Axie Infinity Grapples with Challenges
Axie Infinity (AXS), a trailblazer in the play-to-earn (P2E) gaming paradigm, has been grappling with difficulties. The number of its monthly players has plummeted to a record low of under 500,000 in August 2023, a stark contrast to its peak of 2.70 million in February 2022.
This decline in players has adversely affected both the transactions and revenue generated by the Axie Infinity token. Transactions have declined by 11% compared to the previous month, while the price of AXS has experienced modest growth of 9%, rising to $4.60 in September.
The Sandbox’s Bearish Trend
The Sandbox (SAND) cryptocurrency has also been mired in a bearish trend. Its price has remained below both its 50-day and 200-day exponential moving averages (EMA), indicating a sustained downward trajectory. In mid-August, SAND fell below a crucial support level of $0.3500, prompting bearish sentiment and signaling a potential further decline.
SAND’s prices have oscillated within a narrow range of $0.2746 to $0.3500, with buyers attempting to stem the tide. However, there are no discernible signs of a robust recovery for The Sandbox.
Pomerdoge’s Thriving Ecosystem
Amidst the bearish sentiment in the crypto market, Pomerdoge (POMD) has emerged as an outlier, showcasing a remarkable upward trend. Since its inception two months ago, POMD’s value has surged by over 165%, currently trading at $0.0165 during the presale phase.
The project’s presale has raised an impressive $4.9 million, reflecting the strong interest among investors. Pomerdoge’s thriving ecosystem, which includes an upcoming play-to-earn game and a collection of 7,777 NFTs, has captivated both investors and gaming enthusiasts.
These NFTs possess unique attributes and functionalities within the game. The POMD token, currently in its presale phase, provides access to these NFTs. Experts anticipate a substantial increase in Pomerdoge’s value, predicting a potential 17-fold increase by year-end.
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