Gaming-related cryptocurrencies had a stellar start in 2023, as the majority of tokens jumped more than 50% in 30 days. Sandbox gained the highest as it spiked 85% in January, reaching from $0.40 to a high of $0.74 in four weeks. SAND attracted heavy bullish sentiments this year, making its market cap to reclaim the $1 billion mark.
The token is hovering around $0.71 on Tuesday and is looking to break through its previous resistance level of $0.74. Another leg-up could take SAND to new highs after it plummeted below $1 in September of last year.
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Can Sandbox Reach $1 in February 2023?
Sandbox nearly doubled in price in January and is looking to complete a full circle of a 100% rise in the indices. Pseudonymous cryptocurrency analyst Cantering Clark believes that the play-2-earn token could surge this month given the strength of the gaming sector.
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The analyst predicted that Sandbox could touch a minimum of $1 in February 2023 before briefly retracing in price.
“Good chances that this is the pivot spot for SAND to continue. Retesting prior weekly lows as support above after a 2x off the lows. Unlock is in  days so there is probably a ton of hedging baked in. Gaming has been number one over 30 days, the last week, and the last 24 hours. Minimum $1,” he predicted.
Gaming tokens took the top spot in January, and if the sector maintains its positive run, it could reach new monthly highs in February. Its counterpart gaming token, Avalanche (AVAX), jumped nearly 77% in January alone, going from $11 to $19 in 30 days.
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At press time, Sandbox was trading at $0.71 and is down 1% in the 24 hours day trade. SAND is also down 91.5% from its all time high of $8.40, which it reached in November 2021.