{"id":10439,"date":"2022-10-24T14:56:53","date_gmt":"2022-10-24T18:56:53","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=10439"},"modified":"2022-10-24T14:56:53","modified_gmt":"2022-10-24T18:56:53","slug":"enjin-enj-among-top-10-crypto-choice-of-eth-whales-in-last-24-hours","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/10\/24\/enjin-enj-among-top-10-crypto-choice-of-eth-whales-in-last-24-hours\/","title":{"rendered":"Enjin (ENJ) Among Top 10 Crypto Choice Of ETH Whales In Last 24 Hours"},"content":{"rendered":"

Cryptocurrency whales are now investing heavily on Enjin Coin. Cryptocurrency whale tracker WhaleStats reports<\/a> a total of 28,551,132 ENJ coins are in the whales\u2019 possession.<\/p>\n

Given that one token is now trading at a market price of $0.4141, this amounts to $11.8 million.<\/p>\n

In tandem with the whale frenzy on ENJ coin, the Enjin development team has also launched a beta version of their native wallet. More investors will get behind the idea and the coin if these trends continue.<\/p>\n

JUST IN: $ENJ<\/a> @enjin<\/a> now on top 10 by trading volume among 500 biggest #ETH<\/a> whales in the last 24hrs <\/p>\n

Peep the top 100 whales here: https:\/\/t.co\/tgYTpOmDm0<\/a><\/p>\n

(and hodl $BBW<\/a> to see data for the top 500!)#ENJ<\/a> #whalestats<\/a> #babywhale<\/a> #BBW<\/a> pic.twitter.com\/CKt2sXrUUf<\/a><\/p>\n

\u2014 WhaleStats (tracking crypto whales) (@WhaleStats) October 22, 2022<\/a><\/p>\n

Consequently, this is good news for the ENJ coin\u2019s market price. Despite this, the coin has an extremely negative market mood.<\/p>\n

Enjin Needs A Shot In The Arm<\/strong><\/h2>\n

As of this writing, token metrics are not encouraging. Coingecko<\/a> reports that, over the past 24 hours, the coin has gained 0.7%, which is not nearly enough to make up for the losses incurred over the preceding seven days.<\/p>\n

Each of the weekly, biweekly, and monthly averages is in the red. Meanwhile, a Twitter user by the name of CryptoDoc said that ENJ coin would never again be worth what it is now. This could serve as a synopsis of the data presented in the graphics.<\/p>\n\n

Chart: TradingView<\/p>\n

Currently, the cryptocurrency is trading at levels not seen since February last year. The currency reached this level during the June fall and returned to the $0.75 price range in August. Nonetheless, larger market pressures drove the price to a low in June.<\/p>\n

This is an important juncture for the coin. Anything below this threshold will render ENJ useless in the Enjin ecosystem.<\/p>\n

What Lies Ahead For ENJ<\/strong><\/h2>\n

The most probable future for ENJ is a bearish one, some analysts say. As of this writing, the momentum indicator suggests a continuation of the downturn to the trough in January 2021. Current RSI values support this notion.<\/p>\n

However, according to Chaikin\u2019s money flow indicator, bulls currently control the market. This may have been caused by the whale buying binge. The Stoch RSI values support a possible bullish activity in the near future.<\/p>\n

The triangle pattern that has formed as a result of the coin\u2019s past price movements will pose a significant barrier to any potential rebound.<\/p>\n

For a price recovery to occur, today\u2019s candle must close green, which is a bullish indicator for investors and traders.<\/p>\n

A green ending price today could provide ENJ with the impetus required to test the $0.443 barrier level.<\/p>\n\n

Crypto total market cap at $890 billion on the daily chart | Featured image from The VR Soldier, Chart: TradingView.com<\/a><\/p>\n

Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cryptocurrency whales are now investing heavily on Enjin Coin. Cryptocurrency whale tracker WhaleStats reports<\/a> a total of 28,551,132 ENJ coins are in the whales\u2019 possession.<\/p>\n

Given that one token is now trading at a market price of $0.4141, this amounts to $11.8 million.<\/p>\n

In tandem with the whale frenzy on ENJ coin, the Enjin development team has also launched a beta version of their native wallet. More investors will get behind the idea and the coin if these trends continue.<\/p>\n

JUST IN: $ENJ<\/a> @enjin<\/a> now on top 10 by trading volume among 500 biggest #ETH<\/a> whales in the last 24hrs <\/p>\n

Peep the top 100 whales here: https:\/\/t.co\/tgYTpOmDm0<\/a><\/p>\n

(and hodl $BBW<\/a> to see data for the top 500!)#ENJ<\/a> #whalestats<\/a> #babywhale<\/a> #BBW<\/a> pic.twitter.com\/CKt2sXrUUf<\/a><\/p>\n

\u2014 WhaleStats (tracking crypto whales) (@WhaleStats) October 22, 2022<\/a><\/p>\n

Consequently, this is good news for the ENJ coin\u2019s market price. Despite this, the coin has an extremely negative market mood.<\/p>\n

Enjin Needs A Shot In The Arm<\/strong><\/h2>\n

As of this writing, token metrics are not encouraging. Coingecko<\/a> reports that, over the past 24 hours, the coin has gained 0.7%, which is not nearly enough to make up for the losses incurred over the preceding seven days.<\/p>\n

Each of the weekly, biweekly, and monthly averages is in the red. Meanwhile, a Twitter user by the name of CryptoDoc said that ENJ coin would never again be worth what it is now. This could serve as a synopsis of the data presented in the graphics.<\/p>\n

Chart: TradingView<\/p>\n

Currently, the cryptocurrency is trading at levels not seen since February last year. The currency reached this level during the June fall and returned to the $0.75 price range in August. Nonetheless, larger market pressures drove the price to a low in June.<\/p>\n

This is an important juncture for the coin. Anything below this threshold will render ENJ useless in the Enjin ecosystem.<\/p>\n

What Lies Ahead For ENJ<\/strong><\/h2>\n

The most probable future for ENJ is a bearish one, some analysts say. As of this writing, the momentum indicator suggests a continuation of the downturn to the trough in January 2021. Current RSI values support this notion.<\/p>\n

However, according to Chaikin\u2019s money flow indicator, bulls currently control the market. This may have been caused by the whale buying binge. The Stoch RSI values support a possible bullish activity in the near future.<\/p>\n

The triangle pattern that has formed as a result of the coin\u2019s past price movements will pose a significant barrier to any potential rebound.<\/p>\n

For a price recovery to occur, today\u2019s candle must close green, which is a bullish indicator for investors and traders.<\/p>\n

A green ending price today could provide ENJ with the impetus required to test the $0.443 barrier level.<\/p>\n

Crypto total market cap at $890 billion on the daily chart | Featured image from The VR Soldier, Chart: TradingView.com<\/a><\/p>\n

Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10439","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10439"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10439\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10439"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}