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.
- Enjin Coin (ENJ) Price Prediction
- Enjin Coin Price Prediction For 2022
- ENJ Price Prediction For Q3
- Enjin Coin Price Prediction For Q4
- ENJ’s Price Forecast For 2023
- Price Forecast Of Enjin Coin For 2024
- Enjin Coin Price Prediction For 2025
- What Does The Market Say?
- What Is Enjin (ENJ) coin?
- Fundamental Analysis
- CoinPedia’s Enjin Coin Price Prediction
- Historical Market Sentiments
|Circulating Supply||895,399,955.57 ENJ|
|All-time high||$4.85 (Nov 25, 2021)|
|All-time low||$0.01562 (Nov 02, 2017)|
Enjin Coin (ENJ) Price Prediction
|Year||Potential Low||Average Price||Potential High|
Enjin Coin Price Prediction For 2022
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.
Although, the Enjin coin had a heroic climb to $1.947 by the 1st of April. However, the digital token could not withstand to the havoc in the industry. The irking rule of bears led to the digital asset parting ways with 80% of its gains. Successively, a steady climb has landed ENJ’s price at the $0.643 milestone.
ENJ Price Prediction For Q3
The second half of the year could be imperative for Enjin Coin. As it could find the developmental efforts of 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 $0.816, by the end of the third quarter.
In case not much impetus is received, the price could hover around average levels of $0.706. Conversely, the protocol not standing true to its commitments could result in downfall to $0.572.
Enjin Coin Price Prediction For Q4
The growing buoyancy towards the end of the year could reignite the trends of NFTs. Which could turn the tables for Enjin Coin. Wherefore, the price of ENJ could surge to its potential high of $1.099, by the annual closure of 2022.
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 $0.735. Considering the bullish and bearish targets, the average price could settle at $0.96.
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 $1.812 with further developments.
Conversely, lower TPS may act as a setback, pulling the coin to a minimum of $0.96, 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 $1.394.
Price Forecast Of Enjin Coin For 2024
The concentration of Enjin’s volumes is fairly held by whales, retailers, and investors. Which is an overwhelming sight for the community. While the whales hold the lion’s share at $44.97%. Retailers are not far behind at 34.56%, followed by investors with a share of 20.47%. Successively, the transaction demographics between the west and the east are almost even at 49% and 51%.
Therefore, faster global adoption could push the ENJ price to a maximum of $2.695. On the contrary, things going in favour of the bears could result in a slip down to $1.476. Conversely, the average price could settle at $2.062.
Enjin Coin Price Prediction For 2025
By the next three years, ENJ might become the top gaming crypto available in the market. And might enter the top 30 cryptocurrencies list. If the network works on an instant transaction system, then it may blow a high at $4.173.
Contrarily, the ENJ coin might trade at $3.164 with not many developments. That being said, if new regulations pop up in the coming years, the coin may entangle and drop even to $2.180.
What Does The Market Say?
According to the ENJ price prediction by Wallet Investor, ENJ’s price could surge as high as $1.493, by the end of 2022. That said, the analysts expect the altcoin to trade at average levels of $0.881 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 $2.383.
As per the algorithmic analysis of Trading Beasts. The price of the Enjin coin is expected to trade at a maximum price of $0.996, by the end of 2022. The firm has pinned the minimum and average price targets at $0.677, and $0.797, respectively. According to Trading Beasts, ENJ’s price could close its trade for 2023 and 2025. With its potential highs at $0.891 and $1.540 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 $0.91. The company anticipates the minimum and regular price targets to occur at $0.79 and $0.86 respectively. The analysts from the firm foresee the possibility of the altcoin ending its trade for 2025 at a higher price of $1.37.
Click here to read our price prediction of PancakeSwap (CAKE)!
What Is 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. ENJ is a digital store value and backs the value of blockchain assets like NFTs. The altcoin is capped at a maximum supply of 1,000,000,000 tokens. ENJ is in use across different websites and online games.
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 in 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.
Maxim Blagov and Witek Radomski were the hands behind this growing gamification platform to land their feet in the crypto market. 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. And that very point opened doors to the world’s first blockchain-based gaming platform.
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 with 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.
CoinPedia’s 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 $1.1, by this year’s end. On the flip side, if the price continues to be volatile, the lowest price ENJ may hit is $0.75.
Historical Market Sentiments
- Enjin Coin entered the market, on the 1st of November, with an ICO, and with a price tag of $0.022.
- With certain price variations, ENJ climbed to $0.16 by the end of December.
- ENJ commenced its trade for 2018 at $0.18 and effectively hit an all-time high by spiking to $0.49 on 8th January.
- Further, the price declined to as low as $0.09 by February and steadily recovered to $0.23.
- Experiencing a spike in selling pressures, the price of ENJ bogged down to $0.052 by the end of June.
- As the bears were dragging the prices, ENJ failed to perform well and ended the year 2018 at a trading value of $0.04.
- 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 exchanges announced to tighten the crypto market regulations. The currency steadily recovered to $0.08 by December.
- 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.
- 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 toward the end of November. Following this, the year was concluded at $0.13.
- Enjin Coin entered the year 2021 with a trading price of $0.13.
- Following its ATH at $4, Enjin slumped significantly with $2 figures by May.
- However, on May 19th, the price collapsed, dipping from $1.89 to $1.20. Further, the coin failed to consolidate and dipped to $0.9136.
- 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, taking the price to the bottom at $2.83.
To read our price prediction of TheGraph (GRT) click here!
A: Yes, it is possible to mine Enjin Coin.
A: Enjin Coin might be a profitable investment for the long term as it aims to provide more benefits to its users.
A: The price of ENJ is expected to hit a maximum of $1.099, by the end of 2022.
A: According to our ENJ price prediction, the altcoin could soar as high as $4.173 by the end of 2025.
A: Enjin Coin is available for trade across prominent cryptocurrency exchange platforms such as Coinbase, Zebpay, and Kraken, amongst others.