With the growth of the cryptocurrency market, lots of new digital currencies have been appearing. One such example is SafeMoon. SafeMoon’s name is associated with the saying “to the moon” in the cryptocurrency communities. ‘While it is unclear who originated the phrase, it has probably raised the support level for the coin. The currency that started as a wink coin is now trading at the $0.00000200 mark.
Competing and bracing in the challenging markets, SafeMoon is a cryptocurrency that refuses to bow down to central government pressures or be chained in defective and regulatory monetary shackles. SafeMoon has made it possible for everyone to store and transfer value in a currency that is resistant to manipulation. The ‘safe ‘part of its name is perhaps a slang term in the crypto market that indicates approval rather than a reference to the coin’s apparent security.
What is SafeMoon?
SafeMoon is a token circulating on SafeMoon protocol. It is a DeFi “community-driven” project designed to help democratize yield farming. It was launched in March 2021 and quickly became one of the most exciting meme coins. It runs on the Binance Smart Chain, making it less accessible than other digital assets like bitcoin or Ethereum. SafeMoon plans to develop an NFT exchange, charity projects, and cryptocurrency educational apps.
SafeMoon doesn’t have any unique use cases, i.e., it’s simply a cryptocurrency, but it does have some exciting features. The token holders pay a fee out of every trade – a 10% commission. Half of this commission is distributed between all the holders, and the other half is partly locked into a smart contract and partially put into a liquidity pool.
SafeMoon aims to solve the “liquidity problem.” Essentially, liquidity providers like Aave and compound bring in millions of dollars a day, with new users coming in all the time to try and farm tokens. SafeMoon discourages these users from doing so, thanks to a transaction tax.
The commission works both as a penalty for speculators, rewarding long-term holders, and as a way to ensure liquidity and provide static rewards for those holders. This unusual mechanism raised some concerns about the possibility of SafeMoon being a scam.
Those doubts were fueled further by the announcement that the team will execute manual burns instead of algorithmically defined ones – many feel this gives the team too much control. On the other hand, the dev team burned their tokens to ensure a fair launch, and overall, they seem accessible and eager to answer any question to alleviate doubts.
SafeMoon fundamental analysis and price overview
Going by the technical analysis, showing the least resistance and support levels, SafeMoon price has had a historic voyage, and it could be one of the reasons for its popularity. The current price of the SafeMoon token stands around $0.00000200, with a market cap of $2,924,837,695. The 24 hours trading volume of the SafeMoon token stands at $35,099,950, with a circulating supply of 585,536,366,402,812.
SafeMoon price history
SafeMoon launched on 8 March 2021 with an initial price of $0.000000001; traders started to get interested, and the price soon reached $0.0000015 on 3 April. It stayed around this price for about two weeks.
On Friday, 16 April, it stood at $0.000001, but it more than doubled by the following Wednesday, hitting just under $0.0000029 by the early hours of Sunday, 18 April. While this price growth seemed pretty impressive at the time, it was nothing compared to what happened next.
The value of SafeMoon skyrocketed in the space of a little over two days, hitting a high of $0.00001375 on the evening of Tuesday, 20 April. That is an increase of 375%. To put things even more starkly, if you had bought into SafeMoon when it was launched, then you would have seen the value of your investment shoot up by a stratospheric 1,374,900%.
If you had bought a dollar’s worth when it launched and sold at its peak on 20 April – just over a month after it became available – you’d have ended up a millionaire, even after your SafeMoon sales tax had been taken.
The mega-boom was short-lived, however. Since then, the price has gradually declined and closed at $0.00000207 on 23 August, according to CoinMarketCap. SafeMoon crypto fans believe it’s trading down to the unprecedented wave of stimulus from governments and central banks worldwide to tackle the coronavirus crisis would only make investing in SafeMoon trade rise. Such measures, they say, devalue fiat currencies, making SafeMoon a profitable investment in the cryptocurrency market.
Perhaps the most exciting comparison to SafeMoon is Dogecoin, another cryptocurrency whose market rates seem to be influenced by online enthusiasm more than anything else. Dogecoin price stayed at minimal levels before reaching around half a dollar recently. While SafeMoon is nowhere near that level, it is another meme-style coin that recently has seen a massive upshoot.
Rewarding token holder
SafeMoon encourages people to hold or use the meme phrase, HODL. The founders claim holders who sell a SafeMoon coin will be subject to a 10% sales tax, and 5% of the deducted tax will be redistributed to SafeMoon holders (hodling), with the other 5% burned. This system gives coin-holders a kind of static reward.
Theoretically, a SafeMoon holder makes a bit of money from other people selling their coins. SafeMoon coin holders could make a profit while the overall SafeMoon price falls. What will happen in the long term remains to be seen. However, in a situation where everyone holds, and very few buy or sell, and the price of SafeMoon will remain unchanged in the long term – meaning people will be left waiting for a price rise that ultimately never comes.
There are also concerns over the legitimacy of SafeMoon. Its unique structure, which encourages people to hold on to the coin and its relative newness. There is also the fear that since SafeMoon CEO John Karony holds around half of the liquidity, he could quickly get rid of it, thus rendering the coin worthless.
How does SafeMoon work?
SafeMoon is different from other cryptocurrencies due to its user experience or what happens after buying. Every transaction causes the network to do a “Reflection,” a “Liquidity Pool Acquisition,” and a “Burn.” Below is an explicit explanation of the terms:
In crypto, “Reflection” is used to refer to static rewards. To remove the liquidity bubble that comes with every new DeFi token, SafeMoon rewards holders with every transaction based on trading volume. Every transaction comes with a 10% tax. 5% of 10% transaction tax goes toward liquidity, and the other 5% is distributed to all saferoom holders.
This process rewards the holder for holding, as it’s costly to sell or day trade the asset. In addition, as more users buy into the network, rewards will (ideally) increase, which would promote holding even more, and so on.
Liquidity pool acquisition
The 5% tax that goes toward liquidity helps create price stability. To limit significant price shifts from panic selling and other scenarios, Safemoon distributes liquidity across all exchanges that support the asset. In this case, half of that 5% fee goes toward the SafeMoon/Binance coin (BNB) trading pair in the hope of creating said price floor.
The remaining 5% undergoes a conversion into BNB to remove the coin from circulation. This mechanism increases the asset’s rarity, pushing its price up as a result. These are the three steps involved with every single transaction.
The goal is to make the token a store of value more than an asset like litecoin, used for transactions. The token is more similar to gold in this respect. The team claims SafeMoon is meant to be a profitable, long-term investment due to these factors.
SafeMoon price forecast: 2021- 2030
SafeMoon price prediction 2021
Deep technical analysis on 2021 price data reveals SafeMoon will reach a minimum level of $0.00000185 and a maximum level of $0.00000204 with an average trading price of $0.00000192.
SafeMoon price prediction 2022
The current growth indicates the coin is reliable. The road ahead is full of petals provided the investor confidence keeps booming, resulting in a significant push to the coin price, taking it across all barriers, scaling the mini price of $0.00000185 to reach the max price of $0.00000323. However, it depends on the market behavior and social environment also.
SafeMoon price prediction 2023
SafeMoon has established a fast, reliable network and works with the user experience of the product. The SafeMoon Protocol is community-driven, and the user experience is fantastic. Its features can help Mooncoin gain momentum beyond the minimum price of $0.00000387 to reach the max price of $0.00000467 with an average price fixed at $0.00000401.
SafeMoon price prediction 2024
Quite a few speculations are going forward for SafeMoon. Especially keeping in perspective the technological announcements and booming sectors the corporation was designed on, there are assumptions its price may reach the maximum price of $0.0000680 with the average price at $0.00000571. The favor is done by majorly security and scalability features. The exciting promotional ventures may do the rest, making the buyers/sellers harvest the gains.
SafeMoon price prediction 2025
After the massive upgrades and development in the token SafeMoon, you will see a significant surge in the price. The coin is set to arrive at $0.00000984 at its max and $0.00000815 at its minimum. Momentum is also predicted for SafeMoon mainly due to its consistent performance over the years.
SafeMoon price prediction 2029
In 2029, the price of SafeMoon is predicted to reach the mini value of $0.00003562 in 2029. The SafeMoon price could reach a max value of $0.00004132 with an average trading price of $0.00003661 throughout 2029.
SafeMoon price prediction 2030
Based on the past price data. 2030 the price of SafeMoon is predicted to reach a minimum level of $0.00005136. The SafeMoon price can reach a maximum level of $0.00006205 with an average trading price of $0.00005319.
Price action according to Digitalcoinprice
SafeMoon forecast for 2021
The 2021 price data indicates that SafeMoon will reach an average price of $0.0000025800.
SafeMoon prediction 2022
In 2022, the price of SafeMoon is predicted to reach an average price of $0.0000031039.
SafeMoon price forecast for 2023-2024
The price of SafeMoon in 2023 is predicted to reach an average of $0.0000035899; in 2024; the price is pegged at $0.0000042856.
SafeMoon’s price prediction 2025
SafeMoon price for 2025 is projected to reach $0.0000052521.
Looking forward, people issuing a SafeMoon price analysis for the future seem cautiously optimistic. For instance, WalletInvestor has a SafeMoon price prediction that it will reach a maximum price of $0.000007 in August 2022 and hit $0.000029 in five years.
Meanwhile, DigitalCoin’s SafeMoon price prediction for 2021 suggests it will reach $0.0000030864 by the end of this year and could get as high as $0.0000091320 by the end of 2028. Either way, there is always the possibility that the market could be hit by something unexpected. There is also the impact of the soon-to-be-launched SafeMoon Wallet on a SafeMoon coin price prediction to be revealed.
Reddit comments on SafeMoon
Here’s a simple reflection from someone in the SafeMoon community:
I’m hodling 7.5ish billion. I might sell half a billion if it’s worth $0.01. If 24 hr volume goes to 23 billion like ethereum, I’m making 8600 per day in reflection. My lifestyle doesn’t let me spend that much money per day. Besides, I trust fiat currency less than crypto. So to me, this is value. Why would I sell crypto to buy fiat to buy things, if I can use crypto to buy things?I think the world will transition to crypto in short order. So, no need to sell my crypto.Safemoon Investor
Going “to the moon” is a term popularized recently by the Reddit group WallStreetBets, who use it to describe an asset’s price skyrocketing. SafeMoon rewards participants by levying a ten percent penalty tax on sellers and redistributing five percent of the proceeds to those who already own the currency.
A whitepaper report that outlines the features of a product such as a cryptocurrency—was reported to be accessible on the website by one Reddit user. Still, others said they couldn’t find it. When Newsweek tried to load the SafeMoon website, it seemed to be down. According to the company, website issues can arise as a result of “unexpected” demand.
SafeMoon has concentrated on producing its secret sauce, an automated liquidity pool in which loyal investors are rewarded and speculators are discouraged, to fix this issue. Sellers will pay a 10% levy, half of which will be redistributed to current investors, assisting in creating what they hope will be a “market floor.”
What is SafeMoon coin?
SafeMoon is a cryptocurrency that launched in March 2021 and attracted attention after its price skyrocketed in April. It was designed to reward long-term holders and charges sellers a 10 percent fee, with part of that fee going back to existing holders.
Is SafeMoon a good investment?
SafeMoon market cap is currently $1.03B and growing. There has still been substantial price volatility despite the desire to achieve stability through the fees levied on investors who sell their tokens. Investors could have made both impressive gains and staggering losses, depending on their financial situation.
Is SafeMoon safe to buy?
SafeMoon is a big gamble, so take that into account when deciding how much you’ll buy. It’s good to purchase a bit if you like the concept or want very high-risk crypto in your portfolio. Make sure you only put in money you can afford to lose.
Will SafeMoon reach $1?
SafeMoon can reach $1 in the future and become more successful. If you want to buy some and wait until it reaches the magic dollar mark, you may be waiting for some time. The process is the same for most cryptocurrencies.
One should be prepared to deal with some losses in the coin’s value and gains and practice patience. Even the most optimistic long-term SafeMoon crypto price prediction shows less than a cent price seven years from now.
What is the safest cryptocurrency for investment?
Bitcoin is the most established cryptocurrency, and it’s safer than most altcoin investments. However, altcoins often provide higher returns during a bull market, making them attractive investments for risk-tolerant individuals.
Is SafeMoon a legit crypto trade?
Based on a mathematical and scientific blockchain algorithm, it is doubtful that SafeMoon will get hacked. When you trade using a SafeMoon account, you own the keys of your wallet, and hence, safety becomes manageable.
Can I make money with SafeMoon?
With a market cap of 1.03 billion USD, SafeMoon speaks for itself. However, you need to constantly track the price of SafeMoon and do your due diligence of the price forecast for profit. A piece of sound investment advice is to buy at the minimum price and watch out for current price predictions and future costs of SafeMoon constantly. Analyze your risk/benefit ratio to control your portfolio transactions and trade with confidence in crypto tokens to avoid any unnecessary price drop.
How to buy SafeMoon
Although SafeMoon crypto is available only on some exchanges due to its relatively new cryptocurrency, the SafeMoon website suggests the following method. It seems convoluted, but it will work if you are patient. Remember: some transactions can take a while, depending on how busy the network is.
- Purchase a Binance Coin (BNB) and then exchange it for SafeMoon.
- Create a Safewallet Account, download the app. Available for iOS and Android,
- Transfer BNB to Trust Wallet From Binance.
- Click More button on Trust Wallet to Swap to Smart Chain
- Open Trust Wallet, click on dApps, find and click on PanCakeSwap
- After opening PanCakeSwap “Click on Connect” on the top right corner.
- Go to CoinMarketCap and copy the address of SafeMoon
- Paste the address and choose SafeMoon. select the amount you want to swap & Swap.
Why do people trust SafeMoon?
SafeMoon happens to be one of the most transparent and decentralized assets with a secure wallet. No wonder its advantages override its limitations. That is the reason investors tend to buy SafeMoon with confidence and tracking future SafeMoon price predictions.
Why should I use SafeMoon over Bitcoin and Ethereum?
Compared to Ethereum, SafeMoon’s functions as a deflationary asset continue to help the coin appreciate value.