Great question. It has fallen from the all-time high from a few months ago to a new low last week. It's about a 5x move to hit all time high again from here. The reasons the token is surpressed is one key factor. People have been selling their SPS to buy either buy packs for the whale sale or peopele are selling to buy credits or DEC to buy packs at general. All Splinterlands assets are down right now. Once the packs are sold, people will stop selling their SPS.
Also, with the release and sell-out of Chaos Legion, a lot of press will hit and bring a ton of new players and new players will help push all assets up like we saw last summer and fall.
Sometime near the end of the month we should get more info about Modern and Wild leagues and SPS battle rewards if you have staked SPS. The demand will surely increase at that point as well.
If the entire crypto market stays down, then I don't expect it to hit an all-time high, but it is possible with the potenital press and increased demand.
If the market goes up, I think it would be a lot easier to hit that 5x number.
SPS has a lot in its favor right now. Plus on VeVe I'm so damn top heavy on collectable and comics that I had to take profits somewhere.