Technical Analysis:
RSI(14) 28.4920 BEARISH (OVERSOLD)
Moving Averages = bearish side
Resistance 2: 0.02
Support 2: 0.009
Upcoming S20 & Economic Balancing Adjustments
Volume = no demand x a lot of supply = price tends to fall
The supply of SLP will inflate in future.
Let's not forget that Axie ain't the same like it was before.
Since axie price drops, more investors = more supply of SLP.
- SLP did that before from 150 SLP (adventure and daily quest) to 75, it's just the same it goes down.
We are more in the community now. We are minting slp way more than it is supposed to burn. Having good tokenomics and burning mechanism is the key. Hopefully this fusion is one of the key burning mechanism. 31 billion circulating slp, If no one is willing to burn their slp then slp pumping is not possible.
Curious for your thoughts on $SLP and Axie Infinity updates.
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