SAND eyes another ATH: How many tops ahead?

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Santrends
Nov 25, 2021

Assets covered: The Sandbox (SAND)

Metrics used: Social Volume, Active Addresses, Active Deposits, Exchange Inflow, Network Growth, MVRV


SAND at ATH ☝

What could we expect from here?



1. Social Volume

This haven't remain unnoticed by traders, SAND appeared in Social Trends and plotted a maaasive spike on the social volume chart:

  1. It has never been that high. Even on SoftBank investment news.



2. Daily Active Addresses


Same here. A ridiculous spike of active addresses today:

Almost 10K addresses interacting with SAND on the day of writing this.



3. Exchange Activity

Active Deposits and Exchange Inflow:

Both are ramping up very quickly. We are seeing some increased sell side pressure.



3. Network Growth

It's just crazy high.



4. MVRV

We are too high on MVRV chart, in a dangerous overvalued zone.



5. Conclusion


This might be time for a short cool off period before, may be, another leg up. Especially if SAND is able to maintain these levels of network activity. But now it's very close to danger zone. Actually it is in the danger zone for MVRV. Massive spike in social volume. The highest spike in daily active addresses and network growth this year. Active deposits rising in unison. So there are some signs that there is too much hype around SAND.


Like CRO, it might be just a short term top and then another one.


Great if that's all legit. But what we fear is going to happen is another move up and a strong drop down as the crowd moves to another project.



Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.


SAND
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Santrends
Nov 25, 2021

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Assets from this insight

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The SandboxSAND

$ 5.25

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