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The Sandbox (SAND) has been on a tear since early November.
This past month alone has seen the native token of the decentralized virtual reality world soar more than 150%.
With top coins recording a positive flip across board, is it time SAND revisited the crucial price level of $1?
The token reached highs of $0.82 on November 26 as the project registered swift gains from lows of $0.32 earlier in the week.
Currently, SAND price is hovering near $0.62 as slight profit taking sees it down 1.1% in the past 24 hours.
This comes after a notable 30% spike the previous day, with The Sandbox’s market cap now at $1.5 billion.
Trading volume of $1.1 billion in the last 24 hours signals a 47% decrease, which coincides with decline in upside momentum.
However, SAND looks bullish and could rebound to key resistance levels above $1.
Here’s what analysts are saying about this project.
What next for SAND price?
SAND token’s price gains over the past week came as cryptocurrencies rallied. As BTC hit an all-time high above $99k, major gaming and metaverse tokens followed suit.
The surge to above $0.82 suggests the altcoin’s next leg up might include a retest of key supply zones above $1.
Bulls holding $0.60 will help bring a swift return to winning ways, and successful breakout above $1.25 could bring the $2.00 mark into play.
However, failure to keep bears off at current levels could ignite sell-off pressure. In this case, support levels are likely at $0.49 and then $0.40.
The Sandbox milestones
The Sandbox price rose as the community cheered the gaming platform’s milestone over the past five years.
Related to this is the project’s 5th anniversary of virtual LAND sale launch.
LAND powers the metaverse game and experiences in The Sandbox.
“5 years ago, we introduced the first virtual LAND sales on The Sandbox – the first of many successful ones that defines a world of culture in the Metaverse,” The Sandbox COO and co-founder Sebastian Borget, said in a post on X.
Some of the key milestones for The Sandbox include reaching over 27,000 unique LAND owners, map sale hitting 80% and new neighborhoods being unveiled every 2-4 months.
The project also saw the total map value surpass $1 billion, with some of the most expensive LANDS being those next to Snoop Dogg.
South China Morning Post, Binance, Atari, Warner Music Group and Socios are some of the top tier brands to own Lands.
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