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The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures

The Sandbox (SAND) has lately attracted interest with opposing opinions on its potential price movement. Although some analysts believe there is room for large increases, short-term data point to a more wary stance.

Though long-term estimates show a different, more hopeful picture, recent studies hint to a likely price decline in the next weeks. What then is the actual SAND story, and should investors act right now or hold off?

Crypto price prediction website CoinCodex says, by mid-October 2024, the total value of The Sandbox should have gone down by 5.45% to $0.232674. Technical indicators are rather unfavorable. If indeed, as it’s turned out today,

The Fear & Greed Index is neutral at 51, then there is definitely no sigh of quick recovery in sight either. SAND has 63% of the green days over the last month; however, its volatility rate is 6.27%, which speaks for continuous instability.

Transient Issues

Short term, SAND does not look amazing. The technical perspective of things so far is a bit conservative, meaning that now may not be the best time to buy. While SAND has recently been able to display resilience with a decent number of green days, the overall vibe is trending down. Waiting for more favorable conditions could be a preferable plan for people trying to make rapid profits.

Some investors are hanging on despite the great volatility, thinking the market would shortly flip. Nothing new about volatility in cryptocurrencies; The Sandbox has seen such storms previously. This does not mean, though, SAND is impervious to more declines. Should the price projection be accurate, a slide to $0.232674 could attract more short-term market activity.

Long-Term Positive Outcomes

Unlike the gloomy short-term projection, some analysts—like Alan Santana—are showing a more optimistic long-term stance. Santana speculates that SAND might be in a critical accumulation phase with great upside possibility.

He claims that although recent volatility has caused fluctuations, the coin has regularly reached lower lows since July 2021, pointing an overall increasing trend. Moreover, he thinks that this would be a great opportunity for long-term investors to build SAND at the present low price.

Santana has lofty long-term SAND projection. From its present price, he projects a price goal of $22.22, which offers a whopping 8,600% return on investment. Apart from this long-term objective, one has to take short-term figure into account. Santana projects a 415% rise not too far off, then a mid-term target of 1,111%. Investors could make significant gains even before the long-term goal is met.

Market Change To Bullish?

The whole cryptocurrency sector fought to start a bull run in 2023. SAND, like several cryptocurrencies, fell to their lowest levels in recent months. Some observers believe the market is gradually turning bullish. If this changes, The Sandbox may benefit from a market resurgence.

The Sandbox is currently showing $0.2532 and declining some 0.27% over the past day. Long-term promise is here–even so with a few short-term hazards–because there are some unfavorable warnings at the moment that investors will have to weigh against the more hopeful view for 2025 and going forward.

Featured image from Phemex, chart from TradingView

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Decentraland (MANA) Leads Crypto Market Gains, Here’s Why

Decentraland (MANA) is currently ahead of the rest of the crypto market after seeing almost double-digit gains in the last day. This incredible recovery comes at a time when the broader crypto market is following in the steps of Bitcoin and shedding most of its first quarter’s gains. So what could be driving the price increase of MANA?

Rumors Of Apple Metaverse Circulate

The rumors about Apple’s very own metaverse first started circulating on Monday when a Twitter user made a post about it. In the tweet, Idi Wertheimer pointed to the fact that tech giant Apple was allegedly launching its own mixed-reality headset. As a result, Wertheimer believes that metaverse coins are going to start pumping based on this news.

Rumors about Apple working on its own metaverse didn’t just start now as it has since been speculated that the company would build one to compete with Meta’s (formerly Facebook) Oculus series. However, Apple has never confirmed nor denied if it was working on its own metaverse.

Research on our end turned up an article from a website called Tom’s Guide which points toward the tech giant’s plans to enter the virtual and augmented reality space. But instead of the anticipated Apple Glasses, the article refers to an entirely new device which is rumored to be called ‘Reality Pro’.

While Apple fans have waited long for a launch of VR/AR devices, venturing into the sector hasn’t been backed internally from all indications. Previously, executives reportedly vetoed the design team which believed that the device is not yet ready for launch. But it remains to be seen if the company will follow through and launch the device

Decentraland (MANA) price chart from TradingView.com

Decentraland (MANA) Picks Up Steam

With the rumors of Apple launching its own metaverse picking, the price of MANA, one of the largest metaverse projects in the crypto space, has been seeing positive reversals. Despite the low momentum in the market, MANA has been able to rise over 9% in the past day. This recovery has brought the MANA price back above $0.5 and its trading volume surged to $161.4 million during this time as well.

Decentraland (MANA)

MANA is not the only token to have benefited from the Apple rumors. Another metaverse token The Sandbox (SAND) has been on the rise as well. SAND is up 3.98% in the last 24 hours, enabling it to beat the resistance at the $5.2 level.

It is rumored that Apple’s device will drop at the WWDC 2023 event held later this year. If this happened, then the price of metaverse coins could explode leading up to the event, as well as after it.

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ETH Whales Scoop Up SAND – Up Nearly 80% – For Its Highly Bought Crypto Menu

The Sandbox is one of the leading players in the GameFi space. Its native token SAND is now going down the net of ETH whales as the altcoin rally continues into its third week. According to CoinGecko, the token has gone up by 76% in the past two weeks. 

ETH whales are also adding fuel to this fire, accumulating SAND and including the crypto on its top 10 tokens bought in the past 24 hours. Along with the recent release of Game Maker 0.8, The Sandbox ecosystem is expected to continue to be a dominant player in the GameFi space. 

More Support From ETH Whales 

The whale buying spree has effectively pushed the price of SAND up on the broader market market. Looking at the charts, the token is up almost 80% in the past two weeks. This in turn made the token test the $0.7540 price resistance level. 

On top of the whale buying spree, the release of Game Maker 0.8 certainly has an effect on the token. According to the development team’s Medium post, this upgrade brought features that were requested by the community in the past. 

eth whales

New multiplayer gameplay features, new lighting and post-processing effects, and the addition of audio and video streaming on the platform will certainly bring more attention to the platform and the GameFi space. With gaming companies noticing the power of Web3 development, platforms like The Sandbox will continue to rise in popularity. 

Is SAND Standing On Solid Ground? 

As the time of writing, the token is changing hands at $0.7044. With crucial support at $0.5015, this may be enough for SAND to sustain higher highs and higher lows. ETH whales should be careful, however, as a break below the $0.6327 support would delay a possible break above $0.7540. 

Bitcoin’s current strong momentum is being reflected by the token in the short to medium term as well. This means that if ever BTC – the world’s biggest crypto asset in terms of market cap – continues its momentous climb to breach the $21,500 resistance, SAND would see gains above $0.8626 which would wipe the losses that occurred when crypto exchange FTX collapsed. 

A breakthrough like this would trigger a bigger rally. However, if the rally is met with resistance, investors and traders should consolidate above $0.6327 to support further bullish movement in the coming days and weeks. 

Improvements in the macroeconomic situation should also help SAND’s price to secure crucial consolidation levels. With inflation seemingly going down, the ecosystem and SAND would benefit from its high correlation with Bitcoin and Ethereum.  

-Featured image: Screen Rant