Popular Gaming Platform Features Lots of Meme Coins, Including Shiba Inu (SHIB) and dogecoin (D)
TL;DR
- A well-known gaming platform announced that it is holding meme coins such as SHIB, DOGE, pepe, and bonk and integrating “their own unique cultures” into its ecosystem.
- The organization hinted that similar news could come in the future.
Meme coins became the rock stars of crypto during this bull cycle as multiple individuals and entities entered their ecosystems. The latest platform to do this is the popular gaming platform the sandbox.
In a recent X post, clarified He holds shiba inu (SHIB), Dogecoin (DOGE), Pepe (PEPE), Bonk Inu (BONK) and more. “We are excited to integrate their unique culture into our platform,” the platform said.
In addition to joining the meme coin bandwagon, The Sandbox also touched upon the advantages of some of the tokens it added to its portfolio. Describing the Shiba Inu as a “global phenomenon”, DOGE was praised due to its “strong community” and “humorous origins”.
PEPE and BONK also emphasized. Sandbox noted that the former uses a mechanism to reduce the total supply over time, labeling it a “deflationary meme coin.” If BONK what did it represent “The most widely used dog-themed cryptocurrency in solana.”
SAND Still Waiting for Bull Run
Speaking of Sandbox, it’s worth mentioning its native token, SAND, which has seen better days. It is currently trading around $0.32 (according to CoinGecko data); a 30% decline on a two-week scale and a staggering 95% decline from the all-time high of $7.50 recorded in November 2021.
SAND is among the very few cryptocurrencies that did not witness a significant increase in the past year, with Bitcoin (BTC) hitting a new high above $73,500 and Binance Coin (BNB) almost touching $720.
In comparison, other gaming coins appear in the green on the yearly scale, including Immutable (IMX), axie infinity (AXS), and Ronin (RON).
On the other hand, some metrics on the chain signal that SAND may move northward in the short term. The Relative Strength Index (RSI) recently fell below 20, currently on foot at 32. The technical analysis tool identifies oversold or overbought conditions in the market and ranges from 0 to 100. A ratio above 70 indicates that a price correction may be imminent, while low points indicate a possible buying opportunity.
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