“The Sandbox (SAND) Price Soars After Gucci Partnership“
The Sandbox (SAND) price has surged to $0.45 this week, marking a 45% increase for November. The recent partnership with fashion giant Gucci has been a major driver of market demand for SAND tokens. As a result, The Sandbox has overtaken Axle Infinity as the most valuable project in the metaverse sector. With the collaboration set to allow gamers to explore Gucci’s fashion history, crypto whales have aggressively bought SAND since the announcement.
Crypto whales, holding between 100,000 and 1 billion SAND, acquired 30 million tokens valued at approximately $13.2 million between Nov. 11 and Nov.16. This buying frenzy has significantly increased their cumulative balances and put upward pressure on SAND price. As retail investors mirror these trades, the price could potentially reach $0.50.
Bullish Retail Traders Seize Control
The SAND price rally is also attributed to the strategic Gucci partnership and bullish buyers taking control of the market over the past month. On Nov. 10, there were 844 receiving addresses that consistently exceeded sending addresses for a prolonged period. This trend has played a crucial role in the SAND price rally.
The chart shows that SAND’s market valuation surpassed $926 million on Nov. 16, making it the largest metaverse project after flipping Axie Infinity.
SAND Price Prediction: Breaking $0.50 Could Catalyze More Gains
With rising whale demand and increased active buying addresses, The Sandbox price is positioned for further gains if it can surpass $0.50 and avoid dipping below $0.35.
Hot Take
The recent partnership with Gucci has had a significant impact on the demand for The Sandbox (SAND) tokens, driving up its price by 45%. With continued bullish momentum and increasing market valuation, SAND’s position as the largest metaverse project is solidified, offering potential for further growth if it can break through key resistance levels.
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