Why is SPS Price Struggling ? Top Reason

Hello Community friends, Greetings from Hive account@mrdani12 to all my beautiful friends, Hopefully you guys are doing well, Today I am going to share about the Price of SPS which is the primary token of our Splinterlands Game , every week I Post about the price but time I am a bit late, Today we will see that why SPS price is struggle day by day, in this Overall Crypto market. I am wonder that why this token is draining day by day, If you see the chart of 7 days then you will see a proper decline in the price of SPS which is not a good sign for this token. SPS is the primary main token of Splinterlands, if you have not join the game yet then what you are waiting for go and start your journey from today.

Why the Price of SPS is Struggling?

SPS Price on Coin Gecko

Now here you can see that the price of SPS is struggling in this overall bearish market Situation, You can see that trading chart line is draining day by day, Now the current situation of SPS is very low, The price is almost hit 0.004$ which is very low according to the token, In previous 3 month the price almost drop from 0.1$ to 0.004 which is more then 50%. In the start of the year the price of SPS almost hit 0.1$ and from that time continuously draining badly. Why this happen let answer this question.

The First and the most important reason is selling SPS because most of the people got the reward and instantly sell the SPS token which drop the price of SPS, This is the main reason for every token if the seller become more than buyer then the price will drop.

The next reason of the price drop is the overall market tension when trader see that the market is crashing that directly they shift money to safer coin.,

SPS inflation is the another main reason because when the supply of a token increase then the price is down regularly that why the price of SPS is the dropping due to the large distribution of SPS token.

I am not a professional trader but know little about trading and still learning, The Utility of a token is very important if you have more supply of a thing but their is no demand then not one will buy that thing same for the SPS token, their are no new players joining and the utility to burn the SPS is still very limited.

The Above are some of the reason that why SPS is going down day by day, these are the reason team need to focus one, after that may be the price will feels better.

This is all about from today post see you in the next post. Take care of your self.