The non-fungible token (NFT) revolution came to the attention of investors after overtaking most other cryptocurrencies in the recent market downturn.
With the popularity of non-fungible tokens (NFT), The Sandbox also sparked a hot phenomenon in the market after many users favored and supported NFT games starting the market opening in July.
Sandbox aims towards the metaverse, where users can enter the world of virtual reality (VR) with NFT and decentralized governance, using a “play to earn model” where players can earn cryptocurrencies to play games.
Sandbox recently announced its partnership with Skybound Entertainment which brings The Walking Dead Comics, which may have impacted the price spike.
🧟♂️ @TheWalkingDead enters the Metaverse!
🧟♂️ Meet characters from the comic books
🧟♂️ Craft your own stories with #TheWalkingDead assets
🧟♂️ And much more…
Sign up now and get the survivor backpack on game launch 👇https: //t.co/ZoyMuH9mTp pic.twitter.com/6jaA6cGQQ0
- The Sandbox (@TheSandboxGame) July 8, 2021
Interestingly, investors have bought CryptoPunks, Meebits and Bored Ape Yacht Club NFT worth thousands of dollars, and some of these investors went to the Sandbox metaverse to showcase their collections.
Interesting if you look closely at the current movement chart of the SAND/USDT price.
When the Sandbox analysis article was released in early July, the Sandbox was trading around $ 0.22, but has now produced over 200% positive gains.
From a technical point of view, the price movement still remains with the upward momentum and has passed the RBS zone (resistance become support) around $ 0.60 where the price movement is seen hovering above that level either to make a price correction (correction) or continue to rise.
As for the next expectation, if the price movement stays with its moving momentum, the resistance level around $ 0.70 will be the next focus to be tested before making a higher rise or will make the latest all -time high (ATH) level again.
Meanwhile, if the Sand price movement shows a bearish trend again, the price movement will retest the RBS zone around $ 0.60 before making a lower decline and will be the next observation by investors.
At the time of writing, SAND/USDT is trading at around $ 0.67 up almost 60% in the last 24 hours. Sand Coins at once almost took over the top 100 from 161st position previously.
