Axie Infinity (AXS) Coin Price Forecast in 2022

07/19/2022By: C, Fiona

Games that allow players to earn rewards by playing are becoming increasingly popular in the cryptocurrency community. One of the prominent platforms is Axie. Players can collect and mint NFTs, or digital pets known as Axies, in the game’s online version.

The platform’s native token, AXS, is required for participation in the game. Some Axie token investors are concerned about the coin’s potential price movement after a wild ride. Predictions for the AXS coin price in the years 2022, even 2025 have been produced by our team of analysts. The coin’s use cases and the factors that influence its price were also discussed in our report.

History of the Axie Infinity (AXS) Coin Price

Many NFT video games, such as Axie Infinity, can be found on the blockchain. Axie Infinity, on the other hand, was regarded to be a breeze to play by gamers. This game’s surge to popularity was due to the game’s simplicity and prizes.

When it came to trading volume, Axie Infinity was the most popular NFT project by a wide margin. AXS was directly impacted by the spike in traffic. The Axie Infinity token had its ICO (initial coin offering) in the beginning of April 2021, closing the first day at around $7.70.

At the conclusion of the month, AXS fell to $6.50 before rebounding to approximately $11 in a short period of time. AXS kept making lower lows and eventually reached $3 by the end of May 2021, ending the enthusiasm. The Axie Infinity coin lost more than half of its value in the first month after its ICO. Strong hands would have been rattled, but diamond hands only had to wait a little time for an enormous spike.

ATH and AXS Price Pump

As soon as AXS coin hit the $3 threshold, enormous purchase volume entered the market, and the currency quickly rose to its current price. In November 2021, AXS surged more over 5,200 percent to a record high of $165.

Before plummeting just a few days later, AXS had hit an all-time high. In the wake of Bitcoin‘s demise, Axie Infinity was one of the many cryptocurrencies whose value was decimated. AXS fell even more than the majority of prominent altcoins, which collectively lost nearly 70% of their value.

After a few false breakouts in the downtrend, AXS failed to retrace its losses. In spite of strong support at $38, the price continued to fall. AXS continued to make lower lows after breaking through that level, eventually rising slightly over its ICO price level and finding important support at $12. After bouncing off support a few days later, the Axie Infinity coin shot up to $18.

As AXS began to decline the following day, it continued to do so until it eventually retested key support levels once more. AXS’s value has plummeted by 93% since it hit its all-time high.

 

 

Axie Infinity (AXS) Coin Price Forecast in 2022

In November 2021, AXS reached an all-time high of $165, closely coinciding with Bitcoin’s peaking structure. Bitcoin’s rise and fall were closely monitored by AXS, thus it too followed suit. The Axie price quickly dropped to lower lows, developing a downtrend with brief but unsustainable upswings.

After a large rally, the price fell and broke through the $41 level of firm support. Around $12 was the next price target, which served as both a significant support level and an ICO pricing area. Since the middle of June 2022, the price has been stable.

There are hints that AXS is holding at a crucial support level, which could lead to a shift in the market’s sentiment. AXS has lost 92% of its value since establishing its all-time high. The market has showed us that Bitcoin and Ethereum, two main cryptocurrencies, lost 94% of their value before seeing a huge rally. So AXS is in the same area as that. AXS hasn’t seen a short-term rally since its catastrophic meltdown, and Bitcoin hasn’t either. A short-term rise in the price of Bitcoin is expected by the market, hence AXS should rise in value along with it.

In terms of fundamentals, the NFT sales volume of Axie Infinity increased by more than 200% in a single week in July 2022. Axie’s co-founder revealed that the project is mending as a result of its transformation from play-to-earn to play and earn, which prompted the catalyst event. NFT land staking and the Ronin bridge being backed up also contributed to the rise in volume.

 

This suggests that an AXS spike is imminent based on technical and fundamental analysis. So, how much higher can the price go if that is the case?

If we utilize Fibonacci retracement levels from the ATH to the present low and consider that AXS holds important support, we could see the coin spike to the 0.702 level. As a result, we’re expecting the AXS coin to be worth $120 by the year 2022.

According to historical data, the crypto market normally recovers to a level around $0.702, but it has been known to rise as high as $0.786 following an extreme fall. AXS would cost around $130 in this situation. Due to a rally of almost 5000% in 2021, we don’t expect AXS to reach a new all-time high. The prospects of a repeat of this rise are quite low. As many investors believe we are in a bear market, Bitcoin isn’t positioned to reach a new high. In addition, we are aware that Axie Infinity has kept tabs on changes in the value of Bitcoin.

 

Axie Infinity (AXS) Coin Price Forecast in 2025-2030

 

The price movement of AXS has shown us that it is capable of going lower than the current price of $36. AXS is now trading for $12 per token. As of 2025. The crypto market, in our opinion, is headed for a full-fledged bear market. As a result, we expect AXS to go below its current support level of $36 and begin a downward trend from there.

When that support is breached, the next important support level at $12 will be tested. When it comes to crypto winter, the market has shown that it can be severe and dish out a great deal of misery. AXS’s bottom is expected to be in the $4 range, which is where the coin’s price dropped after its ICO.

AXS should be oversold when it reaches $4. Sellers would have used up all of their leverage, and AXS would be worth 97 percent less. The only way to go up at that moment should be up. However, the market has shown us that AXS is capable of achieving big rallies.

How high could AXS go by 2030 if it has a strong rally after hitting the bottom? Altcoins that went through many major bull runs typically outperform the prior high by around 120 percent. Similarly, our Axie Infinity price forecast for 2030 would be roughly $360 if AXS were to follow suit.

 

Where Does the Value of Axie Infinity Come From?

Despite Axie Infinity’s dominance, macroeconomic factors also have an impact on the AXS price.

Utility

An important part of Axie Infinity’s system is the AXS currency. Playing, earning, and transacting are all dependent on it. As more people play the Axie Infinity game or utilize the coin, the demand for AXS rises. In order for a coin’s value to rise, the more people want it.

Traders’ Mood

AXS’s price movement has shown us that it has a strong correlation with Bitcoin. Axie Infinity’s price rose in tandem with Bitcoin’s in 2021. As with the Bitcoin meltdown, AXS also fell, but it did so far more severely. AXS’s price is heavily influenced by the mood of the market. AXS could suffer the same fate as Bitcoin if there is a surge in demand. In a bear market, the same holds true.