Gaming altcoins have been in the spotlight this week, with a significant bull rally underway. Many tokens have managed to recapture investors’ attention with triple-digit gains. Total market cap increased by 7.39% on the day to $29.19 billion, while trading volume increased by 13.19% to $5.69 billion. These developments have raised curiosity about whether the two popular altcoins will continue their leadership race in the gaming category.
Sandbox (SAND)$SAND
Sandbox has become one of the tokens that have attracted investors. SAND has increased by 80% in the last week. It has also recorded a remarkable increase of 150.67% in the last 30 days. This strong performance has increased Sandbox's market value to $ 1.564 billion, making it an important asset in the crypto world. This rise, which has increased investor confidence, also continues to attract new investors. While the Relative Strength Index (RSI) is still in the overbought region on the daily chart, the trend line continues to move upwards. This is considered a positive signal for investors. If the bulls continue to gain momentum, the SAND price may test the critical resistance level of $ 0.80. However, if the selling pressure increases, the price is likely to decline to $ 0.50. In addition, analysts state that SAND has the potential to reach $ 1 in 2024.
Gala (GALA)$GALA
Gala stands out as another notable gaming token. GALA, which is quite popular among gaming altcoins, reached a trading volume of $ 351.48 million in the last 24 hours. It gained 38.71% in the last seven days and 90.67% in the last 30 days. This impressive increase reinforces investors' confidence in GALA. GALA's daily chart is strongly supported by the Simple Moving Average (SMA), and the MACD indicator also points to an uptrend. If the price manages to stay above the $ 0.03975 resistance level, GALA's next target could be the $ 0.05305 resistance level. However, if the bulls lose their dominance, the possibility of a drop to $ 0.02675 should also be considered.
The upward trend shown by these tokens indicates that the gaming category may gain more importance in the crypto market. In addition, this strong performance offers a promising picture that the gaming sector can further integrate with blockchain technology. As a result, gaming tokens such as Sandbox and Gala offer great potential in the long term as well as short-term earning opportunities for investors.