- Snoop Dogg dropped a new music video in the blockchain-based game The Sandbox.
- Moving past the $4.44 resistance level would likely see SAND climb to $6.2-$7.2.
Metaverse services provider The Sandbox has been named one of the 100 most influential companies by the American news magazine Time and announced the company’s founder. Sebastien Borget, co-founder and COO of The Sandbox, tweeted about the recent update.
Extremely honored that @TheSandboxGame enters "@TIME 100 Companies of 2022" as Pionners
— Sebastien 🏞 (@borgetsebastien) March 30, 2022
A HUGE THANKS 🙏 to
💙 Our team & my co-founder @arthurmadrid
💙 Our community of Creators, Builders & Players
💙 All 🏞️ virtual LANDS, $SAND & Avatars ownershttps://t.co/6M8FUbaQwz
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Snoop Dogg, a prominent non-fungible token (NFT) collector, has been busy with all things crypto lately. Just today alone, the rapper dropped a new music video in the blockchain-based game The Sandbox—where he will also hold a virtual metaverse concert later this year and confirmed an upcoming Twitter Spaces meeting with Cardano founder Charles Hoskinson.
Bullish Momentum Ahead
The Sandbox dropped to $2.55 in January, when there was intense selling pressure in the market, and the sentiment was extremely fearful. Another wave of selling was seen in mid-February, but The Sandbox was not as severely affected by this selling pressure. The token has held up better than expected since January. Moreover, a couple of weeks ago, the blockchain gaming firm said they had a partnership with HSBC, which would see the bank acquire a plot of LAND in The Sandbox metaverse.
On the back of this demand, SAND has rallied around 40% from $2.68 to $3.7. Further north, the $4-$4.4 area could be an area to take profit at, as sellers are expected to be strong here.
The fact that $2.55 has not been breached since January, combined with SAND’s recent rise above $3.44, meant that the bulls’ market structure is in favor. The momentum was in favor of the bulls as well. And, there was evidence of steady demand. The $4-$4.4 area posed strong resistance to the north. Moving past the $4.44 resistance level would likely see SAND climb to $6.2-$7.2.
