The SAND price has been in a nine month downtrend, down 18% this month and still with a market cap of $1.5 billion – room to crash further.
The Sandbox Crypto Price Prediction
Since its all time high of just under $8.50 in November 2021, the SAND price has corrected around 91% to as low as $0.73 in June 2022.
SAND bounced as high as $1.50 since then but is now trading back at around $1 heading into September 2022 – historically a bad month for cryptocurrency.
Support Levels
A horizontal support zone could be drawn on The Sandbox price chart from around $0.62 – $0.80, based on high timeframe monthly candle closes from last year. SAND token has already tested that area once with a wick, as shown above.
With a week left in August the monthly candle will close as a bearish engulfing candle pattern if it closes under $1.12 – last month’s open. That show of weakness could see the support area retested again.
The October 2021 open was $0.67, the candle that led to the SAND price breaking out, hitting $2 and then starting its explosive bull run to over $8. If holders that bought the top capitulate price could tag that level again.
<1,000 Active Players
Last month the following tweet was widely shared, pointing out The Sandbox only has 1,180 daily active users (DAUs) i.e. players interacting with The Sandbox ecosystem and its play to earn game.
Daily Active users:
The Sandbox: 1,180
Decentraland 978
Fortnite: 30M
Roblox: 37M
Valorant 800k
Second Life: 200k— Justin Taylor (@TheSmarmyBum) July 10, 2022
Since then that has dropped to under 1,000 players – according to DappRadar its users have dropped 20% in the last 30 days.
Both on fundamental analysis and technical analysis, the price of SAND looks bearish and set to retrace to the $0.60 area, or even a flash crash to $0.50.
Altcoins often go down 90% then 90% again, and The Sandbox is still a top 40 crypto by market capitalization after its correction this year so its upside is limited.
SAND Alternative – Tamadoge
Investing in a crypto presale has more potential upside than buying an asset that has already pumped, finished its bull cycle and entered a bull cycle. Cryptocurrencies tend to trend strongly in both directions, up or down – going higher than people think, and lower.
Ethereum for example, seen as the best altcoin, corrected 95% from $1440 to $81 and took three years to set new highs – from January 2018 to Jan 2021.
A similar cycle for the SAND price would be to hit $0.42 – not even the 2021 lows – and set new highs in late 2023 shortly before the next Bitcoin halving.
Tamadoge is an upcoming P2E game where players mint virtual pets as NFTs, feed and train them then do battle against other on its Tamadoge Battle app for rewards tokens (TAMA).
The Sandbox vs Tamadoge
TAMA has a 2 billion maximum supply (compared to the 3 billion total supply of The Sandbox) and a presale price currently around $0.02 ($0.01 during the beta sale).
At a TAMA token price of $1 its market cap would be $1 billion, less than The Sandbox currently with a player base only in the hundreds, and less than Decentraland – which has a slightly higher market cap than The Sandbox and even fewer daily players.
A 50x gain on TAMA is potentially more realistic than even a 10x on The Sandbox – if the SAND price were to break out to new highs and hit $10 its market cap would then put SAND in the top 10 cryptos, which would be hard to achieve.
Read more about the Tamadoge project and take part in the presale at buy.tamadoge.io. At the time of writing that has raised 7.5 million USDT, almost half of its target.
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