Axie Infinity Price Prediction: Will AXS Coin Reach $128 After Massive Milestone?

Axie Infinity (AXS) is on a roll and it looks like it has some more momentum to keep on going. The non-fungible token game has hit one milestone after another, and it seems to have just picked up steam. How high will AXS price hike up?

Axie Infinity Milestones

Axie Infinity has been leading the market of non-fungible token-powered games that work on the play-to-earn model. The game surpassed $1 billion in sales volume, hit one million daily active users, and became "the most valuable NFT collection ever," Crypto News reported.

At the time of writing, the market cap for AXS is at $3.16 billion according to Coin Gecko. A total of 55.26 million AXS coins are in circulation right now.

To play the game, interested players have to purchase three Axies, the game's pets.

Axie Infinity is based on a Pokemon-like universe that allows players to earn tokens through skilled gameplay and contributions to the ecosystem. AXS works on the Ethereum blockchain and allows the community developers to build the Axie Infinity Universe with customized tools and experiences.

In the game, players can battle, collect, raise, and build a land-based kingdom for their pets as well. Each Axie is a unique digital pet that also serves as a non-fungible token that can be bought or sold.

Players can earn through the game's local token, Axie Infinity Shared, or the other in-game token called Smooth Love Potion (SPL).

Axie is currently considered the most valubale NFT collection to date, with a whopping 45,840.4 percent increase from its all-time low price of $0.123718 back in November of 2020.

Currently, one AXS token is worth $59.01, a 33.9 percent increase in the last 24 hours. It hit its all-time high of $60.61 today, August 10.

Axie Infinity Price Prediction

With its swift rise to the top, the massive growth posed a few issues for the survey, failing to keep up with the sudden increase of players, according to Crypto News. The team was quick to resolve the issues, rolling out the development update that stated the problem was settled in a few days.

Despite the price of AXS taking a slight dip, the price correction served as a platform for a new increase in price. According to FX Street, the Axie Infinity Shared token price was recorded as one of the most dominant performances from the end of June to the end of July.

The 1,800 percent gain in a month showed that investors are strong in their belief in the alt-token and its play-to-earn model.

AXS has to perform consistently and target new rally highs. Investors holding on to the limited token supply can also be credited to the consistent price rally. It won't be long until it will be able to hit $128, delivering more than a 150 percent return from its current price.

Given the lack of historical data to draw conclusions from, as Axie Infinity is relatively young, these predictions are only on the basis of other systems of analysis. Keep in mind that cryptocurrencies are volatile in nature and so investors must do their due diligence to mitigate risks when investing in crypto.