This SPS pump is proudly sponsored by the Rift Watchers collection
At the time of writing, SPS is already above 8 cents and steadily rising. My hunch is that we'll see SPS trading around 10 cents by the time the sale of the Rifts watchers collection kicks off.
I must say, I am somewhat pleased with the SPS pump, although I hoped for something better even though I wasn't really expectant. For what it's worth, my prediction for the Rift Watchers induced pump was somewhere around 7-8 cents but with two days of pumping left, I think we will surpass my target.
I am generally pragmatic with my SPS expectations and with the bear market in full swing, it is hard to see any mega pamp on the horizon. I also really doubt any sustainable pamp on the horizon, so in essence, SPS will dump immediately after the packs have all been sold out.
What you got in that bag?
There's a lot of excitement about the Rift Watchers collection because it seems there will be some impressive monsters in the collection. I believe that the reception of these monsters coupled with the market's perception will also play a role in determining the trading pattern of the SPS tokens.
So, look at it like this; each Rift watcher gem will require $5 worth of SPS token and 1 voucher that is currently worth around 86 cents but for simplicity's sake, let's call it $1. So we pay approximately $6 for each Rift Watcher gem and so we hope to get top-quality monsters from that collection.
We have seen some teasers of the monsters in the incoming Rift Watchers collection that were shared on the Splinterlands discord and while they look impressive, it is important to keep in mind that the stats are still subject to change. Here's the thing though, a monster being seemingly impressive doesn't necessarily translate to it being valuable because it is the market that determines the price.
This means that while a monster might be "excellent", if there is no demand for it, then it will still be cheap ad vice versa if the demand is high. At the end of the day, this will in turn have an effect on the price of SPS token since this is what will be used to buy the Rift Watchers pack in the first place.
Extended Pamp Period
Another thing to consider during this SPS pamp period is the fact that while the presale of the Rift Watchers collection kicks off in two days, packs won't be opened until the 22nd of September, which is a whole week in the future.
This means that we could potentially have one more week of SPS pump after the presale, potentially pushing the price of SPS tokens beyond 10 cents. This is under the assumption that the hype persists after the presale starts.
I expect Splinterlands whales to buy up a decent chunk of the presale round of packs. In fact, if it weren't for the voucher requirement, I reckon the presale round would last a couple of hours at best.
In any case, it will still be a push and shove situation in the initial hours of the presale, so we could see SPS token going up even further in that period. However, when we eventually start opening packs, the quality of monsters inside will determine if SPS continues to pump beyond that point.
A couple of unique and impressive monsters will go a long way in ensuring that Rift Watchers hype sustains the SPS pamp. However, I still predict that while we will get an extension of the pamp beyond the start of the presale, it will be a minor pamp as most people will be throwing in their hats early to get all the perks from participating in the presale.
The period leading up to when we start opening packs will most likely coincide with either a slow SPS pamp to 15 cents or a slow SPS dump to 7 cents. At the end of the day, the market will decide where things go and all we have to do is play with the numbers to ensure we end up in a better position than when we started.
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