SENSO price prediction: Further losses ahead?
The global cryptocurrency market has fallen about 24% in value, from $2.21trn on 1 January to $1.68trn at the time of writing (22 February), according to CoinMarketCap. A metaverse token SENSO followed the general trend, trading more than 80% down from its all-time high of $3.27, achieved on 21 November 2021.
While the metaverse and play-to-earn games remain among the crypto trends in 2022, only a few projects will lead the way. Can SENSO become one of them?
Let’s consider the project’s fundamentals and latest developments to get a clearer view of a plausible SENSO price prediction.
What is SENSO crypto?
Mikhail Prokhorov founded Sensorium, a metaverse project, in 2018. Sensorium Galaxy is a virtual reality (VR) platform that drives the Sensorium metaverse, connecting people via immersive events and entertainment. Each world inside the galaxy serves as a content centre for specialised activities.
Sensorium Galaxy's initial two worlds are known as Prism and Motion. Sensorium Corporation oversees the Sensorium Galaxy platform's technology development.
Before exploring the Sensorium Galaxy, users must first construct an avatar, a virtual version of themselves. After that, they can select an avatar from an extensive library and personalise it with various purchased accessories and graphic effects.
Once the avatar is complete, the user can explore Sensorium Galaxy and connect with anybody in the universe using the voice chat function. Users can register for any activities or live events that interest them. Also, it has a vast gallery from which viewers can choose and watch on-demand entertainment.
Sensorium Galaxy has collaborated with internationally renowned artists such as David Guetta, Armin Van Buuren and Nina Kraviz to offer immersive virtual shows “in fantastical sites well outside the confines of everyday existence”. The project intends to generate revenue via ticket sales, premium memberships, and in-platform products, which could be bought using the SENSO token.
SENSO is Sensorium Galaxy's native token, which users can use to enhance virtual beings, get access to special activities, subscribe to premium content, and purchase tickets.
Senso token news and price drivers
The project has undergone a number of significant milestones and developments lately, which may drive the SENSO coin price.
Launch of new features amid anticipated public launch
Sensorium launched a closed beta for its metaverse in April 2021, allowing participants to visit two virtual worlds for the first time: PRISM, a world devoted to music events, and MOTION, an underwater-themed world centred on concentration and relaxation.
In December 2021, Sensorium unveiled several new features as it prepared for its public debut. For example, sensorium users can now attend concerts conducted by AI-driven DJs in PRISM. These virtual musicians, created in collaboration with Mubert, generate dynamic music in real-time, reacting to various surroundings and festival goers' moods.
Additionally, artists can mix individual parts, such as drum beats, synth pads and bass lines, to create algorithmically created, limitless music streams that never repeat.
First AI-powered album release
Somnium released the first AI-powered album by virtual artist Kàra Màr in December 2021, with additional albums and artists to follow.
When offstage, Kàra Màr and other Sensorium AI-powered musicians will be accessible to fans through text and video calls on the Sensorium Galaxy mobile app.
Sensorium says Mubert's patented technology enables these virtual artists to make music continuously. Sensorium has also given them virtual bodies, intellect, and social skills. These AI-driven artists can handle unscripted conversations for hours and possess long-term and short-term memory.
Moreover, the characteristics of these virtual beings evolve spontaneously and unpredictably via user interactions without intervention from developers.
Partnership with DJ and producer Steve Aoki
Steve Aoki, a Grammy-nominated electronic music DJ and producer, joined Sensorium Galaxy in October 2021.
Aoki is scheduled to launch a series of unique concerts in PRISM, where sound frequencies influence the landscape. He will perform as a photorealistic avatar created using advanced motion capture and 3D scanning technology.
According to the press-release, Steve Aoki is one of the world's most sought-after artists, having amassed over 4 billion song streams. Additionally, he holds the Guinness World Record for the most-travelled artist, having performed 168 gigs in 41 countries in a single year.
“Metaverse makes an ideal playground to explore human interaction with technology. In Sensorium Galaxy, the social mechanics of meeting and befriending other concert-goers closely intervene with an AI-enabled ever-changing environment. This unlocks a totally new level of entertainment for both the artist and the audience. I’m thrilled to share with fans this immersive experience on the intersection of music and sci-fi,” said Aoki.
Launch of Sensorium DLT
Sensorium announced "Sensorium DLT" in June 2021, a business subsidiary focusing on blockchain-based technology and crypto services.
The division will use Sensorium's significant knowledge in the digital asset sector to provide solutions suited to the demands of companies and partners in the entertainment industry.
Sensorium's DLT comprises of three primary services:
Blockchain Infrastructure: Specifically designed to boost the productivity of entertainment enterprises, this solution offers Blockchain-as-a-Service (BaaS), token development and launch, and marketplace development assistance.
DApp solutions: Users could profit from the adoption of decentralised application (DApp) solutions and the development of methods for interconnecting a diverse set of DLT solutions.
Non-fungible Tokens (NFTs): Designed to increase the versatility and reach of existing digital certificate applications in new areas of entertainment, including gaming, metaverses, multimedia and sports.
SENSO/USD price analysis
Since inception, SENSO has generated a ROI of 550%, according to CoinMarketCap as of 22 February.
Based on the earliest available price data from 2020, the SENSO token fell from $0.21 on 5 May to an all-time low of $0.189 on 19 May. It closed the year at $0.301 on 31 December.
SENSO token’s price action turned bearish at the start of 2021 and fell to $0.22 on 7 February. Further, SENSO gained solid bullish momentum and reached $2.26 on 30 April, a massive increase of 895% in less than three months.
The rally didn’t sustain, and the SENSO coin value fell to $0.71 on 27 June and bottomed to $0.46 on 12 August, a decline of nearly 80% from the peak.
After making the low, SENSO token price action turned bullish, and it reached an all-time high of $3.27 on 21 November. The surge in the token’s price could be driven by the launch of the Sensorium Galaxy mobile app.
Sensorium Galaxy Mobile app is officially released! Connect with the most advanced AI-powered virtual beings and leverage AR capabilities to generate unique, pro-level dances & more. Get creative in a very amusing and intuitive way now!https://t.co/xQeGG2HkNZ pic.twitter.com/eo36tqJvmc
— Sensorium Galaxy (@SensoriumGalaxy) November 22, 2021
Since making the high, the SENSO token has been trading downwards and closed the year at $1.52.
At the time of writing (22 February), SENSO’s price action turned extremely bearish and fell to a 90-day-low of $0.63. It had a market capitalisation of $7.7m. Will the coin manage to rebound and test new highs?
SENSO price prediction: Targets for 2022, 2025, and 2030
The short-term SENSO technical analysis from CoinCodex was bearish, with 24 indicators giving bearish signals and three bullish signals, as of 22 February 2022.
All the daily and weekly simple moving averages and exponential moving averages, as well as the Hull Moving Average (HMA) and the volume-weighted moving average (VWMA), were giving sell signals.
The stochastic fast, Williams percentage range and relative strength index (RSI) gave buy signals. Meanwhile, the moving averages convergence divergence (MACD) and average directional index (ADX) kept neutral.
According to a short-term SENSO price prediction by CoinCodex, it could reach $ 0.73 by 27 February.
Meanwhile, several algorithm-based forecasting services shared long-term SENSO crypto price predictions as of 22 February:
Wallet Investor estimated the average price of SENSO to reach $1.49 by the end of 2022 and $4.05 by the end of 2025. Its five-year SENSO/USD forecast suggested it could hit $5.02 in February 2027.
SENSO prediction from Digital Coin suggested the coin could hit an average of $0.91 in 2022, $1.05 in 2023, $1.42 in 2025 and $3.12 in 2030.
Similarly, Price Prediction believed the average price of SENSO could hit $1.02 in 2022, $3.24 in 2025 and reach $20.78 in 2030.
When looking for SENSO coin price predictions, bear in mind that analysts and algorithm-based projections can be wrong. Their SENSO predictions are based on fundamental and technical studies of the cryptocurrency’s past performance. Past performance is no guarantee of future results.
It’s essential to do your research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.
FAQs
Is SENSO coin a good investment?
Sensonium is a metaverse project that has achieved partnerships with some of the most prominent musicians globally. However, the price of its native token SENSO has been bearish since it hit an all-time high of $3.27 in November 2021.
Whether the coin is a good fit for your investment portfolio depends on your circumstances and risk tolerance. You should estimate the level of risk you are ready to take before investing.
How high can the SENSO coin go?
According to the SENSO/USD forecast from Price Prediction (as of 22 February 2022), it could go as high as $35.75 in 2031. Note that algorithm-based price targets can prove to be wrong.
Will the SENSO token reach $10?
Algorithmic forecasting services, including Wallet Investor, Digital Coin and Price Prediction (as of 22 February), suggested the coin had potential for gains. Price Prediction estimated the senso coin price could exceed $10 by 2029.
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