What is the reason for the growth price SLP and where to sell it
Updated
In the last week, SLP holders like us and not only us are very happy with the price growth.
The value of SLPUSDT is growing daily +40-70% and is already beginning to move into the euphoric stage. Although before that the value of SmallLovePotion token has been falling steadily for a little over 6 months and this unsuccessful investment has already been buried in the minds of many.
So, without emotions, let's try to determine the reason for the current growth and where to say goodbye to your SLP.
What triggered such a price jump in SLP, we don't know, as well as where it may end. So, everything that will be written below is a mixture of facts and our assumptions:
1. On 27. 01 .22 the developers of Axie Infinity released a control token, Ronin, for their robot battle game Sky Mavis.
But in a tweet they were just bombarded with messages like: You guys are great to release something new, but maybe somehow support SLP from such a steady depreciation.
Ron is now trading at around $3. In our previous SLPUSDT ideas, tradingview users wrote in the comments that they are trying to farm Ron while SLP is in drawdown.
2. SLP issuance has not been limited yet, there is no upper limit further, and as of 10/02/222 they are just over 4bn in circulation.
3. The trading volumes are now 8-10 times higher than they were 2-3 weeks ago, and most likely these volumes are doing up by bots set up for pamp. For the reason that growth doesn't allow deep corrections and opportunity to buy cheaper, hinting: buy now, because later it will be more expensive. But it's a very dangerous thing, especially with margin leverage, because we've all seen how the SLPUSD price can and can fall.
4. The first strong mirror level is around $0.06. That's probably where the first real fight between buyers and sellers will start, as they'll were bogged in SLP a lot of time ago and want to sell it off at zero or at least at a minimal loss.
5. We are also SLP investors, we wrote earlier about our not so successful investment, but it was for a small part of the trading depot, and we know how to wait for the pumping)
Frankly speaking, we do not want to sell our SLP earlier than $0.34-0.35, but will be the price there, we will know soon.
- If the SLPUSDT price will end up in the range of $0.06-0.09 its market capitalization will be in the top 200, it is not serious, don't you agree.
- If it will succeed to rise up to $0.34-0.35, token capitalization will be in the top 100.
- If this growth passes the mark of +1400% from the bottom and stops at $1.20, the capitalization will be in the top 50 and will find +/- in the vicinity of the main token AXS capitalization.
- The maximum that fantasy now allows you to think about is around $2 per SLP , and the capitalization will probably not last long there, but still be able to pop into the top 20.
Please write in the comments your thoughts on what is connected with the growth of SLP price and where its top bar is possible.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
The value of SLPUSDT is growing daily +40-70% and is already beginning to move into the euphoric stage. Although before that the value of SmallLovePotion token has been falling steadily for a little over 6 months and this unsuccessful investment has already been buried in the minds of many.
So, without emotions, let's try to determine the reason for the current growth and where to say goodbye to your SLP.
What triggered such a price jump in SLP, we don't know, as well as where it may end. So, everything that will be written below is a mixture of facts and our assumptions:
1. On 27. 01 .22 the developers of Axie Infinity released a control token, Ronin, for their robot battle game Sky Mavis.
But in a tweet they were just bombarded with messages like: You guys are great to release something new, but maybe somehow support SLP from such a steady depreciation.
Ron is now trading at around $3. In our previous SLPUSDT ideas, tradingview users wrote in the comments that they are trying to farm Ron while SLP is in drawdown.
2. SLP issuance has not been limited yet, there is no upper limit further, and as of 10/02/222 they are just over 4bn in circulation.
3. The trading volumes are now 8-10 times higher than they were 2-3 weeks ago, and most likely these volumes are doing up by bots set up for pamp. For the reason that growth doesn't allow deep corrections and opportunity to buy cheaper, hinting: buy now, because later it will be more expensive. But it's a very dangerous thing, especially with margin leverage, because we've all seen how the SLPUSD price can and can fall.
4. The first strong mirror level is around $0.06. That's probably where the first real fight between buyers and sellers will start, as they'll were bogged in SLP a lot of time ago and want to sell it off at zero or at least at a minimal loss.
5. We are also SLP investors, we wrote earlier about our not so successful investment, but it was for a small part of the trading depot, and we know how to wait for the pumping)
Frankly speaking, we do not want to sell our SLP earlier than $0.34-0.35, but will be the price there, we will know soon.
- If the SLPUSDT price will end up in the range of $0.06-0.09 its market capitalization will be in the top 200, it is not serious, don't you agree.
- If it will succeed to rise up to $0.34-0.35, token capitalization will be in the top 100.
- If this growth passes the mark of +1400% from the bottom and stops at $1.20, the capitalization will be in the top 50 and will find +/- in the vicinity of the main token AXS capitalization.
- The maximum that fantasy now allows you to think about is around $2 per SLP , and the capitalization will probably not last long there, but still be able to pop into the top 20.
Please write in the comments your thoughts on what is connected with the growth of SLP price and where its top bar is possible.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
Note
We are told that the growth is due to an update in which the daily SLP mining was reduced by about 60% and with the further addition of additional token burning mechanics.
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