, which is essentially the most essential factor wanted to begin the sport. Land is a digital parcel of land that’s distinctive and registered on the blockchain as a non-fungible token (NFT). Sandbox gamers use SAND to make funds and transactions with a purpose to buy LAND and different supplies within the recreation. This makes SAND a extremely valued token and one that draws loads of investor consideration.
Apart from shopping for LAND and different in-game property, SAND gives its holders an opportunity to earn rewards for staking the coin. SAND additionally serves as the sport’s governance token. On this case, the coin permits holders to vote in favor of or in opposition to the main adjustments that function in The Sandbox’s recreation improvement course of.
SAND Basic Evaluation
The expansion and recognition of the metaverse are spreading quickly amongst crypto lovers. With this, increasingly more individuals are making an attempt out crypto-based video games like The Sandbox and embracing the profitable incomes potential they provide. This locations SAND in a really distinctive place. As a metaverse-related crypto gaming asset, this coin’s worth is about for higher days.
— WhaleAnalytica – Metaverse Bot 🤖 (@metadatabot) January 22, 2023
The Sandbox has additionally introduced numerous new partnerships with manufacturers which might be positive to impression the coin’s worth positively within the close to future. All these are good indicators that SAND may simply begin to expertise an upward development.
🤝 @AMTDGroup and The Sandbox announce the beginning of their official long-term partnership for the centenary model @lofficielparis, to open its cultural and style hub and improve East meets West cultural exchanges. pic.twitter.com/Mmrnj7V3uB
— The Sandbox (@TheSandboxGame) January 19, 2023
SAND Technical Evaluation
SAND’s worth dropped barely at the moment, which is anticipated due to the turbulence within the crypto markets. The coin’s worth dropped 0.1%, leaving it at a worth of $0.8192 and a 24-hour buying and selling quantity of $307,190,453 with a circulating provide of 1.6 billion and a complete provide of three,000,000,000 on the time of this writing.
Based on the chart above, SAND has been experiencing a big falling wedge for the final eight months, displaying very bearish indicators all of the whereas. Merchants sometimes look ahead to relaxation after such a breakout to verify that the breakout is real. Nevertheless, not too long ago, SAND broke out of the $0.06 falling wedge, retested the degrees, and continued the upward motion. The truth that it additionally crossed above the 50-day shifting common exhibits very sturdy bullish indicators for buyers to get into the undertaking.
SAND Worth Prediction
Based on the take-profit (TP) mechanism of falling wedges, our SAND worth forecast signifies that it’s going to rise by round 162% within the coming weeks. This is able to set its worth at $1.8. On its journey to the goal worth, there are a couple of resistance factors it has to beat. If it might overcome the primary resistance degree at $1 and later at $1.4, then SAND will run all the best way to our goal worth.
With this anticipated worth forecast, now’s one of the best time to get into SAND earlier than it’s too late.
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