Deep-dive into the AXS price analysis, Axie Infinity, the GameFi Project, is making a silent comeback. Learn about the new updates and volatile price action here.
Blockchain gaming is a solution in search of a problem. A recent study by CoinTelegraph proves it.
You didn’t need to go to Consensus 2024 to realize that there are only two types of crypto games: 1) Require NFTs to earn money in the game (Play-to-Earn) and 2) Cosmetics sold as NFTs — and in both gameplay is usually severely lacking.
Just read our article about the new Crypto Shark Tank show “Killer Whales.”
While adoption for GameFi is years away in development, one game making a silent comeback is Axie Infinity.
With a new Ronin Carnival update on the way and volatile price action, Axie could be on the break of a big upswing.
AXS Price Analysis: Axie Infinity – BlockChain’s First Big and Recognizable Game
In Axie Infinity, players battle, raise, and trade cute creatures called Axies in this digital pet game.
The game exploded in hype over the summer of 2020, with some people making it their full-time job and crashing like a fidget spinner shortly after.
There are a few things to be bullish for if you’re an Axie Investor.
Despite a rocky start—dropping 2.99% on May 26th and hitting an eight-day low of $7.236 on May 31st—Axie Infinity bounced back with a 6.72% gain on June 1st, nearly wiping out the week’s losses.
Axie Infinity shrugged off the broader market dip, posting a 12.54% gain over this week and trading at $8.52.
(AXSUSDT)
Looking ahead, the Relative Strength Index (RSI) at 55.73 suggests potential for further growth for Axie Infinity, and 99Bitcoin analysts believe a break above $8.4, the April 24th high, could pave the way for a return to the yearly peak of $13.50.
Conversely, a breach below the 50-day MA could trigger a drop towards $7.00.
DISCOVER: The Best Solana Meme Coins to Buy For Major Gains in June 2024
Axie Infinity Ronin Carnival Update Stimulates Price Moves
Axie Infinity is also making headlines with the Ronin Carnival, a month-long festival launched to attract new users to the network and celebrate top players.
The prestigious tournament, hosted on the Ronin network, offers participants a chance to win a portion of 3,000 Axies NFTs, 5 Origin Axies, and 200 AXS tokens upon reaching level 5.
To get in on the action, players set up a Ronin Wallet and register via the Axie app. As you advance in Axie Origins, you’ll score weekly rewards and exclusive cosmetic boosts.
What makes this game interesting is the constant updates happening even when the hype dies down. With a graphic style that’s hard not to love, you should put Axie Infinity back on your watchlist as a GameFi investor.
AXS Price Analysis: Axie Infinity Might Make a Comeback, But This Blockchain Game Could Be Better
While Axie Infinity walked so other GameFi tokens could run, PlayDoge, a new play-to-earn game on Binance, might surpass it in the next few years.
PlayDoge is Tamagotchi 2.0, rewarding players with $PLAY tokens for caring for a virtual doge companion and embarking on exciting adventures.
Just one week into its presale, PlayDoge has already sold more than $1.8 million worth of $PLAY tokens, capturing the attention of investors and analysts alike. The initial $0.00500 per token price has sparked significant interest, with many predicting a 10x surge post-launch.
PlayDoge is Tamagotchi 2.0 on Blockchain
Tamagotchi sold over 82 million devices in the 90s but eventually lost traction due to technological limitations.
After all, this was the decade when Mario 64 blew our minds with its graphics. PlayDoge aims to revive this nostalgic charm by creating an advanced version of the virtual pet concept.
Crypto analysts and influencers are highly bullish on $PLAY, with Technopedia analysts forecasting it could become one of the top tokens of the year.
- 2024: It could reach $0.160
- 2030 and beyond: PlayDoge could explode past $0.25
Check out the PlayDoge Presale Here
EXPLORE: VanEck Sees Ethereum Soaring To $22,000 by 2030: Here’s Why
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
