- Summary:
- Will the new Mega-City land sale on Sandox boost the price of the Sand token? Learn more today.
As we enter 2022, the sellers seem to be in control of the SAND price.
SAND saw a significant loss of 39.42% while dropping from $7.12 on December 28th to $4.20 on January 10, 2022. However, the price now seems to be pushing to the upside for a correction phase.
Mega-City sale on Sand
The latest buzz around the Sandbox is the new LAND sale that is launching on 13 January 2022 at 1 PM UTC. The previous Snoop Dogg land sale on 2nd December attracted a lot of buyers. During the sale, a piece of land sold for $4.3 million near Snoop Dogg’s virtual mansion.
The name of the new land is Mega City, which is a new map in the Sandbox metaverse. The Mega-city map will be acquired by multiple Hong Kong partners from different industries, ranging from entertainment to real estate, music, finance, and gaming.
A few of these partners are some well-known entrepreneurs and brands like Stephen Fung and Shu Qi, Sun Hung Kai & Co. Limited (SHK & Co), TIMES CAPITAL, Adrian Cheng, Dough-Boy@BlueArk, and Adrian Cheng.
Adrian Cheng an entrepreneur, based out of Hong Kong, has bought his XL Estate (24 x 24 LANDs), which will be the innovation hub of Mega-City. Sun Hung Kai & Co. Limited (SHK & Co) has an XL Estate that will bring his experience in finance, sports, art, and culture from around the world to the Sandbox.
The Mega-City will also have a large NFT gallery presented by TIMES CAPITAL, a blockchain-related investment fund institution. They have Their 12×12 ESTATE in the Sandbox Metaverse.
Effect on SAND price:
At the time of writing, SAND was trading at $4.82 and is up 8.84% in the past 24hours.
On the 4hr SAND/USDT price chart, we can see the price has formed a head and shoulders pattern, with the head touching $6.96 on December 26th.
After the break of the neckline formed at $5.84, the price started falling creating a series of long bearish candles. The price thereafter started to follow a bearish trendline, making lower highs and lower lows.
The price recently broke the bearish trendline and almost reached the previous swing high formed at $4.91on 9th January showing bullish sentiment in the market.
If the price breaks the resistance zone and swing high at $4.91, the price could then move up and trade around $5.20. However, if the price fails to break above the high, it may trade to the major low formed at $4.19.
