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Enjin Coin Price Prediction 2023-2032: Can ENJ Price reach $10?

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Enjin Coin Price Prediction 2023-2032

Enjin (ENJ) co-founder Maxim Blagov has stated that the company is focused on adoption. He imagines a future in which millions of gamers use digital items backed by Enjin Coin without even knowing it exists. This is a perfect strategy as gamers would like to play and worry less about technicalities such as the volatility of the coins used. But how will the Enjin Price Predictions steer in this turbulent crypto weather?

Crypto prices are affected by supply and demand, investor and user sentiments, government regulations, and media hype. All of these factors work together to create price volatility. However, Enjin has been highly involved in the gaming industry and aims to increase the revenue of the gaming business and give them a competitive advantage. Investors, however, are keenly interested in technicalities about the coin as they need to keep ahead of the crowd.

For Enjin, It’s difficult to predict where things are headed for 2023, as in the coming months, experts are following things like regulation and institutional adoption of crypto payments to try and get a better sense of the market. The domino effect of exchange crashes like the FTX has given federal regulators even more ammo recently to push for crypto regulation.

A positive outlook is Efinity, the first-ever NFT parachain to launch on the Polkadot network. Purpose-built to remove the barriers to entry to NFTs and decentralized gaming, Efinity simplifies the user experience and economics of digital asset management. As the first gaming platform to boost NFT adoption on Ethereum and authors of ERC-1155, Enjin is now heralding Polkadot and Efinity as the next generation of blockchain gaming.

How much is ENJ worth?

Today’s Enjin Coin price is $0.392150 with a 24-hour trading volume of $17,420,796. Enjin Coin is up 1.06% in the last 24 hours. The current CoinMarketCap ranking is #99, with a live market cap of $392,149,930 USD. It has a circulating supply of 1,000,000,000 ENJ coins and a max. supply of 1,000,000,000 ENJ coins.

A game creator explains that constructing an internal game economy involves “creating value out of nothing,” and making the “nothing”—such as a boost—scarce is one way to accomplish that. How’s that again? For now, let’s start with knowing the Enjin coin before proceeding with the Enjin coin price prediction.

Also Read:

How to Buy Enjin Coin in 4 Easy Steps
• How To Stake Enjin Coin: Earn EFI Right Away

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 in 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.

Gamers can use Enjin Network to create clans and parties and play with friends online. Blockchain-based gaming is gathering heat within the gamers’ community. Gamers can use features like chat while playing blockchain-based games. Also, using the Enjin Network, any player will tokenize items in the game using the Ethereum network.

Gamers use the ERC-20 token on Ethereum and the Enjin Network to develop NFTs like digital swords. NFTs are becoming popular as many artists are entering the community. Even TIME magazine released its own NFTs.

This makes the Enjin coin price predictions quite important as many investors want to buy Enjin coin cryptocurrency.

Enjin Coin Price History 

This section is a historical analysis of the ENJ price before getting into Enjin coin price prediction. The discussion is based on historical data about the ENJ digital coin.

The ENJ coin entered the world of cryptocurrencies on 1st November 2017 at $0.02431. Investors didn’t pay much attention since it was new in the market. The Price of the coin soon began to make significant strides. By the end of 2017, the value of ENJ had jumped by over 600% to reach a closing price of $0.1727, rewarding early investors with massive gains.

On 7th January 2018, the Price of Enjin rose to a maximum of $0.4934, an increase of over 180% from its previous high. The significant price actions of ENJ sparked a lot of interest and led to its listing on important cryptocurrency markets.

In early February 2018, the trading ENJ  price dropped to as low as $0.09134 but soon garnered some momentum and rose to $0.1931 by the end of the month. By the end of June, ENJ had gone bearish, and its value bottomed again to $0.05143 after experiencing tremendous selling pressure. The bears dragged the Price of the Enjin Coin, and it ended with a minimum price of $0.03714 in 2018. 

2019 didn’t start any differently for ENJ, as the coin’s market value dropped to $0.02516 on 6 February 2019. Soon after the dip, Enjin Coin gained momentum with renewed investor backing. Over the coming months, the coin traded within the range of $0.1116 – $0.2225. At the start of the third quarter of 2019, Enjin’s Price began trending downwards, and by October, the crypto had recorded a significant drop in market value to $0.05493. Towards the end of 2019, ENJ’s trend reversed, and it hit $0.1 again. The crypto ended 2019 at $0.08025.

Enjin coin entered the year 2020 with $0.08025 and hit $0.1648 by mid-February. In mid-March, the coin recorded a significant price drop to a value of $0.03627. The coin price trended upwards in the coming months, and it hit $0.2576 in August, raking in massive profits for investors. By the end of 2020, the Enjin coin was trading within a range of $0.138 to $0.1666. This also shows that the Enjin coin has average volatility. 

2021 was the year of crypto, with mainstream currencies and altcoins riding on the bullish wave. ENJ recorded massive gains in 2021, and it hit its all-time high at $4.85 during the November 2021 crypto boom.

ENJ started trading at $2.58 in 2022, and by the end of February, the coin had lost more than 65% of its value from its ATH. The price fall is attributable to the widespread uncertainty in the crypto space since the start of February, leading to massive selloffs of assets.

Enjin Coin New Developments

According to market value, the Enjin coin is among the top 100 cryptocurrencies on CoinmarketCap. It is a part of about 600,000 watchlists, which shows that many aficionados pay close attention to its movement in the coin market. This list includes Enjin coin, but not just due to its affordable pricing. Another reason it’s seen as an excellent cryptocurrency to buy right now is its bright future.

Beam, Efinity, Wallet, Multiple SDKs, and wallet are a few of the technologies offered by Enjin. These instruments are all supportive of the quick trade of NFTs. Developers and purchasers utilize the Enjin currency (ENJ) to access these tools and conduct transactions on the platform. The token’s supply deflates; thus, the more it is used, the rarer it gets, growing in value as a result.

Enjin project has been active over the past month as it continues to offer a wide range of new developments. The most notable one is that the company has launched NFT.io: The newest and most cutting-edge NFT marketplace. NFT stands for Non-Fungible Token and this marketplace allows users to buy, sell and trade NFTs from top developers. The marketplace will also offer support for ERC721 tokens from games like World of Warcraft, Guitar Hero, and many more.

On 15 March 2022, Enjin, as the leading ecosystem for non-fungible tokens (NFTs), launched its flagship parachain Efinity on Polkadot. As the first-ever NFT parachain to launch on the Polkadot network, Efinity will support CryptoBlades and its 1.1 million users, with additional commitment from over 100 games and apps.

The most remarkable development for November 2022 is the launch of Enjin Wallet V.2. This is a crypto and an NFT wallet that has been designed with the latest technologies. The update will allow users to access over 1,200 coins and tokens; including Enjin coin. The NFT.io is a comprehensive marketplace for all NFTs and has an excellent branded domain. Efinity-compatible, it not only boasts great features but also has a user interface and experience that are attractive and uncomplicated.

With the remarkable value of the Enjin coin potentially tripled by the end of 2022, and more updates set to be implemented, the token is certainly one that traders should keep an eye on in the coming months.

Enjin Technical Analysis

Enjin Coin’s price trend in the last 30 days shows the altcoin 0.88%, forming a rising trend.ENJ coin is trading at $0.3958 against the USD and is up 0.23% in the last 24 hours alone. The coin has a market cap of $432,716,083 USD with a circulating supply of 1,092,785,265 ENJ coins and a maximum supply of 1,000,000,000 ENJ coins.

Enjin Coin has formed a triangle pattern on the daily chart and has been consolidating for quite some time. The coin is trading above 20-day EMA and 50-day EMA which suggests strength in the trend. On the upside, $0.41 is seen as a strong resistance level with a break above it will push the price to its all-time high levels of $0.45 and higher beyond. On the downside, strong support is seen around the $0.35 mark which could be tested if the current trend breaks down.

The RSI for Enjin Coin is at 47 in the neutral zone, indicating that neither buyers nor sellers are in control of the market. The MACD shows a bearish crossover, indicating a possible decline in the price of the Enjin coin.

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The Chaikin Money Flow (CMF) indicator is at 0.29 and the money flow index has moved back above zero to indicate buyers are in control of the market. The OBV for Enjin Coin is increasing which suggests that there is a steady accumulation of the coin by investors.

Looking at the Fibonacci Retracement levels, the price of Enjin Coin is currently trading at 23.6% Fibonacci retracement level which suggests momentum in the downtrend. A pullback or reversal could be seen in the coming days if the coin breaks above the 23.6% Fibonacci retracement level.

Overall, Enjin Coin is trading at $0.387 with a slight bullish bias and is likely to witness an uptrend in the near future. The coin looks poised for growth backed by strong technical indicators and could be a good buy at the current price.

Enjin Coin Price Predictions by Cryptopolitan

YearMinimumAverageMaximum
2023$0.50$0.52$0.59
2024$0.74$0.76$0.85
2025$1.08$1.11$1.28
2026$1.60$1.66$1.89
2027$2.42$2.51$2.80
2028$3.47$3.57$4.24
2029$4.96$5.14$5.94
2030$7.19$7.40$8.83
2031$9.97$10.34$12.50
2032$15.36$15.78$17.76

Enjin Coin Price Prediction 2023

The Enjin Coin price prediction for 2023 is a maximum price of $0.59, an average of $0.52, and a minimum price of $0.50.Enjin coin is expected to stabilise its price and increase in value over the next few years due to its strong community support, increasing adoption of blockchain technology across various industries, and a number of partnerships with leading companies.

Enjin Coin Price Prediction 2024

Our Enjin ENJ coin price forecast for 2024 suggests that the Enjin price could reach a maximum price of $0.62, an average of $0.55, and a minimum price of $0.50 by this point in time.

Enjin Coin Price Prediction 2025

According to our Enjin coin price forecast for ENJ, In 2025 the price of Enjin Coin is forecasted to be around a minimum value of $1.08. The Enjin Coin price value can reach a maximum of $1.28, with an average trading value of $1.11.

Enjin Coin Price Prediction 2026

The Enjin coin price prediction for 2026 suggests that the Enjin price could reach a maximum value of $1.89, an average of $1.66, and a minimum value of $1.60. This forecast is made possible due to the increasing demand for blockchain technology and its applications, as well as potential new partnerships and collaborations established over time.

Enjin Coin Price Prediction 2027

In 2027, our Enjin coin ENJ price prediction estimates that the Enjin Coin could reach a maximum value of $2.80, an average price of $2.51, and a minimum value of $2.42.

Enjin Coin Price Prediction 2028

The Enjin coin price prediction for 2028 is a maximum price of $4.24 and an average of $3.57. The minimum price is forecasted to be around $3.47.

Enjin Coin Price Prediction 2029

According to our Enjin coin forecast for 2029, a maximum price of $4.96 could be attained. The average digital asset’s price might trade at $5.14, while the minimum price is expected to be about $4.96 by the end of 2029.

Enjin Coin Price Prediction 2030

The Enjin price prediction for 2030 suggests that the Enjin coin could reach a high of $8.83, an average value of $7.40, and a minimum value of $7.19.

Enjin Coin Price Prediction 2031

According to our Enjin coin price prediction, In 2031 the price of Enjin Coin is predicted to reach a minimum level of $9.97. The ENJ price can reach a maximum level of $12.50, with an average trading price of $10.34.

Enjin Coin Price Prediction 2032

Enjin coin price prediction is bullish as we expect the token to reach a maximum of $26.23 in 2032, while the minimum forecast could be $22.58. The digital asset is projected to trade at an average price of $23.20 by the end of 2032.

Enjin Coin Price Prediction by DigitalCoinPrice

Enjin coin price prediction by DigitalCoinPrice is bullish, with the experts predicting substantial growth in the price of Enjin coin over the long term. According to the ENJ price forecast, a minimum price of $1.49 and an average of $1.70 is expected by the end of 2026. The website’s long-term projection is ENJ coin to attain a maximum of $2.89 in 2029 and a maximum of $7.53 in 2032.

Enjin Coin Price Prediction by Technewsleader

Technewsleader is optimistic about the future of Enjin Coin, predicting that its price can reach $0.78 by 2023 and will continue to increase steadily. The experts at Technewsleader believe that ENJ coin has the potential to become one of the top 10 cryptocurrencies in terms of market capitalization. They also predict that its price will rise to a maximum range of $0.76 to $0.88 in 2024.

Technewsleader’s long-term ENJ price forecast is a maximum of $2.34 for the next 5 years, with a trading range of $4.67 to $5.71 for the year 2027. The market experts expect the price of ENJ coins to continue to grow, and in the next 10 years, ENJ cryptocurrency could attain a maximum of $9.82.

Enjin Coin Price Prediction by Coincodex

Enjin coin price prediction by Coincodex suggests ENJ price could rise by 1.32% and reach $0.393537 by April 29, 2023. Based on Coincodex’s ENJ technical analysis, the current sentiment is Bearish while the Fear & Greed Index is showing 53 (Neutral). Enjin Coin recorded 16/30 (53%) green days with 6.20% price volatility over the last 30 days. 

The technical indicators show the general Enjin Coin price prediction sentiment is bearish, with 2 technical analysis indicators signaling bullish signals, and 26 signaling bearish signals. Coincodex predicts ENJ cryptocurrency could trade at $15.29 if it follows Facebook’s growth. In case Enjin Coin would follow Internet growth the prediction for 2026 would be $1.753783.

Enjin Coin Price Prediction by Industry Influencers

Powered by Ethereum, Enjin Coin (ENJ) is an innovative cryptocurrency that serves as the governance coin of a gaming community platform uniting over 20 million gamers from various spaces. Its mission statement is to offer swift liquidity while introducing software solutions and monetization tools to strengthen communication within its sizable user base. With ENJ, you can expect improved integration between different gaming communities, boosting their overall effectiveness.

Enjin coin’s influential market presence since its inception in 2017 has attracted much attention from market analysts. While ENJ’s price movements depend on the same market forces that affect all cryptocurrencies, experts have been able to make educated predictions about Enjin Coin’s future worth by studying its past and current performance.

For instance, Mr. Legend Crypto explains the current bear market relief rally as a perfect opportunity to accumulate ENJ. He believes that once Ethereum’s Constantinople hard fork has been implemented, Enjin Coin’s price will start to appreciate until the next bull run begins slowly. Other experts like AJ Five explain that ENJ’s huge price pump is expected as the coin is now consolidating around the $0.095 level, which is a great opportunity to enter the market and accumulate some ENJ before it starts rising again.

Conclusion

Enjin cryptocurrency is a highly speculative investment that could see significant growth should the underlying technology prove to be successful. The ENJ coin price predictions are bullish for the medium-to-long term, but in the short term, it is a volatile asset with many risks involved. Investors should consider all factors before entering into this digital currency and balance the risk versus returns ratio accordingly. Enjin should prove to be a good investment for those who can afford to wait and HODL the coin.

Several cryptocurrency exchanges, including Binance, let you buy Enjin Coin. You must move your digital assets to that particular exchange once your trading account has been set up at one of the exchanges that trade ENJ. A wallet system is used to do this.

So, the answer to whether ENJ can reach $10 is yes, but not too soon. The community will have to work more to regain the lost value and gather more adherents by engaging in more visible activities to keep the interest on the coin. So, should you sell your ENJ coin? With three big milestones for ENJ, it is better just to hold or stake, IMHO. What are some major milestones?

The first would be Efinity which you can then stake ENJ for EFI and earn passive income. The second is Enjin Wallet 2.0. And third is that JENJ or Jumpnet is finally being implemented and used. The fourth reason is the bull market pumps trickle down over time, and so, if BTC pumped, next is ETH, then smaller caps like ADA, and next, the 50-150s top market caps, and ENJ falls right into that. You only need to believe.

Always conduct your own research before investing in any asset. Your selection should be based on your attitude toward risk, your market knowledge, the spread of your portfolio, and your comfort level with losing money. Never put more money into anything than you can afford to lose, and remember that previous success is no guarantee of future results.

FAQs

Is it possible to mine Enjin Coins (ENJ)?

Yes, you can mine the Enjin Coin using the appropriate mining setup.

Where to buy ENJ cryptocurrency?

Enjin Coin cryptocurrency is available on various crypto markets, including Binance, Coinbase, KuCoin, Huobi Global, etc.

Can ENJ reach a price of $10?

With the above ENJ price prediction, there are chances that the coin will hit an expected average price of $23.20 in 10 years. In 2032, the Enjin Coin price is expected to reach a maximum price of $26.23. The best way to profit is to stake.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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