Yes, but what on earth is so compelling about a quasi pokémon clone that anyone is paying the price of 5-6 AAA games to play it as a game for fun? And who is buying all the SLPs ‘players’ farming this for $?
SLP's price is supported by demand to breed new Axies -- it is consumed and then a new Axie is created -- and so demand for new Axies props up the value of SLP. But additionally there is some speculative value to SLP based on expectations for what will happen with the game itself.
Novice traders looking at the SLP token price chart and thinking it has to mean-reverse (instead of looking at the marketcap chart as they should).