Enjin Coin ENJ Price Explodes 70%: Can the Snap Challenge and Degens NFTs Push It 4000% Higher?

Enjin Coin (ENJ) is back in the spotlight with a 69.7% price surge in just 24 hours, pushing the token to $0.1088 after trading below $0.07 the day before. 

Backed by massive trading volume and fresh momentum from Enjin’s newly launched Snap Challenge and Degens NFTs, ENJ is starting to look like a serious contender in the revived NFT and Web3 gaming sector. 

With a strong history and a former all-time high of $4, many investors are now wondering , can ENJ climb another 4000% and reclaim its peak?

What Is Powering the Surge in ENJ Price?

The immediate spark for ENJ’s sudden rally is Enjin’s community-driven campaign called the Snap Challenge, a gamified social contest hosted on NFT.io running from April 15 to May 15, 2025. 

Participants are invited to Snap, Shop, and Score to win one of 10 exclusive NFTs infused with ENJ. With users encouraged to post their participation online, the challenge has created a buzz across Twitter and other NFT communities. 

This renewed social engagement has helped put Enjin back on the radar after months of dormancy.

But the campaign is only part of the story. The real fuel behind ENJ’s price movement is the launch of Degens, a groundbreaking NFT collection with deep blockchain utility. 

Unlike traditional NFTs, Degens come with built-in governance features and financial incentives. Holders of Degens can create nomination pools on the Enjin Blockchain, select which validator nodes are nominated, and earn up to 10% commission on staking rewards. 

Each NFT also comes with a unique staking pool size between 200,000 ENJ and 5,000,000 ENJ. Degens are being distributed gradually, starting with early contributors from Enjin’s Efinity crowdloan. 

Later rounds are allocated to users staking ENJ and participating in governance through NFT.io. This release structure promotes long-term community participation rather than hype-driven flipping, reinforcing the protocol’s emphasis on building lasting value.

Enjin has also designed synergy between its existing assets and the Degens. Holders of Multiverse Founders Tokens (MFTs) receive a 4% boost in staking power per token, while Greenbox NFTs increase the maximum staking capacity of Degens by 2% each. 

This layered interaction between NFTs and token staking creates deeper loyalty and compound incentives , a move that redefines what a Web3 ecosystem can look like in 2025.

Read more: Is Trump Launching a New Game?

Can ENJ Realistically Return to $4?

At the time of writing, ENJ is trading at $0.1088 with a 24-hour high of $0.1086 and volume at an impressive $328.6 million. 

The market cap stands at $197.9 million with a fully diluted valuation of $204.3 million. ENJ has a circulating supply of 1.82 billion out of a total supply of 1.88 billion. 

These numbers suggest ENJ is still in its early recovery phase when compared to its peak in 2021, when the token briefly surpassed $4.

For ENJ to hit $4 again, it would need a 4000% increase, a scenario that seems extreme at first glance. However, there are several points worth considering. 

First, ENJ’s previous all-time high was achieved at a time when the NFT market was in early exponential growth. 

Back then, Enjin was known as one of the original NFT innovators, offering development kits, wallets, and tokenisation tools long before most competitors entered the scene.

Today, the NFT market is maturing. The speculative bubble has burst, but new forms of NFTs , including governance-enabled collections like Degens, are gaining traction. Enjin is leveraging its early reputation to redefine NFTs for the utility era. 

The success of this transition could be the foundation for a multi-year rally, especially as interest in metaverse and Web3 gaming assets picks up again.

From a technical perspective, ENJ’s current breakout mirrors similar price structures observed in previous cycles. The sharp rise in trading volume indicates new accumulation rather than pure speculation. 

If the Snap Challenge continues to trend and Degens remain actively minted and staked, ENJ could build a narrative powerful enough to attract both new investors and former supporters.

But a move to $4 will require more than just hype. Enjin will need to grow its user base, improve NFT.io adoption, and make Degens a central part of its chain governance. 

If these elements come together and are amplified by macro conditions like a Bitcoin-driven bull market, ENJ could rise far beyond current expectations. 

While 4000% sounds ambitious, it is not impossible for a token with Enjin’s track record and new product roadmap.

Read more: Best Meme Coin to Buy April 2025: Top Picks for Investors

Are Degens NFTs the Key to Enjin’s Long-Term Value?

The release of Degens represents a turning point for Enjin. These 10,042 NFTs are more than just profile pictures. Each one acts as a node governance tool, a staking rewards engine, and a builder’s badge for users who want to shape the future of the Enjin Blockchain. 

This blend of function and culture marks a departure from the JPEG meta of 2021 and introduces NFTs with programmable value.

What sets Degens apart is their role in validator governance. Each Degen can launch a nomination pool, enabling its holder to guide which validator nodes are selected in each era. 

This is not just about visibility or access , it is about influence. Successful pools receive staking rewards and allow the Degen owner to claim a cut of those earnings. 

This system turns NFT ownership into a yield-generating activity and introduces a recurring incentive for long-term engagement.

The design also supports gamification and strategy. Pool sizes are randomly assigned at mint, from 200,000 ENJ up to 5,000,000 ENJ. Larger pools may attract more stake and increase validator election chances, while smaller ones can be enhanced through Greenbox NFTs. 

Combined with MFT staking boosts and future NFT crafting options, Degens evolve into dynamic assets that blend DeFi mechanics with community governance.

The roadmap does not stop there. On May 15, Degen holders will be able to craft NFTs using multiple Degens, combining traits and pool stats into enhanced assets. 

This crafting mechanism brings a collectible layer to the staking system, allowing users to not only earn but also create new forms of governance NFTs.

If successfully implemented, Degens could become the model for other chains seeking to decentralise control without sacrificing creativity. 

Enjin’s bet is that governance can be fun, social, and rewarding , and that users will want to take part not just for voting power but for identity and yield. That bet seems to be paying off already.

Where Can You Buy ENJ Safely?

If you’re looking to ride the momentum or stake ENJ for a chance at earning Degens, Bitrue is one of the best platforms to use. 

The exchange offers fast execution, solid liquidity, and a wide selection of DeFi and NFT-focused assets. Bitrue’s interface makes it easy for new users to buy and hold ENJ or set up strategic orders during high volatility periods.

Bitrue also supports staking and flexible trading pairs, making it a strong option for both investors and active traders. 

With ENJ back on watchlists and community activity climbing, Bitrue provides a reliable and efficient way to get exposure to the token as the Degen and NFT.io momentum builds.

Conclusion

ENJ is no stranger to hype cycles, but this time the fuel is different. The Snap Challenge is driving visibility, and Degens NFTs are bringing long-term utility and yield into the Enjin ecosystem. 

With staking, governance, and NFT crafting on the horizon, ENJ is positioning itself as a next-gen infrastructure project for NFT-driven networks. 

Whether or not it climbs 4000% back to $4, one thing is clear, Enjin has reentered the conversation with real products and a compelling reason to hold.

Frequently Asked Questions

1. Why is ENJ pumping right now?
ENJ is surging due to the viral Enjin Snap Challenge and the launch of Degens NFTs, which add staking and governance utility to the ecosystem.

2. What are Degens and why do they matter?
Degens are NFTs that allow holders to launch validator nomination pools, earn staking rewards, and influence the Enjin Blockchain’s governance structure.

3. Where can I trade ENJ?
You can buy and trade ENJ on Bitrue, a top exchange that offers fast access to gaming and NFT tokens with staking support and strong liquidity.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

Bitrue Official Website:

Website: https://www.bitrue.com/

Sign Up: https://www.bitrue.com/user/register

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.