The PIXEL token experienced a significant price surge of 47% in the last 24 hours, securing its position as the leading gainer on CoinMarketCap today. Over the past week, it has seen an impressive rise of over 80%, and nearly 20% in the last month alone. This sudden market momentum is noteworthy considering no major announcements, new listings, or roadmap updates have accompanied this surge.
Despite the recent price jump, there’s a distinct lack of clear catalysts. The source for this volatility lies within the game itself. PIXEL serves as the in-game currency for Pixels, an open-world farming and exploration game hosted on the Ronin Network. Players use PIXEL to mint NFTs, purchase VIP passes, join guilds, and unlock extra features. Governance is also intended to utilize PIXEL, but this feature has yet to launch.
The game’s popularity has been steadily growing, however, this recent price surge feels more like a reaction to breakout potential rather than being tied to gameplay or developer updates. Earlier this week, PIXEL jumped from $0.032 to $0.062 in a rapid upward movement. Since then, it has pulled back and currently hovers around $0.0467. The price is holding above the crucial $0.044 pivot – if it stays there, bulls might target $0.0497 for an additional climb. If not, $0.039 could be the next target to watch.
Right now, PIXEL finds itself in a high-attention zone, with traders entering and others waiting to capitalize on this price pump.