As the market condition turned bearish, most cryptos fell victim to major price corrections, and gaming tokens were not any different. Top gaming tokens like Immutable (IMX), The Sandbox (SAND), etc. witnessed nearly double-digit price drops.
Nonetheless, this is the right opportunity for investors to buy the dip as there might be chances of a bullish trend reversal. Ergo, let’s take a look at 4 gaming tokens that can paint their charts green soon.
4 cryptos that might be planning a pump
Among all the popular gaming tokens, Immutable (IMX), Pikamoon (PIKA), The Sandbox (SAND), and Notcoin (NOT) were giving indications of a possible trend reversal. This was the case as most of these cryptos’prices dropped by nearly 10%. Whenever price drop sharply, they tend to arrive at critical support levels, and successful tests of these levels results in price hikes.
1. Immutable (IMX)
Immutable, the world’s largest gaming token by market capitalization, felt bears’ wrath last week as its price dipped by more than 23%. This latest decline pushed the Immutable price down to $1.12.
However, a few developments happened in its ecosystem, which can help change market sentiment and lift IMX’s price up. For instance, Immutable’s official X handle posted a tweet revealing that Norma in Metaland is officially migrating to Immutable. Norma in Metaland is a cooking game, built on the success of Cooking Adventure.
Notably, the game has more than 30 million downloads across the globe. The tweet also mentioned the upcoming “Norma’s Secret NFT Recipe: Immutable Collection Event.” This can further help instill positive sentiment in the market and propel IMX’s price up towards $1.4 in the following days.
2. Pikamoon (PIKA)
While mentioning the top gaming tokens with bullish potential, it’s necessary to talk about Pikamoon (PIKA). Pikamoon is creating one of the most advanced GameFi metaverses in the world. The platform focus on immersive 3D graphics, artwork, and gameplay to achieve its goal.
While the project seems promising, its native token, PIKA, remains under bears’ influence. The PIKA price has decline by 8% last week, pushing its value down to $0.0003708.
However, the scenario might change, considering the project’s upcoming plans and its current offerings. Apart from its metaverse, Pikamoon is also offering several advantages in the NFT ecosystem. For example, Pikamoon NFT holders have exclusive access to Dreva Metaverse bespoke experiences and competitive esports arenas.
This lucrative offering can on-board new users and help increase its adoption. When adoption and usage rises, the possibility of PIKA’s price following a similar trend increases.
In fact, the technical indicator Bollinger Bands is pointing out that PIKA’s price is testing the 20-day Simple Moving Average (SMA) resistance and a breakout above that level could spark a fresh bull rally, pushing its price towards its December 2024 high.
3. The Sandbox (SAND)
The Sandbox price action also isn’t favoring investors, as it plummeted by 11% in the last 24 hours alone. Analysis of the gaming token’s daily chart revealed a descending triangle pattern. Generally, the pattern is considered bearish, but this time the possible outcome might be different. On certain occasions, this pattern results in an upward breakout, which is known as a reversal breakout.
As the blockchain boasts its utility and has emerged as a top player in the gaming ecosystem, expecting a price uptick in the coming days won’t be too ambitious. In the event of a bull rally, The Sandbox might first target $0.9 before setting eyes on higher levels.
4. Notcoin (NOT)
Notcoin, one of the newest gaming token to join the group, gained immense popularity soon after its airdrop that happened in 2024. However, like most other cryptos, the Notcoin price also fell by nearly 10% in the last 24 hours.
The good news is that the gaming token’s trading volume also dipped sharply along with its price. Whenever trading volume declines, it hints at a trend reversal, which for SAND could be bullish.
It is interesting to note that the technical indicator Money Flow Index (MFI) is moving northward. A rise in MFI means that buying pressure is increasing. This showcases investors’ confidence in NOT, as they expect the token’s price to pump soon.
To sum things up, while all of these 4 gaming tokens showed potential of a trend reversal, Pikamoon (PIKA) might become the silent winner. The platform has robust utility and multiple attractive offerings for users, which can drive further growth in the coming days. Therefore, investors should consider checking out PIKA before it skyrockets.
To know more about Pikamoon (PIKA), visit the official website.
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