Enjin Coin (ENJ) Price Soars 60%, Volume Skyrockets 2,400%: What Happened?
The post Enjin Coin (ENJ) Price Soars 60%, Volume Skyrockets 2,400%: What Happened? appeared on BitcoinEthereumNews.com.
Key Notes ENJ surged past $0.10, marking a 60%+ daily gain. The token’s market cap briefly topped $200 million, pushing it up 80 ranks. A breakout from a long-standing downtrend was confirmed by two strong daily green candles. Enjin Coin ENJ $0.11 24h volatility: 66.0% Market cap: $201.06 M Vol. 24h: $469.95 M has soared over 60% in the past 24 hours, now trading at $0.1088. The token has recorded a 2,400% jump in trading volume, now at $421 million. This rally marks a decisive breakout from months of bearish consolidation amid the broader surge in NFT utility tokens. According to the data by CoinMarketCap, ENJ’s market cap briefly climbed above $200 million, lifting the token nearly 80 spots on the global crypto leaderboard. The driving force behind the explosive move appears to be the recent launch of Enjin’s newly launched NFT Software Development Kit (SDK). The product enables developers to easily embed NFTs into gaming environments and other applications. 📈 $ENJ surges 33% to $0.0903 as traders spot fresh momentum, point to key reasons behind the pump: 🔹 Technical breakout: Strong reclaim above $0.086 + bullish divergence = trader confidence 🔹 NFT SDK launch: Enjin’s new dev tool fuels optimism for NFT adoption 🔹 Volume… pic.twitter.com/aIygAYXdda — Mayank Dudeja (@imcryptofreak) April 21, 2025 Additionally, the recent integration of the Efinity parachain into the Polkadot ecosystem has also improved Enjin’s scalability. The blockchain is now more equipped to support real-time gaming economies and large-scale NFT deployments. ENJ Price Outlook Notably, since December 2024, ENJ was trading within a downward parallel channel. On Sunday, the price move suddenly flipped as ENJ punched through both the upper trendline and a crucial horizontal resistance. Two strong green candles on the daily chart marked this breakout. $ENJ is trading at $0.0901, reflecting a 34.99%…
Filed under: News - @ April 21, 2025 2:28 pm