{"id":244213,"date":"2022-07-03T05:00:22","date_gmt":"2022-07-02T23:30:22","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=244213"},"modified":"2022-07-02T17:25:40","modified_gmt":"2022-07-02T11:55:40","slug":"assessing-the-odds-of-the-sandbox-sand-falling-below-1-mark","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/assessing-the-odds-of-the-sandbox-sand-falling-below-1-mark\/","title":{"rendered":"Assessing the odds of The Sandbox [SAND] falling below $1 mark"},"content":{"rendered":"

The Sandbox [SAND] had a run-in with the bears and terrified a lot of its investors after it lost the critical and psychological support level of $1. But fortunately, with the market backing the altcoin, SAND managed to reclaim it. Regardless of its reclaim, it looks like the altcoin is once again being threatened.<\/span><\/p>\n

The Sandbox is back in the box?<\/strong><\/h3>\n

Trading slightly above $1 became the new support level for SAND. After the 60% rally, it managed to invalidate the June crash and was trading at $1.3. However, in the last week, after declining by 20%, SAND fell down and was trading at $1.01, at press time.<\/span><\/p>\n

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The Sandbox price action<\/em> | Source: TradingView – AMBCrypto<\/a><\/figcaption><\/figure>\n

SAND\u2019s depreciation from $7.91, its all-time high from November 2021, already threw more than 80% of its investors in the loss. If the Metaverse token was to fall back below $1 again it would lead to additional losses. Furthermore, this might also end up triggering investors to sell the token.<\/span><\/p>\n

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The Sandbox investors in loss <\/em> | Source: Intotheblock – AMBCrypto<\/a><\/figcaption><\/figure>\n

The SAND metric-book<\/h3>\n

Although looking at the net exchange flows, the possibility seems bleak since SAND HODLers have been weirdly optimistic in their approach as they have been treating the crashes as dips. <\/span>Consequently, investors have been buying what they considered as the dip. <\/span><\/p>\n

Since the last major selling in February 2022, more than 130 million SAND worth a little over $130 million has been bought back.<\/p>\n

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The Sandbox exchange balance <\/em> | Source: Santiment – AMBCrypto<\/a><\/figcaption><\/figure>\n

This maneuver might be based on the hope of a rally which may or may not come, but as long as SAND keeps above $1, this sentiment will continue dominating the investors.<\/span><\/p>\n

Along with this, the expanding demand for the Metaverse is also expected to play a significant role in keeping investors optimistic.<\/span><\/p>\n

Recently The Sandbox was deployed on the Polygon network in an effort to take advantage of the blockchain\u2019s faster transaction speed and lesser gas fees.<\/span><\/p>\n

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\ud83c\udf09 We are ready to deploy LAND to @0xPolygon<\/a> \ud83c\udf09<\/p>\n

\ud83d\udd38Each LAND bridged grants a 10 mSAND cashback!
\ud83d\udd38LAND multipliers on both mSAND staking programs are back!
\ud83d\udd38LAND sales and LAND staking features (on Polygon) are coming soon!<\/p>\n

BRIDGE NOW \u27a1\ufe0f https:\/\/t.co\/jlcSKxuBWh<\/a> pic.twitter.com\/1tuAAsqEZP<\/a><\/p>\n

— The Sandbox (@TheSandboxGame) June 28, 2022<\/a><\/p><\/blockquote>\n