Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
SafeMoon, which was first released in 2021, has become very lucrative among investors. It is one of the more recent additions to the memecoin market that has done successfully. It is said to be on par with memecoins like Shiba Inu and Dogecoin.
Here’s AMBCrypto’s Price Prediction for SafeMoon [SFM] for 2023-24
During the crypto boom last year, SafeMoon fared quite well but it crashed during the crash in the second quarter of 2022. According to experts, the cryptocurrency sector is now experiencing a pessimistic market attitude, thus its prospects aren’t particularly promising.
Safemoon’s price has drastically increased over the past 12 months, peaking at $0.00001194 in April 2021. Because the cryptocurrency market is now struggling, analysts on the market advise caution when buying in this coin.
Safemoon may hold the 2991st spot on CoinMarketCap, but this seemingly small crypto is wildly dominant on social media and enjoys popularity among several celebrities. BSC Daily reported last month that SafeMoon was the top BNB Chain project that had captured the most social volume.
A new entrant to the DeFi industry, the SafeMoon cryptocurrency has continued to draw investors since its launch in the spring of 2021. Considered the latest among the better-performing memecoins, SAFEMOON is often compared to Dogecoin.
The crypto witnessed marvellous growth the past year, but its prospects are being tested this year as the entire cryptocurrency and blockchain industry is witnessing a bear market.
An investor can acquire a considerable amount of SFM with a relatively small investment, given that the token was trading at $0.00026 with a market cap of $160 million. However, choosing to purchase a crypto just because its selling at a low price is neither an informed, nor a wise decision.
The price action of tokens like SafeMoon is largely dependent on the hype around the project and its relevance on social media. Influencers and pump groups often exploit such tokens due to their social capital and subject it to pump and dump schemes. As per data from CoinMarketCap, SafeMoon has seen 2 such pump and dump schemes over the past 60 days. On 25 August, the token rallied by a whopping 1489% within a matter of hours, going from $0.0000001069 to $0.00000169. Similarly on 9 September, SafeMoon pumped by over 400%.
SafeMoon saw tremendous growth in 2021, however, this year appears to be difficult for SafeMoon since all cryptocurrencies are down. However, the V2 mark has made a huge splash for SafeMoon.
In fact, some platforms like Telegaon predict SFM’s price to reach a maximum price level of $0.0025 in 2022 with an average price of $0.0015. SafeMoon, however, may hit the minimum price threshold of $0.00089 in 2022 if there is a bearish run. In 2022, a bullish movement is anticipated, one that might send the SFM Coin to the moon.
So, why do these projections matter?
Since its introduction, SafeMoon has outperformed the majority of the top meme coin projects’ ROI, where most of them have been operating for a year. As one of CoinMarketCap’s most popular pages, SafeMoon has had more visits than Bitcoin and Ethereum combined. SafeMoon received a breakout reaction, or nearly a million searches, according to Google’s trending statistics of the globe filter.
In 2021, SFM significantly repaid its investors. Given how volatile the crypto-market is, it is impossible to predict the price of SafeMoon or any other cryptocurrency in the future. However, given that SafeMoon switched to V2 in December 2021, the performance of SFM Coin in the future is promising. This coin is actively promoted by the SafeMoon army, which works nonstop day and night.
This article will take a took at SafeMoon’s recent market activity, paying particular attention to its market cap and volume. With the aid of datasets like non-zero addresses, whale transaction counts, etc., the same will be expanded upon. The most well-known analysts’ and platforms’ predictions will be summarized at the end, along with a look at the Fear & Greed Index to gauge market sentiment.
SafeMoon’s price, volume, and everything in between
SafeMoon was launched in March 2021 with a supply of 777 trillion tokens. Its rising popularity, coupled with the crypto-boom of 2021, proved to be extremely successful for the coin as its price hit an ATH by around mid-April. By the end of October, its price continued to hit new levels and sustain previous levels whenever drawdowns came to be.
Come Q2 2022, however, and the token completely collapsed, mirroring the gloomy picture of the cryptocurrency industry.
The popularity of SafeMoon earned it a huge number of users. Launched in March 2021, its market capitalization grew exponentially within a matter of a few weeks, peaking at $5.75 billion in mid-May. By the end of October in 2021, SafeMoon’s market cap was worth $3.65 billion.
During the crypto-collapse of 2022, the market capitalization of SafeMoon fell from $1.4 billion (early January) to a little over $215 million. At press time, it was just over $160 million.
According to CNBC International’s estimation, the tremendous flood of stimulus from governments and central banks throughout the world to treat the coronavirus epidemic will only enhance investment in the SafeMoon trade, according to proponents of the cryptocurrency. They contend that such activities reduce the value of fiat money, making SafeMoon a profitable investment for holders of cryptocurrencies.
Several celebrities, including the Backstreet Boys’ member Nick Carter, the young rap sensation Lil’ Yachty and Youtuber Logan Paul, have endorsed SafeMoon. The coin has also been subject to several lawsuits, however, with some accusing it of recruiting celebrities to help shoot up its price.
Everyone needs #SAFEMOON or this will be you 📈 pic.twitter.com/r9DCQG0pmQ
— Jake Paul (@jakepaul) March 27, 2021
One of the more recent incidents in the SafeMoon celebrity endorsement saga was when SafeMoon investors brought a lawsuit against Barstool Sports founder, Dave Portnoy. Portnoy was in the news in September 2021 when he invested $40000 in SafeMoon, calling the crypto his “favorite sh*tcoin”.
Investors accused him of pumping the crypto and then dumping his positions. However, Portnoy claimed that he did not make any money on his investment and as a matter of fact lost a significant part of his investment.” Im only guy who loses all his money in safemoon and gets sued for it,” he added.
However, the legal information website named Justia revealed that on 9 September, the plaintiffs filed a notice of dismissal in regard to Portnoy.
Towards the end of July, Bloomberg reported that SafeMoon had entered into a partnership with Pige Inu. The joint venture will see collaboration on twitter as well as listing the latter on SafeMoon Swap.
That was not the only new listing for SafeMoon Swap in July. As per a report by Insider, SafeMoon had announced a corporate partnership with MetFX. As per the partnership, the project will be listed for trading on SafeMoon Swap.
Over the coming year, it would certainly surpass all restrictions and bring good fortune to anyone who invested in it. In fact, by the end of 2021, SafeMoon’s price easily hit $0.000001367 thanks to strong smart contracts.
Data from blockchain analytics firm Santiment revealed that market events have been unable to deter SafeMoon’s popularity. Positive sentiment for the crypto bears an uncanny resemblance to its social dominance.
Both these metrics peaked in the aftermath of Terra’s collapse. However, the sharp decline in development activity should be a cause for concern.
SafeMoon’s 2025 Predictions
Market predictions are not completely trustworthy. Cryptocurrency analysts cannot always foresee larger political and economic forces such as geopolitical crises in Ukraine or increasing regulations. Besides, different analysts look at different sets of market metrics to arrive at their conclusions. Therefore, their predictions can widely vary. Investors should conduct due research before investing in any cryptocurrency, especially a coin as volatile as SafeMoon.
A Changelly blogpost says that crypto-experts have analyzed the price of SafeMoon since its launch and don’t predict a rosy picture for the token. According to them, SFM will be traded at as low as $0.00000002 throughout 2025.
Telegaon, however, is very optimistic about the future of SafeMoon. In 2030, it predicts that SFM will be traded for as high as $0.012 and as low as $0.0072. Its average price throughout the year will be $0.0084, it claimed.
The Capital’s Mohadesa Najumi summarized that SFM will be traded within the range of $0.000918 and $0.002 in 2025.
SafeMoon’s 2030 Predictions
For 2030, Changelly claimed that SMF will be traded at as high as $0.00000015 and as low as $0.00000013 in 2030. Its average price in the said year will be $0.00000014, with its potential ROI being 400%.
Telegaon, on the contrary, predicted that it will be traded at as high as $0.11 and as low as $0.38. Its average price in the said year will be $0.24, it said.
Najumi writes that different forecasters have different expectations regarding the future of SafeMoon. In 2030, it could be traded within the range of $0.00211 and $0.011, she stated.
Here, it’s worth looking at the Crypto-Market’s Fear and Greed Index too. It’s been a bearish few days for the market, with the index with a reading of just 20, at the time of writing. On the contrary, the same had a reading of 47 earlier this month. Needless to say, there seems to be a lot of fear around.
SafeMoon gained attention in the market with the launch of SafeMoon V2 in December last year. It brought with itself a 1000:1 consolidation update with a new total SFM supply of one trillion.
Safemoon is still a respectable currency to invest in for good future profits. Being a meme coin, the asset is subject to significant price fluctuations. It is fortunate that it is a desirable alternative given its low cost. The asset has some promise, as evidenced by the aforementioned Safemoon projections.
🌕 V2 update
1 trillion will be the new total supply for V2. With the burn, we have 575 billion in circulation. Token consolidation: 1000:1 V2 update.#SAFEMOONSUNDAY
— SafeMoon (@safemoon) October 3, 2021
The SafeMoon community also remains very strong, always making efforts to take it to newer heights. In fact, it won the Crypto-Community of the Year Award 2021 at the AIBC Summit held in Malta.
The future of SafeMoon, like all the cryptocurrencies, is uncertain but it can reach new heights given it is successful in adapting to new changes in technology and market. Investors should however be cautious of market trends and focus on studying long-term impact of a cryptocurrency before investing.
This news is republished from another source. You can check the original article here.
Be the first to comment