It is the product of a Metaverse-based project The Sandbox (SAND) has attracted attention with its bullish momentum this week. While the sandbox rally was not affected by the downward course of the crypto currency market SAND in the course of a week, he almost doubled his level.
Will the Sandbox Hurricane Continue?
Sandbox has risen by over 87% this week, opposing the general market trend. Making a big impact on investors SAND, it managed to cross the $4 zone. According to experts, this rally was not born from FOMO, similar to the others. FOMO investors who bought during the hype faced losses during the 28% correction that followed. However, the Sandbox does not signal a significant correction when plotting an organic growth chart.
SAND, which has gained popularity, is among the crypto coins that have been included in the radar of experts dec the metaverse universe has created an agenda. SAND while maintaining its upward trend, it is trading at $4.14 as of the time of writing of this article.
How Should Investors Act?
SAND it becomes a whale token. So much so that whales represent 85% of the entire supply of SAND. Whale transactions reached average daily take-up rates of $40 million on average this week. However, due to the fact that the volume of 546 million dollars is allocated only to whales, 12% of individual investors have a limited impact on price movements.
With the increase in social volume and popularity, new investors can be expected to jump on the Sandbox train. In addition, the growth of the network continues to increase every day. In addition The Sandbox the correlation of Bitcoin with 0.5 marks the negative zone. In this regard, investors can follow this indicator for possible price movements. If this correlation rises to 1.0, SAND can be expected to follow the broader market trend.