The ALICE price exploded by nearly 100% over the past week, catching many traders off guard. This gaming coin performed incredibly well in 2021 but seemed to lose momentum after the bull run. So, what’s behind this sudden revival?
Let’s analyze the ALICE price pump and why PlayDoge could be a potential gaming crypto worth considering instead.
ALICE Price Surge, but Is This Gaming Crypto to Avoid?
Although ALICE spiked close to 100% this week, it is currently trading around $2.3 – far below its all-time high of $27.2. Despite the recent rally, ALICE is still down over 90% from its peak.
This is clearly visible on the ALICE chart since when you zoom out, you can see that the coin is in the downtrend mode since early 2022.
Also, there’s another worrying sign after the price increase as the My Neighbor Alice vesting wallets deposited 2.09M $ALICE ($5.44M) to sell it (reported by LookOnChain), likely contributing to the ALICE price already being down almost 10% today.
ALICE is the utility token used to purchase, rent, and sell non-fungible tokens (NFTs) like virtual land plots and other assets within the MyNeighborAlice game’s marketplace. It is also required to craft certain types of NFTs, with a portion of the ALICE being locked into the crafted item but reclaimable by “burning” the NFT.
MyNeighborAlice is an open-world multiplayer game where players can buy virtual islands made of land plot NFTs, customize their islands, interact with others in the metaverse, and progress through a storyline by completing quests. While free-to-play, owning ALICE and NFTs enhances the gaming experience, and players can earn ALICE through gameplay to sell for real money.
The current market cap is just around $158 million, but ALICE was one of the strongest gaming cryptocurrencies in 2021, following the path of juggernauts like Axie Infinity (AXS), which had a $44 billion market cap at its peak but now sits around $1 billion.
The recent price surge could be attributed to MyNeighborAlice’s announcement of a new staking feature. With this feature, players can stake their crafted NFTs to earn compounding rewards in ALICE at an 18% APY rate. The more NFTs staked, the more ALICE rewards earned over time.
Now, what’s the meaning of staking? Staking means that the above-mentioned NFTs can be staked into our platform, producing some juicy rewards in $ALICE !
Yeah, you read it right: everything by just using the platform we love the most 😍
Once you stake the items, rewards will… pic.twitter.com/Wh7rpMf8ST
— Alice (@MyNeighborAlice) June 3, 2024
Best Gaming Crypto to Buy Now: PlayDoge.
As ALICE is potentially a crypto gaming coin to avoid despite the recent pump, there’s another player in this narrative that could do well in the weeks ahead: PlayDoge. This is a new meme coin project combining the iconic Doge meme with a play-to-earn (P2E) mobile game inspired by the classic Tamagotchi virtual pets of the 1990s, complete with a nostalgic website aesthetic. The project’s website also has a lot of that 90s vibe.
In PlayDoge, players download the mobile app (will work on both iOS and Android) and adopt a virtual Doge pet living in a retro 2D 8-bit world. To keep their Doge alive and thriving, players must regularly feed, train, and play mini-games with it. Neglecting the pet could cause it to run away or die, resetting the game.
By caring for their Doge and completing mini-games, players earn $PLAY tokens, the native cryptocurrency of the PlayDoge ecosystem. Players can cash out their $PLAY earnings, use them for in-game purchases, or stake them to earn passive income.
PlayDoge’s presale has already raised over $1.7 million in just a few days, with a hard cap of around $24 million. For now, you can buy $PLAY only directly via project’s official website. Moreover, popular YouTuber Jacob Bury, with almost 40,000 subscribers, described $PLAY as a new meme coin with 10x potential and potentially the best gaming crypto to buy now.
Conclusion
To sum it up, the ALICE price pump caught many by surprise, but this gaming crypto still has a long way to go to reach its previous highs. For those seeking the next potential meme coin and gaming crypto to buy now, PlayDoge’s nostalgic Tamagotchi-inspired gameplay and successful presale make it a potentially interesting option to consider.
