Safemoon Price Prediction: Will Safemoon Reach 1 Cent?
There are currently over 7,000 digital currencies in the cryptocurrency market today with newer ones being added on a daily basis. All these coins are trying to achieve the same valuations and achievements as popular cryptos Bitcoin and Ethereum. Therefore, as a beginner investor, it can be a little challenging researching and deciding which coins to invest in. Unfortunately, (or fortunately) some of these coins will never be successful.
Today, we’ll explore a relatively new digital currency trying to reach new heights other cryptocurrencies such as Bitcoin have before it did. Safemoon, which debuted in March 2021, has been receiving a lot of hype lately. A lot of the hype revolves around the fact that Safemoon is trying to solve one of the major issues common in cryptocurrencies; price volatility. Let’s take a deep dive into Safemoon unearthing how much it’s worth, whether or not it’s safe, and whether it’s a good investment.
What is Safemoon?
Safemoon is one of the new cryptocurrencies to debut in the market in 2021. It was deployed on the Binance Smart Chain blockchain and represents a solution to one of cryptocurrency’s most common problems; volatility. It’s designed in a way that discourages selling and instead, encourages users to invest in it for the long term. It does this by charging a 10% fee on all transactions. 5% of the fee is equally distributed to Safemoon holders and the other 5% is sent to a liquidity pool.
The liquidity pool is an additional effort to ensure that Safemoon maintains its price stability. Safemoon developers also manually burn and reduce the amount of Safemoon coins in circulation. They do this regularly in an effort to reduce supply and increase the price over time. Their goal is to introduce a coin that ensures “safe” gains without the risk of bubbles. Currently, there are over 2.5 million Safemoon coin holders with about 585 trillion coins in circulation.
How much Is Safemoon?
Safemoon is still relatively new. Therefore, there is not a lot of historical price data to review. The current Safemoon value is about $0.000002228 and has hovered around that level since mid-September. The price soon jumped to an all-time high of $0.00001399 in April but has since dropped. According to data from CoinMarketCap, Safemoon has a total market value of over $981 million and ranks at position 212 in terms of market dominance. Not bad for a cryptocurrency that is still brand new.
Safemoon Price Prediction
The amount of media attention that Safemoon has received despite being new to the market tells a lot. The majority of investors opting for Safemoon right now believe that its value could reach new heights. Remember, Safemoon doesn’t have any real-world uses at the moment and this could be an issue down the line. However, things might change and we might see price movement years to come. With that said, let’s take a look at several future Safemoon price predictions.
- Safemoon Price Prediction 2022
There are no sudden risks for the crypto market in the near future. Therefore, as long as Safemoon’s investor confidence continues to grow, then chances are the price will rise. Market experts predict that the price of Safemoon will cross into the $0.00000600 mark by 2022.
- Safemoon Price Prediction 2025
Market analysts believe that Safemoon’s consistent performance expected during the years will have set it up to improve over the coming years. Additionally, if investors start to understand the true value of holding rather than selling, then the price is bound to rise to $0.000151 by 2025 eating up one zero.
- Safemoon Price Prediction 2030
It’s a little challenging to make a long-term future Safemoon price prediction as many factors can affect Safemoon’s price in the long term. Market analysts predict that the price of Safemoon as of January 2030 will be around $0.05 approaching 1 cent.
Is Safemoon a good investment?
Safemoon’s original purpose is to discourage people from selling. Therefore, there is definitely a chance that early adopters and the owners will most definitely win from a price rise. There has been and there still is a lot of speculation around SAFEMOO and the extent to which it is legit. This is because it doesn’t actually do anything else apart from discouraging hodlers from selling. Because of this, some industry analysts are convinced that Safemoon is a pump-and-dump scheme. However, the token doesn’t seem to be leaving the front pages of the media landscape and keeps launching its own products to support the ecosystem.
Will Safemoon go up?
There is major hype surrounding Safemoon right now. There is a possibility that the coin could see more buyers in the coming months, thanks to their successful wallet launch on App Store. Therefore, as the wallet continues to gain more widespread usage, it could drive up the price of Safemoon. Additionally, there is also a chance that the floor could get broken and the price could drop. This is why it is very important that you do your due diligence or at least consult with a professional before investing in any cryptocurrency.
Will Safemoon reach 1 cent?
At the moment, Safemoon’s price is resting at around $0.000002228. While the journey towards the 1 cent mark seems a little way off, there is the possibility that Safemoon may cross the mark. Recently, Safemoon enjoyed some positivity with the successful launch and adoption of their new wallet. There is also a plan within the Safemoon roadmap to launch a Safemoon cryptocurrency exchange. These projects are bound to drive more interest towards Safemoon which might increase adoption, which might drive up prices past the 1 cent mark.
How high can Safemoon go?
There is genuinely no limit to what levels a cryptocurrency can hit. Just how high a cryptocurrency’s value can rise depends on the coin’s adoption, market demand, and the number of projects within its roadmap. Therefore, the decision to invest in Safemoon depends entirely on you and how much you are willing to risk. However, the overall success of Safemoon depends entirely on Binance, the team behind Safemoon and the community built around it.
How to exchange Safemoon on Swapzone?
If you’re interested in getting Safemoon at ease, Swapzone can help you with that. Follow this step-by-step guide and become a Safemoon holder:
Step 1. Go to the Swapzone website.
Step 2. Select the currency you want to swap in the field “Send” and Safemoon in the field “Get up to”.
Step 3. Input the amount of currency you want to exchange for SAFEMOON. Swapzone will now bring you the best rates from various exchanges offering the desired pairing and show the amount of Safemoon you are getting for your crypto.
Step 4. Click on the “exchange” button, which will ask you to provide the address you want your newly purchased Safemoon sent to. There is also space for a refund address.
Step 5. Click on the “proceed to exchange” button. Swapzone will also show you the review of the exchange site you choose to buy from.
Step 6. Wait for the deposit to be processed by the exchange service and the exchange to be done.
Step 7. Don’t forget to rate the exchange partner and leave a review, so we can gather more information on the exchanges for future users.