Back

Spell Token Price Prediction: Is Spell Token THE Meme Coin of 2022?

Cryptocurrencies offer numerous ways to earn and one of the most legit is lending markets, allowing to borrow and lend assets. Abracadabra is one such platform that also offers adjustment of the risk tolerance and SPELL coins farming. Despite the latest bearish tendencies analysts believe that the asset can go up in the long term. Read our SPELL token price prediction to make the best investment decisions.

spell-icon
Swap Tracker

Spell Token Fundamental Analysis

Project name
Spell Token
Stock Symbol
SPELL
Current Price
0.0009142
Current Supply
129615406017.69138

Spell token is a reward token for the Abracadabra.money — a lending platform for borrowing USD-pegged stablecoins called Magic Internet Money. It utilizes Kashi Lending Technology first introduced by SushiSwap to provide isolated lending markets that allow users to modify risk tolerance according to the collateral they use. Using any other assets as collateral the users can borrow MIM tokens. 

Abracadabra also offers yield farming options to its users, who can farm SPELL tokens by becoming liquidity providers, thus creating better liquidity for certain cryptocurrency pairs, for instance, ETH-SPELL and MIM-3CRV. Moreover, using borrowed MIM the users can open leveraged farming positions. 

Even though Abracadabra is not claimed to be a decentralized autonomous organization it is governed by the community through the Snapshot page. MIM tokens are minted with a 6/10 multi-signature contract composed of 10 partially pseudonymous users.  

Thanks to the innovation of isolated lending markets, users can provide liquidity for any asset, so Abracadabra can offer even the trading pairs ignored by the major exchanges. It also allows users to leverage their interest-bearing token positions by borrowing against their positions, borrowing against borrowed stablecoin, creating the loops, and increasing the leverage. As everything is done in one transaction the gas fees are only paid once. 

SPELL is a native token of the project that can be farmed by providing liquidity in one of the pools and also staked to accrue the share of the gas fees (interest, borrowing fees, liquidation fees) on the platform. The token has a total supply of 210 billion with 82 billion coins currently circulating.

Spell Token Live Price Chart

Since the launch SPELL token was in a continuous uptrend and reached an impressive market capitalization of nearly 2 million dollars. The asset was initially traded for $0.0014 and started to grow at the beginning of September 2021, when the whole crypto market was going bullish. 

On September 23, the token reached $0.0046 and sustained at the level of $0.0035 for the next week. At the beginning of October SPELL started to rise again and hit $0.02 on October 12. It was followed by the market correction and the token fell as low as $0.013 to rise again. The price was growing till November 3, when it hit the all-time high of $0.034. 

Bearish tendencies of the crypto market in November affected SPELL and it was pulled off to $0.007 on December 4. In 3 days the token recovered gaining about 40% of the price and on December 7 was traded for $0.02 and straight after was corrected, got stabilized around $0.014 in the middle of December. 

At the end of the year, the token started gaining value again and went back to a level of $0.02-0.025 in the first week of January. 

From the beginning of the year, SPELL was bearish and kept losing in price. In mid-January, it was at the level of $0.014 and the SPELL price chart continued to decline. In the last 7 days, the token lost almost 25% of its value and is still shrinking. 

Best fiat-to-crypto offers
usd
usd
btc
btc
Buy crypto Buy crypto

Spell Token Technical Analysis

Despite the fact that 100% accurate technical analysis for Spell Token cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated SPELL buy-and-sell rating for selected timeframe. The summary for SPELL/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.

Spell Token Price Prediction

Below we have collected the most reliable price projections for Spell Token (SPELL) from popular forecast platforms.

Spell Token Price Prediction for 2022

As of Spell Token price predictions for the rest of 2022, there are divergent opinions. TradingBeast expects an upturn towards $0.001218, and PricePrediction.net echoes with ~$0.002 by the year’s end. Other experts, for example, from WalletInvestor, are more pessimistic about Spell Token’s future price, citing numbers downwards of $0.000098 in December.
Potential ROI: 21% Buy

Spell Token Price Prediction for 2023

In their Spell Token price predictions for 2023, TradingBeast’s forecasts the coin’s price to go above $0.001061 by December. Forecasting Spell Token's future, PricePrediction.net expects further growth, too, saying the Spell Token price will reach ~$0.003 by that time. On the contrary, WalletInvestor keeps predicting Spell Token price decline, quoting prices around ~$0.000077 in 2023.
Potential ROI: 51% Buy

Spell Token Price Prediction for 2024

Spell Token price predictions for 2024 are still predominantly positive, with some analysts promising prices in the $0.001987–$0.004 range (TradingBeast, PricePrediction.net), while WalletInvestor takes a different view and cites the possibility of the price reaching $0.00002 in December 2024.
Potential ROI: 119% Buy

Spell Token Price Prediction for 2025

TradingBeast has only optimism in store for the 2025 Spell Token price prediction, valuing Spell Token at $0.0025 by the end of 2025. PricePrediction.net agrees with a positive forecast and predicts, in turn, $0.006 for the same period. On the other hand, WalletInvestor’s team is more pessimistic — their Spell Token price prediction for December of this year is just $0.000008.
Potential ROI: 210% Buy

Spell Token Price Prediction for 2030

Speaking of long-term Spell Token price predictions for 2030, experts present two polar opinions. TradingBeast expresses the view that Spell Token price won’t grow further and, opposedly, will decline to $0.000725. WalletInvestor’s price prediction for Spell Token echoes with the projection of a downtrend to $0.000011. Despite this, PricePrediction.net’s vision remains positive, promising growth up to $0.04.
Potential ROI: 1385% Buy
Share your thoughts on SPELL with our community!

Summary

As it can be clear from the analysis cited above, Spell Token (SPELL) projections are rather contradictory. There is no universal consensus either about positive or negative future SPELL price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Spell Token projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About SwapSpace

SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 950 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.

Trade Spell Token

This pair is not available for exchange