Spell Price Prediction 2023, 2025 and 2030: Is SPELL A Good Investment?

What Is Spell Token?

To draw a clear picture of the Spell price prediction, we first need to learn about its network.

Spell token (SPELL) is one of the three tokens in the Abracadabra.money platform, a lending platform that enables users to deposit collateral so they can mint Magic Internet Money (MIM).

Abracadabra has three main tokens, including SPELL, sSPELL, and MIM. 

Spell token (SPELL) is the protocol's governance token which is also used to incentivise the users.

This article focuses on Spell token to let you know all about its price history and fundamental and financial analyses in the following sections.

Spell Price History

• Spell token started its journey on May 28, 2021, with an initial price of $0.001.
• From early October 2021, Spell’s price started to soar, and it recorded its first peak on Oct 12, 2021, reaching $0.02.
• Shortly after its first peak, the Spell token recorded its highest value (ATH) at $0.03 on Nov 3, 2021.
• After recording its highest price, Spell token experienced several ups and downs, and then its price started a steady downtrend, which has continued until now.
• Now, on Jan 29, 2023, each Spell token is traded at $0.000811.

To picture Spell token's price history and price changes, let’s take a closer look at its chart during the last 12 months, and then we’ll dig into its financial details.

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Spell Token Financial Analysis

To better grasp Spell token’s financial analysis, we’ll elaborate on its tokenomics, ROI, market cap, ATH and ATL below.

Spell Token Tokenomics

Today, on Jan 29, 2023, SPELL’s live price is about $0.000811, with a 24-hour trading volume of $10,296,288, a circulating supply of 111,301,761,534 SPELL coins, a total supply of 196,008,739,620 and a maximum of 210,000,000,000.

Cryptologist financial data indicates that SPELL is currently held in more than 50,000 wallets, processing up to 1,082,117 transactions. Also, SPELL’s current liquidity score is about 24%, making the token difficult to sell in bear markets.

The spell token is distributed as follows.

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ROI

The term ROI stands for Return on Investment and describes the percentage of growth or loss of a crypto investment during different timespans.

• SPELL’s yearly ROI is -92%, meaning that if you invested $100 in SPELL, you would have almost nothing left!
• Looking at SPELL’s monthly and weekly ROI, we are witnessing that the token has recovered itself recently, and its value has soared by about 36% and 4%, respectively.
• Considering SPELL’s ROI in the last two weeks, we can see that the token has increased by about 26%.

Market Cap

At the time of writing this SPELL price prediction, on Jan 29, 2023, SPELL’s live market cap is $90,050,912, and its current market cap ranking is #301.

ATL and ATH

Speaking about ATL, we refer to the time the token dropped to its lowest value. On the other side, ATH is the highest value at which a crypto asset has ever been traded.

• Spell token recorded its ATL on Aug 05, 2021, when its value dropped to $0.00029.
• Spell token saw its ATH price on Nov 02, 2021, at $0.035.
• At the time of writing this article, each Spell token is worth about $0.0007, which is 136% higher than its ATL and 98% lower than its ATH.

So far, we’ve covered what the SPELL is and how it is doing financially. Another factor we need to know about this token is its fundamental analysis, which we’ll go through below.

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Spell Token Fundamental Analysis

Spell token serves as a governance and incentive token in the Abracadabra ecosystem, showing crypto staking as one of its main functions. Similar to most of the Ethereum-based tokens out there, SPELL tokens can be staked to earn passive income.

Before diving into the Spell token price prediction, we need to learn about its fundamentals. So, let’s get the low down on Spell token’s team members, popularity and investors.

Team Members

Spell token is featured by Abracadabra.money platform, launched in May 2021 and by October 2021 had surpassed a $1.14 billion market capitalisation. The platform is run by a co-founder known as "Squirrel", along with Daniele Sesta. The other team members are unknown.

Popularity

Projects with solid communities have more chances to explode and stay on top! Speaking about Spell token’s popularity, we can see that the token’s Twitter and Reddit accounts’ growth rates have dropped by 3% and 18%, respectively, during the last six months.

Spell Price Prediction 2023 - 2030 At A Glance

To consider Spell price prediction all in one place, we’ve summarised the Spell token’s minimum, average and maximum prices for the coming years in the following table. The details and growth percentages for each year are provided below the table.

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Spell Price Prediction 2023 

Spell price prediction sees that the SPELL’s minimum price can see a 10% drop in its value and fall to $0.00072. However, it is estimated that its average and maximum prices can rise by about 97% and 143%, respectively.

Spell Price Prediction 2024

Spell price prediction reveals that each SPELL’s average price can increase by about 143%. Its minimum and maximum prices have the potential to grow by about 116% and 155%, respectively, during 2024.

Spell Price Prediction 2025

According to Spell price prediction 2025, there is a possibility that Spell token will break through the $0.00238, reaching an average growth rate of 237%.

It is estimated that SPELL’s minimum and maximum values can cross a price level of $0.00206 and $0.00256 in 2025, growing by about 183% and 264%, respectively.

Spell Price Prediction 2030

Market analysts and experts predict that Spell tokens can cross the $0.00729 average price, rising by about 940%. Spell price prediction 2030 also sees that SPELL’s minimum and maximum prices can grow by nearly 872% and 956%, amounting to $0.00687 and $0.00739, respectively.

Is Spell Token A Good Investment?

Spell is an Ethereum-based token that governs the Abracadabra lending platform. All things considered, the Spell token comes with some risks, as follows.

• The project’s team is anonymous, and nobody really knows who is behind SPELL.
• According to my research, the project's investors are also unknown, and it’s not clear how much funds the Spell token project has raised so far.
• Spell’s ROI is dreadfully down, and with the liquidity score of 27%, it's really hard to survive the bear market.

Summary

By and large, we don’t recommend the Spell token as a short-term investment, and you have to bear in mind that you should not rely only on the Spell price prediction.

One of the best ways to have a clear picture of your favourite coins is to use Cryptologist’s unique tools to track your crypto coins and make your own crypto portfolio.

However, bear in mind that the whole crypto sphere is volatile. Some coins are investments, while others are only bills, and you should never invest more than you can afford to lose.

FAQ

The following Q&As will help you better grasp Spell token and its future.

What Will Spell Token Be Worth In 2025?

According to the Spell token price prediction, the price of each Spell token can rise by about 237% on average, amounting to $0.273 in 2025.

Will Spell Token Reach A Dollar?

Definitely not! Although it’s predicted that Spell token has the potential to see a huge jump in the next coming years, it is unlikely that it will ever hit $1 due to its enormous total supply.

Is Spell A Stablecoin?

No, the Spell token is based on the ERC-20 standard and serves as a governance and incentive token within the Abracadabra ecosystem.