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Smooth Love Potion Fundamental Analysis
Smooth Love Potion (SLP) — previously Small Love Potion — is a second token issued by Axie Infinity blockchain game, the first being Axie Infinity Shards (AXS). The game gained a lot of popularity in the summer of 2021.
Axie Infinity features Pokemon-like creature characters, Axies, who can be bought and sold (since every one of them is an NFT), developed using various combinations of body parts, or bred. Breeding and adding new body parts can produce some unique combinations, which drives Axie NFTs’ prices up, with some of them selling for hundreds of thousands of dollars. To progress their game, players can participate in Axie fights or send their Axies on adventures.
As opposed to AXS, which serves as a governance token, SLP is useful to players not only outside the game world — although it is, as it can be traded on the open market like any other crypto — but also in-game. SLP tokens represent the experience points earned in battles and quests and must be spent to allow players’ Axies to breed. This classifies the Axie Infinity game as “earn-to-play”, which is in line with the game creators’ goals — they are hoping to change the gaming landscape and make earning money fun.
Smooth Love Potion Live Price Chart
Since the beginning of 2021 and through the first spring months, SLP followed the market, rising from $0.02 to $0.1 by March. In April, going against the trend, it dipped, hovering just above $0.03. This was followed by a surge up to its all-time high, which is $0.4191, on May 1. SLP’s price went through a sharp decline in the second half of May, falling to ~$0.08. After a few more upticks in price, it stabilized in the $0.15–$0.50 range, where it stayed throughout June. At the beginning of July, SLP’s price soared again, bouncing up to ~$0.4 several times. As it’s formed a double and then even triple peak pattern, it’s obvious that there is a strong resistance line on this level. However, it doesn’t yet look like SLP’s luck is running out, so it’s worth watching whether this coin can break through resistance and go even higher.
Smooth Love Potion Technical Analysis
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