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

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What Is the Spell Token price prediction today

AT A GLANCE

  • In 2024, Spell Token price is expected to reach $0.00128447906589958, according to some experts
  • 2025 promises to be turbulent, with prices ranging from $0.0002867616686800837 to $0.0015358797814713694, with TradingBeast predicting a breakthrough leading to a price rise to $0.0015358797814713694
  • By 2030, SPELL price can hit $0.00128447906589958

Spell Token fundamental analysis

Project name
Spell Token
Stock symbol
SPELL
Current price
0.00114481200169303
Current supply
162293574379.752

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. 

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.

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Spell Token price prediction

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

Spell Token price predictions summary

Year
Average Price
Avg. Price / Pot. ROI
Potential ROI
2024
$0.00089833
-29%
-29%
2025
$0.00098557
-34%
-34%
2026
$0.00084248
-35%
-35%
2027
$0.00053892
-60%
-60%
2030
$0.00056147
-58%
-58%

Spell Token price prediction for 2024

As for Spell Token price predictions for 2024, there are divergent opinions. PricePrediction.net expects a downturn towards $0.0008586, and WalletInvestor echoes with ~$0.0003205 by the year’s end. Other experts, for example, from TradingBeast, are more enthusiastic about Spell Token’s future price, citing upwards of $0.001259 in December.
Potential ROI: -29% Sell

Spell Token price prediction for 2025

In their Spell Token price predictions for 2024, PricePrediction.net forecasts the coin’s price to go down to $0.0006869 by December. Forecasting Spell Token future, WalletInvestor expects further decrease of its price, too, saying the Spell Token price will reach ~$0.0004039 by that time. On the contrary, TradingBeast keeps predicting Spell Token price growth, quoting prices around ~$0.001191 in 2024.
Potential ROI: -34% Sell

Spell Token price prediction for 2026

Spell Token price predictions for 2024 are still predominantly negative, with some analysts promising prices in the $0.0003231–$0.0004007 range (WalletInvestor, PricePrediction.net), while TradingBeast takes a different view and cites the possibility of the price reaching $0.001523 in December 2024.
Potential ROI: -35% Sell

Spell Token price prediction for 2027

Both PricePrediction.net and WalletInvestor doubt that the Spell Token market will grow in 2024, predicting the price drop to $0.0005381 and $0.000336 by the end of the year respectively. Other Spell Token price forecasts support the idea: TradingBeast forecasts Spell Token to fall down to $0.0005037 by December 2024.
Potential ROI: -60% Sell

Spell Token price prediction for 2030

Most experts are expecting a bleak future for Spell Token: long-term Spell Token price predictions promise significant decline by 2030. WalletInvestor predicts the price to reach $0.0006351, while PricePrediction.net goes down for $0.0005266. TradingBeast also puts not so big hopes on Spell Token in the long term: its Spell Token prediction for 2030 is $0.0002862.
Potential ROI: -58% Sell

Author

June Katz
June Katz is a writer who is really interested in finance, trading, blockchain, and tech. As a SwapSpace author, she enjoys making content about crypto and other related topics.

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).
All you need for your research in one channel!
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.

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