ALICE Price Pumps Out of Nowhere – Best Crypto Gaming Coin to Invest in Instead

The ALICE price exploded by nearly 100% over the past week, catching many traders off guard. This gaming coin performed incredibly well in 2021 but seemed to lose momentum after the bull run. So, what’s behind this sudden revival?

Let’s analyze the ALICE price pump and why PlayDoge could be a potential gaming crypto worth considering instead.

Although ALICE spiked close to 100% this week, it is currently trading around $2.3 – far below its all-time high of $27.2. Despite the recent rally, ALICE is still down over 90% from its peak.

This is clearly visible on the ALICE chart since when you zoom out, you can see that the coin is in the downtrend mode since early 2022.

Also, there’s another worrying sign after the price increase as the My Neighbor Alice vesting wallets deposited 2.09M $ALICE ($5.44M) to sell it (reported by LookOnChain), likely contributing to the ALICE price already being down almost 10% today.

ALICE is the utility token used to purchase, rent, and sell non-fungible tokens (NFTs) like virtual land plots and other assets within the MyNeighborAlice game’s marketplace. It is also required to craft certain types of NFTs, with a portion of the ALICE being locked into the crafted item but reclaimable by “burning” the NFT.

MyNeighborAlice is an open-world multiplayer game where players can buy virtual islands made of land plot NFTs, customize their islands, interact with others in the metaverse, and progress through a storyline by completing quests. While free-to-play, owning ALICE and NFTs enhances the gaming experience, and players can earn ALICE through gameplay to sell for real money.

The current market cap is just around $158 million, but ALICE was one of the strongest gaming cryptocurrencies in 2021, following the path of juggernauts like Axie Infinity (AXS), which had a $44 billion market cap at its peak but now sits around $1 billion.

The recent price surge could be attributed to MyNeighborAlice’s announcement of a new staking feature. With this feature, players can stake their crafted NFTs to earn compounding rewards in ALICE at an 18% APY rate. The more NFTs staked, the more ALICE rewards earned over time.

Now, what’s the meaning of staking? Staking means that the above-mentioned NFTs can be staked into our platform, producing some juicy rewards in $ALICE !

Yeah, you read it right: everything by just using the platform we love the most