The Sandbox (SAND) was one of the main stand-out performers in 2021. The coin, and by extension most metaverse coins, saw insane gains. But since January, investors have been selling off SAND and as a result, the coin has literally crashed from its 2021 highs. But this also offers a long-term buying opportunity and here is why:
Despite the price crash, The Sandbox metaverse continues to report decent growth.
The crash also means that SAND is the cheapest it has been in months.
We expect the coin to grow massively as metaverse adoption grows.
Data Source: TradingView
The Sandbox – Price prediction
In the short term, there is very little to suggest that SAND will rally decisively. This has got nothing to do with the coin. Market conditions in crypto are quite uncertain and as you would expect, coins like SAND would struggle. The coin is now trading at slightly above $1. This is way lower than we expected at this time of the year.
SAND will likely surge towards its next resistance zone of $2.68 but it will be hard to cross that mark. Instead, expect more volatility in June as the market stabilizes. The $1 price is however the ultimate entry point for long-term SAND buyers.
It’s hard to imagine the coin hitting this price ever again. And when you consider the potential that SAND has, this is perhaps the best opportunity to stock it up.
How soon will SAND recover?
Not very soon to be honest. The problem with crypto right now is that it’s correlating with equities. As stocks have fallen, crypto has also followed suit. It means that investors are worried about global economic concerns and geopolitical tensions.
So, until we start to see some improvements in equity markets, SAND will likely remain suppressed. However, the coin has the potential to offer 5x this year alone.
This post first appeared on: Coinjournal