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Enjin (ENJ) Price Prediction 2024/2025/2030

10 mins
Updated by Ish Bautista
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Blockchain-specific gaming is in its ascendency. Direct gaming platforms like Gala Games, Axie Infinity, and Sandbox are getting the majority of developer and investor attention. But here, we shift our focus to Enjin — a different yet highly innovative web3 gaming project. Enjin deals in blockchain-driven gaming products and comprises the Enjin Network and its native Enjin Coin or ENJ. This Enjin Coin (ENJ) price prediction piece will explore this Ethereum-based ecosystem in depth.

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Enjin Coin price prediction and the involved fundamentals

Firstly, the Enjin platform isn’t a new entrant into the gaming space. In fact, Enjin was formed in 2009. Over the past 14 years, it has added over 20 million users to its network.

“Take ownership of your private keys with Enjin Wallet!”

Witek Radomski, Founder of Enjin Coin: X

In 2017, Enjin ventured into the token space by running an ICO (Initial Coin Offering). Currently, the Enjin network is more of a blockchain-driven ecosystem where users can store, host, and trade in-game assets using the native token, Enjin Coin (ENJ). In simple terms, you can create in-game assets using the Enjin Network, backed up by ENJ. 

Enjin, after its blockchain foray, made in-game assets liquid and tradable. With that, it grew into the in-game NFT niche, courtesy of the ERC-1155 token standard that it supports. 

In this Enjin Coin price forecast, we will focus on ENJ. Here are some key features of the native ERC-20 token.

  1. It helps back virtual assets and makes them more liquid.
  2. The token economics model is anti-inflationary.
  3. It is compatible with most crypto wallets.

Overall, the Enjin ecosystem and the Enjin Coin look substantially strong, with the blockchain gaming market growing daily.

Enjin Coin price forecast and tokenomics

The main utility of the ENJ is to provide access to virtual assets. Game developers can use the Enjin API and ENJ tokens to create their own assets. And remember, we used the term anti-inflationary. This means that creating assets requires ENJ tokens to be burned, making the supply scarce. 

Enjin Coin supply distribution: Messari
Enjin Coin supply distribution: Messari

Coming to the supply cap, ENJ has a fixed supply of 1 billion tokens. Currently, the circulating supply is 100% of the total supply. Also, the initial supply breakdown shows that 80% of the ENJ tokens went to investors — adding more transparency to the project.

Did you know? Enjin Coin came across as one of the few projects to bring in the concept of NFTs, allowing gamers and even developers to create and manage virtual goods.

The anti-inflationary stance makes ENJ a good investment prospect. However, greater adoption is still required for the Enjin Coin to go mainstream. 

Enjin Coin price forecast and key metrics

The Enjin price chart compared against the volatility showed that the prices took off in 2023, especially during the early part of the year. This came amid dropping price volatility. And there is a logic behind the drop in volatility. 

Enjin price prediction and volatility: Messari
Enjin price prediction and volatility: Messari

Both market cap and trading volume levels have increased since the November 2022 peaks. And an increase in trading volume can really push price volatility down, owing to the liquidity push. This explains the price rise at ENJ’s counter in early 2023.

ENJ market cap: CoinMarketCap
ENJ market cap: CoinMarketCap

If you close in on the latest bit of market cap figures, an interesting trend seems to be surfacing. ENJ is slowly picking up pace in regard to market cap, which might be a good signal for the price action.

ENJ market cap as of December 2023: CoinMarketCap
ENJ market cap as of December 2023: CoinMarketCap

As an investor, you might also want to closely monitor the 90-day MVRV for ENJ. As of December 2022, the MVRV was in the negative zone. And negative MVRV is historically known to push the prices higher. 

Enjin price prediction: Santiment
Enjin price prediction and MVRV: Santiment

The latest bit of the MVRV metric shows that there was a price hike in mid-October once negative MVRV came to light. And now that the MVRV metric is rising, we might see some price correction in the near term.

MVRV updated for November 2023: Santiment
MVRV updated for November 2023: Santiment

And finally, here is the yearly active address chart. Notice there was a peak in November 2022, after which prices increased. Therefore, the active address count is more like a lagging on-chain indicator for Enjin Coin. Therefore, for the price of ENJ to move higher, greater adoption and higher peaks in active address growth will be required.

Enjin active addresses: CryptoQuant
Enjin price prediction and active addresses: CryptoQuant

Enjin coin price forecast and technical analysis

Before we delve deeper into ENJ’s price patterns, let us explore the short-term analysis for the same:

Our December 2023 analysis

ENJ seems to be breaking out of the broadening wedge pattern. However, the upside move might be restricted by the dipping volume levels. A breach post the $0.46 mark could trigger a surge at the counter.

MVRV price action: TradingView
MVRV price action: TradingView

The future price of Enjin Coin might depend on the condition of the broader crypto market. But we must resort to historical data and technical analysis to locate the exact price points corresponding to the next highs and lows.

For starters, here is the weekly chart for your reference: 

Enjin price prediction chart: TradingView
Enjin price prediction chart: TradingView

Pattern identification

Two blocks each show a high and a lower high. Let us mark the points as A-B and A1-B1. Each high starts from a low, market M and M1, respectively. Apart from that, there are lows between the two lower highs involving each pattern block.

Price changes

Assuming that the next path for the price of Enjin Coin involves a move similar to A to B and A1 to B1, we can locate the price changes and time differences between the points on the chart.

Enjin price prediction and price changes TradingView
Enjin price prediction and price changes TradingView

Once we have the required data, we can find the average and prejudice the future price of ENJ with clarity.

Enjin price prediction tables
Enjin price prediction tables

Do note that our first task is to locate the next low or M2. From M2, we can consider identifying the next A2, N2, and B2. Moreover, the positive values signify low-to-high movements, whereas all the negative values signify high-to-low values.

Calculations

As B1 is the last point in the play, we shall take the high-to-low average first. Taking the sum of all the columns holding negative values, we get the average price dip and days as 68.85% and 51 days. Therefore, from B1, we can expect the next low or M2 to follow these levels. However, the expectation for low exceeded the average, and even the max dip showed up at $0.2320 and in 273 days.

Hence, the high-to-low distance can go as high as 273 days. Per the table, the low-to-high average price hike and distance are 199.05% and 147 days. Notice we have ignored the % change from M to A or 9969%, as it might interfere with the current crypto market expectations.

We will use the above-mentioned data points to locate the next set of prices for the Enjin Coin.

Enjin Coin (ENJ) price prediction 2023

We predicted a high of $0.6923 for ENJ in 2023. The coin did try to reach the presumed level, hitting $0.55 with ease. Here is how our prediction went:

From M2, the next high could follow the average of 199.05% to show up at $0.6923. The timeframe can be anywhere between 147 days to 392 days (from Table 1). However, we have selected 147 days considering the current crypto market rally.

Enjin price prediction 2023: TradingView
Enjin price prediction 2023: TradingView

We can consider $0.6923 as the ENJ price prediction high for 2023. The low for 2023 can surface at a drop of 68.85% in 51 days — per the high-to-low average from the tables above. The forecast line puts the point at $0.2161. 

Enjin Coin (ENJ) price prediction 2024

Outlook: Bullish

From the 2023 low, we can locate the next high or B2, using the average percentage growth of 199.05%. The timeframe can vary depending on the market cap at any given point and other market conditions. For easier calculations and understanding, we can put this high at $0.645 in 168+ days. This point can be the ENJ price prediction high for 2024.

Enjin price prediction 2024: TradingView
Enjin price prediction 2024: TradingView

By 2024, we can expect the crypto market to start turning bullish again. Therefore, we can expect the percentage drop to stem at 48.98% — the lowest percentage drop from Table 2. This should put the ENJ price prediction low for 2024 at $0.3193. We can mark this point as M3.

Projected ROI from the current level: 52%

Enjin Coin (ENJ) price prediction 2025

We can expect the ENJ price forecast to turn bullish by this time. Hence, A3 from M2 could easily follow the 199.05% average price hike. While the high might surface in 2024, the growth forecast and other macroeconomic factors can push the high into 2025. We take the maximum distance of 392 days as a reference for this hike. 

Enjin price prediction 2025-26: TradingView
Enjin price prediction 2025-26: TradingView

Therefore, the ENJ price prediction for 2025 might surface at a high of $0.9780. The low in 2025 can show up in 91 days (max distance from the tables above) from the 2025 high and surface at a drop of 48.98% — minimum drop as by now we expect ENJ will be on an uptrend. Therefore, the low in 2025 might surface at $0.502. 

Projected ROI from the current level: 131%

Enjin Coin (ENJ) price prediction 2030

Outlook: Bullish

The next high from the 2025 low or B3 might just be higher than A3. This would be the first time any B would surface higher than A. And if that happens, we can expect ENJ to become even more bullish. Using the average percentage hike of 199.05%, we can expect the ENJ price prediction for 2026 to surface at $1.5017.

Enjin price prediction 2030: TradingView
Enjin price prediction 2030: TradingView

By now, we should have 2025 low or N3 and 2026 high or B3 at our disposal. Connecting them using the Fib indicator can help trace the path till 2030. Keeping the same price growth path, we can expect the Enjin Coin price forecast for 2030 to show up at $9.95. For that kind of movement to hold, the price of ENJ should breach its previous all-time high price of $4.85 by early 2029

Projected ROI from the current level: 2250%

Enjin Coin (ENJ’s) long-term price prediction up to 2035

Outlook: Bullish

If you want to use historical data to plot the future price of Enjin Coin through to 2035, the table below might be useful.

You can easily convert your ENJ to USD here

Year | Maximum price of ENJ | Minimum price of ENJ
2023$0.5459$0.2064
2024$0.645$0.3193
2025$0.9780$0.502
2026$1.5017$1.17
2027$2.02$1.25
2028$3.34$2.60
2029$4.85$3.78
2030$9.95$6.17
2031$11.94$9.33
2032$15.52$12.10
2033$20.17$15.73
2034$26.23$20.45
2035$34.10$26.60
Table 3

Is the ENJ price prediction model accurate?

This ENJ price prediction model takes the fundamentals, tokenomics, and even the on-chain metrics of Enjin Coin. Moreover, the projection benefits from being grounded in data-backed technical analysis. Overall, this Enjin Coin price forecast model is as holistic and practical as possible in a dynamic and volatile crypto market.

Frequently asked questions

What will Enjin Coin be worth in 2025?

Can Enjin Coin hit 100 dollars?

How much will Enjin Coin be worth in five years?

Is Enjin a good investment?

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Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...
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