Will these 4 Gaming Tokens Turn Bullish Soon?

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In response to a bearish market shift, many cryptocurrencies, including popular gaming tokens such as Immutable (IMX) and The Sandbox (SAND), experienced significant price decreases, with some drops reaching nearly double digits.

Despite the current situation, this presents an ideal moment for investors to purchase at a discount, considering the potential for a shift towards a bullish market trend. With that in mind, let’s explore four gaming tokens that could potentially see positive price movements soon.

4 cryptos that might be planning a pump

Among well-known gaming-related cryptocurrencies such as Immutable (IMX), Pikamoon (PIKA), The Sandbox (SAND), and Notcoin (NOT), there were signs suggesting a potential trend reversal. This was due to the fact that their prices plummeted by approximately 10%. When prices fall sharply, they often reach important support levels. Successful tests of these support levels can lead to significant price increases.

1. Immutable (IMX)

Last week, the world’s top gaming token by market value, known as Immutable, experienced a significant drop in value as its price fell over 23%. This recent decrease caused the price of Immutable to dip to around $1.12.

Nevertheless, certain significant occurrences transpired within IMX’s ecosystem, which could potentially shift market opinion and propel its price upward. For example, Immutable’s official Twitter account announced that Norma from Metaland is now moving to Immutable. Notably, Norma in Metaland is a popular cooking game, stemming from the success of Cooking Adventure.

Significantly, this game boasts over 30 million downloads worldwide. The tweet also hinted at an upcoming event called “Norma’s Secret NFT Recipe: Immutable Collection.” This could potentially generate a positive response in the market and potentially push IMX’s price towards $1.4 in the coming days.

2. Pikamoon (PIKA)

When discussing promising gaming tokens with a positive outlook, it’s essential to bring up Pikamoon (PIKA). This innovative project is developing one of the most sophisticated GameFi metaverses globally. The platform prioritizes immersive 3D graphics, captivating artwork, and engaging gameplay to realize its vision.

I’ve been closely watching this crypto project, and while it looks promising on paper, the native token, PIKA, is currently under the control of the bear market. Last week, the PIKA price plummeted by 8%, dragging its value to a new low of $0.0003708. It’s a challenging time for holders like myself.

Regardless of future developments or changes in the project, it’s worth noting the impact of its upcoming plans and existing offerings. Beyond the metaverse, Pikamoon provides unique benefits within the NFT marketplace. For instance, owning a Pikamoon NFT grants exclusive privileges to personalized experiences in Dreva Metaverse and competitive esports arenas.

This attractive deal could attract new customers and boost its popularity. As more people adopt and use it, the likelihood grows that the value of PIKA might follow a comparable upward trajectory.

It appears that the Bollinger Bands technical indicator suggests that PIKA’s current price is encountering resistance at its 20-day Simple Moving Average (SMA), and if it manages to break above this level, it might initiate a new bullish trend, potentially driving its price towards its December 2024 peak.

3. The Sandbox (SAND)

Investors are finding unfavorable price action with Sandbox, as it dropped by 11% within just the past 24 hours. A look at its daily chart indicates a descending triangle formation, typically a bearish sign. However, this time there might be an unusual outcome. On specific instances, this pattern can lead to an upward breakout, referred to as a reversal breakout.

With blockchain becoming a key player in the gaming world and showcasing its usefulness, it’s not overly optimistic to anticipate an increase in price in the near future. If a bull market occurs, The Sandbox may initially aim for $0.9 before looking towards even higher prices.

4. Notcoin (NOT)

In 2024, NotCoin, a recently introduced gaming token, experienced rapid popularity following an airdrop. Similar to many other cryptocurrencies, its value dipped approximately 10% over the past day.

It’s encouraging to note that the trading volume of the gaming token has dropped significantly alongside its price. A decrease in trading volume often suggests a change in direction, and for SAND, this might indicate a potential upturn, which could be positive.

It’s worth pointing out that the Money Flow Index (MFI) is trending upward, indicating a growing demand from buyers. An uptick in MFI suggests an increase in buying pressure, which implies that investors are optimistic about the token’s price rising in the near future.

In essence, each of these four gaming tokens appears to be on the verge of a turnaround, but Pikamoon (PIKA) could prove to be the underrated victor. The platform boasts strong functionality and an array of appealing features for users, which may fuel additional growth in the near future. Consequently, it’s advisable for investors to explore PIKA before its value soars.

To know more about Pikamoon (PIKA), visit the official website. 

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2025-01-15 09:38