What is My Neighbor Alice and is It a Good Investment?
My Neighbor Alice (ALICE) price popped on Tuesday as interest of metaverse coins rose. The ALICE token jumped by more than 23%, pushing it to the highest level since August this year. It has risen by more than 170% from its lowest level in September this year.
What is My Neighbor Alice?
My Neighbor Alice is a blockchain project that is in the metaverse industry. A closer look shows that it has some resemblance to other metaverse cryptocurrencies like Decentraland and The Sandbox.
The platform enables people to buy and own virtual islands, meet new friends, and even collect items in the form of non-fungible tokens (NFT). The game was developed by Antler Interactive, a company that has built several other games.
My Neighbor Alice users first need to buy a piece of land, which is known as a plot. After that, they can make some improvements to make it as attractive as possible. They do this using products like vegetation and other in-game assets. Shopping in the game is done through ALICE, the native token for the ecosystem.
The game has attracted millions of users from around the world. And it will keep growing, especially after the developers introduced a new grant program worth $80 million. This grant will be provided developers building add-ons and utilities in the game.
Like other metaverse coins, My Neighbor Alice price has been in a strong bullish trend lately. This growth accelerated after Facebook announced that it will shift to become a leading player in the metaverse industry. Subsequently, according to CoinGecko, the ALICE token has seen its total market cap grow to more than $400 million.
ALICE price prediction
The four-hour chart shows that the ALICE price has been in a strong bullish trend in the past few weeks. The coin managed to move above the important resistance at $23.84 on Tuesday. This was a notable level since it was the highest level in August. It also managed to move above the key resistance level at $18.52, which was the highest level in August.
My Neighbor Alice price has moved above the 25-day and 50-day moving averages. Momentum oscillators like the Relative Strength Index (RSI) and MACD have also been rising.
Therefore, there is a possibility that this coin will keep rising as the metaverse tokens continue doing well. If this happens, the next key level to watch will be $30.