Axie Infinity Price Prediction: AXS explodes 22%, but these two NFT games could have more potential in the near term

Once again, the entire crypto market shows a strong movement and is up around 5%. While the most valuable cryptos Bitcoin and Ethereum are roughly in this range, there are some top coins with double-digit price explosions. The best cryptocurrency of the past 24 hours was undoubtedly Axie Infinity – not even Terra Classic (LUNC) or Dogecoin (DOGE) could keep up here. AXS exploded by around 24% and thus also catapulted itself into positive territory on a weekly basis. Can Axie Infinity recover now or is the next sell-off imminent?

At the same time, we want to take a look at two young gaming tokens that could be the better investment in the coming weeks and months. After all, there are definitely indicators of an increasingly bullish sentiment here.

Axie Infinity pumps 24%: 2-week high hit, breakout on 4-hour chart

In the past 24 hours, Axie Infinity has pumped 24% to hit a fresh 2-week high. The AXS token is finally showing a countermovement and bringing profits to the holders again. Despite the strong jump in price, Axie Infinity is still 12% down on a monthly basis, the all-time high of 93% seems unreachable. Nevertheless, buyers are currently returning to AXS, which has allowed Axie to increase in relative strength over the past 24 hours. The volume also rose again significantly. CoinMarketCap reports trading volume up nearly 40% over the past 24 hours.

The $11.70-$11.80 price level is now the next key resistance. Coingecko puts the current 24-hour high at $11.65, still slightly below this resistance level.

On the 4-hour chart, AXS has broken the medium-term downtrend. The SMA 200 was also thwarted with the recent price jump.

Now a consolidation movement between the downward trend and the said resistance level should be pending. The most likely option on the chart would be to retest the breakout level, which would then form a bullish flag which in turn would prompt a move above the $11.70 level. At least technically there is currently a little hope for AXS holders.

Fundamental dangers: Investing in AXS involves high risks

Although speculative capital is also invested to a large extent in AXS due to its high profile, the fundamental development is what matters first. This is where Axie Infinity has some risks that need to be addressed for a sustainable recovery. Axie Infinity is struggling with a massive loss of players – 62% in one year.

At the same time, inflationary tokenomics should also regularly trigger downward pressure, as new tokens are constantly being unlocked. The current market cap is US$1.2 billion and the diluted valuation is $3 billion. While this does not make positive price development impossible, it does make it more difficult. From day 0 (November 4, 2020) unlocking is stretched over 65 months. This means there will be continued selling pressure well into 2025.

New gaming tokens with massive upside: Calvaria (RIA) and Tamadoge (TAMA)

Everyone starts small – this was also true for Axie Infinity when the Vietnamese gaming studio Sky Mavis launched the project in 2018. The success story is remarkable, Axie Infinity made many an early investor rich. Nevertheless, despite the current jump in price, a bearish development could be imminent in the short term. It seems unlikely that the AXS token will be able to sustainably recover in the event of a fundamentally opposite development. The two following NFT games could therefore outperform in relation to AXS in the coming weeks and months, provided that an investment corresponds to one’s own willingness to take risks.

Calvary (RIA)

at calvaria Investors currently still have the chance to participate in the presale of the native RIA token. The fourth of ten phases only started yesterday and more than two-thirds are already sold out. At the current pace, a sell-out seems likely in the next few weeks. Until then, crypto investors have a chance to make massive book profits. A RIA token currently costs $0.025. The price will be raised to $0.055 by the end of the presale, so that the initial investment would more than double thanks to the fixed price increase.

The dual concept behind Calvaria also seems promising, which consists of a free smartphone app and the Play 2 Earn game. Those responsible want to create as few hurdles as possible in order to convert gamers from conventional gaming apps to P2E games. Does this succeed in what Axie Infinity failed to do? After all, the falling number of players is probably the primary reason for the massive drop in value of AXS.

Here to Calvary

Tamadoge (TAMA)

Of the Tamadoge (TAMA) Token experienced a turbulent second half of the year. After the presale ended very quickly, the IEO at OKX was also brilliant. However, after an interim 10x performance, starting from the beta presale price, there was a massive correction movement that Tamadoge (TAMA) token recently drifted to the level of the IEO. Early investors were still sitting on substantial profits, meaning a doubling of their investment. Now, however, there was a positive price reaction yesterday as Tamadoge pumped 20% from $0.25 to $0.030. At the same time, the increase was accompanied by a significantly increased volume in the hourly chart.

Next week, Thursday, the Gate.io listing will be the next event that could fuel demand for Tamadoge again. The Tamadoge course also pumped yesterday when this news was announced.