SLP Price Prediction 2023-2030: Will SLP reach $1?
Read about SLP Price Prediction 2023, 2025 and 2030
Will SLP reach $1? Read on under what circumstances SLP can reach $1
Latest SLP Price
SLP Price Performance Summary
- Last 5 days: -0.3%, Underperformer*
- 1 Month: -18.4%, Underperformer
- 6 Months: -19.1%, Underperformer
- 1 Year: -86.8%, Underperformer
*Vs Mana, Top performing Metaverse/ Gaming token
SLP Technical analysis summary
- 50-day Moving average – The current price is trading above the average, a bullish sign
- The RSI is currently at around 65 suggesting that there is bullish momentum building.
- Trading volume continues to remain at elevated levels.
- The resistance level at around 0.0029 while the support level is at around 0.0025
Overall, the technical analysis suggests that the asset is currently experiencing bullish momentum and that there may be some resistance at around 0.0029.
SLP Price Prediction: Is Smooth Love Potion a Good Investment?
Smooth Love Potion (SLP) is an ERC-20 token used in the Axie Infinity gaming universe. Smooth Love Potion tokens are earned by playing Axie Infinity games as the project was founded by Trung Nguyen, who left his role as a software developer in the U.S. in order to focus on the project. One of the interesting facts about the SLP token is that the Smooth Love Token is burned every time new Axies are bred.
SLP serves as a native in-game currency for Axie Infinity games. Gaming and Play-to-earn games will remain popular over the next 10 years. Some estimates suggest Play to Earn could grow 20-fold over the next 3 years. Here is what we learned about Play to Earn gaming
- Play to Earn Games tend to do well when rewards are high. This may sound obvious but remember they are thousands of games where there is nothing to earn and yet has people hooked.
- Almost all Play to earn games have struggled once earning potential is down. This implies that the games lack strength in quality and are heavily reliant on payouts.
- However, payout value (in dollars) is reliant on how well the in-game token is performing on the cryptocurrency exchange. Earning value (in dollars) falls if the cryptocurrency underperforms in the market
- Cryptocurrency prices in turn are influenced by numerous reasons including macro and industry factors
- In other words, the current play-to-earn models will not be viable unless they are enjoyable irrespective of the reward or the reward is substantially higher than the time spent (Example: Gambling)
SLP Use Cases
The following are the primary use cases of SLP tokens:
- SLP tokens can be used to breed Axies within the ecosystem of Axie Infinity.
- SLP tokens are used to reward the players when they win fights with their Axies.
- Users can trade SLP tokens with other cryptocurrencies on the crypto exchange platform.
- SLP coins can also be used for making payments to various merchants in the Philippines.
SLP Coin Price Prediction: Performance in the Last 6 Months
- October 2022: +2.1%
- November 2022: -24.5%
- December 2022: -20.6%
- January 2023: +51.4%
- February 2023: +5.1%
- March 2023: -18.6%
Axie Infinity Live Players Data (Last 30 Days): There has been a marginal drop in the number of players on the Axie Infinity platform. In the last 30 days, the platform saw 389,095 players visiting the platform.
This is well below the number of players who visited the platform before May 2022. The peak daily user count on the Axie Infinity platform was 2.7M. On 9th May 2022, the active user count fell below 1 Million for the first time in 2022 and since then it has been falling rapidly.
Currently, the number of active users per day on the Axie Infinity platform is slightly over 20,000.
Overall, SLP and other Play-to-Earn tokens are heavily reliant on Macroeconomic liquidity. The only way they can recover is via better game quality or a significant increase in reward. At the moment, SLP is not a good investment.
Axie Infinity NFT collection stats
As per the data from DappRadar, Axie Infinity’s NFT sales have increased by 3.05% in the last 30 days.
Whereas, there is a 36.81% increase in NFT sales in the past 7 days.
Will Smooth Love Potion Reach $1: Why SLP May Reach $1?
Expansion of Blockchain Gaming: The blockchain gaming industry is expanding and SLP is bound to play a very important role in it. Axie Infinity is one of the most popular blockchain-based gaming cryptocurrencies. Smooth Love Potion (SLP) is the primary in-game asset of Axie Infinity. Therefore, with the expansion of blockchian gaming, Axie Infinity will automatically gain and thereby it will help in increasing the demand f SLP tokens.
Limited Supply: Limited supply is one of the advantages of SLP. Currently, the circulating supply of SLP tokens is 43.33B. Now once the market condition improves, there are higher chances of demand for SLP increases. Once the demand increases the chances of the supply of SLP going down are very high. With limited supply and rising demand, SLP prices may start rising and may reach $1 or above in the near future.
If we look at the SLP future price predictions, there are hardly any chances of SLP reaching $1 even by 2030. However, it must be remembered that all these predictions are aggregate predictions from multiple platforms. It is dependent on the current market condition. As the market condition improves, the future price prediction of SLP will also improve.
However, a question arises, Will Smooth Love Potion Reach $1, if Yes, then when and how will Smooth Love Potion Reach $1? In order to check when and how SLP will reach $1, some calculations will give a clear picture of it.
How Will Smooth Love Potion Reach $1?
|If SLP Gains 20% per year, $1 In How Many Years?||31 Years|
|If SLP Gains 30% per year, $1 In How Many Years?||22 Years|
At the current price and the market condition, the earliest time duration for SLP to reach $1 is 14 years, provided it gains 50% a year from now.
Will SLP reach $10?
SLP is currently priced at $0.0028, meaning that it needs to grow by around 3,571.42 times to reach a price level of $10.
Also, SLP’s all-time high price is $0.36 which it achieved in May 2021. Note that SLP crypto grew by 27.69 times in 5 months ($0.013 in January 2021). Thus, it grew by nearly 5.54 times in one month.
Hence, to reach $10, SLP needs a minimum of 644 months (more than 53 years) which is not practical to wait for.
furthermore, considering the current macro and microeconomic factors, SLP can certainly cross that value in the calculated time either. Therefore, SLP cannot be expected to reach a price level of $10.
SLP Burn Statistics
SLP Price Prediction 2023, 2025 and 2030
- Smooth Love Potion SLP Price Prediction 2023 is $0.0267
- Smooth Love Potion SLP Price Prediction 2025 is $0.0109
- Smooth Love Potion SLP Price Prediction 2030 is $0.0526
Smooth Love Potion Price Prediction Today
|Overall Outlook||Partially Positive|
|1. Market's Wisdom||Positive|
|1a. Market Data||Partially Positive|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Steady|
|2b. Social Media Sentiment||Neutral|
SLP Reddit Discussion
In a most recent discussion on Reddit, one user posted that SLP is better than AXS in terms of investment.
In this discussion, one user commented that SLP is a highly undervalued asset and it can do wonders in the situation of a better economy. He further added that an analytic firm has also reported increased volume activity in SLP.
Though the post doesn’t have much engagement as of now, it looks like some of the people have high hopes for SLP.
Also Read: Sandbox Price Prediction
Where can I buy SLP?
SLP can be bought on major centralized and decentralized crypto exchanges including Binance, Gemini, Bitstamp, KuCoin, Gate.io, OKX, Bitvavo, WazirX, Pancakeswap, Sushiswap, and UniSwap.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.