Is Enjin Overvalued

[ALLON2017]

Thinking of buying Enj, I read an article by coindesk News that’s it, if anyone has any other news links in regards to companies whitelisting it would be great.
Cheers.

[1714953351]

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[1714953351]

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[TastyChillySauce00]

You meant about this news https://enjin.io/company-news/enjin-coin-japan-listing-en

I think that's about the regulatory approval and that's good news for enjin to be approved in japan. Enjin already developed several products and the latest one is related to the NFT.
I don't think the price of enjin coin is overvalued at this moment dude.

[JNR]

You meant about this news https://enjin.io/company-news/enjin-coin-japan-listing-en

I think that's about the regulatory approval and that's good news for enjin to be approved in japan. Enjin already developed several products and the latest one is related to the NFT.
I don't think the price of enjin coin is overvalued at this moment dude.

indeed, and for me the price of enjin coin still undervalued if we comparing with other altcoins mate, especially with top altcoins im current market situations, and today this coin already create new ATH

[ALLON2017]

Thanks for the responses guys, still not sure if at this Ath price is a good entry though

[GreatArkansas]

Thanks for the responses guys, still not sure if at this Ath price is a good entry though, seems very risky, considering was trading below 50c 3-4 months ago, still dont see any real significant progress apart  getting  coin on Japan exchanges.. if links to companies which have whitelisted coin available please post.

Very risky to buy now for me, it is ranging on previous resistance of BTC pair since last March 2019.
If ever I will buy this altcoin, much better to wait for a good entry. It's kinda on the peak right now, for sure this will do some price correction, all you need is to wait and have patience.

[maxreish]

I've heard about this ENJIN in our local thread and I am still hesitant to buy some of it until now. Although they have good performance lately and they have developed the enjin network for gaming project industry. It makes sense why it skyrocketed like these as the website shown.
 
 
 
 
 And it surpasses some other altcoins, since Japan adopted and recognized ENJ as the first to approved gaming crypto platform, the price deserves to rise.

[hd49728]

 
 And it surpasses some other altcoins, since Japan adopted and recognized ENJ as the first to approved gaming crypto platform, the price deserves to rise.

Hey. This chart confirms that whether the Enjin coin is over valued or under valued.

The bull market makes any positive news looks like a new future is coming and people will accept any price when they see bright future ahead and they hope for new all time highs. Adoption from Japanese companies won't be the reasons to help Enjin rise more if we are in a bear market. I don't give you any conclusion that the coin can rise more or will be fallen back as the bull market is on-going and the bull market for altcoins in 2017 and 2018 helped many altcoins x10 or x20.

But it is risky to buy Enjin now.

[libert19]

I can't say if it's undervalued or overvalued but I am sure it will be a fine addition to portfolio.

They have been building in 3 years of bear market, if project can survive and build in massive correction, they are serious.

Enjin was established in 2009, that's hell lot of time: https://messari.io/asset/enjin-coin/profile

[LUCKMCFLY]

I wanted to refloat this thread because ENJ has been rising, it has reached 2.20USD and possibly continues to rise more, in fact its resistance oscillates at 2.75, it really has a good future if things go well for BTC:

While it fell afterwards, it has returned and validate the resistance line of the channel as support (green icon).

Source: https://beincrypto.com/magnificent-seven-xtz-avax-tel-enj-xmr-sol-zen-biggest-gainers-aug-20-27/

You can see a good future for the currency, from the volume to the volume still has a long way to go, but I think the bulls are supporting the movement, it is a matter of waiting to see how everything continues to develop.

[anu1908]

in the end the movement is heavly dependent on btc. unless the team can release new news or achieve something on their roadmap, it will require more time to break the resistance imo. i'm not following the project but the price looks ok for another run.

[Bonenx14]

in the end the movement is heavly dependent on btc. unless the team can release new news or achieve something on their roadmap, it will require more time to break the resistance imo. i'm not following the project but the price looks ok for another run.

That's very clear because without any news from the project team, the price of their coins can only follow market conditions and depend on Bitcoin, so the big pump is no longer obtained by the coin.

[sana54210]

Thinking of buying Enj, I read an article by coindesk News that’s it, if anyone has any other news links in regards to companies whitelisting it would be great.

Nobody really talked about it but there are games now based on Enjin as well, NFT based game items being traded on Enjin is the whole deal. There are few games, some of them are even mmorpg looking like games (think about old ultima days, great game back in the day) and these are now on Enjin based blockchain where items are being sold for real money, there is also game money as well for other ordinary things but some items which are valuable gets sold on the market.

This is why I honestly believe that we should definitely consider Enjin as undervalued if these things take off, this is the reason why the price went up so much since people found a way to play games and make money and that is not an old thing, it is a new thing, for the past few months people really made a whole deal out of it, so Enjin could capitalize on that and make a lot of money.