In the last week, all investors are very happy with the growth of the price of SLP cryptocurrency.
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 just over 6 months and many people have already buried this unsuccessful investment in their minds.
So, without emotions, let’s try to determine the reason for the current growth and where to say goodbye to your SLP.
SLP cryptocurrency – causes of growth
We don’t know what caused SLP cryptocurrency to grow and we don’t know where it will end. So, everything that will be written below is a mixture of facts and our assumptions:
- 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 for releasing something new, but maybe somehow support SLP from such a steady depreciation.
Now Ron is trading at around $3. In our previous SLPUSDT ideas, tradingview users wrote in comments that they are trying to farm Ron while SLP cryptocurrency is in drawdown.
- SLP issuance has not been limited, there is no upper limit further, and as of 10.02.22 they are just over 4bn in circulation.
- the trading volumes are now 8-10 times higher than they were 2-3 weeks ago and most likely these volumes are being caught 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.
- 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 get bogged down in SLP and want to sell it off at zero or at least at a minimal loss.
- We are also SLP investors, we wrote earlier about our not so successful investment, but it was for a small part of the trading deposit and we know how to wait for the pumps)
Frankly speaking, we don’t want to sell our SLP before $0.34-0.35, but we will know soon if they will give such price.
SLP cryptocurrency – growth targets
- If SLP cryptocurrency finishes in range of $0.06-0.09, its capitalization will hit only the top 200, it’s not serious.
- If we manage to increase it up to $0.34-0.35, token capitalization will be in the top 100.
- If this growth passes the mark of +14000% 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 for long, but still be able to skid into the top 20.