Oh, Splintershards (SPS), how low can you go?
At the moment, SPS, stands at $0.11.
It wasn't too long ago, in October 2021, that SPS was >$1.00.
Oh, how the sentiment of the value of SPS has changed from bullish to... well, not so bullish.
Also, I was wrong in a previous post, where I figured SPS may find a floor at ~$0.17.
Obviously, the price of SPS has broken that support, and has been free falling since.
BUT! Can SPS recover, and surpass it's all time high?!
In my previous post, I looked at LunarCrush to see if there was ANY momentum whatsoever for SPS to post a reversal.
Social engagement this past week continues to be moderately elevated at +38.2%, but now we're seeing that social volume is starting to pick up at +1.6%.
Not much, but it's a start.
However, when we zoom out to 6 months, social engagement gained a whooping 19,050.5%, and social volume has gained 15,018.2%.
Look at that huge spike at the end. That was on January 20th.
Not only that, consider this article posted by CoinMarketCap on the roadmap for SPS. Their main points are:
- SPS Validator Nodes
- Foundation Treasury
- Riftwatchers
- Land Expansion
You can read the article for more details on SPS's roadmap, but the main point is that for all the above I listed, that SPS needs to be staked or used to do anything with them.
This should bring immense demand to buy and HODL SPS.
So when you see an article, such as my own, discussing the factors that may be causing the price of SPS to fall right now, remember the roadmap!
I'm pretty bullish on the future of SPS, and while $0.11 could be a good entry point, it still hasn't found a floor.
I don't think that SPS will find a floor until Bitcoin finds a floor.
If we assume that Bitcoin may find a floor at $30k, and Bitcoin current sits at $36k, then that is a 16.67% difference.
If we shave off 16.67% from $0.11, which is ~$0.02, then we can assume that there may be a floor for SPS at $0.09.
It's not immediately obvious if we look at Poocoin.app, because we can't see a floor.
And it's still possible that SPS can continue to keep getting closer and closer to $0.00, so instead of trying to time the bottom, set some limit orders to capture prices you're comfortable with under $0.09, because I assure you that the future value of SPS is bright.