Axie Infinity lets you buy, battle and breed adorable monsters and profit with the Smooth Love Potion (SLP) token. Many people have turned to Axie Infinity as a new source of income, where the Smooth Love Potion (SLP) token is given as a reward to users playing the game, and they can spend it on breeding new creatures. However, following its impressive success, the game has been failing since July 2021. As a result, the SLP token has been on a bearish trend since then, having lost 97% of its value since the all-time high in July 2021. Can the token strengthen its position and grow in value with the release of the new Axie Infinity update? Let's try to forecast the token's future in our SLP price prediction article.

What is Smooth Love Potion (SLP)?

Inspired by the success of Pokémon, Axie Infinity launched its own game that allowed players to own their items and make real profit. As part of the game, players collect creatures called Axies. These are non-fungible tokens that users can battle, breed and trade.

That's where the Smooth Love Potion (SLP) comes into play. It's an ERC-20 token that players can earn by completing daily quests and battles with Axies. Players can use the token for breeding new Axies. Depending on how many Axies you breed, the cost of tokens starts at 100 SLP. There is a limit to the number of times Axies can be bred. Axies can only breed up to seven times in an effort to stop inflation.

Smooth Love Potion (SLP) history

Before we proceed to the discussion of the price prediction of SLP, let's look back at its history. Smooth Love Potion (SLP) was launched at the beginning of January 2020. The token's price broke past $0.10 on 15 March 2021, the day when Axie Infinity tweeted about new projects it was working on. It included a new battle system and a marketplace upgrade.

SLP's price dropped slightly afterwards. The token's value fell to $0.03 on 24 April 2021. However, SLP's price reached its all-time high value of $0.41 on 1 May 2021. The token's price started to grow right after Ronin's update, as part of which users were allowed to migrate their Axies to the Ethereum sidenet. The update allowed players to use the network for breeding, token claiming, and running transactions in the marketplace. Still, the token could not maintain its price and fell to $0.13 on 31 May 2021. The SLP value stayed roughly at the same level next month.

July 2021 was the most active month for Axie Infinity. The Smooth Love Potion (SLP) token's price came close to its all-time high on 13 July 2021, reaching $0.40. It made the platform more popular among users. As a result, Axie Infinity's daily users and transactions almost tripled from 1 to 14 July. On 14 July 2021, the user base reached 24,619 daily players, and the number of transactions reached 37,284.

Following its success, the SLP token started to lose its value. In September 2021, the token's price reached the $0.10 mark. In January 2022, the token's price fell even further to $0.01. Such a whopping price drop can be easily explained by Axie Infinity starting to lose its target audience. As Covid-19 hit, many users lost their jobs and had to stay at home and look for new money-making opportunities. Many turned to the game as a source of income. However, following a few changes in the game's mechanics, the rewards started to fall, which resulted in the token's price drop.

The situation started to look hopeful in February 2022, following Axie Infinity's major update announcement. The improvement included the interface update, better storylines, and game mechanics. Will further updates bring more investors in? Let's try to find an answer to this question in our Smooth Love Potion crypto price prediction.

Smooth Love Potion (SLP) Price Analysis

When writing this SLP price prediction article on 25 April 2023, the token's price was $0.002592, with a 24-hour trading volume of $11,068,033. Smooth Love Potion was up 0.06% in the last 24 hours, with a market cap of $109,418,218. The token has a circulating supply of 42,216,627,700 SLP coins, and its total supply is 42,216,627,700 SLP.

SLP Price History

SLP was launched at the beginning of January 2020. Initially, the token's value reached $0.03 on UniSwap. Smooth Love Potion was one of the first tokens of its kind, spreading the idea that one could make real revenue from playing games. Despite the excitement from SLP's founders, the market was not ready for it, which resulted in a heavy price drop below $0.01 on 1 February 2020.

Following the price drop, the token saw its first spike later that month. The SLP token climbed from $0.01 to $0.016 on 19 February 2020, following the release of the Season 1 of the PVP (player-versus-player) arena. Throughout the season, the players battle each other to level up their rankings and earn more rewards.

In March 2020, SLP's price continued to drop gradually and fell below the $0.01 level. On 20 June 2020, the heavy drop stopped when the token price stopped at $0.003. A few weeks later, the token saw its first significant price spike. SLP's price value increased from $0.003 on 6 July 2020 to $0.19 on 8 July 2020, having broken the $0.10 barrier for the first time since its launch. The breakout wasn't left unnoticed; Axie Infinity commented on the event in a blog post, saying:

The increased SLP price strengthened our narrative of play to earn and brought many new eyes to our ecosystem. We were most excited to see that although many of the new community members came to speculate, they were drawn in by the game and community and have stuck around.

The price continued to grow gradually until the end of the Season 7 of the PVP arena. On 12 July 2020, the day it finished, the price dropped to $0.02.

In early August 2020, Axie Infinity applied some changes to the battle system, which resulted in the new rally of the SLP token price. The token's price reached the $0.07 value on 12 August 2020, followed by a new price drop in late August. On 1 September 2020, when Season 10 went live, SLP reached $0.07 again. This time, the players could start earning DGX, the value of which is tied to the price of gold.

In the months that followed, the SLP token saw similar spikes but has been in a bearish trend since the end of July 2021.

The developers of Axie Infinity took steps to address the sudden drop in the value of SLP. In September 2021, they made changes to the breeding fee of Axies. They decreased AXS's cost from two to one and increased the SLP cost on a sliding scale. To breed one Axie, the cost of SLP went from 600 to 6,300 SLPs for six Axies.

On 12 August 2022, the developers announced the beginning of the third phase of Axie Infinity's development. As part of this shift, SLP will move from Axie Infinity Classic (V2) to Axie Infinity Origin (V3).

In the past 24 hours, the value of the SLP coin has decreased by -0.11%. Comparing the current market cap of SLP with yesterday's, the market cap has also declined.

Smooth Love Potion is facing challenges in gaining traction among other cryptocurrencies. It has experienced a decrease of almost -11.27% in the last seven days.

Over the last month, the price of SLP has dropped by -16.313%, resulting in an average loss of $0.00050408 from its current value. This dip presents an opportunity for investors looking to buy in quickly.

Over the past 90 days, the price of SLP has fluctuated between a minimum average price of $0.002 and a maximum average price of $0.002, with a price change of around 21.11%.

In the last four months, Smooth Love Potion has shown an uptrend. This indicates that similar market parts were quite popular during that period. Recent data shows that the trading volume of SLP has increased in the last 4 months, which plays a vital role in its price. The coin is up by 3.48%, with a maximum average price of around $0.003 and a minimum average price of around $0.003 in the last 4 months.

SLP Technical Analysis

As of 24 April 2023 at 23:22, the overall market sentiment for Smooth Love Potion (SLP) was bearish, with two technical analysis indicators indicating a bullish signal and 29 indicating a bearish signal.

SLP was trading below the 200-day simple moving average (SMA), which has been signalling a SELL since 20 April 2023. SLP's RSI value was at 41.05, indicating that the SLP market is in a neutral position.

SLP price prediction for 2023

The current market situation may cause the performance of the SLP coin to be sluggish. Our SLP price prediction suggests it could reach a peak price of $0.0094 by 2023. However, the average price of an SLP coin is expected to be around $0.0082. In the event of a bearish trend, the minimum price of an SLP token could drop to as low as $0.0048.

Smooth Love Potion (SLP) price prediction for 2023, 2025 and 2030

The majority of experts agree this bear market will last for at least the first half of 2022 before we see some minor trend reversals. How high can SLP's price grow in 2022 and beyond? Let's see several Smooth Love Position (SLP) price predictions for 2022, 2023, 2025 and 2030 by some leading cryptocurrency platforms.

Trading Beasts Smooth Love Potion Price Prediction for 2023, 2025, 2030 and 2040

TradingBeasts provides accurate forecasts for many cryptocurrencies, including Smooth Love Potion price prediction. In 2023, SLP's price is predicted to vary between $0.0190013 and $0.0292370. TradingBeasts anticipate the Smooth Love Potion price to reach $0.0355492 by December 2025.

WalletInvestor Smooth Love Potion Price Prediction for 2023, 2025, 2030 and 2040

According to WalletInvestor, their Smooth Love Potion price prediction for 2023 is bearish, with an estimated average price of $0.000513 by the end of the year. The website also forecasts that the price could drop to $0.000318 by the end of 2024 before potentially increasing to $0.0009050 by the end of 2025.

CoinCodex Smooth Love Potion Price Prediction for 2022, 2025, 2030 and 2040

Based on CoinCodex's analysis, they expect the Smooth Love Potion (SLP) to experience a slight decrease in value, with a predicted drop of -0.98% and an estimated price of $0.002581 by 29 April 2023. However, their long-term SLP price prediction for 2026 is more optimistic, with a projected price of $0.107083. This indicates that while the short-term outlook may be bearish, there is potential for growth in the coming years.

Price Prediction's SLP Crypto Price Prediction for 2022, 2025, 2030 and 2040

Price Prediction estimated that the average price of Smooth Love Potion could be $0.003 in 2023. The service's Smooth Love Potion price prediction for 2025 is positive, with the token expected to rise to $0.006 and reach $0.042 by 2030.

Smooth Love Potion (SLP) Future Value Predictions in General

Generally speaking, SLP's price won't rise higher than $1 in one or five years. The token has a good use case, well-designed tokenomics and a solid team behind it. However, since its peak in July 2021, the token has been plagued by a bearish trend, which is not likely to change in the first half of 2022. This has given many SLP price predictions a pessimistic outlook on its future.

Always do your research before investing. Cryptocurrency markets are very volatile, making it difficult to make accurate predictions. The coin's value may change several times in a few hours. Research the market, consider the latest trends and news and explore expert opinions before making any investment decision.