Spell Token (SPELL) Price Prediction 2026 to 2040: Can Spell Coin Make a Comeback?

Last Updated: November 3, 2026

Spell Token (SPELL), the governance token of the Abracadabra.money lending protocol, trades near $0.000085 as of November 3, 2026, according to CoinMarketCap, with a market cap of about $16.6 million (#754). CoinGecko shows a lower price of about $0.000076. SPELL trades close to its all-time low and is down about 66% in 2026.

In September and October 2026, a governance proposal to wind down Abracadabra and repay MIM stablecoin holders about four cents per dollar went to two Snapshot votes. The proposal states that SPELL “does not retain any accounting value” until MIM liabilities are fully served.

The two forecast models we track both put SPELL below today’s price at the end of 2026: CoinCodex at about $0.000072 and CoinLore’s base case at about $0.000053. Spell coin, as many people call it, launched in 2021 as part of Abracadabra.money, a DeFi platform that lets users borrow the MIM (Magic Internet Money) stablecoin against interest-bearing tokens.

After three exploits between 2024 and 2025, MIM lost its dollar peg in June 2026. The protocol’s total value locked has fallen from more than $6.4 billion in January 2022 to about $4.5 million, according to DefiLlama.

This update covers what Spell coin is, the current SPELL price, the 2026 wind-down proposal, the latest third-party forecasts for 2026 to 2040, and whether SPELL can make a comeback.

Key Takeaways

• SPELL trades about 99.9% below its all-time high of $0.075 from November 16, 2021, and close to its all-time low
• The token fell about 67% in 2025 and is down about 66% in 2026, with its sharpest monthly drop (about 42%) in June, when MIM lost its peg
• On September 29, 2026, a proposal to wind down Abracadabra offered MIM holders about $0.04 per MIM and assigned SPELL no accounting value until MIM liabilities are fully served
• A second vote closed on October 15 with about 396 million SPELL from two wallets; it cleared a lower threshold set by the proposal but missed the 3 billion SPELL quorum, leaving its approval disputed, according to TokenPost
• About 99.6% of the 196 billion SPELL total supply is already in circulation, according to CoinMarketCap
• CoinCodex’s December 2026 estimate is about 16% below today’s price and CoinLore’s 2026 base case about 38% below; for 2030, CoinCodex expects about $0.00002 and CoinLore about $0.00015, so the two models disagree on the long-term outlook

Spell Token (SPELL) Key Data (November 2026)

Sources: CoinMarketCap data and historical prices, read on November 3, 2026, with CoinGecko for comparison. CoinMarketCap lists no maximum supply. This article measures the 2026 change from the December 31, 2025 close. TVL data is from DefiLlama, read on November 3, 2026.

What Is Spell Coin (SPELL)?

Spell coin is the common name for Spell Token (SPELL), the governance token of Abracadabra.money. Abracadabra’s documentation describes the platform as an “Omnichain DeFi lending platform” that accepts interest-bearing tokens as collateral and lets users mint MIM, “a USD-Denominated stablecoin,” against them. Lending markets are called Cauldrons. SPELL holders stake their tokens to vote on proposals through Snapshot, the off-chain voting tool the protocol uses.

CoinMarketCap began tracking SPELL on August 17, 2021, and lists it on Ethereum, Arbitrum, Avalanche, Fantom and Solana. Abracadabra grew quickly in the 2021 DeFi boom: its total value locked peaked at more than $6.4 billion in January 2022, according to DefiLlama data cited by The Defiant. SPELL reached its all-time high of $0.075 on November 16, 2021.

Spell News: What Has Happened in 2026

Earlier exploits. Abracadabra lost about $6.5 million in January 2024 to a rounding bug in its Cauldron logic and about $13 million in March 2025 in an attack on GMX-linked vaults on Arbitrum, according to The Defiant. In October 2025, a third exploit hit deprecated Cauldron V4 contracts on Ethereum. The attacker minted 1.79 million MIM, and the team said it bought back all of the affected MIM.

Change of stewardship. A Snapshot vote that closed on June 4, 2026, transferred operational stewardship, treasury management and development to an entity called Anubis, according to The Defiant.

MIM loses its peg. MIM slipped to about $0.74 in mid-June 2026 and fell to about $0.49 later that month, more than 50% below its $1 peg, according to The Cryptonomist, citing CoinMarketCap data. Abracadabra raised interest rates across all Cauldrons, including deprecated ones, and paused Curve bribes and liquidity incentives, the report said. SPELL lost about 42% in June, its worst month of 2026.

The wind-down proposal. On September 29, 2026, a proposal to wind down Abracadabra opened for a vote. According to The Defiant, it said:

• MIM’s effective backing is below $0.04, and about $22 million of MIM is held outside protocol addresses, against roughly $21 million of bad debt
• collateral of about $1.2 million backs MIM debt, of which about $900,000 can be recovered now; about $300,000 sits in an immutable Arbitrum Cauldron
• collateral would be swapped into ether and distributed pro rata, with MIM holders receiving about $0.04 per MIM
• “Until this liability can be served fully, SPELL token does not retain any accounting value”
• the snapshot of MIM balances would be taken no earlier than October 15

The first vote drew just over 100 million SPELL against a quorum of 3 billion and failed to reach quorum, according to Protos. The Defiant also reported that LayerZero plans to retire its V1 relayer on December 15, which puts about $1 million of collateral in two Cauldrons at risk.

A disputed second vote. A revised proposal set a threshold of 30% of what it described as a SPELL supply of just over 1 billion, or roughly 300 million votes. According to Protos, the proposal said former team members hold the Snapshot space’s admin keys and cannot be reached, so the 3 billion quorum could not be changed.

The vote closed on October 15 with 396,163,281 SPELL in favor from two wallets, according to TokenPost:

• About 100 million SPELL from the proposal’s author
• About 296 million SPELL from a wallet labeled “Abracadabra.Money: MIM Treasury Wallet”

The tally did not meet the 3 billion SPELL quorum, and Snapshot displays the vote as rejected, according to Protos, while the proposal treats it as passed under its own threshold. TokenPost describes the approval as “disputed.”

Protos, in a report also carried by KuCoin News, said the proposal did not address outflows of almost $9 million in June and July. Abracadabra’s documentation showed no wind-down notice when we checked in late October.

What it means for SPELL. None of the reports describes any payout to SPELL holders. MIM traded about 97% below its peg in late September, according to CoinGecko data cited by The Defiant, and was still near $0.06 on November 3. SPELL rose about 18% in September and fell about 22% in October.

SPELL Price History

SPELL rose to its all-time high within three months of its CoinMarketCap listing, as Abracadabra’s deposits grew, and has fallen in most years since. It traded near $0.0015 at the end of January 2025, about double the 2024 close, before falling about 67% over 2025.

In 2026, SPELL briefly rallied to about $0.00032 on January 6, then fell in most months. It lost about 18% in February and slid to about $0.00015 by the end of May. June brought the steepest fall, about 42%, as MIM lost its peg.

SPELL rose about 6% in August and 18% in September, before the wind-down proposal, then fell about 22% in October to near its all-time low. CoinMarketCap now lists the all-time low as $0.0000751 from August 18, 2026.

Spell Token Price Prediction 2026 to 2040: Summary

How this table is built: every figure is a published forecast from the two models we track, CoinCodex (updated November 3, 2026, 07:28 UTC, at a price of $0.0000763) and CoinLore (updated November 3, 2026, 15:19 UTC, at a price of $0.0000765), not a target of our own.

CoinCodex figures are its average estimates for December of each year, as printed in its monthly table. Both models are built mainly from price history and do not model the wind-down proposal.

SPELL Price Prediction 2026

Both central estimates are below today’s price. CoinCodex expects about $0.000072 in December, about 16% below CoinMarketCap’s price, and rates sentiment as bearish, with 28 bearish and 3 bullish technical indicators and a 14-day RSI of about 32.

CoinLore’s base case of about $0.000053 would be a fall of about 38%, while its bull case of about $0.0003 would be about 3.5 times today’s price, close to the January high.

SPELL Price Prediction 2030

The models point in opposite directions. CoinCodex expects about $0.00002, about 77% below today’s price. CoinLore’s base case of about $0.00015 would be about 81% higher, and its bull case of about $0.0008 would be about 10 times today’s price.

All forecasts are third-party model estimates, not investment advice.

SPELL Price Prediction 2035 and 2040

Long-range forecasts for a token in SPELL’s position are especially uncertain. For December 2035, CoinCodex estimates about $0.0000037, while CoinLore’s base case for 2035 is about $0.00054.

For December 2040, CoinCodex projects about $0.00000086, close to zero, and CoinLore about $0.0013, with a bull case of $0.0037. Even CoinLore’s highest 2040 figure is about 5% of the 2021 all-time high.

Can Spell Token Predictions Forecast Its Price?

Not reliably. CoinCodex and CoinLore build their forecasts mainly from past prices and technical indicators, so the figures change as the price moves and are recalculated every day. They do not model events such as the wind-down proposal, MIM’s depeg or exploits.

The two models also disagree: for 2030, CoinCodex’s estimate is about 77% below today’s price, while CoinLore’s base case is about 81% higher. Read them as rough scenarios, not as a forecast of where SPELL will trade. Our crypto price prediction tracker shows how past forecasts compared with actual prices.

What Drives the SPELL Price?

• The wind-down outcome: whether the disputed vote is carried out, and how, is the main factor for SPELL; the proposal gives SPELL no accounting value until MIM holders are repaid in full.
• MIM and protocol solvency: with about $22 million of MIM outstanding against about $1.2 million of collateral, according to the proposal, the protocol has little room to generate value for SPELL.
• Security: three exploits since 2024 have weighed on confidence in Abracadabra’s contracts.
• Exchange listings: SPELL still trades on major exchanges; any change to those listings could affect liquidity.
• The wider market: Bitcoin was down about 13% in 2026 on November 3, and small DeFi tokens tend to fall further in weak markets. Our Bitcoin price prediction covers the market leader.

Can Spell Token Make a Comeback?

A short-term price bounce is possible: SPELL rose about 18% in September and 22% in a single day in July 2026. A return to relevance is a different question. Abracadabra’s deposits are about 0.07% of their 2022 peak, MIM trades far below its peg, and the latest governance proposal would wind the protocol down.

For SPELL to make a lasting comeback, the protocol would need to resolve MIM’s bad debt, restore trust in its contracts and give SPELL a role again. We found no public plan that does this.

Market caps assume today’s circulating supply of about 195.2 billion SPELL and CoinMarketCap’s price. The highest figure in either model through 2040 is CoinLore’s 2040 bull case of $0.0037, which is below $0.01.

Key Risks of SPELL

• Wind-down: a governance proposal would close the protocol and gives SPELL no accounting value until MIM liabilities are met
• Governance dispute: the second vote cleared only a threshold the proposal set itself and missed the 3 billion SPELL quorum, according to TokenPost
• Bad debt: about $21 million, according to the proposal
• Security history: exploits in January 2024, March 2025 and October 2025
• Deep drawdown: about 99.9% below the 2021 high and close to its all-time low
• Limited communication: Abracadabra’s X account had not posted since July 6, according to The Defiant’s September 30 report

Where to Buy SPELL

CoinMarketCap has listed 53 SPELL markets. The most active include Binance (SPELL/USDT and SPELL/TRY), Coinbase Exchange (SPELL/USD), Gate (SPELL/USDT), BtcTurk (SPELL/TRY) and SushiSwap on Ethereum (SPELL/WETH). Availability depends on your country.

If you use a decentralized exchange, check the SPELL contract address against CoinMarketCap (0x090185f2135308bad17527004364ebcc2d37e5f6 on Ethereum), because copycat tokens are common.

For exchange choices, see our best crypto exchanges ranking, and for storage, our crypto wallets guide. Because news about Abracadabra moves fast and often spreads first on social media, our guide on how to verify crypto news and rumors explains how to check claims before acting on them.

Is SPELL a Good Investment?

SPELL is a very high-risk token. The bull case is that it still trades on Binance and Coinbase with about $2 million in daily volume, that its supply is almost fully in circulation and that it has shown sharp short rallies.

The bear case is stronger on the evidence available:

• A protocol with about $4.5 million in deposits
• A stablecoin trading at a few cents
• A wind-down proposal that values SPELL at nothing until MIM is repaid
• Both 2026 central forecasts below today’s price

You could lose the full amount. Compare other forecasts in our price prediction section.

Data sources: CoinMarketCap (price, market cap, supply, holders, all-time high and low, price history and market pairs), CoinGecko, Abracadabra.money documentation, DefiLlama, and the forecast pages of CoinCodex and CoinLore, as of November 3, 2026.

News sources: reports by The Defiant, TokenPost, Protos, KuCoin News and The Cryptonomist on the 2026 governance votes and MIM depeg.

Frequently Asked Questions

What is Spell coin?
Spell coin, or Spell Token (SPELL), is the governance token of Abracadabra.money, a DeFi lending platform launched in 2021 that lets users borrow the MIM stablecoin against interest-bearing collateral. SPELL holders stake tokens to vote on proposals. In early November 2026, SPELL traded near $0.000085 on CoinMarketCap, with a market cap of about $16.6 million and about 195 billion tokens in circulation.

Is Abracadabra shutting down?
A proposal to wind down Abracadabra opened on September 29, 2026. It would distribute recovered collateral so MIM holders get about four cents per MIM. The first vote failed to reach quorum. A second vote closed on October 15 with about 396 million SPELL from two wallets. It missed the 3 billion quorum but cleared the proposal’s own threshold, so its approval is disputed, according to TokenPost.

What is the future outlook for Spell Token?
The outlook is weak on the evidence available. SPELL trades near its all-time low, Abracadabra’s deposits are about $4.5 million, and a disputed governance proposal would wind the protocol down while giving SPELL no accounting value until MIM holders are repaid. Both central 2026 forecasts we track are below today’s price, and long-term models disagree sharply.

Can Spell Token predictions be used to forecast crypto prices?
Not reliably. Forecast sites such as CoinCodex and CoinLore build their figures mainly from past prices and technical indicators and recalculate them daily. They do not account for events such as Abracadabra’s wind-down proposal, MIM’s depeg or exploits. The two models even point in opposite directions for 2030, so treat their numbers as rough scenarios rather than forecasts.

What is the SPELL price prediction for 2026?
CoinCodex expects about $0.000072 in December 2026, about 16% below CoinMarketCap’s early November price, while CoinLore’s base case for the end of 2026 is about $0.000053, with a range of $0.000032 to $0.0003. Both pages were updated on November 3, 2026. These models are built mainly from price history and do not account for the wind-down proposal.

What is the SPELL price prediction for 2030?
The two models we track disagree. CoinCodex expects about $0.00002 in 2030, roughly 77% below the early November price, while CoinLore’s base case is about $0.00015, roughly 81% higher, with a bull case near $0.0008. Long-range forecasts for a token whose protocol faces a wind-down proposal carry very large uncertainty and should be read only as rough scenarios.

What happened to MIM (Magic Internet Money)?
MIM is Abracadabra’s dollar stablecoin. It lost its peg in June 2026, falling to about $0.49, and later traded at a few cents. The September 2026 wind-down proposal says MIM’s effective backing is below four cents per dollar, with about $22 million of MIM held outside the protocol against roughly $1.2 million of collateral.

Can SPELL reach $0.01?
Reaching $0.01 would require a market cap of about $1.95 billion at today’s circulating supply, roughly 118 times the early November value. Neither model we track forecasts that level through 2040; the highest figure is CoinLore’s 2040 bull case of about $0.0037. With the protocol facing a wind-down proposal, a recovery of that size would need a full turnaround.

Is SPELL a good investment?
SPELL is a very high-risk token. It trades near its all-time low, about 99.9% below its 2021 high, Abracadabra’s deposits have fallen to about $4.5 million, and a wind-down proposal gives SPELL no accounting value until MIM holders are repaid. Both central 2026 forecasts are below today’s price. Anyone buying should be prepared to lose the full amount.

Where can I buy SPELL?
CoinMarketCap has listed 53 SPELL markets. The most active include Binance (SPELL/USDT and SPELL/TRY), Coinbase Exchange (SPELL/USD), Gate, BtcTurk and SushiSwap on Ethereum. Availability depends on your country. If you use a decentralized exchange, confirm the contract address on CoinMarketCap first to avoid copycat tokens, and check for news about the wind-down before trading.

Nothing in this article is financial advice. Cryptocurrency investments carry substantial risk.