The recent Bitcoin rally has stirred up the entire altcoin market, allowing the entire crypto industry to see significant price growth. Enjin Coin (ENJ) emerged as the best daily performer in the last 24 hours after seeing its price skyrocket by 60%.
Enjin coin price performance
Enjin is no longer a young coin, given that it emerged in late 2017 — over three years ago. But, it certainly did not sit still during this time. It had its ups and downs, reaching an ATH of $0.49 in January 2018, dropping to $0.023 eleven months after that, only to surge once again to $0.2 in March and April of 2019.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
The coin’s price started 2020 relatively low, at around $0.07. It surged to $0.149 in February, only to see a crash when the mid-March price crash caused by COVID-19 fears had arrived.
Since then, ENJ has been seeing a strong recovery which led it to $0.223 in late May 2020. The surge was followed by a correction to $0.15, and then by another rally to $0.237 in August.
In early September 2020, the coin crashed once more, this time to $0.15, and after that, it saw strong fluctuations between $0.11 and $0.15.
ENJ in 2021
Enjin started 2021 at $0.13, trading sideways for several more days. However, its price started growing around January 4th — four days ago. This initial growth was slow, and ENJ took three days to climb up to $0.18.
After that came a brief correction to $0.16, which was followed by a sudden and rapid spike up. In the last 24 hours, ENJ went from $0.16 to $0.27.
The surge was not without its difficulties, of course, as ENJ hit a resistance at $0.24. The resistance rejected its price two times before the coin managed to breach it.
Meanwhile, the surge also brought a rapid increase in volume, as everyone rushed to buy ENJ as soon as its price started moving up. The coin’s volume at $0.16 sat at $29 million. By the time its price reached $0.27, the volume went up nearly 10 times, to $266.8 million.
At the time of writing, the coin’s price is experiencing another mild correction which currently holds its price at $0.25, but still 50% higher than 24 hours ago.