Axie Infinity (AXS) dropped over 91% in 2022. CAPEX looks at Axie Infinity’s price predictions for 2023 and beyond.
Axie Infinity is an NFT Ethereum-based game that combines trading and battling features. Players need to acquire Axies NFTs to play the game, These NFTs are purchased using the game’s cryptocurrency called Axie Infinity Shards (AXS), which is also the game’s governance token. AXS can be used for voting on key decisions and deciding how funds in the community treasury are spent.
The concept of Axie Infinity is known as Play-to-Earn (P2E). It is a game that allows players to earn cryptocurrency and non-fungible tokens (NFTs) through gaming activity. In the game, players participate in turn-based battles and have control over their characters, land, resources, and other in-game items. It is an open digital universe where the players control the economy. The ownership of in-game assets and unique digital items is verified through NFTs, which act as proof of ownership. Players can then sell their Axies to other players or store them securely in cryptocurrency wallets such as Trust Wallet, Binance Chain Wallet, or Ronin Wallet, which is specially designed for Axie Infinity.
The goal of Axie Infinity is to create a cohesive ecosystem for an immersive gaming experience that is based on player-owned economies. This sets it apart from other metaverse-based games.
In 2021, the game saw significant success due to its rapid scaling on the Ronin chain, which was specifically designed for its governance token, AXS. Despite some selling rallies, AXS struggled to maintain its high level of NFT sales, user engagement, and its corresponding value.
But what can we expect from Axie Infinity in the future? What highs may AXS price hit in 2023? Will the Axie Infinity price surge or plunge in 5 years?
This article aims to address all the queries related to Axie Infinity price prediction for 2023 and beyond, fundamentals, and technical updates.
Summary of Axie Infinity Forecast & Price Predictions
- Axie Infinity price prediction today: the actual rally should face strong resistance at 12 and send the price back below 10 during the first quarter as per charts and experts.
- Axie Infinity price prediction 2023: while most experts forecast AXZ can reach 20 or even 45 during the year, others said crypto winter could extend into 2023 and push Axie Infinity price below 6.
- Axie Infinity price prediction 2025-2030: most analysts point out that crypto investors will shift focus from speculative trading to the development and adoption of blockchains and applications powered by tokens with utility and cash flows.
Axie Infinity Overview
In 2018, Vietnamese developer Sky Mavis created Axie Infinity, a game centered around breeding, raising, and battling creatures called Axies (NFTs).
According to ActivePlayer.io, the game had approximately 468,000 monthly players in December 2022.
While the number of players has been declining over the past months, it’s worth noting that Axie Infinity was one of the most popular crypto apps on the Ethereum blockchain in the summer of 2021.
Players can purchase Axie Infinity and virtual real estate through an in-game marketplace using non-fungible tokens (NFTs). Most of the transactions take place on Ronin, a sidechain that Sky Mavis specifically designed to have lower fees than the main Ethereum blockchain.
Axie Infinity Shards (AXS) are governance tokens for the Axie Universe that can be used for staking, governance, and payments. Players can earn rewards by staking their tokens, participating in the game, and casting key governance votes. In addition, players need to use Smooth Love Potion (SLP) tokens for breeding Axies. These tokens can be earned through gameplay and traded for money on a crypto exchange.
The token's performance in 2022 has been negative, but it has shown signs of stability in the $11.75-$9.72 support range. The bears currently have control over the short-term and long-term trends. To gain a better understanding of the token's future, it is essential to examine the project's development so far and its roadmap.
The supply of AXS is set at 270 million. As of January 2021, AXS was among the top 55 cryptocurrencies by market capitalization. The next few weeks will be important for determining the chances of a bullish recovery.
Related: How to Buy Axie Infinity
AXS's price has dropped by over 91% during the 2022 bear market.
At first, Axie Infinity started to gain popularity in the Philippines. Even now, 40% of its players are located in the Philippines. The message that made this game popular on social media was that people were supplementing their income by playing this blockchain game.
However, this news report may not have been entirely accurate since the author of the report was found to be the director of a consulting firm that represented play-to-earn games, including those by Sky Mavis investor Animoca Brands, in the Asia Pacific region, which raises questions about objectivity.
Additionally, there were reports of an unverified, overly positive press release that may have contributed to the promotion of AXS more than it deserved. Furthermore, the Ronin blockchain, which the Axie Infinity game is based on, fell victim to the largest crypto hack in history in April 2022, when hackers stole more than $600 million worth of crypto from the network.
It's important to note that since the AXS cryptocurrency operates on Ethereum (ETH), it is considered a token, not a coin. Therefore, terms such as 'AXS coin price prediction' are technically incorrect and should be referred to as 'AXS token price prediction'.
With 2023 already looking like another roller-coaster period for digital currencies, CAPEX looks at AXS’s price predictions from best-rated websites and experts.
Axie Infinity Forecast & Price Prediction 2023 and beyond
Since its November 2021 all-time high, AXS has been in a steady downtrend. In 2022, AXS followed the general bear market.
The lowest point was reached in December 2022, when the price of AXS dipped under $6, which was a 93% drop from its January price.
Most forecasters predict an upward trend in 2023, and the average AXS price forecast is around $10, which may represent a 24% price increase from its January level.
Axie Infinity Price Prediction 2023
Axie Infinity price prediction site Wallet investor suggests that AXS’s price will drop to an average price of $0.55 by the end of December 2023.
DigitalCoin is much more optimistic about its Axie Infinity forecast. It predicts that the price of AXS will be around $17.23 by the end of 2023.
The long-term forecast for Axie Infinity from Price Prediction shows that the price will rise to an average price of $13.02 by the end of 2023.
CryptoPredictions has set a price target for Axie Infinity at an average of $7.59 for December 2023.
According to Long Forecast, AXS can reach a maximum of $11.79 by the end of 2023. They predict that the Axie Infinity price will continue to fall after this small bull run at the beginning of the year.
The average consensus price for 2023 is $10.03 (a raise of around 24%), which makes Axie Infinity (AXS) one of the best cryptocurrencies to buy in 2023. Check also the top 5 cryptocurrencies to explode in 2023.
Axie Infinity Forecast 2023 – Buy now or wait for new lows?
Axie Infinity Shards (AXS) are governance tokens for the Axie Universe that can be used for staking, governance, and payments. Players can earn rewards by staking their tokens, participating in the game, and casting key governance votes. In addition, players need to use Smooth Love Potion (SLP) tokens to breed Axie’s. These tokens can be earned through gameplay and traded for money on an exchange.
As of January 2023, the current price of Axie Infinity is $8.08. AXS is ranked as the largest 55th cryptocurrency based on its market capitalization. The circulating supply of Axie Infinity is 101,105,780 AXS.
AXS is in a downtrend. The recent consolidation of Axie Infinity suggests that the bear market might be over, and a new uptrend could develop. Over the past weeks, the price of AXS has risen in the trading range. If the growth continues above the resistance level ($10), the coin has the potential to become a solid asset.
Your investments should be small, and you should not place crypto investments above other financial goals, such as saving for retirement or paying off high-interest debt.
Related: How to invest in cryptocurrency
Axie Infinity Price Prediction 2025
There are indications that the crypto market is entering a new era.
Undoubtedly, AXS's long-term price prediction could rise if technological advancements are made, and the currency attracts more attention.
According to the latest AXS price predictions, it could reach an average price of $15.89 or more by the end of 2025. PricePrediction forecasts that the average price in 2025 could be $25. On the other hand, WalletInvestor predicts that the AXS price may drop to $1.25 by the end of 2025.
However, price predictions do not always reflect long-term earning potential. It is important to analyze the potential financial consequences of this investment to determine if it is a wise financial decision.
Axie Infinity Price Prediction 2030
Are you expecting Axie Infinity to rise in value? The same applies to Axie Infinity price predictions as it does to weather forecasts. The further we go into the future, the harder it becomes to try to predict the price of Axie Infinity. The world of 2030 may be quite different from what we see now. What does 2030 hold for Axie Infinity?
Most forecasters don’t offer price predictions so far off into the future. However, using the information from the few expert forecasters that offer such information, they suggest that the price of Axie Infinity might rise in the future.
By 2030, PricePrediction forecasts that the price of AXS could reach around $176. According to a 2030 Axie Infinity prediction from DigitalCoin, the trading price of AXS could be $83. The average of these two AXS price predictions is $89.
Is It Possible to Forecast the Price of Axie Infinity?
Many price predictions for Axie Infinity are flawed because they lack the necessary analytical support. Investors will always be attracted to a high price point, especially one that is on an upward price trend. Someone holding a cryptocurrency priced at $0.01 could easily believe that it will rise to $10,000 just because it sounds good.
The problem is that predictions can be made without any evidence or analysis. However, three types of analysis have been used in the financial world for a long time to try and forecast prices and the evolution of markets.
- Technical Analysis
- Fundamental Analysis
- Sentimental Analysis
Axie Infinity Forecast using fundamentals
Investors in financial markets use fundamental analysis to study and evaluate the variables that impact an asset’s price.
You can assess the intrinsic value of a cryptocurrency to determine if it is undervalued or overvalued. This can be achieved by analyzing qualitative factors like the state of the economy and cryptocurrency market conditions, as well as the management and market capitalization of crypto companies.
Fundamental analysis can help traders determine the price of a cryptocurrency based on a wide range of information. This could be a great way to make long-term investment decisions.
How to conduct an Axie Infinity price prediction today using fundamentals? Fundamental analysis is when you examine the fundamentals of cryptocurrency projects, from their market capitalization to the utility and value of the native token.
Do not confuse fundamental analysis and technical analysis. Fundamental analyses of cryptos are more qualitative and less tangible than statistical trends like price charts or historical market data.
The fundamental analysis of cryptocurrency is like that of traditional financial markets with more traditional assets such as stocks. It is not as important to focus on a company’s historical financial performance, financial statements, or balance sheets.
The following parameters can be used to help investors predict trends in crypto markets:
- Market capitalisation
- Total and circulating supply
- Token utility and use cases
- Community size
- The team behind the crypto project
- The crypto's trading volume
- Crypto exchanges listings
- Partnerships with trusted institutions
- The latest news about the coin
- Government rules and regulations
It is important to remember that fundamental analysis can only give you an overview of cryptocurrency investments. You can better understand the project and the future changes in cryptocurrency prices by looking at all the information. To get a better picture, you can also refer to the company’s whitepaper.
You can also examine blockchain metrics which provide crucial information about a cryptocurrency's technology and processes.
Axie Infinity Forecast using technical analysis
Technical analysis uses historical price charts and market statistics to examine and anticipate price changes in the financial markets. It is founded on the concept that if a trader can recognize historical market trends, they may anticipate future price trajectories accurately.
Whereas fundamental analysis focuses on an asset's 'real value,' considering both external and intrinsic elements, technical analysis is only based on an asset's price charts. To anticipate future movements, all that is required is the recognition of patterns on a chart.
The ability to recognize price trend cues in a market is an important part of any trading strategy. All traders must devise a strategy for determining the optimal entry and exit points in a market, and using technical analysis tools is a popular technique for doing so.
Technical analysis software is now so widely utilized that many people believe it has established self-fulfilling trading rules: As more traders use the same indicators to find support and resistance levels, more buyers and sellers will congregate around the same price points, repeating the patterns.
In general, technical analysts look at the following broad types of indicators, formations, and theories:
- Price trends (trendlines, channels, Elliott Waves, Dow Theory)
- Chart patterns (double tops and bottoms, head and shoulders, triangles, wedges)
- Price action (pin bar, inside and outside bars, and different candlesticks chart patterns like Doji candle)
- Trend following indicators (moving averages, Ichimoku, Parabolic SAR, ZigZag, ADX)
- Volatility indicators (Bollinger bands, ATR)
- Oscillators (RSI, MACD, CCI, Stochastic)
- Support and resistance levels (Fibonacci retracements, pivot points)
In the short to medium term, we can observe a consolidation, while the chart shows a downtrend in the long term. The MACD Line is above MACD Signal Line, and RSI is above 55, but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
The on-balance volume (OBV) is declining, indicating that the volume on Up days is lower than the volume on Down days. Hence, the demand (buyers) is below the supply (sellers).
The nearest support zone is $6. The nearest resistance zone is $10, then $14, and $20.
The 2-month consolidation with bullish divergences suggests this might be an accumulation that could generate a new uptrend.
However, an exhaustion movement is still possible, a sell-off to new lows followed by a fast recovery.
Axie Infinity Price Prediction Using Market Sentiments
In finance, the term "sentiment" refers to a viewpoint or opinion about a market's condition. The sentiment of crypto market investors towards the asset is a description of their general emotions and attitudes. It reflects the collective psychology of all those involved in trading and developing cryptocurrency.
How investors feel about cryptocurrency can have a tangible impact on market cycles and the price. It can have serious implications if enough traders act on the ideas, thoughts, and feelings they share, regardless of whether they are based on real-world data. This is evident in how tweets by Elon Musk have impacted Bitcoin's price (a bullish sentiment).
For analyzing the sentiment of cryptocurrency markets, there are many statistics you can use. The following statistics provide vital information about the movement and trajectory of cryptocurrency assets: funding rates, sentiment indices, social media, community analysis, and whale monitoring.
The funding rates are the monthly payments that traders receive based on price differences between the spot price of currencies and tokens and the price difference between cryptocurrency perpetual contracts. Positive funding rates indicate a bullish market.
A sentiment index predicts whether investors will act fearfully or greedily. It can be affected by volatility, market momentum, and investor responses to surveys. A fearful market can be an opportunity to buy if it is managed correctly. Conversely, a greedy market means that it is a good moment to sell.
Another crucial aspect for assessing sentiment in crypto markets is the community’s activity on social media, especially Twitter and Telegram. Investors would look for an active social network with meaningful interaction across platforms.
Whale monitoring is the process of keeping an eye out for big crypto players. A cryptocurrency whale is an investor who holds large-value transactions on multiple blockchains is called. Whale watchers spot major market participants' trades and trade accordingly.
Axie Infinity Historical Prices
It is important to keep in mind that past performance is not necessarily indicative of future results when analyzing the AXS token and its historical performance. However, understanding the token's past movements can provide valuable context for interpreting or making price predictions.
When AXS was first made available on the open market in November 2020, it was valued at around $0.18. During the crypto boom of early 2021, the token peaked at $10.85 on April 28. After a dip during the summer, the token experienced an upward trend due to the record levels of Bitcoin (BTC) and growing interest in play-to-earn, Metaverse, and NFTs, reaching an all-time high of $160.36. However, this high was not sustained, and the token closed the year at $93.30.
2021 was a positive year for AXS, but the same could not be said for 2022. The token reached a peak of $97.78 on January 2022 but then dropped to a low of $42.11 due to the invasion of Ukraine by Russia. There was a brief recovery to $74.37 on March 25, but it dropped again due to the Ronin hack and market crashes, reaching a low of $11.92 on June 18.
The token experienced a further decline and, by the end of 2022, was at around $6.95. At that time, there were 99.6 million AXS in circulation out of a total supply of 270 million, giving the token a market capitalization of approximately $690 million, making it the 53rd largest crypto by that metric.
Axie Infinity Price Prediction - FAQs:
Is Axie Infinity worth buying in 2023?
It is uncertain at this time. The outcome will largely depend on the recovery of play-to-earn, NFTs, and the metaverse, as well as the overall performance of the market. Keep in mind that it's important to conduct thorough research before investing. Even well-established cryptocurrencies can be impacted by negative market trends, so investors should be prepared for potential losses and never invest more than they can afford to lose.
How high can Axie Infinity go in 2023?
Most cryptocurrency forecasters have made only slightly optimistic predictions for AXS’s price in 2023. One of the most optimistic forecasts is $17.23 by DigitalCoin.
Will Axie Infinity crash in 2023?
According to most experts and prediction websites, Axie Infinity (AXS) has a low chance of crashing in 2023. While most expert forecasters are optimistic about the future price of AXS, some are bearish.
Does Axie Infinity have a future?
According to most expert forecasters, Axie Infinity will have a slight upward trend over the next years. DigitalCoin predicts that AXS may rise to over $35 by 2026.
It's worth noting that price predictions are often inaccurate, and prices can fluctuate both positively and negatively.
When considering investments in a volatile cryptocurrency market, it's crucial to conduct your own research on a specific coin or token to determine if it aligns with your investment strategy. Whether AXS is a suitable investment for you will depend on factors such as your risk tolerance and the amount you plan to invest.
What will Axie Infinity be worth in 5 years?
Axie Infinity has a good chance to rise over the next five years if the NFT and blockchain games market rises again. According to PricePrediction, Axie Infinity (AXS) could be worth $84 by 2028.
What will Axie Infinity be worth in 2025?
According to the latest Axie Infinity price predictions, AXS could reach an average price of $15.89 or more by the end of 2025.
What will Axie Infinity be worth in 2030?
Most forecasters don’t offer price predictions so far off into the future. However, using the information from the few expert forecasters that offer such information, they suggest that the price of Axie Infinity (AXS) might rise in the future.
Considering the few forecasts for 2030, the average price for AXS could be $129 by 2030.