More price drop of SPS price is Expected?

Hello and Namaste Everyone

My journey with the splinterlands game started in 2020 during the time of lockdown and after one year they launched the governance token. I had no idea how is it going to work because I was just one year old in the game and at that time I had no understanding of the governance model. In 2021 the game launched its governance coin called SPS and because I was holding some in-game assets I was eligible for the airdrop. I was happy to get the airdrop and I got to know that this is going to be a long-term airdrop that will run for the entire year.

In Crypto World, everyone is always happy to receive airdrop and if it is shared for a long time then it's even better. I was happy that I was getting the airdrop but I thought that I would continue to accumulate because I was expecting more use cases and better value in the market. At that time I had no idea that SPS was going to drop its value by over 99% and now this is a true and bitter reality. You are ready to write that this token was almost one dollar at some point in time and now it's not even one cent so what should be the next strategy with this token? The game has already submitted its funding proposal and till now it has not reached its funding threshold. Many people have supported the game but more support is needed to bridge the gap required to start the funding to splinterlands.

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After a month today, I got the chance to look at the S P S price chart where you can see the trend is downward. I did not buy any bigger quantity of SPS in the market because of the fluctuation and now I am a little bit confused about my further strategy with SPS. I don't know if I need to buy it now or wait further to get an even better price because it looks difficult from the current price to see a significant rise. I'm not saying that it will not happen because it is crypto and anything can happen especially if the project can bring more value then the token value will appreciate.

The price has been falling continuously and this is not a good sign because it is happening as a lot of people are selling the coin even at this price which is too low. I don't think that this is the right price to sell tokens in the market but looks like Whales have got more SPS. Probably because of this, they are trying to book more profit which is resulting in a crash in the token price and despite being a governance token its value is too low. The current market is not good for the altcoin because we have been five mostly in Bitcoin and Ethereum so we cannot expect any recovery in SPS price in the next few months I believe.

I am not sure about the next action for sps which I am planning so I have paused the buying for now. I want to buy more SPS because in the last few months whatever I have bought is at a loss and I could have got more SPS if I bought now but because I used a good amount of liquidity I am not left with much liquidity. I hope this situation looks good in the market for SPS price where I can see more stability so I can think further about buying it more. What are your thoughts about SPS and do you think that it is going to look stable here or it will drop further?

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Thank you so much
Stay Safe

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