ECOMI price prediction: Can ECOMI draw in crypto investors?
ECOMI’s OMI has a strong burn strategy and clear utility, but market volatility is biting
- An overview of the ECOMI project
- OMI tokenomics: the basics
- OMI’s latest trading activity
- Checking the forecasters
An overview of the ECOMI project
OMI is the GO20-standard utility token powering the ECOMI digital collectables project and its associated VeVe application and digital showroom. The Singapore-based company provides one of the largest collections of digital pop-culture assets built on the GoChain network, with licensors ranging from Marvel and DC Comics to Coca-Cola and Citroën.
ECOMI differs from NFT marketplaces such as OpenSea and Rarible in that its digital assets are not interoperable with other wallets – its collectables exist solely inside the OMI wallet. ECOMI has also been criticised on social media – principally among Reddit users – for its inability to convert in-app tokens back into fiat currency, while the abundance of bots snapping up entire collections is also a cause for consternation for some.
Despite these issues, ECOMI boasts a huge global user base, and plans to complete its current migration of the platform over to Ethereum’s Layer-2 Immutable X protocol might alleviate these concerns.
OMI tokenomics: the basics
Before assessing the ECOMI coin price prediction, let’s look at some key figures. OMI has a maximum supply of 750 billion, with a current circulation of 166.29 billion. At the time of writing, the coin was trading at $0.0055, giving ECOMI a market capitalisation of $921.62m. A recent 24-trading high of $9.13m amounted to 0.9% of the market cap.
ECOMI conducted a private presale and initial exchange offering (IEO) throughout 2019 when 20% of supply was made available. A further 40% is reserved as liquidity on the VeVe app, and 20% is held by developers, advisers and board members. The remaining 20% is reserved for business development endeavours. Vesting periods are in place for company tokens to prevent dumping.
ECOMI’s burn and buy-back strategy seeks to maintain deflationary pressure. The details are explained on its website, but in short, the equivalent value of primary in-app purchases is burned from the supply, contributing to scarcity. Additionally, 10% of company revenues from primary sales go towards purchasing OMI on the exchanges to keep in-app liquidity replenished
OMI’s latest trading activity
OMI hit an all-time high of $0.013 on 19 March in the early stages of the 2021 crypto bull run. Since then, OMI has proved to be a volatile asset, with sharp upward price swings and subsequent corrections witnessed from July to October. Despite these corrections, the support line was consistently raised, from $0.001 in late June to $0.005 in late October.
Since then, OMI’s price has been in the $0.0045 to $0.0082 band, having bounced off the $0.005 support line on 14 December. At the time of writing, this same support level is being tested after it failed to break through the $0.008 resistance point in the run up to Christmas.
There are some bearish signifiers in the moving averages. After a bearish crossover as the nine-day moving average crossed below the 21-day moving average, the gap has continued to widen. Another bearish indicator is the moving average convergence-divergence line being in the red.
Trading activity picked up throughout 11 January, with buying momentum lifting OMI just above the 20-day trend line for the first time since 2 January. Another $0.008 resistance line test may occur if there’s a continuing reversal. If the downturn persists beyond that, however, OMI could drop to support lines of $0.0045, with a potential continuation down to $00.31.
Before considering a trade, potential investors should pay attention to market trends. With bitcoin continuing to witness selling pressure, the effects are likely to be felt across the altcoin space. Be cautious and never invest more than you can afford to lose.
Checking the forecasters
Wallet Investor’s ECOMI price prediction 2022 is $0.0066, climbing to $0.011 over five years. Taking these projections at face value, investors could see scant returns of 20% within a year or a doubling of value over five years.
Using 38 technical indicators, Coincodex is 61% bullish over 39% bearish. A short-term price drop is expected of -6.64%, although the forecaster’s OMI price prediction expects a reversal come February. Investment sentiment is currently neutral.
Glancing at Gov Capital’s ECOMI crypto price prediction, we can see a 12-month OMI price target of $0.007 and a five-year OMI price prediction of $0.013.
Tech News Leader’s ECOMI price prediction 2025 averages out at $0.024, the equivalent of a 3x return of the trading value at the time of writing.
Looking over a wider time frame, PricePrediction’s ECOMI price prediction 2030 caps out at $0.18 for a 31x return against current trading levels.
Please note that digital forecasters use preset algorithms to make ECOMI price prediction estimates. External factors and fundamental analysis is not taken into account. While useful as a guide, these estimates do not constitute genuine financial advice.
ECOMI proved volatile throughout 2021, and recent activity in the wider crypto market is placing downward pressure on altcoin prices. The Reddit community also has concerns over certain company practices.
Conversely, the platform has a large user base, while some forecasters expect gains, if only modest. It is advised to conduct some additional research before reaching an investment decision.
Given recent volatility in the cryptocurrency market, ECOMI has the potential to go down in the short term, in alignment with the wider altcoin market. Forecasters expect gains in the longer term, but remember that forecaster predictions do not constitute genuine financial advice.
It is advisable to conduct thorough due diligence on ECOMI before placing an investment, including reading the white paper, researching the team and checking social media. This article is intended to present you with neutral information, not investment advice.