The sandbox price is trading relatively stable in today’s trading session, recording a below 0.5 per cent increase in the markets. However, for the past few weeks, the long-term trend of the crypto has been aggressively bullish.
Since June 19, when the current push to the upside started, Sandbox’s price has gone up by 76 per cent. Part of the reason we have seen such growth is the growing influence of the metaverse platforms such as Sandbox is due to increasing interest from blockchain users, high-profile individuals and companies who continue to amass digital properties on these platforms.
One such push is the latest Malibu mansion in the Sandbox by Paris Hilton. According to reports, Paris will have events for her fans, where they will be able to interact with her and party with her virtually. The partnership between her and the platform has already started to generate traction, with indications showing some of her fans will be attending the metaverse events she is planning.
Sandbox’s price growth for the past few months has also been due to expansion in other markets and countries, with the latest one being in Hong Kong. In addition, reports indicate Sandbox will partner with local companies for their first ever pop-up atelier. Such moves have seen its prices in the markets grow as investors’ perception of the metaverse industry continues to change.
Sandbox Price Prediction
Looking at the chart below, today’s small gains in the market is a continuation of a sideways market that has persisted for the past few weeks. Therefore, my Sandbox price prediction expects the prices to continue trading sideways. Moreover, there is a high likelihood that we may see the continuation of the sideways market for the next few trading sessions, with prices trading below the $1.49 resistance level.
However, if the prices move past the $1.49 resistance level, it will signal a resumption of the long-term bullish trend. My bullish analysis will also have been invalidated.