It is time to analyse what has been happening to UFO, one of the coins that we saw explode in late 2021, which could offer investors a good opportunity in the coming months. This digital asset has been affected by the bear market in the crypto industry but the trend could soon change direction.
Therefore, in the following few sections of this blog, we will share with you what UFO Gaming is, all the information you should know about UFO price, and whether this virtual currency could reach $1 in the future or not.
UFO Gaming is a decentralized gaming platform that bridges the gap that exists between traditional games and blockchain technology. Moreover, this platform offers the possibility for users to earn while playing, something called play-to-earn (P2E).
The company presents a wide range of games that are set in galaxies and different dimensions. Thanks to relying on distributed ledger technology, UFO Gaming lets players own in-game items and engage in a decentralised Dark Metaverse that offers players new and exciting opportunities to earn in-game revenue.
Finally, the team behind UFO Gaming is partnering with different gaming studios around the world to offer reliable solutions to players.
UFO Gaming, like many other cryptocurrency projects in the market, continues to upload content on social media networks and promote different marketing campaigns that attract new players and users.
At the same time, UFO Gaming continues to release new games on top of its platform. One of the latest games to be added is Super Galactic PVP.
Focusing on its price, we see that this project experienced a fast and rapid price increase in late 2021. At the end of November 2021, UFO reached an all-time high of $0.000046 per token. This was very close to the moment in which Bitcoin registered an all-time high of over $69,000 in some exchanges.
Therefore, we saw that this coin followed the market, at least for some months. Now, there is a bear trend that has pushed the coin lower and that copies the general trend of the cryptocurrency market. Let’s not forget that the crypto industry has been affected by the current monetary policy to raise interest rates after the monetary expansion that took place during the COVID-19 crisis.
It is clear that UFO Gaming is especially affected by this type of macro environment, considering that this is not among the most established virtual currencies and it has been released a few months ago. Therefore, UFO is considered yet a young digital asset, which could disappear or break new records in the coming months (basically, a high-risk asset).
It will be very important to follow what the market could do in the coming months, as this could have a clear impact on UFO and the whole crypto market. If we want to understand where UFO Gaming price is going in 2022, then we should analyse many different variables.
These are some of the technical analyses that investors and traders are currently doing when it comes to UFO/USDT. These experts will help us understand what could happen with UFO price and whether this virtual currency could skyrocket in the future.
- This expert considered that UFO/USDT could continue to grow during the first part of the year, but this did not happen. Indeed, as soon as UFO broke from the upward trend and moved lower, the coin reached a bottom close to $0.00000677. The trend shared by this analyst earlier this year seems to be far from current prices.
2. This cryptocurrency expert believed that it was possible for UFO to recover from a downtrend that the coin experienced during the first weeks of 2022. Nevertheless, this did not happen and the coin continued to move lower, experiencing a similar situation as the one that affected the whole cryptocurrency market in recent months.
3. For this crypto expert, UFO Gaming was traded in a descending triangle where its lower boundary worked as a support level for several months now. When the price broke outside the triangle, the support level was maintained for some days and the price started to move higher. There was a possibility for UFO to grow as much as 30%.
Nevertheless, the coin continued to move lower, but it did not hit the target expected by this analyst (85% down).
4. This UFO/USDT trading analyst believed that the virtual currency could be traded in a range between $0.00000670 and $0.00003319. However, this did not happen. There were also other support and resistance levels at $0.00002349, $0.00000898, and $0.00000670. But the coin fell even lower over the last months.
5. For this trading expert, UFO was very close to a support zone that allowed it to bounce and start a new bull trend in recent weeks. This trend has shown to be very positive as the coin moved from $0.000000934 to $0.000002001. The possibilities to continue moving higher exist, but there are some key levels to pay close attention to. Some of these levels include $0.000002211, $0.000004080 and $0.000007179, among others.
The UFO token is a key part of the UFO Gaming ecosystem. The goal of this token is to power all the initiatives related to the metaverse called Dark Metaverse. Therefore, this coin is a key part of the entire world that has been built on top of this project.
Thanks to this token, players can earn rewards, exchange their tokens for items, and other digital currencies, and participate in different events. In the future, new solutions could be built on top of the UFO gaming ecosystem that would require the use of UFO tokens.
It is quite difficult to predict what could happen to UFO in 2022. Most analysts considered that the coin had some kind of upside. However, the market has been quite hard for virtual currencies during the first part of the year.
According to what analysts said, we could see UFO price reaching $0.00001 in 2022 if the market continues to move higher. Nevertheless, it remains far from its all-time high. That means that the coin might require more time to recover and hit new highs.
It is highly unlikely that UFO would reach $1. This is due to the fact that UFO has a very large total supply of tokens. Thus, having a price of $1 per token would put UFO at a market valuation of $25 trillion, which is impossible at the current USD valuation.
Therefore, we should be realistic about what we could expect from UFO in the near future. Definitely nothing close to $1, but more likely a price per coin for UFO in 2022 would be around $0.00001.
Based on the estimations, here are the following price predictions for UFO.
- UFO price prediction for 2022: $0.00000085 – $0.00001
- UFO price prediction for 2023: $0.0000005 – $0.00002
- UFO price prediction for 2024: $0.00000005 – $0.00005
- UFO price prediction for 2024: $0.000000005 – $0.0001+
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