Hive token hit an all-time high of $2,87 in November 2021. The current price is around $0,40. If price returns to its previous high it would be a 5.5X gain.
Is possible for Hive to surpass its previous record?
Source: Coingecko
If money flows into altcoins by following the narrative of an altcoin season, there is chance that some of this money enters to hive blockchain, raising demand for the token. On the supply side, hive does not have a fixed supply like bitcoin, instead it uses a dynamic supply linked to HBD (Hive dollar) and other factors, according to my understanding. Basically, if demand of the token is higher than the supply, then price will increase and we make gains.
As I can see, in these days traders are pouring money into narratives like memecoins and artificial intelligence for short term gains. If the social media narrative gains traction in the future, maybe it will grab the attention of traders, but in this scenario, it could be just another pump, like it happened in November 2021.
Additionally, the price of the Hive token has not kept an upward trend but this may change when this blockchain matures and evolves with new features and Dapps or simply by getting a lot of new active users that purchase hive tokens.
In short, I see that there is a possibility to see another pump in the price this year if there is an altcoin season or at least the beginning of an upward trend. To say whether the price willl hit a new ATH or not is a bit more difficult to predict.
These are just my hypotheses. What do you think?