The Price of the SNAKE (SNK) Game Token Is Growing as We Approach November 30. Wait for a Dump or Buy Now?
Less than two weeks are left before the start of one of the most anticipated blockchain games of 2021 — Cryptosnake. Now the project already has more than 60 thousand active community members who are waiting for the start of the game. Two whales even bought two game NFT Artifacts for 100,000 BUSD each. The total amount of sales of game artifacts even before the start of the game is over 500,000 BUSD.
Info: Cryptosnake is a play-to-earn game with DeFi and NFT, the first blockchain game on the BEP-1155 standard. The gameplay is based on the nostalgic “Snake”. The release is scheduled for November 30th.
Meanwhile, the SNAKE (SNK) token continues to grow, increasing the threshold for entering the game. The starting price was 0.01 BUSD for 1 SNK. Then the cost of the base playable character (the Dasypeltis snake) was $22. Now, this same character costs about $800.
The SNK token rate has grown significantly immediately after the start of sales. The demand for in-game currency turned out to be even higher than expected. In total, more than 280 million tokens have been sold to date (about $95 million at today’s rate). The listing on Coinmarketcap and the burning of the liquidity pool were also strong shocks.
Further, there are three possible scenarios.
- The first (pessimistic) — the rate will continue to grow until the publication of the audit results of smart contracts, or until the planned release date of November 30, but the game will not come out (or it will turn out to be worse than many expected). This will be a disappointment for the community and will lead to a gradual collapse of the course. However, a pessimistic forecast is unlikely given the marketing budget and the size of the project’s live community. In addition, the first screenshots of the game have already appeared in the chat.
- The second — the rate will continue to grow until November 30, but many holders will not be able or will not want to buy a character at that price. According to a poll in the official Telegram chat, only 45% of holders bought more than 500 SNK, and only 21% — more than 5000 SNK. This can lead to a course correction and a bounce to an acceptable price for most.
- And the third scenario — the rate will continue to grow until November 30. This is the start date of the game. On this day, doubters will see that the game is really out and that you can really earn money in Cryptosnake. Then there will be even more people who want to start playing — and SNK tokens will rise in price even more.
There are always risks in new projects, but such projects allow you to earn more. Aside from the pessimistic forecast, the optimal strategy would be to buy SNAKE tokens as early as possible and wait. A strong drop in the rate until the end of November is unlikely, so we can hold. Further, on the day the game is released, we can decide what to do next: sell tokens at the peak, or buy a character and start the game.
In case of a successful start of the game, the second option will be more profitable, because the first players will be able to earn more than others on staking. APR for players joining in the first six months will range from 60% to 115% depending on the snake type and TVL balance. Also, the APR rate can be increased by using artifacts, but now they can only be bought on the secondary market.
You can buy a SNAKE token on PancakeSwap paired with BUSD.
More details about the project can be found on the official Telegram or on the website. These two weeks would be crucial for the project. In any case, it will be interesting to watch the development of Cryptosnake. What do you think?
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