The new game of “Yoga Labs” will increase the price of “IPCoin”?
On Thursday (January 12th), Yuga Labs, maker of successful NFT series such as the Monkey Castle Rowing Club (BAYC), announced plans for its new NFT mint, Sewer Pass. The announcement of this news caused a significant increase in the price of other collections of this company, including MAYC and BAKC.
According to Valx and quoted by Ambcrypto, this mint will be done with a new mechanism. The fate of this mint will be determined by the game called Dookey Dash. Holders of BAYC and MAYC tokens can participate in this game for free. Other interested people should buy Sewer Pass token from its holders in secondary markets.
The time to receive this token is from January 17 to February 8. Also, recipients can play between January 18 and February 8 Dookey Dash participate The best score obtained by users will be saved. Based on these points, the NFT tokens “Sure Pass” will be converted into a new and unannounced form on February 15th.
Despite this announcement, the price of IPCoin, which is the token of the Yoga Labs ecosystem, did not have a positive reaction. On the contrary, this token, which had an increase of 32% in the days leading up to this announcement, had a slight decrease (5%) after that. It is also believed that further correction may be in store for IPcoin.
IPcoin analysis shows that the currency’s Directional Movement Index (DMI) continues to paint a strongly bullish picture despite the price decline. The signal and positive DI lines were both above the 20 level, which indicates a bullish forecast.
In addition to the DMI, the relative strength index or RSI is also above 75. But this index also points to oversaturation of APE.
If the announced game and the development of the Sewer ecosystem succeed, IpCoin will likely benefit in the long run. This currency may be used as a medium of exchange in the future Sewer ecosystem. If this happens, the demand for it will increase significantly.
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