Enjin Coin Price Prediction 2024, 2025, 2030: Will ENJ Price Rise Again?

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The post Enjin Coin Price Prediction 2024, 2025, 2030: Will ENJ Price Rise Again? appeared first on Coinpedia Fintech News

The Enjin is a unique project that uses gamification as a new approach to growth. Enjin aims to create real-world value in its ecosystem while users have fun.  The ENJ token is the powerhouse of the Enjin network and is a direct indicator of Enjin’s demand.

Are you keen on investing some in ENJ? Look no further, as this write-up illustrates the feasible ENJ price prediction for 2024 and the years to come.

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Overview

Cryptocurrency	Enjin Coin
Token	ENJ
Price	$ 0.14733059 4.83%
Market cap	$ 250,262,030.5106
Circulating Supply	1,698,642,717.6685
Trading Volume	$ 11,500,674.7050
All-time high	$4.85 on 25th November 2021
All-time low	$0.01562 on 03rd November 2017
24 High	$ 0.0000
24 Low	$ 0.0000

*The statistics are from press time.

Factors Influencing ENJ Price

Following are some of the factors that will affect the ENJ Price

• NFT Market Growth– The NFT market has grown tremendously in recent years. In 2021, NFT sales volumes surpassed $40 billion, according to some estimates. As the NFT market expands, there will be more demand for ENJ since it is primarily used for creating, selling, and managing NFTs on the Enjin platform. 
• Enjin Platform Adoption– The Enjin platform has been adopted by thousands of game developers and creative professionals for NFT development and in-game items. Increased real-world use cases for NFTs created on Enjin could spur more demand for ENJ tokens over the next few years.
• Efinity Blockchain Development—Enjin is developing Efinity, an Ethereum scaling solution optimized for NFTs. Efinity aims to provide near-zero cost and instant transactions. 
• Gaming Industry Integration– Popular games like Minecraft have integrated Enjin technology, exposing millions of players to cryptocurrency. As blockchain integration expands to more AAA gaming titles, awareness and real-world use of ENJ could rise dramatically. 

Enjin Price Prediction September 2024

ENJ price action reveals a falling channel in the 1-day chart, as the token price has dropped almost 85% in the last five months. The downfall takes support over the $0.122 level and teases a double-bottom reversal for a bull cycle within the channel. 

The RSI line shows a bullish divergence and projects a potential bounce back, increasing the breakout rally chances. 

If the ENJ price gains momentum, a breakout rally can reach the 50% level at $0.39. Conversely, a sideways trend will continue above the $0.122 level. 

ENJ Crypto Price Prediction 2024

The growing buoyancy could reignite the trends of NFTs. Moreover, developments and promotions of Efinity, NFT.io, and Enjin wallet could help ENJ gather volumes. Therefore, the price of ENJ could surge.

Therefore, faster global adoption could push the ENJ price to a maximum of $0.80. On the contrary, things going in favor of the bears could result in a slip down to $0.38. Conversely, the average price could settle at $0.59. 

ENJ Coin Price Prediction 2025

By 2025, 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, it may blow a high at $1.10.

Contrarily, the ENJ coin might trade at $0.87 with not many developments. That being said, if new regulations pop up in the coming years, the coin may entangle and drop even to $0.65.

Enjin Price Prediction 2026 – 2030

Also Check Out: Gala Games Price Prediction 2024-2030

Enjin Coin Price Prediction 2026

According to our analysts, ENJ coin price prediction for the year 2026 could range between $0.99 to $1.91 and the average price of Enjin could be around $0.1.45.

ENJ Coin Price Prediction 2027

According to our analysts, Enjin price for the year 2027 could range between $1.30 to $2.76 and the average price of ENJ could be around $2.03.

Enjin Coin Price Prediction 2028

According to our analysts, ENJ crypto prediction for the year 2028 could range between $2.01 to $3.66 and the average Enjin coin price could be around $2.83.

ENJ Coin Price Prediction 2029

According to our analysts, Enjin’s forecast for the year 2029 could range between $2.85 to $4.75 and the average ENJ coin price could be around $3.80.

Enjin Coin Price Prediction 2030

According to our analysts, ENJ predictions for the year 2030 could range between $3.68 to $6.16 and the average Enjin price could be around $4.92.

Market Analysis

*We have made a table that includes the possible price prediction for the same token made by other crypto analysts on their respective platforms. The targets mentioned above are the average targets set by the respective firms.

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 $0.80, by this year’s end. On the flip side, if the price continues to be volatile, the lowest price ENJ may hit is $0.38.

Fundamental Analysis

Maxim Blagov and Witek Radomski were the hands behind this growing gamification platform to land their feet in the crypto market. After blockchain technology became popular, Radomski, the Co-founder of the network decided to introduce the blockchain to Enjin. Moreover, he became 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.

What Is Enjin 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. To do this, the native token ENJ, an ERC-20 token is in use. In other words, any blockchain asset 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.

Enjin Historical Market Sentiments 2017 – 2022

• Enjin Coin entered the market on the 1st of November with an ICO and a price tag of $0.022. With certain price variations, ENJ climbed to $0.16 by the end of December 2017.
• ENJ commenced its trade for 2018 at $0.18 and recorded a low of $0.09 by February bogged down to $0.052 by the end of June and ended the year 2018 at a trading value of $0.04.
• Enjin Coin started the year 2019, with a bearish run, for $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 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 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. 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. The ENJ price skyrocketed to $4.85 post-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.
• The digital asset 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.
• While an uptrend took the price to $2.169, by the 9th of February. Economic turmoil resulted in ENJ’s price losing 80% of its gains and concluded with a price tag of $0.2408.

CoinPedia has dedicated a team of expert analysts to cover the possible crypto price prediction and sum it all up in one place, just for you!

Can ENJ Recover and Rise Again?

Based on the growing NFT market, increasing adoption of Enjin, and upcoming developments like Efinity, ENJ’s price will rise significantly above its current levels in the coming years. However, cryptocurrency predictions always have uncertainty since the space is highly volatile. 

Positive catalysts like major game integrations using ENJ, widespread Efinity usage, or larger-than-expected NFT market growth could accelerate ENJ’s price rise. Meanwhile, factors like unclear regulation, economic downturns, or lack of expected product progress could limit the upside. However, according to this analysis, if Enjin continues building strong use cases, it seems plausible that ENJ will recover to surpass its all-time high.

Enjin’s Competitive Landscape and Long-Term Potential

The NFT and blockchain gaming space has attracted investments into several competitor cryptocurrencies, promoting themselves for similar use cases as ENJ. However, Enjin has a long head start as one of the earliest established platforms since 2009. Its brand recognition and integrated product suite give ENJ an advantage over narrower competitors.

Looking long-term, as concepts like the metaverse, decentralized economies, and digital ownership become a reality, the use cases for ENJ could expand vastly. If Enjin maintains its technology lead and roots in gaming while crypto becomes more mainstream, ENJ is well-positioned for substantial long-term gains. 

Experts forecast over a trillion dollars flowing into the virtual economy within this decade. As a critical platform enabling play-to-earn gaming models through verifiable digital ownership and interoperable item use, ENJ benefits significantly from these multilayered trends gathering steam. Success in building Efinity could further solidify ENJ as the backbone of in-game blockchain economies worldwide.

Concluding Remarks 

Based on the growing factors analyzed and Enjin’s strong positioning in the NFT and gaming niche, ENJ promises to surpass its past highs within the next few years. However, cryptocurrency investment inherently carries risk due to the volatility. The market is unpredictable, and there is no guarantee any predictions will pan out. 

External unforeseen events could also impact ENJ’s price trajectory. For these reasons, thorough independent research on Enjin’s technology and regular evaluation of market conditions is recommended before investing in ENJ. Understanding the risks is crucial for strategic decision-making.

Also read: Decentraland (MANA) Price Prediction 2024-2030

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FAQs

Can Enjin coin be mined?

Yes, it is possible to mine Enjin Coin.

How high will ENJ’s price go by the end of 2024?

The price of ENJ is expected to hit a maximum of $0.80, by the end of 2024.

Is Enjin Coin a good investment?

Although not investment advice, Enjin Coin might be a profitable investment for the long term as it aims to provide more benefits to its users.

Can Enjin Coin reach over $10 by 2025?

According to our ENJ price prediction, the altcoin could soar as high as $1.10 by the end of 2025. With a potential surge, the price may go as high as $6.16 by the end of 2030. 

How to buy Enjin Coin?

Enjin Coin is available for trade across prominent cryptocurrency exchange platforms such as Coinbase, Zebpay, and Kraken, amongst others.

What is the price of Enjin coin?

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At the time of publishing, the price of 1 ENJ was $0.2870.

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