Two virtual worlds and gaming tokens, Decentraland (MANA) and The Sandbox (SAND) have lost users in the past months. The bearish sentiment surrounding both tokens has left investors disappointed and to search for a new project. According to reports, they are currently flocking to Pomerdoge (POMD), a new P2E game with exciting rewards and benefits.
Decentraland (MANA) Sees Reduced Users
Decentraland (MANA) is a 3D virtual world browser-based platform that enables users to acquire virtual land plots as NFTs through the MANA cryptocurrency. Despite its promising prospects, Decentraland has recently experienced a bearish trend.
Meanwhile, there was a brief rebound last week. Unfortunately, Decentraland faced another 5% correction this week, leading to a retest of $0.35 on Monday, August 7th. Currently, MANA is trading at $0.369668, a 0.33% price increase in the last 24 hours. Additionally, the token’s price has dropped by 2.20% in the past 7 days.
The $0.34 support level is very for bulls as Decentraland could face more price dumps if bears breach it. Users are leaving the platform and moving to new promising projects like Pomerdoge. According to on-chain data from Santiment, the growth of the Decentraland Network has dropped from 782 to 209 new wallet addresses between July 24th and August 6th.
Amazing! We have now raised over $1,000,000 in exactly three weeks. We are thrilled at the community we have, everyone says they have the best but we truly believe we are up there!
Now onto the next milestones, we have almost 1,500 holders now.
We really want to become the… pic.twitter.com/CaIt64n0DN
— Pomerdoge (@pomerdoge) August 17, 2023
The Sandbox (SAND) Bearish Ahead of Token Unlock
The Sandbox (sand) is a decentralized virtual world where creators can host virtual events and custom games. At the time of writing, SAND token is trading at $0.406215, a 2.25% price increase in the last 24 hours. However, the token is still down 2.22% on the 7-day chart.
Currently, The Sandbox has formed a “falling wedge” which could signal a bullish or bearish trend depending on price movement. If this pattern holds true, SAND could drop to the support line at $0.28 in the Vale of a bearish trend. Importantly, the falling wedge also functions as a bullish reversal formation.
It projects a potential rise equivalent to the wedge’s maximum height if the underlying token manages to breach the resistance. Nonetheless, SAND bulls must intensify their efforts to breach the top of the wedge. On another front, The Sandbox is set to unlock 332 million SAND coins on August 14th.
Decentraland and The Sandbox Users Shift To Pomerdoge (POMD)
Pomerdoge (POMD), a new entrant in the play-to-earn gaming sector, has swiftly risen to challenge established players like Decentraland and The Sandbox. Notably, it distinguishes itself by introducing a range of captivating features.
What is intriguing is that Pomerdoge finds itself during its presale stage. Yet, it has already managed to amass significant market traction. Investors are drawn to the prospect of securing a portion of the game’s earnings.
Additionally, this peer-to-peer gaming experience aims to foster active engagement and healthy competition. With a leading social infrastructure, many experts in P2E have predicted that Pomerdoge could transform the fast-growing industry.
Pomerdoge also offers holders enticing benefits like discounts, staking rewards, and exclusive access to rare NFTs. POMD tokens are currently priced at just $0.007, presenting an affordable entry point for investors.
Find out more about the Pomerdoge (POMD) Presale Today:
Telegram Community: https://t.me/pomerdoge
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