Predicting the Future of Axie Infinity Price: Will AXS Experience a 25% Surge to New Peaks?

Predicting the Future of Axie Infinity Price: Will AXS Experience a 25% Surge to New Peaks?

Axie Infinity Price Surges 25% as Unique Active Wallet Addresses Increase

The price of Axie Infinity (AXS) has experienced a whole lot of surge, growing by 25% in the previous 3 days and reaching an intra-day high of $5.15 on August 14. Nonetheless, the token faced resistance from the 50-day Exponential Moving Average (EMA) at $5.04, causing a 6% pullback to $4.69.

This unexpected surge resulted in the liquidation of nearly $1000 in short positions, which is an unusual occurrence compared to recent months. The rally was mainly attributed to developments in the gaming ecological system, with Axie Infinity playing a central role.

Axie Infinity Ecological system Leads Origins Season 5 Off-Season

A tweet from Axie Infinity revealed that the project is leading the Origins Season 5 Off-Season and preparing for Season 6. During the off-season, players have the chance to gain  bonus such as rare runes, charms, moonshards, and promotion boxes for their Starter Axies by defeating opponents in the Arena.

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This presents an opportunity for smart participants to improve their skills or take a break before starting fresh in the next season.

Axie Infinity’s Price Rise Drives Increase in Unique Active Wallet Addresses

Regardless of challenging market conditions, the price surge of Axie Infinity has inspired optimism between investors. As a result, AXS token holders saw gains of up to 25% within 24 hours.

The decentralized finance (DeFi) app  likewise experienced a whole lot of increase in unique active wallets, with a rise of 77% to reach $24,300. This surge in active deposits further fueled positive trend momentum.

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Investor Sentiment Suggests Bullish Future for Axie Infinity

Investors’ willingness to grow their portfolios is evident from the decrease in the number of tokens held in wallets on exchanges. The supply of tokens dropped from 2.7 Million to 2.1 Million, representing a fall of 600,000 tokens worth approximately $2.85 million.

This indicates a strong buyer momentum and suggests a positive outlook for Axie Infinity’s price moving forward.

Axie Infinity Price Prognosis and Technical Analysis

The price of Axie Infinity is as of now at $4.73 but was rejected by the 50-day Exponential Moving Average (EMA) at $5.04. If buyer momentum increases over this level, the price could climb to the 100-day EMA at $5.60.

A decisive turn  of this resistance to facilitate could pave the way for AXS to target the $6.32 roadblock or potentially reach the 200-day EMA at $6.95, indicating a whole lot of 50% increase from current levels.

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The Relative Strength Index (RSI) likewise suggests growing momentum.

AXS Alternative: WSM

WSM is an alternative cryptocurrency project that has gained popularity between more than a Million retail investors. The project has positioned itself as a reliable advocate following the 2021 Meme Coin stocks wave and has evolved prominent in the 2023 presales.

WSM offers a staking feature that allows community members to earn passive income. As of now, almost $330 Million has been staked, with stakers anticipating up to 61% in annual percentage yield (APY).

Hot Take: Axie Infinity’s Surging Price and Growing Ecosystem

The recent surge in the price of Axie Infinity, accompanied by an increase in unique active wallet addresses, demonstrates the growing interest and momentum behind the project. With developments in the gaming ecological system and the upcoming Off-Season Leaderboard Rewards, Axie Infinity is positioning itself for further success.

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Investors and players similar have the chance to capitalize on this positive trend trend and potentially earn bonus while sharpening their skills. The future looks promising for Axie Infinity as it continues  to lead the way in the cryptocurrency gaming world.

Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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