What is the Enjin Coin?
Enjin coin is an ERC-155 token and an ERC 20 token that relies on the Ethereum network to support smart contracts and payments. Its supply is finite, with a market cap of 1 billion units. It was first announced in July 2017 and launched on the Ethereum network in June 2018.
Enjin coin supports the creation and use of virtual goods. You can create cryptocurrencies that are backed by the Enjin coin.
Any person mining on the Enjin Ecosystem has to use the Enjin coins. They withdraw the correct quantity of ENJ tokens from their wallets and lock them within the assets they create. This way, the tokens are removed from the marketplace to create scarcity.
It is also the first crypto to be used in the gaming industry. Enjin coin is innovative crypto and is expected to transform the video game industry. The Enjin network blockchain gaming community has more than 20 million users.
Enjin coin price history
This section is a historical analysis of the ENJ price before we get into Enjin coin price prediction. The discussion is based on historical data (historical data) about the ENJ digital coin.
The ENJ coin entered the world of cryptocurrencies on Nov 1, 2017, at $0.22. Since it was new in the market, investors didn’t pay much attention to it. The price began to make a significant rise. By the end of 2017, the price stood at $0.16.
On January 8, 2018, the price of the Enjin token rose to $0.49. This rise made it to be listed on most cryptocurrency markets.
In February 2018, the trading price declined to $0.09 but rose to $0.23. By the end of June, it had hit $0.052 after experiencing tremendous selling pressure.
The bears dragged the price of the Enjin Coin, and it ended with a minimum price of $0.04 in 2018. The cryptocurrency price had risen to $0.24 by March of 2019. The crypto had recorded a significant drop by October and had a value of $0.05. By the end of the year 2019, the Enjin price was $0.08.
Enjin coin entered the year 2020 with a value of $0.07. In mid-March, the coin recorded a significant price drop to a value of $0.04. The price of the coin hit $0.23 in August and $0.11 in November.
By the end of 2020, the Enjin coin was trading at an exchange value of $0.13. This also shows that the Enjin coin has average volatility.
To perform technical analysis on the ENJ token, you can use a platform like a wallet investor. Such platforms can also help you to predict the future values of crypto assets for investment advice.
The following sections will be about Enjin coin price prediction.
Enjin coin price prediction 2021
This section is about the Enjin coin price forecast for the year 2021.
At the beginning of the year 2021, the ENJ token was trading at $0.13. The token price started to show a bullish trend, and the current price of the Enjin coin is $3.48. The current ATH of the Enjin coin stands at $4.0, and it evolved in April.
On 14 April 2021, 4:04: 25 AM GMT, Enjin Coin price showed a temporary retracement, which came after the Coinbase announcement hype faded away.
Enjin then surged by $2 in May. On May 19, Enjin coin ENJ price dropped to $1.20. Since then, coin Enjin has not recovered from the market crash.
However, if the community focuses on minimizing the transaction fees, the ENJ price may escalate. Additionally, widespread adoption of the ENJ smart wallet may push the price to ENJ USD 2.851.
On the other hand, the transactions per second (TPS) rate of the Enjin coin in the crypto market is only 30, which may pull the Enjin price to minimums at $0.650.
Enjin Current Price
Enjin coin is trading around the $1.60 zone on the 10-day chart below captured on September 16th, 2021. The coin has already crossed the $1.5 target and is establishing momentum towards the $2.0 upper target.
Granted the hype surrounding NFTs and the Metaverse, a coin such as ENJ is set to grow in days to come. ENJ coin has the potential to deliver 100X its all-time high by the end of 2022. The hourly charts indicate ENJ price has been trading along with a bullish trend and inclined towards consistent demand action. The technicals are clearing all profit-booking attempts around the 200-DMA support -thereby cementing the possibility of further gains.
Meanwhile, the MACD is also showing positivity and lies in the overbought region. Which further clarifies our bullish perspective for the Enjin coin. Finally, the RSI is leaning towards the buyers’ zone as it exists in the neutral zone.
Enjin coin price prediction 2022
From the above Enjin coin price prediction, the price may close on a bullish note at the end of 2021.
If this Enjin coin forecast happens, then the Enjin price may start with an uptrend at $2.907 in 2022. However, if this doesn’t happen by the end of 2021, the market price of the Enjin coin may begin with a bearish trend in 2022 at $0.659.
If the Enjin platform is enhanced to bring transparency and flexibility to the crypto and blockchain technology, the coin may hit a maximum price of $4.989 before the end of 2022.
However, in case the cryptocurrency market crashes, the Enjin coin price may fall to $1.715. If all goes well, the Enjin coin may hit an average market price of $2.805.
Enjin coin price prediction (beyond 2022)
Digitalcoin has forecasted bullish Enjin price predictions. According to them, the market price will increase by 300% by 2028. However, it has a conservative Enjin future price target.
They have predicted that the price will hit USD 1.87 by the end of 2021, USD 2.24 in 2022, USD 2.76 in 2023, USD 2.89 in 2024, USD 3.8 in 2025, and USD 4.25 2026. They have also predicted that the Enjin coin Enj price will hit $5.55 in 2028.
If this price forecast works, Enjin coin may enter the top 40 cryptocurrencies in the crypto market like bitcoin and Ethereum. This will be great news to cryptocurrency investors.
Is Enjin coin a good investment?
The price of the Enjin coin has risen significantly in 2021 and gained massive popularity among investors.
Enjin coin also has a stable blockchain network and a great founding team. When put together, these factors are a clear indication that the Enjin coin is a crypto to watch. Thus, ENJ may be one of the most profitable assets worth investing in. You can buy it from the Binance cryptocurrency market.
Final verdict on Enjin
Enjin coin depends on the Ethereum network for payments. It was the first crypto to be used in payment systems in the gaming industry. It is expected to bring a huge transformation to video games. Since it runs on the Ethereum network, you can create a smart contract.
Enjin coin has recorded a major price increase since its inception in 2017. This means that the coin will see a further increase in market price and popularity in the future.
Is it possible to mine Enjin Coins?
Yes, you can mine the Enjin non-fungible tokens.
Can the Enjin coin (ENJ) hit an exchange value of $10?
In the Enjin coin prediction section, it was clear that this digital currency has a bright future.
Thus, with the above ENJ price prediction, there are chances that the coin will hit an expected maximum price of $10 in the next few years.
Who founded Enjin Coin?
The Enjin crypto coin was founded by Maxim Blagov.
Is Enjin Coin (ENJ) a profitable investment?
The Enjin coin can be a profitable investment for the long term.
It is one of the most valuable blockchain assets that we’ve today.