FUNToken price prediction: What is FUNToken (FUN)?

Will FUN recover from the crash, or is the party over?

FUN                                 
Can FUNToken break through the bears? - Photo: Shutterstock
                                

Contents

The FUNToken crypto was a game changer – no pun intended – when it first came out. What is FUNToken (FUN)? Let’s answer that question and look at FUNToken price predictions, too. 

FUNToken explained

While cryptocurrency is serious business, it does not have to be all staking, proof-of-work, and DAOs. It can give people a chance to take a break and do something they enjoy. One of the more popular forms of recreation on the internet is gambling. According to a report by the National Centre for Responsible Gaming, there were around 3,000 online sites dedicated to gambling in 2013 and, by now, there are almost certainly many more. With cryptocurrency being, basically, a form of currency, it was only a matter of time before someone saw the potential for a link between crypto and gambling.

In 2017, FunFair, an online crypto organisation founded by the London-based game programmer and entrepreneur Jez San, created the FUN crypto token. Since then, FUNToken has become its own business, run by the online gambling pioneer Adriaan Brink.

Either way, the idea behind FUN is that it is used as currency on FUNToken’s own online casino, Dplay, billed as a decentralised online gaming platform powered by Ethereum.

Neither FUN nor FunFair have a whitepaper. This might give some potential investors cause for concern. 

FUN is supposed to undergo a burn every six months, seeing its supply drop by 50% each time. FUNToken conducted the first of a series of regular burns in September 2021, erasing five million on-chain tokens from circulation.

That sounds like a lot, but in real-world terms, only just over $90,000 in FUN was burned. Burns are intended to push the value of a crypto up, but FUNToken’s five-million-token burn led to little to no change in the market value of FUN. This was because  the number of tokens burned represented just 0.045% of the then-total supply of 11 billion. This is not exactly what the proposals implied. 

FUN price history

Before we take a look at the FUN price history, while past results should never be taken as any sort of indicator of future performance, knowing what the crypto has done can be very useful when it comes to making a FUNToken price prediction.

When FUN was first launched onto the open market in 2017, it was worth about $0.01. By 1 July, it had experienced a significant moon shot and was trading at a record high of $0.3379 before plummeting back down to close the day at $0.01917. While it stayed around there (and the price on 1 July still stands as a record high), in early 2021, the market saw a noticeable upturn, and FUN was one of the cryptos that benefited in the bull market. Having started the year at less than half a cent, it went on an upward surge, reaching a pinnacle on 4 April of $0.06871. The Great Crypto Day Crash of 19 May saw it enter a slow, stagnant summer, with the low point coming on 20 July when it fell to $0.01339. 

A growing interest in non-fungible tokens (NFTs) pushed FUN to a high of $0.03823, but FUN closed the year at $0.01473.

FUN price history
FUNToken price history - Credit: Currency.com

So far, 2022 has been a famine following 2021’s feast, and FUNToken has suffered. On 9 May, it dropped below the cent to close at $0.009472.

By this time, the market was just starting to go through the turmoil caused by the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, and the coin struggled for the next month or so, with it finding it difficult to break past $0.009. Just as overall market conditions looked like they might improve, the Celsius crypto loans platform stopped allowing customers to make withdrawals, confirming the bearishness of the market. By 16 June 2022 FUNToken was worth around $0.0078. At this time, there were 10.98 billion FUN in circulation, out of a maximum supply of a little below 11 billion. This gave it a market cap of around $85.26m, which made it the 189th largest crypto by that metric. 

FUNToken price prediction

Looking at FUNToken price predictions, keep in mind that cryptocurrency price forecasts are very often wrong. It is also worth remembering that longer-term crypto price predictions are often made using an algorithm, which can change at any moment. 

CoinsKid makes a FUNToken price prediction for 2022 that sees it get to $0.0121 in December, before it hits $0.0134 in June 2023. The token should then move to about $0.0164 a year from then while, in June 2025, it should reach $0.036, the site predicts. There should be more growth a year from then, CoinsKid thinks, when it may rise to $0.0485 before idropping down to trade at $0.0436 in September 2026.

CryptoNewsZ has a FUN price prediction that suggests the token can reach $0.021 this year, before it hits $0.035 next year and $0.042 the year after that. The site’s FUNToken price prediction for 2025 is $0.05 and it could be worth $0.116 in 2026.

DigitalCoinPrice says that FUN can reach $0.0103 in 2022 before it moves to $0.0112, where it will stay for a couple of years. There will be more upward movement by 2025, it believes, when the token should be worth $0.015, but 2026 should see a dip in the token’s fortunes to $0.0144, the site thinks. In 2027, there will be recovery, it believes, and the token should trade at $0.0185 before it climbs to $0.025 in 2028. The site says FUN will close the decade at $0.0321, before making a FUNToken price prediction for 2030 of $0.0358. In 2031, FUN should be worth $0.0408.

Finally, WalletInvestor is a lot more bearish in its FUNToken crypto price prediction, arguing that it will slide considerably over the next 12 months to reach $0.000836 in June 2023.

Final thoughts

FUNToken does not have a whitepaper, which might well raise eyebrows when it comes to investors. While some cryptos do not identify the people behind them and have a whitepaper, FUN seems to be operating the other way around. This might put some investors, who would like to know how a system and a crypto actually work, off.

Second, it can be hard to see how the system’s gaming operations can last in a crypto world which now has plenty of metaverse tokens to go around. Online gambling may be popular, but for someone who is excited about the theoretical possibilities of play-to-earn gaming might rather pick something in the metaverse, which is bright, shiny and new, rather than risking it in an online casino.

Meanwhile, a hardened gambler might prefer a traditional, fiat, gaming platform. In any case, when it comes to FUN itself, the same principles apply to it as they do to all crypto: it is best to stay cautious and do your own research before you jump in and invest.

FAQs

As of 16 June 2022, there were 10.98 billion FUN in circulation, out of a maximum supply of 10,999,873,621.

Possibly. What you will have to remember is that the crypto market is bearish at the moment so, if there are profits to be made from FUN, they may not turn up for a little while. As it stands, you will have to do your own research before you make a decision.

It might do, although it has been on the downturn lately. Some people might suggest this is the sort of dip that comes before a return to form but cryptocurrencies can be highly volatile and prices can go down as well as up.

Only you can answer this question. Before you do so, you will need to carry out your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.

Further reading

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