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With the fallout of the head and shoulder pattern, AXS coin price hints the breach of the $100 mark. Is this the right time to buy the dip?
Online video games that use NFT aren't new at all. They've been in existence since at the very least 2017, when the popular CryptoKitties and a lot of them are considered to be moderately successful.
Yet, Axie Infinity is arguably distinct from everything that has gone before it. With a market cap of over $2 billion and projected revenue of over $1 billion in the coming year. It is certain the company Axie Infinity has achieved staggering success.
However, the recent decline in the crypto-sphere is causing a drop in Axie Infinity price. Are you looking for more in-depth details? Are the current conditions still positive in this Axie Infinity price? We'll discover this in the Axie Infinity price prediction. Let's first take an outline of basic aspects about Axie Infinity.
What is Axie Infinity?
Axie Infinity is a popular blockchain game developed by the hugely successful Pokemon games. It offers an open-ended, extremely flexible game that permits players to collect a variety of digital pets, known as Axies which can be raised, fought and traded across the ever-growing Axie community.
As of August 20, 2021, Axie Infinity is currently the most popular gaming DApp based on Ethereum, based on weekly on-chain volumes. It's also one of the top three most-popular gaming DApps based on user count and has more than 100,000 weekly unique users.
The platform was created to provide an enjoyable and accessible method to learn about the potential of blockchain technology. It has been successfully implementing this plan and has proven its worth, as Axie Infinity is now a well-known on-ramp to blockchain-related businesses in several developing nations.
Axie Infinity Use Cases
As of August 20, 2021 as of August 2021, the AXS token is used primarily to breed new Axies. There are plans to include additional functions to the token, for example:
Staking Rewards
AXS holders are soon able to place their tokens in the AXS market and receive a portion of AXS inflation. The feature is expected to go live in 2021.
Governance
Axie Infinity is designed to move to a decentralized governance model that will see AXS stakeholder groups take on some of the decisions that surround how the platforms are developed. It is anticipated to happen that Sky Mavis will no longer hold the majority vote until the month of October 2023. Governance features are scheduled to debut in 2021 and Axie Infinity should be governed by a decentralized, fully autonomous organization in late 2023. The things that voters could be able to influence include how treasury money is used and what features are prioritized on the development plan.
Purchase Eligibility
Users might need to hold AXS in order to participate in the future sales of Axie Land or products.
AXS Token: Price Analysis
Flashback: The Fundamental Analysis Of AXS
AXS/USD 2021 Price Chart
According to coinmarketcap, the current price of AXS at press time is $109.33. The market capitalization of the coin has decreased by 21.80% in the past 24 hours. Moreover, the trading volume of the coin has increased by 80% indicating increase in selling pressure.
In the past year, the coin price has increased by more than 21350% due to the increase in the last year. Thus, resulting in an uptrend with the all-time high of $164.90. However, the coin price is 33% lower than its all-time high.
However, taking the last few years into account, the coin price indicates a 87960% jump from its all-time low of $0.01237.
AXS/USD Daily Chart on TradingView
In the daily chart, the AXS coin price breaks below the $120 support zone in the daily chart. It is due to the fallout of the head and shoulder pattern. Moreover, the bearish engulfing candlestick indicates increased trend momentum.
The price of the coin is lower than the 100-day EMA but the three EMAs50, 100 and 200 remain in a bullish alignment. The downfall suggests that the price could break under the 200 day EMA. However, the EMAs remain in good stead, for the time being and there are a few chances for bullish reversals on the horizon.
It is noted that the Relative Strength Index (RSI) is currently at 32%, meaning that the slope is approaching the oversold limit (30%). As the selling pressure approaches saturation, a bullish reverse is possible.
Let us now look at the future Axie Infinity (AXS) Price Prediction.
Axie Infinity (AXS) Price Prediction 2021
With the increased selling pressure due to the price becoming overbought, the end of 2021 can see the AXS coin price reaching the low of $100. However, this can be a blessing in disguise considering what the future holds for Axie Infinity.
Axie Infinity (AXS) Price Prediction 2022
Axie Infinity price prediction shows there could be an Axie Infinity price to reach the high of $180 by June 2022. But, by the end of November, the token price may reach the low of $150.
Axie Infinity (AXS) Price Prediction 2023
According to the technical analysis, the value of Axie Infinity is projected to hit a minimum price of $200 in 2023. With an average daily trading price of $220, the AXS price rise may reach a high of $260.
Axie Infinity (AXS) Price Prediction 2024
Throughout 2024, the value of one Axie Infinity is predicted to rise to a minimum price of $350. In 2024, the AXS value may reach a high of $380, by an average price of $360.
Axie Infinity (AXS) Price Prediction 2025
The Axie Infinity price is projected to hit a high of $415 by March 2025. According to our estimates, the AXS value might hit a high of $500, with an average projected price of $460 by the end of 2025.
Axie Infinity (AXS) Price Prediction: Market Sentiment
Below you will find the price analysis of AXS Coin by different media outlets.
Digital Coin Price
Digital Coin Price revised their price predict
ion for AXS. According to them, the price could reach $187.5 in 2022 before accelerating further until it reaches $340 at 2025's end. At the end of 2028 it could reach $500.
Wallet Investors
According to investors who use wallets they think that the AXS price could continue to sustain the upward trend and could reach a peak of $500 by the year 2022's end. They expect that the price could surpass the mark of $1500 in 2025.
Gov Capital
Gov. capital has updated their forecast for AXS price. They anticipate the token to go up to an all-time high of $594 by the end of 2022. The website also has made an astounding prediction for the future, they believe the price will rise up to $4400 in the next five years.
Price Prediction
The website is optimistic of AXS's price-to-claim bullish growth to reach $140at the close of the year. The long-term forecast is bullish for altcoins, as they anticipate AXS to reach a peak of $695 by 2025. Moreover, they predict that the price will reach $2000 by the end of 2028.
Our Axie Infinity (AXS) Price Prediction
Axie Infinity has helped to define a new game genre, known as play-to-earn since it allows users to earn an income in the form AXS, SLP, and items just from playing the game.
As a long-term prediction, in the future, the network may plan for its expansion across various countries, where it may face regulatory issues, and uncertain market crashes and speculations regarding the coin’s pump to dump, AXS price may further rise to $200 by 2022.
According to Axie Infinity (AXS) Price Prediction 2021, the AXS Coin's value will be $100 in December 2021. Then, it will go up to $500 by 2025.
Conclusion
Axie Infinity token price is currently displaying a significant decline from the recent all-time record. But, based on the overall trend of price from the beginning of this year it is expected that Axie Infinity price has the potential to rise again.
Axie Infinity token value is expected to rise again, since it has a bright future and sets new records in the near future with optimistic AXS price forecasts from the charts.
AXS Price prediction gained importance due to the fact that investors have shown their faith on this crypto. They have realized that Axie Infinity is worth buying.
In the same way, any cryptocurrency will be lost if no one stopped buying it. The cost of Axis Infinity is set to rise, and with certainty, AXS would be worth it as an investment.