- The Sandbox token has been in a strong bullish trend in the past few days.
- Apple will launch its new virtual reality headset on Monday.
- There is a likelihood that the metaverse will be the next AI.
The Sandbox price soared to a two-month high as metaverse tokens roared back. SAND price jumped to a high of $0.6245, the highest point since April this year. At its peak on Monday, Sandbox was up by more than 30% from the lowest level this year.
Is metaverse the next artificial intelligence
Monday will be a big day for the technology industry as Apple launches its biggest product in seven years. After 7 years of development, Apple will launch its virtual reality headset during the WWDC event in California.
As I wrote in my article on Decentraland, there is a general view that the metaverse will now become the next big thing in the tech industry. In other words, it will now overtake artificial intelligence, which has become the top-performing industry this year. As I wrote last week, the industry helped push Nvidia’s market cap to over $1 trillion.
Therefore, as we have seen with AI tokens like Render Token, AGIX, and Fetch AI, analysts believe that well-known metaverse tokens like Sandbox will do well as focus shifts to the metaverse.
Read more: How to buy The Sandbox token.
In the past, we have seen companies like Facebook and Microsoft venture into the virtual reality industry. However, despite their investments, these companies have not been able to take the industry mainstream. Apple, using its experience in hardware and software, is the only company that is able to do that. For example, Apple made smartphones, tablets, and watches cool again.
Still, the main concern for The Sandbox is that its ecosystem has not been growing as fast as expected. According to DappRadar, Sandbox has had 6.7k unique active wallets (UAW) in the past 30 days even as it carried out a major event in May. It handled less than 5k transactions in this period.
SAND price prediction
The 4H chart shows that the Sandbox price has been in a strong bullish trend in the past few weeks. It managed to cross the key resistance point at $0.5422, the highest point on May 18. The token has jumped above the 25-period and 50-period moving averages. At its peak, the token retested the 61.8% Fibonacci retracement level and then pulled back.
Therefore, I suspect that the token will retest the key support at $0.5422 and then resume the bullish trend. This will happen because of a concept known as buy the rumour, sell the news. It happens when asset retreats and then resumes the bullish trend.
