Smooth Love Potion Price Prediction 2023-2030: Will SLP reach $1?
Latest SLP Price
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||4.3%||Lower|
Latest SLP News And Analysis
- Axie Infinity Live Players Data (Last 30 Days): Axie Infinity has lost 11,137 players in the last 30 days. However, the platform saw 348,118 active players in the past 30 days.
- Axie Infinity NFT Stats (Last 30 Days):
- Sales: 133.26K, down by 16%.
- Volume: $1.45M, dropped by 6%
- Average Price: $189.49
- Axie Infinity Gaming: Rank: 15th, UAW: 16.6K, Volume: $727.43K
- As of January 2023, Axie Infinity boasted 432,001 monthly active players. However, the current count stands at 348,118 players, indicating a decline of 72,746 active players over the course of 8 months.
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. 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)
Smooth Love Potion Coin Technical Analysis
Smooth Love Potion (SLP), as of the current moment, is valued at $0.00136, and it has persistently been following a downtrend, even as the broader cryptocurrency market has shown signs of a positive reversal. Notably, the coin’s price faced rejection just below the $0.0015 mark. When analyzing the 4-hour timeframe technical chart, several key technical observations can be made:
- The Simple Moving Average (50) is 0.001378, and the Simple Moving Average (200) is 0.001414. The net SLP price is below its 50-day and 200-day MAs. This is a negative indication. Added to it, the 50-day MA is now below the 200-day MA. This adds to the negative outlook of the asset.
- The Relative Strength Index (RSI) for a 14-day period stands at 41.9. The RSI after surging initially is once again on the downtrend and has fallen below 50.0. This suggests that the selling pressure has once again increased.
- The Momentum over a 10-day period is at -0.000020. Added to it the Fear and Greed indicator bars have increased on the Fear zone. The market sentiment surrounding the asset is negative.
- The MACD Level (12, 26) is registered at -0.000004. A negative MACD reading means that the trade recommendation for the asset is to sell.
- The Williams Percent Range (14) is at -98.1. SLP is technically oversold. A reversal is expected at this level but considering the overall outlook of the asset, the reversal is unlikely and the SLP price is expected to fall further.
The support for SLP is $0.00135 and the resistance is $0.00145. Technically the overall momentum of the asset is negative.
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: SLP’s Past Performance
- March 2023: -12.7%
- April 2023: -9.5%
- May 2023: -15.9%
- June 2023: -19.8%
- July 2023: -6.9%
- August 2023: -8.9%
- Last 12 Months: -57.7%
- Since Launch: -99.3%
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.
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 41.5B. 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 shortly.
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? 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.
SLP Coin Price Prediction: Will SLP reach $10?
SLP needs to grow by around 6200 times to reach a price level of $10. This translates into a Market Cap of $416B.
- Past Performance: 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)
- Market Cap at $10: At 416B, SLP’s market cap will be higher than Ethereum is today. There is nothing in SLP that suggests that it is as good or better than Ethereum. Therefore it is unrealistic to expect SLP to reach $10.
Smooth Love Potion Price Prediction Today, Tomorrow and Week
- Smooth Love Potion SLP Price Prediction in the next 24 hours is between $0.00136 and $0.00144
- Smooth Love Potion SLP Price Prediction this week is between $0.00133 and $0.00144
|1. Market's Wisdom||Bullish|
|1a. Market Data||Bullish|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Partially Bearish|
|2a. Social Media Buzz||Steady|
|2b. Social Media Sentiment||Lower|
SLP Price Prediction 2023, 2025 and 2030
- Smooth Love Potion SLP Price Prediction 2023 is $0.00956
- Smooth Love Potion SLP Price Prediction 2025 is $0.00798
- Smooth Love Potion SLP Price Prediction 2030 is $0.0487
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.