Enjin Coin Price Analysis: Why Did The Price Reach The Heights Of 70%?

Enjin Coin Price Analysis: Why Did The Price Reach The Heights Of 70%?

March 14, 2019

Enjin Coin is a cryptocurrency established on a modular blockchain development platform to create, integrate and scale tokenized gaming assets.

Enjin coin’s low market cap and explicit use case fixed the stage for market struggles. The previous year has been full of these real struggles for the coin.

With the great crypto crash in Q1 2018, ENJ dropped in February — soon hitting prices below $0.01 USD by mid-March. In May, with the prices, reaching $0.20 resulting in a quick recovery. However, at the end of the month, the decline started a slow but steady pace that has not receded since.

A falling market trend prevailed throughout Ethereum-based tokens and the entire cryptocurrency market in 2018. It is no surprise that ENJ, an ERC20 token, dropped alongside the rest of the market. Moreover, 95 percent value of the coin dropped from its December 2017 all-time high.

However, the coin has shown resiliency since mid-December, fluctuating at or below the $.05 mark. If this support remains, Enjin may have found its low — providing support for future gains.

However, in 2019 the partnership with Samsung at the launch of Galaxy S10 gave the token’s a huge boost and on March 9th the prices had a massive 70% price increase. A lot of traders who caught the rally made handsome profits. But later the prices came down slowly but it’s still steady, with the collaboration of Samsung, Enjin looks to grow more this year.

Do you think Enjin coin will be benefitted in the long term? Share your thoughts and ideas.

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