The GambleFi sector is experiencing a renaissance as traders bet on the significant revenue of this popular business model.
A number of GambleFi tokens are on the rise – amongst them is market leader Rollbit, which is up over 60% this month.
Is Rollbit Undervalued? Analyst Tips to 7X Gains On Relative Strength
‘The house always wins,’ and anyone can be the house with GambleFi.
When compared to other crypto asset classes, it may be significantly undervalued.
It’s one of crypto’s most lucrative businesses, with Rollbit alone generating hundreds of millions in annual revenue.
Crypto analyst GLC spotlighted several key data points that indicate tons of room for price appreciation.
The RLB price has skyrocketed by 60% this month, but GLC says “it remains the most undervalued asset.”
Later in the analysis, he highlighted how he came to this conclusion:
“The best way to determine if an asset is over or undervalued is by comparing it to other assets based on key metrics.”
GLC uses Price-to-Sales (P/S) multiples to compare Rollbit’s revenue to the fees accrued by other prominent crypto applications, such as Lido Finance, Uniswap, and Maker.
Based on GLC’s calculations, RLB’s price is 0.65 times its revenue. Compared to the market median, this gives a price-to-fee ratio of 7.4.
However, he underscores that we must factor in the fact that Rollbit is not trading on any major exchanges, while the other tokens are.
“The more liquid an asset, the closer it trades to fair value.”
As such, he gave a 50% discount, but this still means it’s over three times better value than the median.
Based on that, the analyst speculates that Rollbit’s fair market value is 500% higher than its current price.
3/ Price Predictions || 12 MonthsUsing the market median of 3,7, we estimate $RLB fair value at $0,54 under current conditions, suggesting a 500% return. Usually, this would be our worst-case scenario since we expect market conditions to improve, but due to $RLB big… pic.twitter.com/aSf5meQ5ry
— GLC (@GL_Capital_) September 10, 2024
However, other analysts are even more optimistic. Cevo suggests RLB could reach between $1 and $3 this cycle, providing up to 30x gains from its current price.
It took some time but $RLB gave us a 2x again. This is just the beginningExpecting $1-3 https://t.co/njqTUKkcUa
— cevo (@cryptocevo) September 11, 2024
But adding to the GambleFi excitement, Rollbit’s position as the market leader means smaller projects could outperform it.
What Are the Best GambleFi Tokens to Buy Now?
The GambleFi market is filled with promising investment opportunities – we’ve narrowed it down to the best two to consider.
Memebet Token
Memebet token is an emerging project blending GambleFi with the meme coin sector.
Both online gambling and meme coins are high on the risk curve, so it could be a perfect match.
It’s also worth noting that famous meme coin influencers like Ansem have rallied behind Rollbit recently, reflecting Memebet token’s on-the-button product market fit.
Memebet Casino will offer thousands of games and sportsbook events. It will support top meme coins like Dogecoin, Shiba Inu, and Pepe, adding utility to the previously ‘useless’ joke tokens.
By applying crypto’s light-hearted and viral meme coin allure to a legitimate business model, Memebet has carved a distinct position in the market.
The project is undergoing a presale and has raised over $200K in two days.
Investors can buy $MEMEBET for $0.025, but this will rise later today.
Visit Memebet Token Presale
Mega Dice Token
With a $260 million market cap, Rollbit has a lot of room for growth to catch the industry’s biggest players. However, Mega Dice token has significantly more upside potential.
As highlighted by GLC, Rollbit generates around $25 million in monthly revenue, but Mega Dice generates $50 million.
Moreover, it’s currently undergoing a presale and has raised just $1.8 million so far. Compared to Rollbit, liquidity is thin, and any amount of inflows could skyrocket its price after its exchange launch.
Some of the token’s key benefits include exclusive access to new features, staking rewards paid out daily, limited edition NFTs, buybacks using the casino’s revenue, and a referral program.
The Mega Dice Casino also plans to launch futures trading on its platform, offering up to 1,000x leverage. This could further expand the project’s significant revenue stream.
The $DICE presale ends in sixteen days. Following this, it’ll list on exchanges.
Visit Mega Dice Token Presale
