Cryptocurrency Price PredictionInformation

Enjin Coin Price Prediction 2022: This Is How ENJ Price Would Hit $10!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 26, 2022

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 Non-fungible tokens (NFTs) gained huge popularity in 2020 and 2021 amongst the general public. Enjin (ENJ) has been inspiring users and developers to launch their own NFTs, since 2017. And has served as a dominant player in the NFT space.

The Enjin is a unique project in the world of conventional cryptocurrencies. Gamification is a new approach from the network. As their official website quotes, More than simulation, these new realms will empower us to create real-world value while having fun. Precisely, Enjin aims to map a path where the users can experience digital realities!

The coin has not just caused inquisitiveness within the gamer’s circle. But has also grabbed the attention of many investors. Are you keen on investing some in ENJ? Look no further, as this write-up illustrates the feasible price prediction of ENJ for 2022 and the years to come.

Overview

CryptocurrencyEnjin
TokenENJ
Price$1.36
Market capitalization$1,115,098,096.49
All-Time High$4.00 Apr 09, 2021
All Time Low$0.01562  Nov 02, 2017
Circulating supply834,331,121 ENJ
Total Supply1,000,000,000 ENJ
Average ROI5395.22%

Enjin Coin (ENJ) Price Prediction For 2022

Potential LowAverage PricePotential High
$3.784$4.612$5.464

The digital asset had commenced the year 2022, with a price tag of $2.586. ENJ’s price slipped through the 200D MA owing to the market crash on the 5th of January. The altcoin managed to flip the bottom at $2.13, by surging close to 12% round the clock. Going forward, by the 24th of January, turbulence in the crypto market led to ENJ’s price to fall by 46.92%.

While an uptrend took the price to $2.169, by the 9th of February. Economic turmoil resulting from factors such as geopolitical tensions and inflation rates, amongst others dragged the price to $1.401. Later a steady ascend helped the altcoin close its quarterly trade at $1.945.

Enjin Coin’s (ENJ) Price Prediction For Q2

  If the Enjin Coin builds up volumes and manages to construct consecutive highs, the price could surge to $1.881. A validation of the bull run will help the altcoin chug up to $2.185, by the end of the quarter. 

On the flip side, ebbing volumes and the sellers out-weighing the buyers could result in the price finding support at $1.289. That said, constrained by regular buying and selling pressures, the price of the altcoin will settle at $1.817

ENJ’s Forecast For Q3

The second half of the year could be imperative for Enjin Coin. As it could find the developmental efforts in Q2, such as Effinity, NFT.io, Wallet, and Platform, bearing fruitful returns. In such a case, ENJ’s price could surge to a maximum of $3.56, by the end of the third quarter. 

In case not much impetus is received, the price could hover around average levels of $2.842. Conversely, the protocol not standing true to its commitments could result in downfall to $2.009.

Enjin Coin’s Prediction For Q4

 The growing buoyancy towards the end of the year could reignite the trends of NFTs. Which could turntables for Enjin Coin. Wherefore, the price of ENJ could surge to its potential high of $5.464

Contradicting the moonish numbers, a possible dump in the market, followed by FUD and negative criticism, could thwart the price action. As a result, the trading value could fall as low as $3.784. Considering the bullish and bearish targets, the average price could settle at $4.612

ENJ’s Price Forecast For 2023

The coin might soar if the community concentrates on reducing the transaction fees. Also, with the wide vogue of the Enjin Smart Wallet, the coin may strike a high at $9.703 with further developments. 

Conversely, lower TPS may act as a setback, pulling the coin to a minimum of $5.645, by the end of 2023. Which could further seek supplements, if the market crashes again due to debates about PoW. If this does not happen, the average figures by the end of 2023 seem reasonable and may strike at $7.416.

Price Prediction For The Next 5 Years

  In 5 years, ENJ might become the top gaming crypto available in the market. And might enter the top 40 cryptocurrencies list. If the network works on an instant transaction system, then it may blow a high at $21.393.

By the end of 5 years, the ENJ coin might trade at $16.107 with not many developments. In contrast, if new regulations pop up in the coming years, the coin may entangle and drop even to $8.178.

YearPotential LowPotential High
2023$5.645$9.703
Next Five Years$8.178$21.393

What Does The Market Say?

Wallet Investor:

 According to the forecast of Wallet Investor, ENJ’s price could surge as high as $2.551, by the end of 2022. In contrast, a reversal in trend could slash the price down to $1.377. That said, the analysts expect the altcoin to trade at average levels of $1.964 if not much impetus is received. The firm has also made predictions for the long term. It expects the price of the digital asset to close 2025 with a maximum trading value of $6.674. 

Trading Beasts:

 As per the algorithmic analysis of Trading Beasts. The price of the Enjin coin is expected to trade at a maximum price of $1.586, by the end of 2022. The firm has pinned the minimum and average price targets at $1.078, and $1.268, respectively. According to Trading Beasts, ENJ’s price could close its trade for 2023 and 2025. With its potential highs at $1.55 and $3.025 respectively. 

Digital Coin Price:

 The forecast made by Digital Coin Price, expects the year to close with ENJ’s price trading at its potential high of $2. The company anticipates the minimum and maximum price targets to occur at $1.73 and $1.89 respectively. The analysts from the firm foresee the possibility of the altcoin ending its trade for 2025 at a higher price of $3.03.

Click here to read our price prediction of PancakeSwap (CAKE)!

What is the Enjin (ENJ) coin?

 The Gaming community ventured in 2009 with around 200 million users in no time! However, the  Enjin Coin was first announced in July 2017, followed by an ICO and raised $18.9 million. Subsequently, the launch of the Ethereum mainnet occurred in June 2018. ENJ is in use across various different websites and online games. The coin is convertible into numerous other digital properties like game items or in-game gold. 

Maxim Blagov and Witek Radomski were the hands behind this growing gamification platform to land their feet in the crypto market. ENJ is a digital store value and backs the value of blockchain assets like non-fungible tokens (NFTs).  The altcoin is capped at a maximum supply of 1,000,000,000 tokens. 

After the blockchain technology became popular, Radomski, the Co-founder of the network decided to introduce the blockchain to Enjin. Moreover, he got keenly interested in Ethereum and smart contracts, such that he even wanted to create a blockchain-integrated software! And that very point opened doors to the world’s first blockchain-based gaming platform.

Fundamental Analysis

  The Enjin network lets game developers tokenize any in-game assets or items. For doing this, the native token ENJ, an ERC-20 token is in use. In other words, any blockchain asset in-built into a game can be backed by the Enjin token! As a result, when any player unlocks an item, they can not only use them in-game. But also trade and sell them in return for ENJ tokens.

For every asset that is minted within the network, a part of ENJ acts as a minting resource. That is to say, every digital asset is in lock with ENJ tokens inside NFTs. Thereby, a segment of the token goes eliminated from circulation, adding a reserve value to it. Not just NFTs, with the Enjin Beam, transfer of both NFTs and FTs is now possible by scanning a QR code. 

The altcoin follows the PoW consensus mechanism like most other cryptocurrencies. Since it runs on the Ethereum blockchain, you cannot stake ENJs and can only mine them. Minting the tokens helps within in-game items aids in boosting transparency and turns them into anti-inflationary coins. Also, the coins have a Melting mechanism where a user can demolish the blockchain asset and procure the tokens within.

Know Our Enjin coin Price Prediction

 ENJ may concentrate on integrations and collaborations with certain gaming websites. According to Coinpedia’s formulated Enjin Coin price prediction. If it introduces new offerings to trigger the problem of scaling, it might smash $5.5, by this year’s end. On the flip side,  if the price continues to be volatile, the lowest price ENJ may hit is $3.8.

Historical Market Sentiments

2017

 Enjin Coin entered the market, on the 1st of November, with an Initial Coin Offering, and at $0.022. As it was a new entrant in the sphere, investors were not attentive to the currency. The token started to rise significantly thereafter. With certain price variations, ENJ climbed to $0.16 by the end of December and closed the year 2017. At similar levels.

2018

  Escalating on a bearish note, ENJ continued to trade at $0.18. Later, the currency effectively hit an all-time high by spiking to $0.49 on 8th January. As it got listed on many exchange platforms. Further, the price declined to as low as $0.09 by February and steadily recovered to $0.23. 

Surprisingly, the token plunged to $0.052 by the end of June as the Enjin coin experienced huge selling pressure. As the bears were dragging the prices, ENJ failed to perform well and ended the year 2018 at a trading value of $0.04.

2019

  Enjin Coin started the year 2019, with a bearish run, at a cost of $0.04. The price spiked dramatically to $0.24 by early March as the marketers continued their investment in Enj. But further, the token plunged to $0.05 by the end of October. As the south Asian state exchanges announced to tighten the crypto market regulations. Following this, the currency steadily recovered to $0.08 by December to end the year 2019.

2020

  The digital coin preceded the year 2020 with an exchange value of $0.07. With certain price inequalities, following the outbreak of Covid-19, the price dramatically dropped to $0.04 by mid-March. Further, the price started to recover as the market opened its trading doors. 

Later the price hit $0.23 by the end of August and further plunged to $0.11 by early November. ENJ remained stable after the expansion of Bitcoin’s price rally at the end of November. Later, Enjin Coin traded at $0.13 to close the year 2020.

2021

  Enjin Coin entered the year 2021 with a trading price of $0.13. On a bullish note, the price started to rise further and traded at $3.48. Following its ATH at $4, Enjin slumped significantly with $2 figures by May. However, on May 19, the price collapsed, dipping from $1.89 to $1.20. Further, the coin failed to consolidate and dipped to $0.9136. 

Soon after the partnership with Drops, the network started a study rise hinting at a bullish rally. The hype in metaverse projects had uplifted the ENJ price in November. The ENJ price skyrocketed to a whopping $4.85 post the trend reversal to Meta. But the rally lasted for a very short term, as bears haunted the rally, towards the end of the year. Taking the price to the bottom at $2.83.

To read our price prediction of TheGraph (GRT) click here!

FAQ

Q: Can Enjin Coin be mined?

A: Yes, it is possible to mine Enjin Coin.

Q: Is Enjin Coin a profitable investment?

A: Enjin Coin might be a profitable investment for the long term as it aims to provide more benefits to its users.

Q: Can Enjin Coin reach over $10 in the next five years?

A: Yes, according to our analysis, Enjin Coin might reach a maximum of $21.393, by the next five years.

Q: How high will ENJ’s price reach by the end of 2022?

A: The price of ENJ is expected to hit a maximum of $5.464, by the end of 2022.

Q: Where can I buy Enjin Coin?

A: Enjin Coin is available for trade across prominent cryptocurrency exchange platforms such as Coinbase, Zebpay, and Kraken, amongst others.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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