According to crypto analytics firm Santiment, the native token of the Ethereum-based gaming project is showing bullish signals after a downtrend.
Santiment thinks that the Smooth Love Potion (SLP), obtained by participating in Axie Infinity (AXS), may hit the bottom after dropping by 97% from ATH:
“$0.0088! It’s almost 44 times lower than the ATH level less than a year ago. This is extremely painful for SLP holders. There could possibly be a new low soon.”
SLP is at $0.01 at the time of writing, just above the all-time low of 0.009.
The firm states that despite this major correction, the SLP is giving a bullish signal.
“Last week we saw a strong increase in SLP activity for the chain. More addresses are interacting with SLP every day as the price continues to drop. We see an upward divergence.”
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