Market Stats and Forecasts
Enjin Coin Description
ENJ is a native cryptocurrency of the Enjin Coin platform. This is a blockchain-based ecosystem specially designed to support distribution, creation and management of virtual properties. It operates on the popular Ethereum blockchain and takes advantage of its security and decentralization. Let’s understand how ENJ works in detail. The main concept behind ENJ is to resolve the issue of backing in-game items with real-world value. On this platform developers can easily integrate ENJ into their games to create virtual goods.
These items are then tokenized which later represented as unique digital assets on the blockchain. The complete process ensures ownership, scarcity and authenticity of in-game items. To sustain the value of ENJ, the platform employs a melt and mint mechanism. Where virtual goods are sold, the equivalent value of ENJ is removed from the circulation. On the other hand, when new items are created, ENJ is added to the supply to ensure a stable token economy. When it comes to use cases of ENJ, it contributes a lot to the gaming industry by enabling developers to create truly ownable in-game items with real-world value.
Players can sell, trade or gift these items on secondary marketplaces by maintaining a vibrant economy within the game. Apart from gaming, ENJ can also be used to tokenize digital collectibles such as trading cards, digital art, virtual real estate and much more which creates new possibilities for creators to monetize their work and help them to create valuable portfolios. When it comes to trading, ENJ tokens can be traded on reputed crypto exchanges like Binance, Bithumb, Uniswap and Balancer. Undoubtedly, ENJ has shown significant potential to become a real winner in crypto industry. With the growing adoption of blockchain technology and the high demand for digital ownership, ENJ is now in a good position to play crucial role in the future gaming and digital asset industries.
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of Enjin Coin, Our analysis, guided by the machine learning experts, yields forecasts for Enjin Coin price trajectory up to 2024. With a comprehensive understanding of Enjin Coin historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 3 and an error value of 0.70%.
For the year 2024, our analysis indicates a projected yearly low of $0.334, with the high anticipated to reach $0.459. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-10-21 | 0.347 | 0.354 | 0.361 | -3.42 |
| 2024-10-22 | 0.354 | 0.362 | 0.373 | -1.29 |
| 2024-10-23 | 0.354 | 0.37 | 0.384 | -0.20 |
| 2024-10-24 | 0.358 | 0.37 | 0.385 | 0.89 |
| 2024-10-25 | 0.362 | 0.374 | 0.385 | 2.00 |
Enjin Coin Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,Enjin Coin is forecasted to achieve its peak value in 2025 at approximately $0.683, while potentially dipping to a low of $0.342. The average trading value during this period is projected to hover around $0.609.Enjin Coin Price Prediction 2026
In 2026, Enjin Coin is anticipated to potentially reach its peak value of $1.04, with a possible lower value of $0.569. The average trading value for this period is estimated to be approximately $0.936.Enjin Coin Price Prediction 2027
As we look ahead to 2027, the trajectory of the Enjin Coin coin may offer investors unexpected turns. Projections suggest peaks hitting $1.68 and lows stabilizing around $0.86, with an average trading value resting near $1.51.Enjin Coin Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the Enjin Coin coin. Projections point towards a maximum value of $2.39, a minimum of $1.25, and an average value of approximately $2.15.Enjin Coin Price Prediction 2029
Our market analysis indicates optimistic prospects for the Enjin Coin crypto in 2029, with projected peaks at $3.87 and floors at $1.89. Moreover, the average trading value of this coin is anticipated to hover around $3.48.Enjin Coin Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the Enjin Coin token. Projections indicate highs near $5.66, potential lows around $3, with an average value of about $5.16.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $0.171 by the Oct 21, 2024. The Relative Strength Index (RSI) stands at 1.3419, indicating a Rise market stance. Overall, while the long-term forecast is Sell.
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Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Sell
The Enjin Coin is predicted to surge by 6.07% to $0.373 by Oct 29, 2024, though current indicators show a Bearish sentiment with 14 out of 30(47%) green days and a notable 9.07% price volatility over the past month.
