DEC is going down and down but not going to be forever
For the past few days I have been observing DEC price in the market. It looks like the price of DEC is falling down and down and down. For those who are not sure what DEC is all about, it is a token used inside Splinterlands game. The token is the medium in which the benefits from Splinterlands are paid out. Recently the market purchases have also started paying out in DEC making DEC as one of the most used medium in the game.
I was wondering if that was the reason for the price to fall. Something like there is too much of supply and there is not enough demand. Another big reason would be because many big stake holders have been dumping their cards. That can also be one of the big reasons why DEC price can go down. I was thinking if the game owners should be doing something about this or just wait to create another FOMO in the game so that many people start investing back.
I have to admit by saying that this game expects huge investments from people. It is not that we invest in the game once and we are done for lifetime to get some passive returns. I guess none of the games are like that so far. I'm not sure if inflation is affecting but the portfolio value is dropping gradually making it hard to sustain in the game or get a decent ROI without any further investment.
Opportunity to buy
DEC is currently trading at 0.00167 Hive on Hive-Engine exchange. Do you think it is a good price to buy and hold them for the future. Even though we evidently see a huge fall in the price of DEC tokens and the cards in the game, there are many investors who still have a great faith on this game. They all consider this as a great opportunity to buy and accumulate some DEC.
I also used this as an opportunity to purchase some DEC from the market. I don't know why many people are dumping their portfolio in the market but I would like to stay with the group of people who are still optimistic. There have been debates here and there saying that sale of so many cards increased the circulation and in turn increasing the supply of DEC with less demand for it. I bought some DEC when the price was 0.00199 and now I have placed another buy order at 0.00160. I hope it gets filled and I would like to see what happens to the price in the future.
About the game
I personally feel that the game needs a mega update to create FOMO among the investors. That would bring some new investors and some hope to the existing investors. Splinterlands already announced that they are going to introuduce some new features in the game. When that happens the price of DEC might pump. This is the expectation from all the existing investors. The game team also said that people would need lots of DEC to own lands in the game and few other game perks. So using this good opportunity to get some DEC for cheap price and then make use of them when the new feature is released would be the best idea. What is your thought?
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