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Enjin coin is a virtual token based on the Ethereum network. It is well known for creating the applications in the gaming industry. One of the special features of ENJ is that, it’s gaming products can be implemented by the developers.
Do you think that the gaming industry will evolve in the future by utilizing Blockchain Technology?
This article aims to provide you with brief information regarding the technical analysis, price prediction and the projected growth of the altcoin Enjin.
By the end of this guide, you will have a clear outlook on Enjin Coin, whether it is a good investment or not?
Table of contents
What is Enjin Coin?
A decision to invest in an Enjin coin should normally come with curiosities concerning future possibilities. Of these possible questions that arise are some relating to the foundation and use case. We shall begin with what an Enjin coin is.
An Enjin coin is essentially a token built on the Ethereum Blockchain. Enjin itself is an IT company that was founded in 2009. The company which is based in Singapore has various ready products like Enjin Network, Enjin Wallet, EnjinX, Efinity, and Enjin Coin (ENJ).
Enjin coin is a cryptocurrency that can be used across various different websites and online games. The coin can also be converted into numerous other digital properties like game items or in-game gold. The coin is virtually made for the game industry.
ENJ Coin Technical Analysis
With an Initial Coin Offering, Enjin Coin entered the market with $0.024 during November. The price steadily started to rise as Enjin Coin gained the attention of the investors. At the end of December 2017, ENJ was trading at $0.14.
Following the bullish trend, ENJ continued to trade at $0.18 during the early January. With a price surge, Enjin Coin recorded its All-Time-High by reaching $0.49 on 8th January. Later the price started to decline and reached $0.25 by the end of January. Shockingly, ENJ dropped to $0.094 by February and steadily the price started to improve. Later, ENJ started to fluctuate as the crash of other altcoins. Enjin Coin traded at $0.04 at the end of 2018.
With the influence of bearish trend, ENJ traded at $0.04 during January. Dramatically, the price spiked to $0.24 by early March as Enjin Coin gained the attention of the investors and further, the price started to plunge. ENJ traded between $0.06 and $0.15 for several months as the south asian state exchanges announced to tighten the crypto markets. By the end of 2019, Enjin Coin was exchanged at at $0.07.
Enjin Coin started to trade at the same price range of $0.07 in January. With certain variations, the price dramatically dropped to $0.04 by the mid March as the crash of crypto assets because of the Covid-19 outbreak. Further, the price started to recover as the market opened the trading doors. The price hit $0.23 by the end of August and further plunged to $0.11 by early November. Later, ENJ managed to be stable as the expansion of Bitcoin’s price rally at the end of November. Later, Enjin Coin traded at $0.13 to end the year 2020.
Enjin Coin Price Prediction 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 is trading at $3.48. If the investors focus on Enjin Coin, the price is expected to escalate to a new high. The current ATH is $3.59. The coin might soar if the community concentrates on reducing the transaction fees. By the end of 2021, the highest value ENJ could reach is $10
Enjin Coin Price Prediction 2022
ENJ might initiate the year 2022 at a price of $11. The community could focus on revolving around the gaming industry. It might enhance its platform by offering flexibility and seamless transparency. By the end of 2022, Enjin Coin’s price is assumed to be traded at $25.
5 Years ENJ Price Prediction
With certain developments and collaborations, ENJ might rise. In 5 years, ENJ might be considered as the top gaming crypto available in the market and might enter the top 40 cryptocurrencies list. It might attain more investors and users if it concentrates on the enhancement of its protocol and instant transaction system. By the end of 5 years, ENJ might be traded at $60.
Market Price Prediction
Owing that the crypto market is entirely unstable and unpredictable, it is relatively tough to predict the price of cryptocurrencies. Essentially, it is similar to a gamble and luck rather than any data-driven guesstimate.
Now is the time to glimpse at the distinguished periodicals and identities who share their projections about the Enjin coin:
According to TradingBeasts, Enjin Coin is expected to reach an average of $0.5057236 by the end of 2021.
According to CryptoGround, Enjin Coin might stay around $0.22 by the end of 2021. It might reach $0.55 by 2024.
According to DigitalCoinPrice, Enjin coin might trade at $0.44 by the end of 2021.
Enjin Coin initiated the year 2021 with the price, $0.13. The token started to escalate further and hit an all time high of $3.59 on April 9, 2021. ENJ may concentrate on integrations and collaborations with certain gaming websites. It might introduce new offerings to trigger the problem of scaling and it might be valued at a higher price. By the end of 2021, the digital currency might be exchanged at as high as $8.
Yes, it is possible to mine Enjin Coin.
Yes, Enjin Coin might record its new All-Time-High by the upcoming days.
Yes, Enjin Coin might reach $10 in the near future.
Enjin Coin might be a profitable investment for the long term as it aims to provide more benefits to its users.
Maxim Blagov is the founder of Enjin Coin.