The GameFi sector is on the verge of a breakout.
With the Bitcoin price rapidly making a recovery, an altcoin bull run is on the horizon. Experts believe that GameFi, along with meme coins and AI tokens could be the top-performing sectors over the coming months.
Popular gaming cryptocurrency Saga is one that investors are eyeing for a potential breakout. It has rallied nearly 47% since hitting a bottom last week, despite the bearish broader market outlook.
Meanwhile, experts are also bullish on a new P2E token - PlayDoge (PLAY). It has already raised over $5.5 million in its ICO and experts believe it has high upside potential after its launch.
How High Can The Saga Price Go?
Saga is a Web3 platform designed for developers, offering an integrated stack to facilitate the creation of scalable and interoperable blockchain applications. By utilizing its Layer-1 protocol, Saga allows for the automatic deployment of "Chainlets," dedicated chains that ensure infinite horizontal scalability.
The project claims that its infrastructure aims to overcome the limitations of traditional monolithic blockchains, such as high gas fees and congestion, by providing a streamlined and efficient development environment for decentralized applications.
However, the Saga price has faced a significant deadline ever since its launch, so much so that it hit its all-time low on July 5th.
And yet, smart-money traders remain bullish on the project. Crypto Hunter - a popular trader with nearly 30k X followers - claims that he really likes $SAGA for the second half of 2024. He highlights that if the gaming crypto manages to flip the $1.50 and $2.0 resistance levels, it could push towards a new all-time high in no time.
Still really like $SAGA for second half of this cycle, top % gainer on Binance today, still got some work to do around $1.50 and $2.00ish but I think after some healthy chop this can go on a huuuuuge run. FA is looking very strong, just needs the chart to line up. pic.twitter.com/lCHZvphH2j
— Crypto Hunter (@CryptoxHunter) July 7, 2024
Indeed, the $2 price level remains the most important resistance level for SAGA coin.
If the bulls manage to flip this level, some experts believe that even $8 could be an achievable price target for the token.
If $SAGA can go up from my resistance line in daily candle then $SAGA will go moon from here 🚀🚀✍️ pic.twitter.com/uG4dXaFfd3
— TOP GAINER TODAY (@RoccobullboTTom) July 8, 2024
SAGA has already rallied nearly 47% from its bottom and is currently trading at $1.30 with a market capitalization of over $26 million. It is also seeing an impressive daily trading volume of $62 million.
As previously mentioned, the GameFi sector is one to watch in the altcoin bull run, especially after the success of Notcoin and Hamster Kombat. Consequently, the renewed optimism surrounding SAGA token makes sense.
Could PlayDoge Be The Next GameFi Token To Explode?
PlayDoge is another new gaming cryptocurrency that experts are bullish on. A few analysts are already hinting at the possibility of 100x returns after its launch.
Indeed, PLAY is seeing impressive early demand, raising over $5.5 million in its ICO.
PlayDoge’s play-to-earn gameplay combines the iconic Doge character with the nostalgia surrounding Tamagotchi.
Players get to own Doge as their own virtual pet, similar to Tamagotchi, except through a smartphone rather than a pocket toy. They need to train, feed and play with their pet or risk receiving a penalty. Neglect could result in their pet running away to another household or even dying.
More importantly, players can complete a series of classic adventures - not unline retro 8-bit side-scrollers - and earn bonus PLAY tokens. They will also earn experience points and gamers with the most points will earn additional rewards.
Even the non-gamers can make substantial passive income through PlayDoge’s staking program.
In fact, the PLAY staking pool offers staking rewards on both the BNB Smart Chain and Ethereum. Investors can track the latest reward rate through PlayDoge’s staking dashboard.
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