Enjin Coin Price Prediction 2023-2031: Can ENJ Price reach $100?
- Enjin Coin Price Prediction 2023 – up to $0.90
- Enjin Coin Price Prediction 2025 – up to $1.20
- Enjin Coin Price Prediction 2028 – up to $3.66
- Enjin Coin Price Prediction 2031 – up to $11.61
Enjin (ENJ) co-founder Maxim Blagov has stated that the company is focused on adoption. He imagines a future in which millions of gamers use digital items backed by Enjin Coin without even knowing it exists. This is a perfect strategy as gamers would like to play and worry less about technicalities such as the volatility of the coins used. But how will the Enjin Price Predictions steer in this turbulent crypto weather?
Crypto prices are affected by supply and demand, investor and user sentiments, government regulations, and media hype. All of these factors work together to create price volatility. However, Enjin has been highly involved in the gaming industry and aims to increase the revenue of the gaming business and give them a competitive advantage. Investors, however, are keenly interested in technicalities about the coin as they need to keep ahead of the crowd.
For Enjin, It’s difficult to predict where things are headed for 2022, as in the coming months, experts are following things like regulation and institutional adoption of crypto payments to try and get a better sense of the market. The domino effect of exchange crashes like the FTX has given federal regulators even more ammo recently to push for crypto regulation.
A positive outlook is Efinity, the first-ever NFT parachain to launch on the Polkadot network. Purpose-built to remove the barriers to entry to NFTs and decentralized gaming, Efinity simplifies the user experience and economics of digital asset management. As the first gaming platform to boost NFT adoption on Ethereum and authors of ERC-1155, Enjin is now heralding Polkadot and Efinity as the next generation of blockchain gaming.
Today’s Enjin Coin price is $0.328083 with a 24-hour trading volume of $18,798,676. Enjin Coin is up 6.44% in the last 24 hours. The current CoinMarketCap ranking is #90, with a live market cap of $328,082,747. It has a circulating supply of 1,000,000,000 ENJ coins and a max. supply of 1,000,000,000 ENJ coins.
A game creator explains that constructing an internal game economy involves “creating value out of nothing,” and making the “nothing”—such as a boost—scarce is one way to accomplish that. How’s that again? For now, let’s start with knowing the Enjin coin before proceeding with the Enjin coin price prediction.
Also Read:
• How to Buy Enjin Coin in 4 Easy Steps
• How To Stake Enjin Coin: Earn EFI Right Away
What is the Enjin Coin?
Enjin coin is an ERC-155 token and an ERC 20 token that relies on the Ethereum network to support smart contracts and payments. Its supply is finite, with a market cap of 1 billion units. It was first announced in July 2017 and launched on the Ethereum network in June 2018.
Enjin coin supports the creation and use of virtual goods. You can create cryptocurrencies that are backed by the Enjin coin.
Any person mining in the Enjin Ecosystem has to use the Enjin coins. They withdraw the correct quantity of ENJ tokens from their wallets and lock them within the assets they create. This way, the tokens are removed from the marketplace to create scarcity.
It is also the first crypto to be used in the gaming industry. Enjin coin is innovative crypto and is expected to transform the video game industry. The Enjin network blockchain gaming community has more than 20 million users.
Gamers can use Enjin Network to create clans and parties and play with friends online. Blockchain-based gaming is gathering heat within the gamers’ community. Gamers can use features like chat while playing blockchain-based games. Also, using the Enjin Network, any player will tokenize items in the game using the Ethereum network.
Gamers use the ERC-20 token on Ethereum and the Enjin Network to develop NFTs like digital swords. NFTs are becoming popular as many artists are entering the community. Even TIME magazine released its own NFTs.
This makes the Enjin coin price predictions quite important as many investors want to buy Enjin coin cryptocurrency.
Enjin Coin Price History
This section is a historical analysis of the ENJ price before getting into Enjin coin price prediction. The discussion is based on historical data about the ENJ digital coin.
The ENJ coin entered the world of cryptocurrencies on 1st November 2017 at $0.02431. Investors didn’t pay much attention since it was new in the market. The Price of the coin soon began to make significant strides. By the end of 2017, the value of ENJ had jumped by over 600% to reach a closing price of $0.1727, rewarding early investors with massive gains.
On 7th January 2018, the Price of Enjin rose to a maximum of $0.4934, an increase of over 180% from its previous high. The significant price actions of ENJ sparked a lot of interest and led to its listing on important cryptocurrency markets.
In early February 2018, the trading ENJ price dropped to as low as $0.09134 but soon garnered some momentum and rose to $0.1931 by the end of the month. By the end of June, ENJ had gone bearish, and its value bottomed again to $0.05143 after experiencing tremendous selling pressure. The bears dragged the Price of the Enjin Coin, and it ended with a minimum price of $0.03714 in 2018.
2019 didn’t start any differently for ENJ, as the coin’s market value dropped to $0.02516 on 6 February 2019. Soon after the dip, Enjin Coin gained momentum with renewed investor backing. Over the coming months, the coin traded within the range of $0.1116 – $0.2225. At the start of the third quarter of 2019, Enjin’s Price began trending downwards, and by October, the crypto had recorded a significant drop in market value to $0.05493. Towards the end of 2019, ENJ’s trend reversed, and it hit $0.1 again. The crypto ended 2019 at $0.08025.
Enjin coin entered the year 2020 with $0.08025 and hit $0.1648 by mid-February. In mid-March, the coin recorded a significant price drop to a value of $0.03627. The coin price trended upwards in the coming months, and it hit $0.2576 in August, raking in massive profits for investors. By the end of 2020, the Enjin coin was trading within a range of $0.138 to $0.1666. This also shows that the Enjin coin has average volatility.
2021 was the year of crypto, with mainstream currencies and alts riding on the bullish wave. ENJ recorded massive gains in 2021, and it hit its all-time highs at $4.85 during the November 2021 crypto boom.
ENJ started trading at $2.58 in 2022, and by the end of February, the coin had lost more than 65% of its value from its ATH. The price fall is attributable to the widespread uncertainty in the crypto space since the start of February, leading to massive selloffs of assets.
Enjin Coin New Developments
According to market value, the Enjin coin is among the top 100 cryptocurrencies on CoinmarketCap. It is a part of about 600,000 watchlists, which shows that many aficionados pay close attention to its movement in the coin market. This list includes Enjin coin, but not just due to its affordable pricing. Another reason it’s seen as an excellent cryptocurrency to buy right now is its bright future.
Beam, Efinity, Wallet, Multiple SDKs, and wallet are a few of the technologies offered by Enjin. These instruments are all supportive of the quick trade of NFTs. Developers and purchasers utilize the Enjin currency (ENJ) to access these tools and conduct transactions on the platform. The token’s supply deflates; thus, the more it is used, the rarer it gets, growing in value as a result.
Enjin project has been active over the past month as it continues to offer a wide range of new developments. The most notable one is that the company has launched NFT.io: The newest and most cutting-edge NFT marketplace. NFT stands for Non-Fungible Token and this marketplace allows users to buy, sell and trade NFTs from top developers. The marketplace will also offer support for ERC721 tokens from games like World of Warcraft, Guitar Hero, and many more.
On 15 March 2022, Enjin, as the leading ecosystem for non-fungible tokens (NFTs), launched its flagship parachain Efinity on Polkadot. As the first-ever NFT parachain to launch on the Polkadot network, Efinity will support CryptoBlades and its 1.1 million users, with additional commitment from over 100 games and apps.
The most remarkable development for November 2022 is the launch of Enjin Wallet V.2.This is a crypto and an NFT wallet that has been designed with the latest technologies. The update will allow users to access over 1,200 coins and tokens; including Enjin coin. The NFT.io is a comprehensive marketplace for all NFTs and has an excellent branded domain. Efinity-compatible, it not only boasts great features but also has a user interface and experience that are attractive and uncomplicated.
With the remarkable value of the Enjin coin doubled and more updates set to be implemented, the token is certainly one that traders should keep an eye on in the coming months.
Enjin Technical Analysis
Enjin price movement in the last month has marked higher highs and lower lows. The token was trading in an ascending trendline before the fallout of the FTX exchange that has brought shackles to the overall crypto market.
Enjin token peaked at $0.4947 on November 5 before declining to a low of $0.2954 on November 14. The crypto has been in a range-bound movement above the initial support level of $0.3151, as it bounces off the level one or two times a day.
The token has been constantly trading below the 50 Simple Moving Average over the past month. The SMA has been in a rising trend since the beginning of October, but it looks like it might be starting to go sideways now.
The 200-day Exponential Moving Average is also trending above the price action and indicates that bears are still in control at this time. However, traders can keep an eye on the MACD and Relative Strength Index indicators to see if any bullish movement is occurring.
Enjin price might start moving higher if it breaks out of its current range level of $0.3485. The next resistance at $0.3953 could be a good place for buyers to target, but the overall trend is still bearish.
Enjin Price Predictions by Cryptopolitan
Enjin price action in the last quarter of 2022 suggests ENJ was poised to continue its gains as it reached a peak of $0.498. However, the recent bear market attributed to the fall out of the FTX exchange saw ENJ’s price languish at $0.3223 where it is currently trading. Enjin price is expected to slowly recover as crypto regulations are eased but it may take some time for the ENJ price to recover back to its previous all-time high. Due to the current volatility of crypto prices, we will refrain from making any further price predictions for 2022.
Enjin Price Prediction 2023
Our Enjin coin price prediction for 2023 is a maximum price of $0.56 and the average price forecast is $0.48 while the minimum price forecast at $0.47.
Enjin Price Prediction 2024
According to the ENJ price prediction for 2024, a maximum price prediction of $0.83 is possible. The digital asset could trade at an average price forecast of $0.70 and a minimum price of $0.68.
Enjin Price Prediction 2025
The Enjin coin price prediction is bullish as we expect the token to reach a maximum value of $1.20 in 2025 while the minimum forecast could be $1.03.Enjin coin is projected to trade at $1.06 as the average price.
Enjin Price Prediction 2026
According to Enjin price forecast for 2026, a maximum price of $1.79 could be attained. The Enjin token is expected to trade at $1.49 as the lowest price while the average trading price is forecasted to be $1.49.
Enjin Price Prediction 2027
According to our Enjin coin forecast for 2027, a maximum price of $2.56 could be attained. The average digital asset’s price might trade at $2.15 while the minimum price is expected to be about $2.09 by the end of 2027.
Enjin Price Prediction 2028
Enjin coin price forecast for 2028 is a maximum price of $3.66. The average forecast price is $2.92 while the minimum price of $2.82 could be attained.
Enjin Price Prediction 2029
According to our Enjin coin forecast for 2029, a maximum price of $4.87 could be attained. The average digital asset’s price might trade at $4.46 while the minimum price is expected to be about $4.34 by the end of 2029.
Enjin Price Prediction 2030
The Enjin coin forecast is bullish as we expect the token to reach a maximum value of $7.50 in 2030 while the minimum forecast could be $6.60. The digital asset is projected to trade at an average price of $6.87.
Enjin Price Prediction 2031
According to the ENJ price forecast for 2031, a maximum price of $11.61 could be attained. The average trading value is $10.07 while the minimum price of $9.73 could be attained by the end of 2031.
Enjin Coin Price Prediction by TradingBeasts
TradingBeasts use a combination of technical analysis methods and market trends to forecast the Enjin price. They believe that the coin will reach a maximum price of $0.4962577 by the end of 2022. The site suggests a bullish trend for the rest of 2023 and by 2025 ENJ coin could potentially reach a maximum trading price of $ 0.5048790 which represents an increase of around 66 percent from the current price.
Enjin Coin Price Forecast 2025 by DigitalCoinPrice
DigitalCoinPrice believes that the coin will end the year 2022 with a maximum price of $0.38.The website is bullish on the long-term prospects of the coin and has predicted a maximum price of $2.19 by the end of 2030. They attribute this to the utility value that Enjin will offer on a larger scale.
Enjin Coin Price Prediction by Technewsleader
Technewsleader provides a range of forecasts for the future price of Enjin coin spread over different periods. The website projects a maximum value of $0.70 which is relatively conservative when compared to other websites. For the rest of 2023, they have predicted ENJ coin will trade at a range of $0.68 to $0.81 which indicates that the price is expected to stagnate during this period before picking up in 2025 once again. By 2027, the coin could reach a maximum value of $0.80 with an average value of $3.40 and minimal values of $3.99.The site predicts that the Enjin ENJ coin will attain an all-time high of $14.15 in the next 10 years.
Enjin Coin Price Prediction by Industry Influencers
The Enjin gaming platform is in demand among gamers because of its unique and innovative capabilities. Due to this, the demand for the token ecosystem is constantly growing. Enjin token has several advantages that indicate future price growth, according to analysts. The Enjin ecosystem will be integrated into one of Minecraft’s most popular online games in 2021. This attracted several million active users to the platform, who use the token and numerous NFTs daily.
According to Crypto Prince, Enjin COIN WHY IT WILL DO A 5000% SOON??
Conclusion
Enjin cryptocurrency is a highly speculative investment that could see significant growth should the underlying technology prove to be successful. The ENJ coin price predictions are bullish for the medium-to-long term but in the short term, it is a volatile asset with many risks involved. Investors should consider all factors before entering into this digital currency and balance the risk versus returns ratio accordingly. Enjin should prove to be a good investment for those who can afford to wait and HODL the coin.
Several cryptocurrency exchanges, including Binance, let you buy Enjin Coin. You must move your digital assets to that particular exchange once your trading account has been set up at one of the exchanges that trade ENJ. A wallet system is used to do this.
Always conduct your own research before investing in any asset. Your selection should be based on your attitude toward risk, your market knowledge, the spread of your portfolio, and your comfort level with losing money. Never put more money into anything than you can afford to lose, and remember that previous success is no guarantee of future results.
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