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Cryptocurrency markets show that metaverse-focused tokens are not as attractive as before. This is not surprising. Periodic hype tokens can reach significant valuations, but it is not possible to maintain this enthusiasm for long. SAND and others lost investor interest as new tokens in various fields, including artificial intelligence, gained attention.
Axie Infinity (AXS) June Predictions
In the past 30 days, the total value of cryptocurrencies increased by 17%. Bitcoin rose above $70,000 again after dips below $60,000. It couldn’t sustain this for long due to many developments affecting the price. Even on May 31, we saw sales with the news of the Japanese crypto exchange DMM Bitcoin being hacked. So, what are the June predictions for AXS Coin?
Although it is the most popular initiative in the play-to-earn field, its price only increased by 11%. Subsequently, the price falling below the 20-day EMA indicated that investor interest was starting to wane. The 20-day EMA is an important level for predicting short-term price movements as it tracks an asset’s average price over the last 20 days.
If the price falls below this, investors receive a sell signal. If the selling pressure continues, it would not be surprising for the AXS Coin price to drop to $7.3. We could then see a new decline towards $6.76.
The Sandbox (SAND) June Predictions
There has been little activity here for a long time. The SAND Coin MACD indicator shows a sell signal as its short-term average falls below its long-term average. The weakening hype in the metaverse area has been ongoing for a long time. AI, PolitFi, new meme coins, and RWA tokens have overshadowed metaverse altcoins. Buying metaverse lands from listing sites is a thing of the past. We mentioned back then that this could lead to significant losses in the long run.
However, the adoption of AI-supported story and image creation by existing strong metaverse initiatives could change this situation. The June prediction for SAND Coin indicates a risk of falling to $0.36 if it closes below $0.4. This situation could change if we don’t see a sell-the-news event after Bitcoin’s abnormal rise and ETH ETF listings.
