WAX Price Prediction 2024: WAXP Price Analysis
What's next for WAX?
Key Takeaways
- WAX announced a partnership with Amazon Prime Gaming.
- WAXP returned to $0.10 following the collaboration news in March but has halved since.
- One price prediction says it may reach $0.0830 next year.
WAX (WAXP) has unveiled a collaboration with Amazon Prime Gaming, marked by the launch of the innovative Brawlers game. This significant move marks a milestone in the Web 3 gaming sector, merging WAX’s cutting-edge technology with Amazon Prime Gaming’s expansive user base.
The focal point of this partnership is the Brawlers game. Following this announcement, the value of WAXP surged, reclaiming the $0.10 mark.
WAX did not respond to a request for comment.
Let’s now examine our WAX price prediction. We’ll also examine the WAXP price history and explain a little about WAX and its functions.
WAX Coin Price Prediction
| Minimum WAXP Price Prediction | Average WAXP Price Prediction | Maximum WAXP Price Prediction | |
|---|---|---|---|
| 2024 | $0.0293 | $0.0689 | $0.0717 |
| 2025 | $0.0702 | $0.0823 | $0.0830 |
| 2030 | $0.22 | $0.24 | $0.25 |
WAX Price Prediction 2024
If the positive momentum continues and WAXP breaks above its moving averages, it could reach targets between $0.0293 and $0.0717 by the end of 2024, with the average price set at $0.0689.
WAX Price Prediction 2025
Technical analysis suggests a potential increase for WAX in 2025. The minimum WAXP price expected for 2025 is $0.0702, while the maximum is $0.0830. On the other hand, the average forecast suggests it may reach $0.0823.
WAX Price Prediction 2030
Based on technical analysis, WAXP may reach a maximum level of $0.25 at the beginning of the next decade, while, in the worst scenario, it may go to $0.22. Meanwhile, the average expected price is $0.24.
WAX Price Analysis
WAXP is currently trapped in a downward trend channel in the medium to long term, with investors increasingly willing to accept lower prices to exit their positions. This reflects growing pessimism and suggests that further declines are likely.
The price chart’s lack of support reinforces the expectation of continued downside. If there is a positive reversal, resistance can be expected at $0.04.
Notably, trading volume has been higher during price peaks and lower at troughs, which could weaken the falling trend and signal an early indication of a potential trend reversal.
Short-Term WAX Price PredictionWAX’sX price prediction suggests a potential rise of 6% in the next 24 hours and 28% in the next month, reaching $0.041066 by September 10, 2024.
Despite this forecasted increase, technical indicators reflect a Bearish sentiment, and the Fear & Greed Index stands at 39, indicating a level of fear among investors.
Over the past 30 days, WAX has experienced 17 out of 30 green days (57%) with a price volatility of 10.68%. Given these factors, it appears that now may not be the ideal time to buy WAX.
WAX Relative Strength Index (RSI): Is WAXP Oversold or Undersold?
WAX Price Performance Comparisons
| Current Price | One Month Ago | Price Change | |
|---|---|---|---|
| WAX | $0.03275 | $0.04912 | -33% |
| Enjin Coin | $0.1346 | $0.2917 | -54% |
| Gala | $0.01619 | $0.02292 | -30% |
| Theta Network | $1.15 | $0.7359 | +53% |
How Do We Make a WAX Price Prediction?
Our price prediction for WAX combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases.
Applied to the WAX-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy WAX
We took a look at WAXP’s price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, suggesting the best times to buy POPCAT.
| Day of the Week | Saturday |
| Week | 7 |
| Month | March |
| Quarter | First |
WAXP Price History
Following that, let’s now take a look at some of the key dates in the WAX price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a WAX price prediction.
| Time period | WAX Price |
|---|---|
| Last week (Aug. 5, 2024) | $0.0278 |
| Last month (July 12, 2024) | $0.03641 |
| Three months ago (May 12, 2024) | $0.06092 |
| One year ago (Aug. 12, 2024) | $0.04912 |
| Launch price (Dec. 22, 2017) | $4.6083 |
| All-time high (Dec. 22, 2017) | $4.6083 |
| All-time low (Aug. 12, 2024) | $0.03273 |
WAX Market Cap
The market capitalization, or market cap, is the sum of the total number of WAXP in circulation multiplied by its price. On Aug. 12, 2024, WAX’s market cap was $112.9 million, making it the 298th largest crypto by that metric.
Who Owns the Most WAX (WAXP)?
On August 12, 2024, a wallet held 97.01% of the supply of WAXP.
Richest WAXP Wallet Addresses
As of August 12, 2024, the five wallets with the most WAXP were:
- 0x6dcc725d2cb337ed5da8ae183870f3f02dd6c707. This wallet held 3,749,381,645 WAXP or 97.01% of the supply.
- 0x2a79324c19ef2b89ea98b23bc669b7e7c9f8a517. This wallet held 43,666,938 WAXP or 1.13% of the supply.
- 0xe61cedeb1593e2d9f06af1e212842c8b5e289863. This wallet held 11,737,234 WAXP or 0.30% of the supply.
- 0x0d0707963952f2fba59dd06f2b425ace40b492fe. This wallet held 8,676,111 WAXP or 0.22% of the supply.
- 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b. This wallet held 7,560,336 WAXP or 10.20% of the supply.
Popcat Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 4,188,364,218 |
| Circulating supply (as of August 12, 2024) | 3,449,967,069 (80% of total supply) |
| Holder distribution | The top 10 holders own 99% of the supply (as of August 12, 2024) |
From the WAX Whitepaper
In its technical document or whitepaper , WAX says, “the” WAX Protocol is a DPoS blockchain designed to scale in conjunction with a microservice layer that provides specialized infrastructure for building digital goods marketplaces.
The team’s 20+ years of experience building digital goods businesses, including the hugely successful OPSkins.com, have given them the knowledge required to construct interconnected and highly sophisticated marketplace services.
WAX (WAXP) Explained
The WAX platform offers a powerful and user-friendly environment for creating and trading digital collectibles. It serves as a bridge that connects creators, collectors, and developers, providing a marketplace that leverages blockchain technology for enhanced user experience and security.
How WAX Works
WAXP, the native token of the WAX Blockchain, is the primary medium of exchange used to buy and sell digital collectibles on both primary NFT sales and secondary markets. As the lifeblood of the WAX ecosystem, WAXP seamlessly powers transactions, ensuring a smooth and secure experience for creators, collectors, and traders alike.
Is WAX a Good Investment?
It is hard to say. The platform didn’t build on its recent Amazon partnership, and the price halved since then.
As always with crypto, you should do your own research before deciding whether or not to invest in WAX.
Will WAX go up or down?
No one can really tell right now. While WAXP’s price predictions are largely positive, they have a well-earned reputation for being wrong. Keep in mind, too, that prices can and do go down as well as up.
Should I invest in WAX?
Before you decide whether or not to invest in WAX, you will have to do your own research, not only on WAX but on other related coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will WAXP reach $1?
It might, but not soon. Price predictions based on technical analysis expect it to reach that level in the next decade.
It’s important to keep in mind that WAXP has traded above $1 in 2018 for the last time.
What is WAX used for?
The WAX platform offers a powerful and user-friendly environment for creating and trading digital collectibles. It serves as a bridge that connects creators, collectors, and developers, providing a marketplace that leverages blockchain technology for enhanced user experience and security.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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