Enjin (ENJ) Price Prediction 2023-2030: Will ENJ Price Hit $1 Soon?

Bits Logics Team . 12th Sep 2023

• Bullish Enjin (ENJ) price prediction ranges from $0.05 to $0.8
• Analysis suggests that the ENJ price might reach above $0.65.
• The ENJ bearish market price prediction for 2023 is $0.05.

Enjin (ENJ) Price Prediction 2023-2030 Overview

What is Enjin (ENJ)?

Enjin is a company that provides an ecosystem of interconnected, blockchain-based gaming products and Enjin Coin (ENJ) is a project of Enjin. Enjin’s flagship offering is the Enjin Network. The Enjin network is a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.

Enjin Coin serves as a digital store of value that backs blockchain assets, including NFTs, created using the Enjin Platform. This means that each NFT minted using ENJ contains a certain amount of ENJ locked within it, providing it with real-world value.

Enjin helps game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold, and traded with real-world value.

The Enjin Coin can reserve value that can be redeemed or traded by users. This adds an element of intrinsic value to digital assets, making them more appealing to collectors and users.

ENJ-backed assets benefit from the transparency and scarcity features of blockchain technology. Users can verify the authenticity and scarcity of these assets on the blockchain, which enhances their desirability.

Furthermore, it offers instant liquidity as these coins can be unlocked and traded on various cryptocurrency exchanges. This liquidity enables users to buy, sell, or trade these assets more easily.

Enjin (ENJ) Market Overview

Enjin (ENJ) Current Market Status

The maximum supply of Enjin (ENJ) is1,000,000,000 ENJ, while its circulating supply is 1,000,000,000 ENJ, according to CoinMarketCap. At the time of writing, Enjin is trading at $0.2385 representing 24 hours increase of 2.92%. The trading volume of Enjin in the past 24 hours is $39,600,282 which represents a 55.14% decrease.

Some top cryptocurrency exchanges for trading Enjin are Binance, Bithumb, Uniswap (V2) and Balancer.

Now that you know Enjin and its current market status, we shall discuss the price analysis of  Enjin BTC for 2023.

Enjin (ENJ) Technical Analysis 2023

When looking at the chart above, we can see that ENJ has been on a downward trend. However, during the mid-week of June 2023, ENJ obtained support and thereafter it is consolidating. Currently, the Super trend indicator denotes that ENJ is in a downtrend. Additionally, ENJ is now testing the SMA and there seems to be some buying momentum building up for ENJ. This may take ENJ above the SMA. 

The RSI indicator reads a value of 42 and it is traveling downwards towards the signal line. If this motion continues, then, the RSI could fall below the signal line and go bearish. 

When looking at the Elder Force Index, we can see that the EFI reads a value of 152K and the line is going down. As such, there may be sellers in the market.

Enjin (ENJ) Price Prediction 2023

We can see that ENJ is currently trading inside a falling wedge. Once ENJ breaks out from the falling wedge conventionally, there is a chance that it could reach $0.77 as shown above. However, its path to this resistance level could be hindered by the $0.55 and $0.65 levels. This breakout could happen once ENJ touches the lower trend line. 

On the other hand, if ENJ breaks below the lower trendline of the wedge, then, we may see it reaching out for help from the $0.12 level. If the above-mentioned level is broken, then ENJ might seek assistance from the $0.05 level. 

Enjin (ENJ) Price Prediction 2024 

As there will be BTC halving in 2024, the masses will expect a positive trend in the market and there is a high chance that investors could accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum spike for BTC. Hence, ENJ also could trade at a price, not below $0.77 by the end of 2024.

Enjin (ENJ) Price Prediction 2025

Enjin may harvest the after-effects of the Enjin halving and is intuitively expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, ENJ will continue to rise in 2025 forming new resistance levels. It is expected that ENJ will trade beyond the $5.5 level.

Enjin (ENJ) Price Prediction 2026

After a long period of bull run, the market may start to correct the price of BTC. During this period there could be a bearish sentiment, as such BTC could tumble into its support regions. During this period of price correction, ENJ could lose momentum and be way below its 2025 price. As such, it could be trading at $3.1 by 2026. 

Enjin (ENJ) Price Prediction 2027

There is a tendency for traders to expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Enjin halving in 2028 could evoke excitement in traders. As such, this excitement may be reciprocated in ENJ’s prices and we could expect Enjin to trade at around $2.6 by the end of 2027. 

Enjin (ENJ) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Enjin halving, there will be a positive sentiment in the market. As such, this may be reflected in the price of BTC. Hence, ENJ would be trading at $3.9 after experiencing a considerable surge by the end of 2028. 

Enjin (ENJ) Price Prediction 2029

2029 is expected to be another bull market as the BTC halving takes effect. In tandem with the stable market sentiment, ENJ could be trading at $7.8 by the end of 2029.

Enjin (ENJ) Price Prediction 2030

After witnessing a bullish run in the market, BTC and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, ENJ could be trading at $6.

Enjin (ENJ) Price Prediction 2040

The long-term forecast for BTC  indicates that it has the potential to reach a new all-time high(ATH). As this will be the year of BTC halving people would be excited and the buyers would be accumulating ENJ. Hence, the price of ENJ could be trading at $20. 

Enjin (ENJ) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such ENJ could reach $45.

Conclusion

If investors continue showing their interest in ENJ and add these tokens to their portfolio, it could continue to rise. ENJ’s bullish price prediction shows that it could reach the $0.65 level. 

FAQs

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Bits Logics and its affiliates will not be held liable for any direct or indirect damage or loss.